'Coming up on Shark Tank season 2 this week...'
PadCare is the world's first such technology
that can process sanitary napkins and absorbent hygiene products
including diapers without burning them
at standard temperature pressure.
Genie is India's compact electric tractor
which helps farmers reduce their crop size
and increase their yield.
How much did a scrap merchant normally make?
He'd make around Rs. 30,000 to 35,000.
- Okay. - But they make Rs. 60,000 to 70,000 with us a month.
Managing curly hair for me has been a struggle since childhood.
"Noodles, witch, broom!"
- The name-calling happened daily. - My God!
When someone asks you which brand of flour you buy,
your answer should be, "Sharma Ji Ka Atta."
My milestone would be to buy out Byju's or Unacademy.
- Huh? - Phew!
I'll make you an offer.
- I will... - Oh, my!
I'll give you Rs. 60 lakhs but I want 10% equity.
- Wow! - I'll agree to 6%.
- Wow! - Whoa!
You're out, Anupam. Where did you come from?
- Rs. 60 lakhs for 5% equity. - Whoa!
I'll give you Rs. 1 crore. You decide the valuation.
I'll match the offer.
It has never happened on Shark Tank
that open offers are being made to an entrepreneur.
- Either you... - Wait. Don't write a cheque yet!
Look, I'll make the deal. Whether you want to is your call.
[intense music playing]
[theme music playing]
[theme music fading]
A woman spends five days a month
and approximately 5 to 6 years of her life
experiencing a menstrual period.
She consumes over 7,500 sanitary napkins in a lifetime.
Man has set foot on the moon,
but we still haven't found a solution
to dispose of sanitary napkins in a dignified manner.
Our ragpickers pick them up with their bare hands.
- Right. - But in villages,
embarrassment causes people to either burn or bury them.
It's a big environmental disaster.
A single sanitary napkin takes
up to 500 to 800 years to get decomposed.
Oh my God!
This means that the first manufactured pad in the world
is still lying buried somewhere.
[tense music playing]
To solve this big problem, I present to you PadCare.
[pleasant music playing]
Our PadCare ecosystem offers three products.
A decentralised PadCare Bin.
We have invented PadCareX by using reverse logistics.
It helps us reclaim
a very high quality of wood pulp and plastic.
That wood pulp is sold in the market in the paper and packaging industry.
The plastic can be converted into granules
and can also be reconverted into a PadCare Bin.
This product and the entire ecosystem
have been installed in cities, IT corporates,
educational institutes and major airports.
They can also be installed in housing societies.
At present, across 6 cities in India,
This technology and service
have received an expression of interest
from around the world. US, Canada, Singapore and African countries.
This is a global-level opportunity.
We need your help to take this global.
and dispose of pads without any worry.
- Wow! - Wow!
- Very cool. - Congratulations, Ajinkya.
- I am 26 years old. - Okay.
The family I belong to
has had a social and business background.
When I was five,
I was certain I wanted to do business
as well as create a social impact.
Where did you grow up?
I'm from a small village called Mhasla in Raigad district.
- I studied there. - Wow!
Have you worked before?
After I become a graduate,
I worked on an ISRO project for 11 months
in Grind Master Machines as an R&D engineer.
In July 2018,
I went to Pune to inspect a landfill.
Over there, I witnessed ragpickers
segregating sanitary napkins and diapers with their bare hands.
[intense music playing]
When I saw this scene at Pune's landfill,
I immediately called my mother
and asked, "How do you dispose of sanitary napkins?"
Okay.
She said she wraps it up and throws it in the dustbin.
That's when I realised
that while still maintaining women's health, hygiene and privacy,
we need to come up with a disposal solution.
On the back end, there is a method known as incineration
This kind of system is not scalable, sir.
So, after studying this entirely, I made a resolve
that this was my passion and my vision.
I wanted to provide all the women in the world
a dignified method of pad disposal.
- Wow! - I wanted to build a business
as well as introduce a recycling loop.
[uplifting music playing]
because it just feels really hard.
Merely imagining it is unfathomable.
I want to understand this because it's unusual.
Especially in our society.
about building a pad disposal machine.
- We're always open with each other. - So, your mom is your role model.
Yes, my mom is an inspiration as well as my role model.
[sentimental music playing]
'Everyone mocked me'
'because I didn't raise my son to think like a common person.'
'Our job as parents'
'is to merely help them realise their true potential'
'and inner strength.'
