Shark Tank India pitcher, who let go of Rs 1 cr salary to start business, blames ‘sharks’ of low expectations, Aman Gupta says ‘Aap alag ho’ 

Also Read: ‘Aman Gupta said I was doing time pass’: Shark Tank India pitcher on why he cut Aman short, inked Rs 1.5 cr deal with Namita Thapar

 

View this post on Instagram

 

A post shared by Shark Tank India (@sharktank.india) 

What didn’t go in Pankaj’s favor was when he revealed that three of his ex-colleagues also invested in the brand. While he discussed unit economics, Anupam pointed out how the founder has a very low gross margin. The founder explained they make an EBITDA of 14-15 percent. He went on to share how, at the moment, their profit was flat.

Sharing their revenue, the founder said, “In 2024-25, they made Rs 77 lakhs, and Year to Date, sales have been worth Rs 5.6 crores.” On learning this, Aman said that their revenue is good, and Hardik added that the founder is making good money. However, Anupam pointed out that revenue will be considered good only if he makes a profit.

The founder says he earned a Rs 1 crore salary before starting this company

Anupam Mittal opted out of the deal and said, “This bet of yours about the Indian circular economy moving from unorganized to organized, firstly, the question is by when will this happen? Secondly, if it happens, who will win in this? Unorganized sectors have small players, but someone above them has a relationship with the buyer. When you organize this, who scales the most is yet to be seen because these low-margin businesses are of massive scale. I cannot understand how this will happen, so I am out.”

Kunal Bahl also added, “It’s an interesting sector. I see this as a huge benefit from Shark Tank India’s platform, that I get to learn so much. The challenge here is that value addition is not too much, and that reflects in the margin. Since I cannot see that, I am out.” Namita Thapar adds, “Pankaj and Kiran, this is a real problem in this sector, but for an investor, it’s not attractive because of the margin profile. I would like to say that if you don’t get an investment here, don’t be disheartened. I am out because I don’t think an investor would make money in this sector.”

 

View this post on Instagram

 

A post shared by Shark Tank India (@sharktank.india) 

After Namita’s feedback, the founder assures that in one year, he will integrate the sector through EPR (Extended Producer Responsibility). Soon after, Hardik Kothiya says, “You missed the biggest point. The good thing is that a tyre has a short life span, so one would need to recycle it. Manufacturers would need EPR, but where do you see this in three years?” The founder explained that in 2025-26, he will make a revenue of Rs 13.5 crores, in 2026-27, the sales will reach Rs 50 crores, and in 5 years, revenue will be Rs 1000 cr.

While Namita and Aman laud his confidence, Hardik adds, “I have a few issues. How will we work on your capital structure? I am interested in this business, so I can invest, but what will your three partners do?” Anupam quickly said, ‘You buy them’, and the investor chimed in with the suggestion and asked Hardik to buy the company. He said, “You can buy all five of us.” When Kunal asked if he wanted to exit the business, Pankaj added, “I will run the business. I just suggested that he can buy the full company, and I can work as the CEO. Before I started this company, I used to earn a Rs 1 crore salary. This is something I am doing for society, Planet Earth.”

 

View this post on Instagram

 

A post shared by Shark Tank India (@sharktank.india) 

Namita also asked, “Why do you want to sell it then?” The founder added, “If I know someone will take this forward, I am ready to give all of this up today, now itself.” Later, Aman asked him how much he would sell the company for. The founder said, “I didn’t think about that when I came here.” Later, Hardik offered him a deal of Rs 1 crore for 15 percent equity.

Aman also decided to exit and said, “Your sale is decent, confidence level is solid, you have the courage one needs, but this seems like a cash and connection industry to me. I don’t know when it will change, so I am out now.” Responding to Hardik’s offer, the founder said, “I don’t need money; you can make a conditional offer. My counter is Rs 1 crore for 6 percent at the most.” When Hardik said he could give Rs 1 crore for 12 percent, Pankaj refused the offer.

Lauding his courage, Aman Gupta said, “Aap alag type ke ho.” After exiting from the tank, the founder explained, “His deal’s valuation was very low; if I get a good valuation today, I will be able to raise the company’s value further. I tried to move a step forward, but their expectations were much lower, so I did not accept it.”

DISCLAIMER: This article discusses business models, revenue figures, and investment discussions featured on Shark Tank India. Please note that the market analysis and financial data shared are for informational purposes only and do not constitute professional investment or financial advice. We recommend consulting with a SEBI-registered financial advisor before making any investment decisions.