India’s fastest-growing fan company… is still losing money. This is Atomberg—a company that scaled from ₹140 crore to ₹1,290 crore in just five years.

And it didn’t even start as a consumer brand. Back in 2012, it was founded by IIT Bombay graduates Manoj Meena, Arindam Paul, and Sibabrata Das.

But instead of building a brand, they started as a deep-tech engineering company—designing motor control systems for institutions like DRDO and ISRO.

No marketing, no distribution—just pure engineering. Then came the turning point. In 2015, Atomberg entered the fan market with BLDC technology—fans that were far more efficient and smarter than anything available at the time.

And that one move changed everything. Over the years, it built a 40–45% market share in BLDC fans and around 46% in premium fans.

It didn’t just compete—it created the category. But here’s where the story gets interesting.

Even after reaching ₹1,290 crore in revenue, the company is still not profitable. In FY26 alone, Atomberg reported a loss of around ₹159 crore.

So while revenue is scaling fast, profits are still missing. Why? Because growth is expensive.

Atomberg spends 10.5% of its revenue just on advertising. It is expanding into new categories like kitchen appliances and components—but those businesses are still making losses.

Right now, only the fan business makes money, and that one engine is funding everything else.

And now comes the IPO.

Atomberg is planning to raise up to ₹450 crore. But what’s more important is how this money will be used.

Around ₹90 crore will go towards repaying debt, ₹150 crore will be spent on brand building and marketing, and ₹100 crore will go into research and development.

That tells you everything. This isn’t just about scaling fast— it’s about funding growth, fixing the balance sheet, and continuing heavy investment.

So here’s the real question. Atomberg has already proven it can build great products and scale fast.

But can it convert ₹1,290 crore of revenue into actual profits?

Because right now, it has clearly won the product game… but the business model is still a work in progress.