We mustn't force our opinions on our children.
[sentimental music playing]
When he was in the eighth grade,
he saw an advertisement for a sanitary pad on TV.
He immediately asked me what it was.
When I told my family
that I want to work on a sanitary disposal system,
I was in tears.
I think I was the only one who was crying,
whereas my family was happy.
There was a smile on their faces.
I felt that the world could not stop me
'Sanitary pads were needed every day for research.'
'I thought I'd have to seek the help of my friends.'
[sentimental music playing]
I feel that Ajinkya is a brother to all the women out there.
May God bless every girl with such a brother.
has become a reality now.
It's a moment of great pride
for any mother.
[euphoric music playing]
Let me show you a demo of how the product works.
What do women need at the time of their period in a washroom?
First, we have a vending machine
for them to access this product during an emergency.
Soiled sanitary napkins are to be disposed of by the users into this.
This is installed in all the WCs.
This is called PadCare Bin.
- Okay. - It stores hazardous waste for 30 days
- without any bacterial growth or smell. - Interesting.
[music playing]
No, sir. This material is ABS plastic.
Its durability is 5 years.
Sir, I guarantee you.
I have installed 4000 units
the government and a client called Praj Industries.
We started at 3 units.
Wow!
Today, we have 150 clients
- including Facebook, Capgemini and TCS. - Wow!
We recently installed it in Goldman Sachs.
They had a requirement of 400 bins
with fortnightly services.
- You said first in the world. - Yes.
- What is first in the world? - Yes.
PadCare is the world's first such technology...
That can process sanitary napkins and absorbent hygiene products
including diapers without burning them
at standard temperature pressure.
This is a demo machine just to show you how it looks.
[uplifting music playing]
The output is in the form of plastic.
Yes, the output is cellulose plastic.
I can't show you our internal videos.
Did you design and manufacture the complete machine yourself?
Design, R&D and trial are done internally.
We outsource manufacturing to vendors in Pune.
Wow!
I raised the first round in December 2020.
I raised Rs. 75 lakhs
I have a question. So, you segregate the pads...
- Yes. - You sort them.
Do you pick pads from places every day?
and replace it with a new PadCare Vap.
Now, it's ready to use for the next 30 days.
Let's start with the PadCare vending machine.
We make it in Rs. 8,000
and lease or sell it in the market.
That is one model.
But our core business
Rs. 1.05 crores.
Um, we are operating at a deficit of Rs. 5 lakhs.
- You haven't even done MBA. - No, sir.
Without doing an MBA, you have the answers to all the questions.
There's a dialogue in the movie 'Guru'.
"I'm the master of my trade."
You know the numbers and details of your business.
It is very good.
What's the problem in your business?
In the last three quarters,
we have seen 3 times the growth per quarter.
But we're not able to accelerate it.
We will have to build a team for it.
- Increase our strength, expand the R&D team... - No.
- For that... - No, Ajinkya.
I think there's a problem with your model
which is why you're unable to scale.
As far as my understanding goes, you have innovated a technology
to which there is no alternative in the world.
- Your technology is even patented. - Yes, sir.
If you solely do just technology licensing,
or you innovate similar technologies
for recycling and environmental sustainability
and license them globally,
that can scale the business rapidly.
Have you thought in that direction?
When we started this company,
I did an axis mapping comprising X and Y axis.
Either I will do the operations...
- Engineer. - Or I'll either decentralise the machine
or centralise it.
But the business
is up and running in Bengaluru.
We'll be starting it in Delhi.
This ecosystem wasn't available anywhere in the world.
As an entrepreneur, I wanted to prove
that this can be done.
[intense music playing]
You're just unbelievable!
What does your mom have to say?
Frankly speaking, before coming here,
she said, "Ajinkya, dilute the equity wisely."
- [Sharks laugh] - [mumbling]
- I'll make you an offer. I will... - Whoa!
- Oh, my! - Whoa!
I'll make you an offer. Your ask was Rs. 50 lakhs.
I'll give you Rs. 1 crore.
For 4% equity as asked.
Vineeta, we'll give
- Rs. 25 lakhs for 1% equity. - Okay.
With the same valuation.
Okay, Vineeta will speak now.
- Either you... - Wait. Don't write a cheque yet!
- You're a genius and you look like one. - Don't write the cheque!
Look, I'll make the deal. Whether you want to is your call.
