[music playing]
[theme music playing]
Peyush, vegetarian sushi for you.
- Amit, sushi for you. Vegetarian. - Is it vegetarian?
[music fades]
This is a very unique style.
This is the first time the demo is being given
- before the introduction. - Yes, ma'am.
I've been saying this for three years.
- The bribe should come first. - [laughter]
- Absolutely. - You're the first person to get it.
- Absolutely, sir. Thank you. - Well done. Thank you.
So, Sharks, what you're having today
that aren't easily available in the market.
or an international recipe every day?
You might make it once or twice,
then the ingredients will just expire over time.
Sharks, I faced the same thing.
To solve this problem,
I started Chefling.
[music playing]
Greetings, Sharks.
Chefling brings customers
unique DIY or do-it-yourself kits.
These kits contain all the ingredients
Sharks, we started Chefling in August 2020.
and Indian cuisines to the world,
making their experience easy, economical and sustainable.
So, Sharks,
- The sushi is good. - Thank you.
Thank you for feeding us.
- I was famished. It was great. - Sir, always.
- That's my mission. - Yes. Good sushi.
- Good sushi. - Thank you.
- Rounit, welcome to Shark Tank Season 3. - Thank you, sir.
Tell me how you came up with the idea
of feeding international cuisine to Indians.
My dad owned a textile manufacturing company.
The company went bankrupt in 2019.
And this is where my...
I always wanted to do something...
Something of my own and something big.
I had this idea in 2020.
I was reading about DIY meal kit companies
and why they failed
in India and around the world.
It was because they were too early
and because they provided quite mediocre kits.
For example, if we talk about India,
if someone in India comes out with a Pav Bhaji kit,
there wouldn't be a lot of people who would buy it
because all the mothers can make Pav Bhaji.
- Interesting observation. - Interesting observation.
You have to admit one thing.
There's a successful company called Plated
which came on Shark Tank.
- On the US Shark Tank. - Right.
Now, that company is doing very well.
is almost like a copy of Plated.
In fact, not just Plated,
There are companies who are doing it.
- In India also? - In India too.
There's one more company called Kook by Pluckk.
They sell DIY kits in the model of a cloud kitchen system.
Are their raw materials fresh?
- They're fresh... - Yours are not?
There's no perishable item in my kits.
- Ma'am, I'll show you. - We have to go there.
- Show me. - Come on.
This is the Chefling Sushi Kit for six.
This is the tempura batter, ma'am.
This is the wasabi powder.
- Very nice packaging. - Thank you so much.
This is the Japanese sticky rice
- which is also the sushi... - This is the mat.
That's the mat.
You know, many times, you don't understand the instructions.
- Can't you provide a QR code... - Yes, ma'am.
- That directs you to a video? - Exactly.
- We're working on a QR code system. - Oh, you are.
The raw materials are inside and the recipe is on the box.
- Exactly. - Just cook it.
Show me the packaging.
Yes, sir, but it is very simple.
Which one's the hero product?
[light-hearted music playing]
Sir, this is all my team's work.
I've outsourced the work.
How much is the Sushi Kit for?
So, there is an audience, I'm not saying there isn't...
That audience will put in the work
and then, there's the audience
- that will just order it in. - Correct.
I'm interested in knowing his background.
You were telling us your story.
What had happened and how did you come out of it?
16 December 2011.
As I mentioned, my dad had a textile company.
- It came crashing down. - Ouch.
The factory just collapsed.
- Were there people inside? - No, sir.
- Thank God. - From there began the circle of debt.
It took around Rs. 6.5 crores to rebuild the factory
and that crunch just kept increasing.
Until in 2018,
someone told us to offer an IPO.
Oh, my! Wow.
How much money was it?
Sir, it was a fully-subscribed IPO of Rs. 8 crores.
That came as a big shock.
Owing to that, until August 2020,
the company was under NCLT.
My dad was, and my mom was a promoter.
Do the debtors still harass them?
Not any more, but they used to.
I've never met a stronger person than him.
He handled everything very calmly,
one step at a time.
The result is right here.
