- Founder: Adil Qadri
- Business: Perfumes
- Ask: ₹1 Crore for 0.5% Equity
- Net Worth/Valuation: ₹200 Crore
- Funding: ₹1 Crore for 1% Equity
- Sharks: Vineeta Singh
- Episode: Season 3 Episode 1
ADILQADRI Attar Shark Tank India Pitch:
Adilqadri is an Indian startup from Bilimora, Gujarat, which appeared on Shark Tank India Season 3, Episode 1. They are famous for creating unique, long-lasting, modern, and premium packaged Attars. They process more than 3000 orders per day. The founder shared that their Attars are best sellers on Amazon and Flipkart. They also have retail outlets in Mumbai, Gujarat, & Dubai. Adilqadri has shipped over 10 Lakh orders since their inception. The founder’s vision is to go mainstream and become a well-known Indian Attar brand. The company sought an investment of ₹1 Crore in exchange for 0.5% equity, valuing their business at ₹200 Crores.
Adilqadri’s consumer base is 95% male population. They had a 3.8-star rating on Amazon. They had 62 thousand followers at the time of the pitch on their Instagram, but the founder, Adil Qadri, had another 1 Lakh and 25 thousand followers on his personal account, which he shared the company also utilizes to run advertisements and promotions.
ADILQADRI Attar Shark Tank India Financials:
In August 2023, Adilqadri made ₹6 Crores in revenue. The founder added that their annual revenue run-rate is between ₹80-90 Crores, based on which he asked for ₹200 Crore valuation. 95% of their sales come from online, and 5% through offline channels. Their average order value is at ₹800. Out of which, they spend 30% on COGS, 40% on Marketing, 14% on shipping, and another 20% are operational costs, leaving them negative in EBITDA.
For the previous year’s revenue, Adilqadri made ₹5.3 crores in FY20-21 with 3.5% EBITDA. However, they closed FY21-22 at ₹10 Crores with 1.5% EBITDA. The company shared that they closed their last financial year (22-23) at ₹20.7 Crores with 1% EBITDA. They would be -5% EBITA by the end of this year. Adilqadri had a debt of ₹6 Crores, which they raised from Non-Banking Financial companies.
ADILQADRI Attar Shark Tank India Negotiations & Funding:
Anupam was the first Shark to go out of the negotiations due to heavy debt and the unconventional margin structure of the company. Aman goes out, citing concerns with margins and lack of defensibility from mainstream brands. Namita couldn’t relate to the product; therefore, she went out. Amit felt like this was a performance marketing company but not a brand or a product company; therefore, he wasn’t interested in making this deal.
Vineeta was the only shark left who was interested in the company but she adds that her offer would come with a condition that the company would need to stop burning money and bring the profits to at least 1%. With that, she offered ₹1 Crore for 1% of the company plus a royalty of 1% of net revenue on each product sold till her ₹1 crore is repaid. Adil Qadri accepted that offer without any hesitation.
She also commented called friendly shots on ISAK fragrances, which Peyush Bansal invested in Season 1. You can read about how they are doing now here. She also commented that she is betting on the founder, and she can help Adil come out of this debt trap.
Who is the founder of Adilqadri?
Adil Qadri founded Adilqadri. He is from Bilimora, Gujarat, India. Adil is 29 years old at the time of the pitch. He started his business from the gallery of his home. He also shared that he dropped out in grade 5 due to asthma.
How is Adilqadri Attar doing after Shark Tank India?
Our research in Adilqadri revealed that whether their deal with Vineeta is still unclear as they could still be in the due diligence phase. The company is experiencing the strong Shark Tank effect as they have gained over 10 thousand and Adil Qadri gaining over 30 thousand followers within the first 12 hours after their Episode Aired. We will update this article within the next couple of months after verifying if their deal with Vineeta went through and report back on revenue after the show. In the meantime, you can check out other companies from season 1 & 2 to see how they are doing now!
You can also check out their perfumes by clicking the Amazon button below!
Source: Instagram @adilqadri_perfumes
Here is how other companies from Season 3 Episode 1 are doing?
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