Whoa! Lovely!
Tell me the amount. You've told me the dilution.
I don't wish to negotiate.
Ajinkya, I'll match the offer. I was about to give you that anyway.
Your mom said to dilute the equity wisely.
- Don't sell off the company. - Which is why
- That is... - We'll be your champion.
- Good. - We want to be your champions.
We will match the valuation you want.
We'll give you Rs. 25 lakhs equity.
We'll take 1% of the company.
0.5% for Namita and 0.5% for me.
And Rs. 25 lakhs debt.
- Wow! - Debt! Really?
You don't want Rs. 1 crore and don't wish to dilute 4%.
Take Rs. 50 lakhs if you want.
I call it a dream deal. 2% equity. We're done.
- What are you doing? - Here, take this.
- Take it... - What the hell!
It's too good to be true. It probably is too good to be true.
- Hello. Listen up. - So give...
- Return the cheque, no blank cheques. - Keep it.
- Give it here. - Listen.
They think they're birds and want to fly.
Let me clear up the confusion.
It has never happened on Shark Tank
that open offers are being made to an entrepreneur.
Take how much you want. That offer is Peyush's.
The third offer is by the women.
Namita and Vineeta together
for Rs. 25 lakhs debt
I am out.
You have so many offers to choose from.
So, choose any one, please.
If you want, we can offer you Rs. 75 lakhs for 1% each.
So, basically you don't want Peyush in!
- Take him in. - I can't do that.
We can do a four Sharks deal also.
[tense music playing]
You have one Shark, two Shark,
three Shark, four Shark... You choose
[intense music playing]
I want all four of you on board. Rs. 1 crore for 4%.
- Let's do it. - Okay.
- Great. Good. Good work. - Thank you.
- would bowl all the Sharks over. - Solid!
The pad man of 2022!
[hysterical laughter]
[song playing]
Here, it's money.
[song continues]
[theme music playing]
[theme music continues]
[theme music fading]
- Sharks, this is the soil of my motherland. - Wow.
It has given us so much.
It gave us employment and food
and also brought people of different diversities together.
Moreover, it also gave us promising potters.
Sharks, Indian soil
is considered the most fertile soil in the world.
It contains nutrients that protect us from fatal diseases.
Our ancestors have been cooking
in clay pots since the beginning of time.
But as time passed,
we began using cookware made of aluminium and other metals.
That deprived potters of their employment,
and us, of clay cookware.
But aluminium cookware
is no match to their clay counterparts.
Sharks, Swadeshi Blessings is an artisanal kitchenware
pot or any other cookware.
Moreover, we also have options
in marble as well as wooden handicrafts.
and make a name for ourselves on the global platform.
As also to build a large community of potters
and contribute to rural art development.
So, Sharks, to save this almost extinct art
and to infuse the essence of our motherland into our lives,
we present Swadeshi Blessings.
[uplifting music playing]
To fulfil our vision, we ask you for Rs. 50 lakhs
in exchange for 5% equity.
- She's my mother-in-law. - Ah!
- And he's my brother-in-law. - Okay.
I told her that nothing tastes as good as this food does.
She suggested that the potters are located nearby.
We should meet them and talk to them.
We went to them.
This was during covid.
They were undergoing a financial crisis.
She said helping them out once is not going to solve their problem.
We should take their art to the masses by way of the internet.
That would help them.
That's how the business was conceptualised.
Tell me about your background.
Sharks, I'm an MBA graduate from Amity.
I handle business development and product sourcing.
I am Sunita, a homemaker.
I am an electrical engineer.
I oversee the business, marketing and operations
along with my brother who helps me with finance and marketing.
- Isn't he here? - He has a government job.
He could not make it.
Do you work somewhere or do you do this full-time?
No, I work too.
Do all four of you stay together?
- No, I live in Delhi. - Okay!
I reside in Kankroli.
I live in Mumbai.
How do you handle things?
This demands great quality.
You need to nurture your relationship with the potters.
Listen to their problems, understand their pain and inspire them.
- It entails all of this. - That's your strength. - Yes.
How will you achieve this without staying there?
This seems like a part-time business to me.
- Right? - It is not.
This is an online business. We can run it from any location.
We share an emotional bond with the potters.
We meet them every alternate week or a month
when we go to give them orders.
We also meet them when we collect the goods.
We apply an extra layer of mud on the utensils
to reduce the breakage issue.