- That's why you're so positive. - Yes, ma'am. Thank you.
- What about your mom? - Mom is a housewife.
I took Rs. 50,000 from my mom and started this business.
After that, I took Rs. 1 lakh.
Quite a lot, sir.
- How much? - Until now, we only sold the Sushi Kit.
Sir, our new kits that were introduced
for instance the Barbecue Kit...
I had launched it on 1 October, sir.
We have done sales of Rs. 1.2 lakhs already
Who's in the team?
Who makes the recipes?
- Yes, exactly. - Who else is in the team?
That's outsourced too.
They are called the Food Research Lab.
We got the sauces for our new kit developed by them.
Is there anyone else in the team apart from you?
No, sir. I'm the...
- You're a single-man army. - Yes, sir.
- You get this work outsourced now. - Yes, sir.
Do you plan to run this yourself going forward?
- No, sir. - Or will you hire a team?
I'm looking for a co-founder.
I'm a bit weak in sales and marketing.
What are your strong points?
Sir, innovation and management.
- I mean... - The product is his strength.
- Exactly. - You own 100% equity now.
Yes, sir.
- Your sales are about Rs. 20 lakhs. - Yes.
If we give you a multiple of ten times,
your valuation comes to Rs. 2 crores.
- Yes, ma'am. - Right?
So, the offer we'd like to give you
is Rs. 40 lakhs for 20% equity
In 2011 and then in 2018.
Despite that, you stand here with a smile on your face.
You're trying to build a business again.
- Fantastic. - This is a sign
that you possess a strong will to do something.
I don't quite understand one thing.
According to you, how many people in India eat sushi?
Sir, in my opinion, 30% of the people.
No.
It wouldn't even be 3%.
The tax-paying population is 3.5 crores.
Yes.
Let's assume the percentage is about 2%.
That'd be 2 to 3 crore people.
- Your monthly numbers are in hundreds. - Yes.
What's the friction?
I see a big TAM as far as sushi goes.
We haven't gone below the Rs. 1,200 segment yet.
A cheaper version of these kits will come in the next three months.
Would it be fair to say
that you don't have a market at a price point of Rs. 1,299?
Who are the other players in India?
There's a company called Urban Platter.
What's the size of their business?
It's quite smaller than ours in comparison.
How big will your business be in three years?
We're easily looking at sales of Rs. 10 crores a year.
So, how much would it be currently?
- Rs. 1,000 to 1,500 crores? - Sir, roughly...
Roughly around Rs. 2,500 crores.
Rs. 2,500 crores!
This market... You claim you're bigger than Urban Platter.
You are one of the larger players.
Your business is only Rs. 40 lakhs. So, who is...
it includes ready to cook and ready to eat, sir.
- You include packed paneer in this. - Exactly.
- The Haldiram's packets. - Yes, sir.
That is not the same DIY.
Yours isn't ready-to-eat.
It isn't ready-to-eat, sir. It's ready-to-cook.
Tell me something.
- By chance, if you feel... - Hmm?
In a year or two, that the market is getting saturated
and DIY isn't doing well in India, what will you do?
- Um... - You have high ambitions.
- What is it? - I haven't told you about the beverage range yet.
- Oh! Then tell us. - Yes.
We're developing a DIY Beer Kit, sir.
Will you shut this down and explore other avenues?
- You'll think after two years. - I'll do something else, sir.
I have the zeal, sir.
- I see a clear road and... - Okay.
You do have courage but this is a niche business.
I don't know how the business will grow.
It's tough.
First of all, hats off to you.
You've single-handedly built a business of Rs. 10 to 20 lakhs.
- Thank you, sir. - You're profitable.
I don't know what you will do going forward,
but it will be fun to work with you.
Thank you, sir.
Then I would like to join Namita and Azhar
- in their offer. - Sure.
- So, Rs. 40 lakhs for... What was it - 20%.
20% equity.
As far as I know, if you can do this,
- you can do other things in this category too. - Yes.
So, I'll give you an offer too.
- Combined or separately? - Join us.
- Let's do it together. - Join us.
He needs a lot of help.
- All right. A combined offer. - Great.
