Atomberg Technologies, a consumer durable goods company, which primarily manufactures energy-saving fans, increased its net sales in the last fiscal year, while reducing its operating loss.

The company, backed by Singaporean state investor Temasek and international companies venture capital The Steadview Capital fund recorded a 31 per cent increase in operational turnover to Rs 848 crore in FY24, driven by growth in its ventilator business.

The company largely depends on ventilators, the main product that Atomberg has been manufacturing since its inception in 2012. It earned around Rs 841 core, or over 99% of its operating revenue, from the sale of ventilators.

“For the first two quarters of FY25, we again recorded high double-digit growth and are on track to achieve another year of good growth while improving profitability at the same time,” said Arindam Paul , commercial director of Atomberg, in a press release. LinkedIn job.

Its non-ventilation business, which includes kitchen appliances and smart locks, contributed around Rs 7 crore, or less than 1 per cent, to Atomberg’s sales in FY24. The company had launched more than two years ago in manufacturing kitchen appliances with mixer grinders based on inverter technology and other household appliances.

“Given the current excellent growth trajectory of our kitchen appliances and smart locks business, we appear to be on track to deliver exceptional growth in these categories in FY25,” said Paul.

Meanwhile, Atomberg cuts its operating loss or Ebitda loss for the year by more than half to Rs 22 crore in FY24 from Rs 49 crore in FY23. Ebitda represents earnings before interest, taxes, depreciation and amortization. The company’s Ebitda margins improved to -3% from -8% previously.

On a net loss basis, however, the company widened its net loss to Rs 202 crore in FY24, from Rs 138 crore in the previous fiscal, due to “new ESOP grants, management bonuses and fundraising costs.”

Atomberg had raised $86 million in its Series C funding round co-led by Temasek and Steadview Capital last year in May. The company was started by technocrats and IIT Bombay alumni Manoj Meena and Sibabrata Das in April 2012. It specializes in producing energy-efficient smart fans.

Previously, the company raised $20 million in its growth funding round led by Jungle Ventures in December 2021. Additionally, in September 2019, the Mumbai-based company raised a Series A funding round led by A91 Partners.