If you send 100 shipments a day,
how many items get damaged
or suffer breakage?
Our monthly breakage is around 3%.
Is it 3% for the exports too?
We export without a problem at 3% breakage.
Are the shiny pots glazed?
They aren't glazed.
- There is no glazing. - So none of it is glazed.
Is glaze harmful?
Because you are emphasising the fact that these aren't glazed.
Glass is ground into a powder and stuck to it
as a finishing.
And glass is made of lead
which is harmful to our health.
And the black-coloured ones are made of a different kind of mud.
The mud used is the same but the firing process is different.
The brown utensils are made by open firing
but the black ones are made by closed-lid firing.
The smoke remains inside and gives it a black colour.
Oh, wow!
Let me show it to you.
[inspirational music]
What's the difference between your product
and the ones we get in the market?
The roadside earthenwares are dye-made.
And we can't be sure what kind of mud they use.
Do you buy the clay or you collect it from the riverside?
We don't buy it. They get it near the village they live.
Do you think people are interested in earthenwares?
Of course, Shark! There has been a transition after Covid.
People have started focusing on their health again.
You mean to say that the utensils we use to cook are unhealthy.
When we cook food in aluminium utensils
and weigh it after two years,
- the weight would surely be reduced. - That's true.
Because the aluminium mixes in your food over time.
Are you taking steps to create awareness
so that people listen to you?
No, Shark! We aren't able to do marketing because of a cash crunch.
Until you do that,
it's difficult to create a market for these.
Shark, we have come here
because we need funds to do marketing.
Please share your sales figures with us.
We started our business in 2020.
Shark, it's frying pan.
What's the packaging cost?
Alright! How much did you earn through export?
Talking about revenue,
Your profitability
is only because your business is an export business.
Creating a market for your product in another country
and scaling it up at a high level
when you are in India is a difficult task.
Shark, we aren't at a loss. We are making 20% profit here.
No. That's impossible.
It's not possible because your overall net profit is 10%-15%.
How do you handle the export business?
I want to understand your export business.
We are listed on Etsy for export business.
Also, we are available in the US, the UK,
Canada and Singapore through Amazon's website.
We have listed ourselves on eBay too.
We completed our registration on Walmart
and we'll complete our listing by the month-end.
Making a Rs. 3-crore business with zero marketing
without quitting your job
is just commendable.
We haven't outsourced a single job in two years.
Well done.
But you have a job.
- Despite that, I give the business 6 to 7 hours daily. - Good.
- I haven't taken a single day off in the last two years. - Wow!
Once this investment comes through,
will you alone quit your job or will your brother quit too?
First, I will quit and he will quit after me.
I feel you can do better with the branding.
You have not done any branding on your product.
- Okay. - You should etch Swadeshi Blessings onto it.
I am out
because I feel someone from here will give you an offer
to help you better.
But I wish you the best.
Please do come to our office
and tell our team how you achieved this.
I am fond of what you're doing.
You are helping potters and creating employment opportunities.
You possess innocence, you work hard and have goals.
But I don't see a market in India.
I would say, for the next two years,
focus solely on the export market.
That's where you'll make the margins and the business.
That will help you understand.
And then when you bring it to India, it will be a game-changer.
I won't be able to join you today for the reasons I cited earlier.
So, I'll be out, but I wish you the best.
Create more employment opportunities and good luck.
[intense music playing]
Vineeta, come here for a minute.
I'm out too.
There's a popular line in India,
"Today it's Pooja, tomorrow, it'll be someone else."
My point is the customer will buy this today,
but something else tomorrow.
You can never know.
There must be an emotional connection with every brand.
The love is for the soil right now,
and later, it will be for your brand.
But when the two combine, the outcome will be mind-blowing.
Namita and I wish to make you an offer.
We will offer you Rs. 25 lakhs equity
for 5% of the business.
2.5% for Namita and 2.5% for me.
We'll give you Rs. 25 lakhs debt
which is at a nominal interest rate of 12% per annum.
If you can't work on this full-time,
we wouldn't get the confidence
that this business can go to the next level
as compared to where it is now.
6 to 7 hours a day is not going to work.
The offer is conditional on that.
I'd like to add one more thing.
I have invested in Rare Planet.
This will be a perfect fit.
- Sure. - But your marketing is very weak.
You'll also need to work on your products.
Your pan was very small and really heavy.
Imagine a bigger pan!