- I'll combine the offer. - Four Sharks!
Now, we'll put Rs. 10 lakhs each
given the current state.
Your creativity and the lessons you have learnt
- will help you do well. - Yes, sir.
- I think you need committed guidance. - Right.
Someone fully vested in you.
- Do you use Instagram? - Yes, sir.
- Do you follow us? - Yes, sir.
- Do you know how I partner with my businesses? - Yes, sir.
- No matter what they ask for... - [Sharks laugh]
I dress for them. I wear their glasses and jewellery.
- I do whatever it takes. - Right.
- There's Sharma Ji Ka Aata on quick commerce that recently... - Yes
There are a few companies.
We got them all on quick commerce platforms within a month.
Their business is 4x.
So, here's my offer to you.
So, let's find a win-win.
Okay, you have two offers now. You need to decide.
Make your decision.
- Can I... Two minutes? - Yes, please.
- Thank you. - Quickly. Come back soon.
[music playing]
- Welcome back. - Hi, buddy. What's up?
Sir, my counter-offer to you four guys is this.
[tense music playing]
[uptempo music playing]
- Look what has come, Namita. - Yes.
Eyewear!
[hysterical laughter]
Oh my God!
Come on, Peyush! Eyewear is here!
Look at it!
Good gracious!
This is intimidating.
It sure is!
[theme music playing]
[music fades]
Hello, Sharks.
Today, we're going to talk about an industry
whose market size
Wonderful.
Welcome to the eyewear industry.
[music playing]
Greetings, Sharks.
At Intense Focus, we make design-focused eyewear
as well as provide varied colours.
We assemble the smallest of screws in all our products.
I see.
No brand in India is able to do it. We're that precise.
Sharks, Intense Focus is a rare brand
wherein the founder designs all the products.
to travel to China to source frames and sell them in India.
I've come this far today
Sharks, my ask is
with Intense Focus.
Thank you.
- So, Manish. - Yes, Sir.
- Good pitch. - Thank you, Sir,
Tell us more about yourself. You said that in 2017,
you received an offer from someone and now in 2023.
- Yes. - Tell us more about it.
You also said that
nobody makes it more precise than you. Tell me more about it too.
When I was 17 years old,
I was from a poor family.
So, we needed money.
While studying, I got a job at an eyewear shop.
- Rs 1200 monthly? Wow. - Per month.
Within 1.5 years, I learnt a lot.
That job is done on a small machine.
A machine worth Rs 5000. But I didn't have the money for it.
So, someone helped me by offering an installment.
I would work all day and make those eyewear at night.
- Wow. - In that shop.
In six months, I realised
that if I do this job all day,
I'll earn more than my salary.
I have always had a philosophy.
When I get a hold of something,
I focus very intensely on it.
Within 1.5 years, fitting spectacles
and how people want their eyewear,
I learnt all of it.
Number checking, eye testing, everything.
So, gradually, as I earned money
I set up a small eyewear shop.
Hmm. Interesting.
Which city are you talking about?
In 2009, I built a nice showroom.
The tenant
told me that
they want to invest in eyewear.
The tenant or landlord?
Landlord. Sorry.
They were two people.
I thought a bit and told them that I've never ventured into wholesale.
But we can give it a try.
I went to China for the first time in 2017.
We partly invested around Rs 1.30 crores.
Okay. How much equity did he take for Rs 1.30 crores?
When we started, the equity was 33 per cent each.
And today, we have
I learnt drawing completely.
Then after a year, when I
started interacting with factory designers
to give them suggestions about the design.
When my first design came out,
it was a hotseller.
Then I realized that
I have the talent to understand eyewear.
So, the shape of the spectacle
how broad or narrow must it be,
everything, I started working on it.
Sorry. A moment, just for clarification,
- you ran a retail showroom. - Yes.
They suggested a wholesale business by importing from China.
Yeah.
They invested for it.
- And you went to China. - Yeah.
- Is that right? Thank you. - Yes.
What do you do exactly? Are you a consumer-focused brand?
No, we're not in retail.
How big a business is it now in wholesale?
