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ICICI Securities Report
Atomberg, which commenced its journey in 2012, has developed a niche for itself with product differentiation. It reached revenue of Rs 3 billion in FY21 and plans to reach revenue north of Rs 15 billion in 36 months.
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Apart from strong presence on e-commerce channel, it has also developed distribution network of 7,000 outlets and plans to expand reach to 15,000 by the end of next financial year.
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Its manufacturing unit is at Navi Mumbai with monthly production capacity of 150,000 fans. Considering its revenue, we believe Atomberg has likely gained market share in low single digits in fans.
It has set a target to reach revenue of Rs 15 billion, which would be equivalent to high-single-digit market share.
Atomberg focuses on products with brushless direct current motor technology. We believe once the rules related to star ratings on fans are implemented in H2 CY22, demand for BLDC fans is likely to increase.
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