So, are you open to all these suggestions?
Absolutely, Sharks. As I said, we aren't here just for the investment.
Along with the investment, we also need your mentorship.
Decide what you want to do.
Sharks, could we take a minute to decide?
- Yes, please. - Sure.
[tense music playing]
- Hello. - 'Hey.'
- We've received an offer. - 'Okay.'
- Vineeta, the last year... - But you should have taken...
- We should have taken more equity. - You should have taken 10%.
- I'll tell you why. - Why did you take 5%?
- He's right. Last year's sales were Rs. 2 crores. - What are you doing?
[intense music playing]
Welcome back, guys.
We have a counteroffer.
We were just saying we took less equity.
It's a small difference.
Yes or no, guys? It's non-negotiable. Up to you.
[intense music playing]
Okay, Sharks. Deal.
- Awesome. - Congratulations.
Thank you so much. Thank you so much, Sharks.
- Bye. - Name it Mitti (soil).
Okay, thank you.
Such a common name.
That's why! The most obvious things are not taken.
Yes.
[theme music playing]
[theme music fades]
9.8 crore children in India graduate from school every year.
Out of that, 7.2 crore children
don't possess important skills like technology and creativity.
Why? One, due to the lack of awareness about skill development.
Second is that not everyone can afford expensive classes.
Third and most of all,
teachers are not available.
That's when I resolved to create a platform
where skills are practically taught
to keep up with the fast-growing world.
with the ability to fulfil their dreams.
So, Sharks,
my ask is Rs. 30 lakhs for 2% equity in OLL.
[Sharks laugh]
Mr. Daga, how old are you?
Sir, actually, my journey of being an entrepreneur
began when I was eight.
Eight years old!
That is when I started selling my paintings.
It was my first income. Rs. 9000.
Then in seventh grade,
I did an internship with the stock market.
- I researched on companies... - Buddy!
Tell us your age. Why are you messing with us?
- What is your age? - How old are you now?
In the ninth grade...
[Sharks chuckle]
- Great. - I started giving loans in school
at 45% and 50% interest.
Whoa!
[chuckles]
Why are you being slippery? Tell me your age.
- I'm 18 years old. - Thank you.
I turned 18 just 20 days ago.
- Oh my God! - Happy birthday.
Do you attend college?
No, I dropped out of school after tenth grade.
My focus lies in working on OLL full-time.
What does your dad do?
Dad is an investor.
Angel as well as the stock market.
He gave me my first Rs. 2 lakhs to start the business.
We returned it to him multifold.
Please tell us about your business.
Okay. We have six hero workshops
which we present through schools.
These workshops are robotics, coding,
public speaking, financial education...
All essential skills of the 21st century.
They are all live group online classes.
If the school makes it compulsory,
then we can provide it offline too.
What is the average tuition fee of the schools you cater to?
It's Rs. 20,000 per year.
An entry-level school.
When we go through schools,
we charge Rs. 2000 per child for a year.
We made a revenue of Rs. 2.2 crores in two years.
In 28 months.
- What about last month? - Rs. 28 lakhs revenue.
Actually, our net margin was Rs. 18 lakhs.
- You're a champ. - Oh my God!
How did you achieve it? Do you teach?
No, we partner with teachers
and the teachers get higher than expected per-hour payment.
Shreyaan, let's suppose
a child from a small town attends school
and pays a fee of Rs. 2000.
What is missing here that you bring in
for which the school pays you?
The first value add is there's a live teacher.
In the course, every child creates ten practical projects
and once the course is completed,
they get a certification from STEM and UNESCO.
Give us an example of a practical project.
If they are studying mobile app development,
then they are creating a game instead of playing a game.
If they are learning AI, they are creating something like Siri
for themselves.
- Isn't this WhiteHat Jr, Anupam? - Yes.
- This part is. - WhiteHat Jr was doing exactly this.
Can you please show us your app?
Basically, it's our website.
[thrilling music]
You will see our skill menu as soon as the app is opened.
Wow! At this age!
You may check the details like
the teacher, their rating
and the age group for the course.
[thrilling music]
It consists of 14 classes. 60 minutes per class.
How many teachers do you have?
We have 300 active teachers right now.
When our revenue was Rs. 2 lakhs per month, in the first round
we went into an accelerator.
Accelerator gave us a valuation of Rs. 3.2 crores. We gave them
We'll bring our B2B compulsory orders to a higher rate.