I started this
Boss, your eyewear has great swag.
- Let us try on a few. - Yes, Sir.
[music playing]
You don't wear spectacles.
- No, Sir. - Why?
- This is for you, Sir. - You don't market yourself.
Do learn this from Peyush.
- How to do marketing. - I've met Peyush.
When did you meet me?
When I go close to him, he will remember.
Sir, do you remember we met in the flight?
Oh, yes. Amazing.
Good. I'd say product is good.
Thank you, Sir.
The design sensibility is good.
The packaging is great too.
How much are these glasses for?
- Tell us the rates. - Yes.
Uh, this one is for Rs 3700 MRP.
- Rs 3700? - Yes.
And this one is for Rs 3200 MRP.
Isn't it in the higher range?
The ones on Lenskart are in a very different range.
- What's the difference? - The quality is very different.
Sir, please tell me how Rs 3700 justifies the price?
It's not that
- it's right or wrong. - Exactly.
Some brands position themselves at a higher level.
- Exactly. - The business he's doing
if I go deeper into it,
your current wholesale business makes Rs 15 crores.
So, I'm assuming that you sell stuff on credit.
To distributors and retailers. How long is the credit period?
It can be extended up to 140-150 days.
So, 150 days, so 5 months of credit.
For that, we have reputed distributors in place.
They pay us in 60 to 90 days.
They have 90 days' credit
and import stuff from China.
So, it has a lead time too.
So, approximately, the cash rotation--
The money is stuck for 4-5 months.
Not 5, cash is being rotated for 8 months.
We have to pay someone.
I believe that the costing for this
- is around Rs 600. - Perfect.
Around Rs 500-600.
But you have to pay Rs 3500 because
- the working capital is blocked. - working capital, credit cycle,
intermediary, a man takes a bag...
Lenskart runs its stores.
Yes, you feel that Lenskart is cheaper because
we don't have an intermediary layer.
- No, it's not like that. - So...
- You tell us. - I'll tell you.
This is Peyush's take. I'll share mine.
It's not so expensive as compared to Lenskart.
Designing elements
are missing in every brand.
I'm talking about eyewear in India.
Like the one in Peyush's hands
there's an acetate layer on top.
Designing elements have been added.
So, it can be sold at a high price.
Lenskart also started working on it in the last 1-2 years.
You can see it.
Okay, thank you.
Do you still import stuff from China and sell it or manufacture?
I have a manufacturing setup in India.
You said that there's a company into this wholesale stuff.
Yes.
- You hold 50 per cent there. - This is Intense Focus.
Along with this, you have another manufacturing business.
You manufacture it there and sell it to Intense Focus.
Yes.
And Intense Focus sells it further.
Yes.
Who owns that?
I have 23 per cent stake in it.
No, it's a different investor.
Understood.
The money you're here to raise is for which one?
Intense Focus.
It will be tough for the investor.
- But the equity in that company. - Yes.
- It's in your name and not Intense Focus. - No.
- You're making it tough. - It's in your name.
Yes, it's in my name.
So, the sales worth Rs 15 crores,
how much of it is from manufacturing facilities and China?
50 per cent of the revenue is production cost.
You said that it's a business, your opening line.
In which the gross margin is 70 to 75 per cent.
Yes? Hold on.
After that, a few minutes ago,
you said that your gross margin is 60 per cent.
Now, you're saying that
out of Rs 14 crores, Rs 7 crores is the cost of product.
- Sir, I said approximately. - Hold on. Approximately.
Brother, approximately means somewhere close.
I'm skipping 10 per cent
because I give that margin to my distributors.
You said that you import 80 per cent of the stuff from China.
If you wish to buy there and trade here,
many people can do it.
I'm not into trading.
What do you do?
I said 20-22 factories.
Every factory has a USP.
I use that USP.
For example, some factory makes great temples.
I give them the design and the temple is made for me.
The facilities available in India, where it can be easily made,
are only for 1 or 2 such materials.
If we talk about metal,
the electroplating required
won't be easily available in India in the next 10 years.
- Is that right? - This is wrong.
This is wrong.
