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Atomberg slashes losses by 41% in FY25 after sharp cut in employee costs

EntrackrEntrackr · 19d ago
Atomberg slashes losses by 41% in FY25 after sharp cut in employee costs
Medial

Atomberg slashes losses by 41% in FY25 after sharp cut in employee costs Consumer appliances brand Atomberg reported another decent financial performance in the fiscal year ended March 2025, as it crossed the Rs 1,000 crore income mark and reduced its losses by over 40% due to a sharp cut in employee costs. The Mumbai-based firm’s revenue from operations surged 20% to Rs 958.4 crore in FY25 from Rs 796.9 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). Atomberg’s product portfolio includes energy-efficient brushless direct current (BLDC) and smart fans, mixer grinders, smart locks, and water purifiers. Sale of these products was the sole source of revenue for the company. The company also earned Rs 42.45 crore from interest on current investments, the sale of investments, and other non-operating sources, taking its total income to Rs 1,000.9 crore in FY25. For the consumer appliances brand, the cost of materials was the largest expense, which formed 61% of total costs at Rs 535.2 crore. This cost increased broadly in line with revenue. Notably, the firm’s employee benefits expenses declined sharply by 36% to Rs 158.6 crore in FY25 from Rs 248.3 crore in FY24. Advertising and promotional expenses and warranty claims stood at Rs 104 crore and Rs 53.8 crore, respectively, in FY25, while commissions on sales, freight and logistics, IT expenses, depreciation and amortisation, and other overheads pushed total expenditure to Rs 1,118.3 crore during the period. At the bottom line, the Temasek-backed company narrowed its losses by 41% to Rs 117.4 crore in FY25 from Rs 199 crore in FY24, largely due to a sharp reduction of Rs 89.7 crore in employee costs during the period. Its ROCE and EBITDA margin improved to -25.02% and -6.62% respectively. On a unit level, it spent Rs 1.17 to earn a rupee of operating revenue. As of March 2025, Atomberg’s current assets were Rs 594.5 crore, including cash and bank balances of Rs 27.3 crore. According to startup data intelligence platform TheKredible, Atomberg has raised over $150 million to date, including its most recent $24 million round raised earlier this December, led by Temasek with participation from co-founders Manoj Kumar Meena and Sibabrata Das. Entrackr exclusively reported the funding. Reportedly, Atomberg is eyeing a Rs 2,000 crore ($220 million) initial public offering (IPO) and is expected to list on the Indian stock market during the January–March quarter of FY26. The company has also picked Avendus and IIFL as bankers for the IPO. The IPO plans might be built around optimism around the brand strength and improving financials, with perhaps even profitability a real possibility. Atomberg has clearly done well in a seemingly mature category of fans and appliances, with the whole category seeing a shake-up of sorts as older brands struggle to adapt due to various reasons. Be it its digital approach initially that was backed with clever PR around its BLDC-based push, or the more recent offline push, it has kept a good control on costs. The calibrated approach has impressed investors and consumers alike, and a Rs 3000 crore milestone by 2035 or earlier is not as unlikely as it seems in a category where double-digit growth is an achievement.

Wakefit targets to raise Rs 1,500-2,000 Cr from IPO: Report

EntrackrEntrackr · 9m ago
Wakefit targets to raise Rs 1,500-2,000 Cr from IPO: Report
Medial

Wakefit targets to raise Rs 1,500-2,000 Cr from IPO: Report Home furniture and sleep solutions company Wakefit has selected three investment banks to help with its plans to go public. According to a Moneycontrol report, the company has chosen Axis Capital, IIFL Capital Services, and Nomura to guide its initial public offering (IPO). Wakefit is expected to file draft papers for the IPO in the coming months. As per the report, the company aims to raise between Rs 1,500 crore and Rs 2,000 crore ($200 million). It has not yet decided how much will be raised through new shares and how much will be sold by current investors. So far, Wakefit has raised more than $100 million (around Rs 850 crore) from investors such as Peak XV Partners, Paramark Ventures from South Korea, and Verlinvest from Europe. Some of these early investors may sell their shares in the IPO. Wakefit started as a mattress company but later began selling other furniture like beds, tables, and chairs. As per TheKredible, Wakefit’s revenue from operations increased by 21% to Rs 986.4 crore in FY24, as compared to Rs 812.6 crore in the previous fiscal year. The firm managed to control its losses by 90% to Rs 15 crore from Rs 145 crore in FY23. Wakefit competes with companies like SleepyCat, Duroflex, Pepperfry, IKEA, and Woodenstreet in India’s furniture and sleep product market.

Square Yards to raise Rs 2,000 Cr via IPO at $1.5-$2 Bn valuation

EntrackrEntrackr · 6m ago
Square Yards to raise Rs 2,000 Cr via IPO at $1.5-$2 Bn valuation
Medial

Square Yards to raise Rs 2,000 Cr via IPO at $1.5-$2 Bn valuation Proptech platform Square Yards is eyeing to raise Rs 2,000 crore through an initial public offering (IPO) at a valuation of $1.5–2 billion, sources aware of the development told Entrackr. The Gurugram-based company is in the process of appointing investment bankers and is likely to file its Draft Red Herring Prospectus (DRHP) within the current financial year. “The planned Rs 2,000 crore Initial public offering (IPO) will be split equally between primary and secondary components, said a source. “A significant portion of the funds raised will be used to provide an exit opportunity for early investors and to reduce the company’s debt.” Founded in 2013, Square Yards is a proptech platform that provides end-to-end real estate services, including property discovery, buying and selling, mortgage assistance, home furnishing, rentals, and property management. Square Yards operates in more than 100 cities across nine countries and has 150,000 agent partners. Square Yards has raised a total of $200 million of funding to date, having Reliance Group as its lead investor, which has an 8% stake in the company. According to another source, the founders of the company are expected to hold more than 50% stake after the IPO. Square Yards is targeting Rs 2,000 crore of revenue and Rs 200 crore EBITDA (Earnings before interest, tax and depreciation) by the end of the current fiscal year (FY26). During the previous fiscal year, Square Yards reported 40.9% year-on-year growth in its operating revenue to Rs 1410 crore, while its gross profits soared by 51.9% to Rs 316 crore in FY25, compared to Rs 208 crore in FY24.

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