Then we'll introduce our students
- to other courses through the marketplace model. - Alright!
It would increase our upselling and cross-selling.
- Got it! - Okay?
Every child is buying four to five courses
right now. Our retention rate is 41%.
[sweeping music]
We are looking for a higher scale as an investor.
We can come in as a mentor
and help you.
We can be your cheerleaders but as an investor
scaling up will be a problem.
And for that reason, I'm out.
I had no idea how to go about my life.
After a few years, you can be something great.
You already have investors who can guide you.
I can't help you right now because
I don't have expertise but I just want to say,
keep at it. Do whatever you are doing.
You'll learn a lot.
Keep doing it.
I want to congratulate you on that. I salute you.
Now let's talk about your business.
Unfortunately, I fail to understand it properly.
I'm confused
because I don't understand what you are trying to build.
You already have the funding.
So I'm not sure about my role in it.
I wish you all the best
and you'll certainly make a mark.
So good luck!
One of my milestones
is to acquire BYJU'S or Unacademy.
What?
Do you know BYJU'S valuation?
It's 22 billion dollars.
And what's your goal regarding your valuation?
He already said that he wants to reach 1 billion people.
Can I say something?
Sir, actually, the competition
is gradually collapsing
- because funds aren't available in the market. - Good point!
He is too sharp!
- You are an amazing guy. - I agree!
You won't run your business at a loss.
- You won't! - Yes! I'll run it profitably.
- Another thing is... - Please complete your answer.
What was your point? I'm really so amazed by your answer.
I have never met anybody like you in Shark Tank.
Ever since the funding break,
big companies who were
our biggest competitors
like Lido Learning, Crejo. Fun
- and SuperChamp. - Please don't rub salt into my wounds.
[laughing]
and said that I wanted to buy his company.
Who did you call up?
- Gosh! - Crejo. Fun!
Alright!
He said that he didn't want to sell the brand.
Let me tell you the reason why we stopped.
It was because of the customer acquisition cost. He said so.
So have you started buying companies now?
- No! - Peyush!
- Either make an offer... - Please make a decision.
- You may talk later. - Let me tell you my decision.
Rs. 10 lakhs for 2% of your business
and Rs. 20 lakhs loan at 12% interest.
because I genuinely don't have an interest in it.
I'll do the same as Vineeta.
Even I offer you Rs. 10 lakhs for 2% equity.
We may give Rs. 10 lakhs each
for 2% equity to each of us and we'd give you Rs. 10 lakhs as a loan.
[dramatic music]
Let's convert it. Rs. 30 lakhs for 6% equity.
- We removed it. We got rid of it. - We agreed to your condition.
You asked for 6% and I offer you 5%. Rs. 30 lakhs for 5% equity.
Congrats, man!
- I think we'll soon be scolded. - You negotiated so well.
- The three Sharks will scold us. - Good job, my friend.
No! Please!
- Thank you so much! - Congratulations!
- Good luck, bro! - Where did you buy your glasses?
- Sir, they are local. - Alright!
- At least he's honest. - He's a kid.
- Great! All the best! - Good job!
- Bye! Thank you so much, guys! - Bye! Thank you!
[inspirational music]
[ethereal music]
that I must be wearing boring blue-coloured loose clothing,
carrying a stethoscope in my hand with a serious expression.
Healthcare is such an industry
where irrespective of your profession,
one emotion is common.
And that emotion is the fear of the untoward.
Your fearful disposition
and our non-attractive first look
turn the hospital gloomy.
To turn the gloomy environment positive
and to make the life of our healthcare workers colourful,
functional and safe, we introduced Febris.
[sweeping music]
- Whoa! - Woo-hoo!
Febris is a medical lifestyle brand.
It makes uniforms for healthcare workers
like scrubs, lab coats,
scrub caps, patient gowns
and items required by them on a daily basis.
The fabric used by us in making scrubs
Also, we made our website live in the US.
Sharks, our ask
to make us the number one
- medical lifestyle brand not just in India but the whole world? - Wow!
I'd like to call my father,
the director and co-founder of Febris Solutions Private Limited.
Alright.
Greetings!
Greetings! Welcome!
- Thank you, sir! - Thank you very much!
Are you practising as a doctor
or you're focusing just on your business?
No, sir. I'm practising as a doctor at the district hospital, Firozpur.
I have been practising for the last nine years.