You said it won't progress in 8-10 years but they're already making it.
We invested Rs 800 crores in building a factory.
He just said that metal spectacles are not made in India.
We can make it now, Sir. If there's so much money being invested.
Money comes later, you must have a vision. You have it.
Tell me what's your USP compared
- to other brands. - Designing, completely designing.
I'm sorry. I've seen many there and here too.
I don't see any USP
or anything different in your design and comfort.
All my products
have a different story.
I understand but if I visit your store
you won't be there to tell me the story.
I buy a lot of sunglasses, I'm very fond of it.
I didn't find anything unique about your design.
Most importantly, your target of 3000-5000
unless it becomes a brand,
it's a tough market to crack.
- Ma'am, shall I-- Okay. - Rs 5 crores at 5 per cent
is not in line with my thinking.
- I'm out. - Yeah. Okay.
Okay.
How much working capital have you invested in this business?
So this is not typical D2C.
- There's still an interim. - I'll explain.
How we can scale this business.
Recently, we
have finalized our distribution with Levi's.
There are many such brands in India.
They're not into eyewear yet.
It can be scaled to be very big.
But this knowledge is required for it.
Okay, how many units do you sell a month?
Around 15,000-20,000.
I have a limited inventory.
There's one person in every state and when he reaches there,
my inventory has almost run out.
You're expanding reach and expenses.
Isn't it better to capture the market share in one state
and make it 1000 points so that I can supply 3 times more.
That's how it happened.
I have a reach of 3000.
Out of that, the best 1000-1500
are the first to be reached out.
So, the average, if it's between 1500-3000
then it will become 10 instead of 5.
What I don't see in the data
is that the product is being demanded for.
It is being sold.
The numbers are low.
If I had funds,
and put a display like this,
then instead of 5, 15 will be sold.
- I'm not convinced yet. - Let's wind this up.
Manish, I heard you out.
So, my conclusion is that I'm out.
I'll try to explain my reasons.
Firstly, I noticed
that when Namita gave you feedback on the design,
you weren't so receptive
as much as I would expect a founder to be towards his customer.
[music playing]
- Good point. - Similarly, when Peyush
commented on your business. He is the king of this industry.
I didn't find you to be so receptive.
So, overall, my conclusion is that
you have strong views.
You don't entertain other views.
But the good part is that it's working for you.
Your business is doing well.
But if I join you in this journey,
I won't be able to add any value.
So, I'd like to be out.
[music playing]
Let me tell you something. This category
is very exciting.
But I have two problems here.
One is that
no matter how much you wish to scale your business,
you'll need 30 per cent of it as the working capital.
- Hmm. - Not yet, but you'll build
a business of Rs 15 crores.
- You invested Rs 5 crores from it. - Hmm.
So, if you build a business of Rs 500 crores in the future,
you will need Rs 150 crores.
The model has a problem.
and a manufacturing business with another investor.
[music playing]
- It's a big issue. - This one is selling to the other.
What will we manage, oversee, and expect?
It's not clear as to what's the gain.
[music playing]
So, I'm out. Good luck.
Manish, I'm out too.
The business is not investible as the defensibility is low.
But what you've created, for all the viewers,
they should be inspired by your journey.
You have built a business from Rs 1200 to crores.
I loved it! You're an amazing person.
- Thank you, Sir. - All the best.
Thank you, Sir.
You are at the right place, at the right time.
And when you came here, I saw the focus
that the investment is bound to happen today.
But right now,
you have to slightly
mould yourself.
You've already said 'I' more than 40 times.
[music playing]
I did this... I did that...
- So, you have to make it a 'we'. - Okay, Sir.
For that,
you'll have to believe that you know nothing.
[music playing]
I still believe that. You said that you make it with precision.
- Nobody makes it like that. - I feel that we could learn too.
So, I will study your products.
So, become self-aware.
Change your mindset and then we might meet outside and invest.
I won't invest today because I don't see that mouldability
- to... - It's alright, Sir.
to learn. I didn't see that.
Okay, Manish.
- Thank you. - Best of luck.
- Thank you. - All the best.
Good luck.
[music playing]
That is millets.
The magical millets.
You also know it as coarse grains.
Someone said that
if you eat right,
you won't need any medicines.
If you don't eat right,
then no medicine works.
But, Sharks, what is the right thing to eat?
Food that has been consumed by our ancestors.
Grains.
It's called superfood, supergrain,
superhero.
And it's been our staple food too.
But what happened?
In the attempt to promote rice and wheat,
these were forgotten.
We learnt about its benefits
when this superhero came into our lives.
And it cured Ajay's
bad health.
And also gave us an entrepreneurial chance.
- Wow. - And that's when
I became Millet Amma.
[music playing]
Sharks, millets aren't just a superfood
but are also considered a smart food.
Millets are a powerhouse of nutrition.
when apart from us,
the UNO, India and 70 other countries
realised the significance of millets
and take the benefits of millets to every household.
So, Sharks,
we urge you to join us in our revolution.
Our ask is
- Vegan pizza! - Yes.
Wow! Well done.
The darker one is Ragi and the lighter one is Jowar.
[light-hearted music playing]
Very tasty and not too sweet.
It is quite tasty.
Did your journey stem from a personal experience?
That's a big reason why we started Millet Amma.
So, in 2016,
my husband suffered from severe back pain.
The stress from the business
had led to high inflammation in the lower back.
It used to take me half an hour just to get out of bed.
I was not able to carry my two-year-old son.
I was just 40 years old at the time.
It was very painful both emotionally and physically.
A friend of mine suggested
that I go gluten-free for a few days.
I took that suggestion and switched to a detox diet.
- A few days... - For ten days, he went off everything.
He was only on a fruit and vegetable diet.
You saw a change in ten days?
- Yes. - A drastic change.
All the toxins were flushed out of my system.
The journey post that was to continue
a non-gluten based diet for some time.
That's when we discovered millets as an option.
So, that was the trigger for this venture.
- Yes. - Yes.
Consume millets because they are healthy and safe.
After a few years, people will say
that millets are not good, switch to something else.
So, I'm a bit confused
as to what I should or should not eat.
Peyush, for hundreds of years,
people in the villages of India have consumed jowar and other pulses.
A very gluten-free diet.
So, this isn't a fad.
It isn't a fad.
Farming of millets uses less amount of water.
- 10% as compared to rice and... - 10% lesser.
Sir, it's because of the Green Revolution.
When wheat and rice were heavily promoted,
then obviously, you know...
When the West promotes something,
usually, it takes over the entire market.
Tell me your respective backgrounds.
I'm basically from Kolkata.
I got married to him in 2003.
I moved to Bengaluru from Kolkata when I was five years old.
I did my schooling in Bengaluru.
After completing my BCom in 1997,
I worked for my father's family business for 20 years.
What was the business?
- Steel manufacturing. - All right.
Unfortunately, in 2016, everything came to a grinding halt.
It's going through a journey of bankruptcy.
Could you tell us what caused the bankruptcy situation?
In 2010,
the steel industry market crashed all of a sudden.
Owing to that, our inventory holding piled up.
The customers with orders in the pipeline backed out.
That wiped out 30-year reserves and working capital.
How much money?
Rs. 100 crores.
Oh my God!
How big was the business?
Around Rs. 1,100 crores.
You had a Rs. 1,100-crore business!
What was the name of your steel factory?
Bhuwalka Steel Industries.
What happened after that?
Dad made the decision to maintain the top line.
So, we started depending on private credit
- and vendor credit. - You took a debt.
Yes. That working capital was fine in the short term,
but pinning our hopes on it turned out to be negative for us.
From 2010 to 2014,
our overall debt had grown to quite a huge number.
Which was?
It was almost Rs. 300 crores.
- Ouch! - Whoa!
Owing to that, it just came to a halt.
Our bank accounts froze and all of that.
From then until now,
we have lost everything that Dad created.
All the assets including our house.
Are you debt-free now?
I've legally filed for bankruptcy.
Whatever is unpayable will be left.
How much is that?
About Rs. 100 crores.
Let's talk about your products.