Do you have a specialisation?
- Anaesthetist! - Anaesthetist!
I saw the same business in Shark Tank, the US version.
Were you inspired by them?
There's a big brand for scrubs in the US.
- FIGS! - FIGS!
How did you get the idea?
Sir, I went to pursue MD in 2010
at the government medical college, Patiala.
Being an anaesthetist, we had to wear scrubs daily
in the ICU or the OT.
Either we could wear what the hospital provided or we could buy.
And it was available in just one colour which is sky blue.
Then I decided to choose a colour for myself
that is functional. And I got a navy-blue colour dress.
Around 50-60 people were pursuing MD in different branches.
After I started wearing the new uniform, two months later
70% to 80% of people started wearing navy-blue dresses.
I chose that colour because it was a darker colour
which increased its functionality and it would appear less dirty.
Plus it fitted nicely so a person looks smarter.
Didn't the hospital management think of providing a different colour?
Sir, the hospitals don't procure them
because the ordinary low-quality scrubs
are available in the market for Rs. 600 to Rs. 700.
to check their quality.
We have sold these in bulk to the hospitals too.
How big is the market for scrubs in India?
Sir, it's Rs. 3,000 crores.
So the remaining market is for Rs. 600 crores.
How many hospitals bought these from you in India?
The number of hospitals is ten.
In India, there are hospitals in lakhs.
Why did only ten of them tie up with you?
[dramatic music]
Ma'am, currently our range is an expensive one.
Now we have started using a different kind of fabric
so that we could reduce the price to Rs. 1,200 or Rs. 1,300.
And we may sell those products to the hospitals at Rs. 1,200
which earlier bought products costing Rs. 700 to Rs. 800.
[sweeping music]
Doctor, what do you want to do?
Do you want to practise as a doctor or do business?
I'm genetically programmed to do business
because I was born into a business family.
Okay.
I studied medicine
to fulfil my grandfather's dream of making one of the children a doctor.
First, I fulfilled his dream and now I'm fulfilling mine.
Wonderful!
If I feel that my business is suffering because of my practice,
I'll stop practising as a doctor.
What is your current sales figure? And how do you achieve it?
You gave Rs. 40 crores valuation to your business
so what is the logic behind it?
- If we achieve Rs. 2 crores this year... - In case!
- Sir, we'd achieve it as we have already made Rs. 70 lakhs. - Okay.
Our target for the next year would be Rs. 4 crores.
If we achieve Rs. 4 crores, our profitability
that is the net revenue would be Rs. 1.20 crores.
Let's make it Rs. 1 crore because the future profit
can't be guessed.
You want 40 times the valuation of the profit you'd make 2 years later.
That's not the way to calculate valuation.
[adventurous music]
Isn't it too much?
They could ask for anything.
[thrilling music]
I'm just trying to understand your logic.
Doctor Vishal and Mr. Girdhar Bajaj, I'm out of this business
because I don't think you have the seriousness and focus required.
It seems you are just testing the waters.
Even if I practise from 8 am to 2 pm,
my focus is my business.
That's not good as you might administer the wrong injection.
[adventurous music] [laughing]
You'd be worried about your business
while giving an injection and it could have a serious impact.
I know the hospital industry
and its profitability well.
They have huge cost pressure.
[tense music]
Even if you bring down the price to Rs. 1,100
but they are in the habit of buying them for Rs. 700,
it's difficult for you to fill the gap.
In your business, 80%
of the orders will be from hospitals in India.
I think it's a difficult task.
So I don't see the potential in you
and for that reason, I'm out.
about its growth.
You are at an early stage
and you are not doing it full time so I'm out.
Thank you, ma'am.
I think your valuation is unreasonably high for one.
Secondly, I find the market to be too small.
We agreed on a figure of Rs. 600 crores in the beginning.
It's difficult to create a big business in such a small market.
You may turn it into a cash-flow business.
If it grows three times, you may easi earn up to Rs. 10 lakhs per month.
So it's not a bad business.
From my point of view, it's not investible
so I'm out.
Congratulations to you for making this business. Good luck!
- Thank you, sir! - Thank you!
- Greetings, Mr. Girdhar Bajaj! - Thank you!
'Let's watch Shark Xperience.'
'Vineeta, Arnab from Kolkata has a question.'
'I want to raise investment'
'but I'm scared of diluting my equity.'
'What's your advice for early-stage businesses like mine?'