What's unique about them?
We have quite a few millet products at home of different brands.
What uniqueness do you have which gives you the right to win?
Sir, we have four unique selling points.
Number one, our millet content is the highest.
Quantify it for your products and that of others.
Yes. Sir, it depends from product to product and the recipes.
We have the largest variety.
Tell us about your sales and unit economics.
How much have you invested so far?
Almost Rs. 3 crores.
You've been through a very rough phase.
How did you manage to save Rs. 3 crores?
Just curious.
I'll just say that my mom asked me to save up.
So, that was a life lesson.
I used to save some money every month.
Lovely.
Very nice.
I had kept that money aside.
That money came in handy during our difficult times.
These savings come in handy when bad times are upon you.
Well done.
Do you track your M1 number?
Say, you had x number of new users this month
who bought your product for the first time.
What percentage of those people bought your product next month too?
Do you track this number?
Sorry, Sharks. We don't have that number.
What's your vision, because you're in three verticals?
If a family wants to incorporate millets into their lifestyle,
they need a holistic offer.
So, you wish to offer customers a one-stop shop
or a range.
Yes.
Look, I tried to understand the business on my end,
but I found something to be fundamentally wrong.
If you look at it,
it has been six years since the business started
and the numbers are not growing.
And in any business...
Across all industries,
the one important number every business has
is the repeat rate.
I suggest that
you start tracking this number, please.
You're not tracking the most fundamental numbers in business.
Rethink the business.
I find something fundamentally wrong as of today,
and so I can't be a part of this journey.
I'm out.
I'm also out.
Firstly, it's great
that you restarted despite the adversities.
I think you need a reality check.
This business is not investable.
For the simple reason that as an investor,
I won't get an exit
because I don't see you getting that scale.
So, don't be disheartened.
Make good quality products.
This is not investable from my exit perspective.
- Thank you. - Thank you, ma'am.
I don't agree with Azhar
that you're not growing and your numbers are not showing.
I believe you're not measuring certain numbers.
It's not like you've gone from Rs. 2 crores to 4 crores
with really bad numbers.
Somewhere, you're doing good.
The problem is... You've come to ask for Rs. 50 lakhs.
- Rs. 1 crore. - 1 crore.
Yes, but it's not enough to grow the business.
It needs a lot more money
and a solid team.
I don't think
seed investment is going to help you.
So, I am out.
I genuinely think you're doing well.
So, scale it a bit further.
Get a strategic investor on board.
Exactly, that's what we want.
Best of luck, and I think you're on the right path.
I'll surely be a customer. Thanks.
I liked you guys.
You told us about the product in detail.
I didn't find the business really scaleable
as we moved on with the margin structure.
If I join you as an investor,
I don't feel I'll get a chance to make returns.
I could advise you separately beyond the Tank,
but I am out today.
Tell me this.
Do you have an idea of the projected sales and profit for next year?
We will grow organically in the same manner.
And in July...
You did good.
First three years, you struggled.
After 2023, you did very well at 100% growth
without additional funding.
Will you do it in the next year too?
- Yes, definitely. - Definitely.
Well done. I've understood your story.
- I liked your transparency and simplicity. - Thank you.
The struggles you faced in the steel business
gave you nerves of steel.
So, you're a seasoned player.
I don't understand...
Well, to build this brand,
- I think you need some support and some advice. - Right.
Why do you need money
and want to be embroiled in the same mess again?
I think it's a wrong move for you.
You need to hire a brand consultant.
This is not going to help you build the brand.
It's too weak.
The print isn't legible at all, right.
So, you need to seek help on that front.
I am out, but good luck.
I enjoyed listening to your story.
[sombre music playing]
All the best, guys.
Thank you, Sharks. Thank you.
Friends, welcome to Ask The Shark.
- Welcome, sir. - Thank you, sir.
Sir, today's question is by Shivansh Dighe from Pune.
He's a big fan.
He says, 'Hi, Azhar.'
- does not have a huge impact on your business. - Okay.
If you wish to get investment for the business,
your numbers are the only thing that matter.
If your numbers are good and you have customers...