How is P-TAL Doing After Shark Tank India Season 3?

Founder/Owner: Aditya Agarwal, Kirti Goyal & Gaurav Garg
Business: Utensils
Ask: ₹50 lakhs for 1% Equity
Valuation/ Networth: ₹50 Crores
Funding:₹1 Crore for 3.2% Equity
Sharks: Aman Gupta, Anupam Mittal, Amit Jain, Namita Thapar & Vineeta Singh
Episode: Season 3 Episode 50

P-TAL Shark Tank India Pitch:

P-TAL is an Indian startup that appeared on Shark Tank India Season 3 Episode 50. They started in 2019 as a college project. P-TAL specializes in Authentic Kitchenware, cookware, dinnerware, and Drinkware utensils made out of Brass, Copper & Bronze. The founders shared that the food cooked in these utensils retains 93% of nutrients compared to 13% in other utensils. They have increased the income of some artisan families from ₹2000 to above ₹25,000 by creating this brand and sourcing products from them. The founders sought an investment of ₹50 Lakhs for 1% of the company valuing the business at ₹50 Crores.

P-TAL’s Financials & Revenue during Shark Tank India:

P-TAL’s Hero product is a water dispenser which contributes to 12% of the total revenue. It is priced at ₹6,360 for 3 liters, ₹7,430 for 5 liters & ₹9,500 for 10 liters. Their products are also naturally non-stick without Teflon coating. The founders shared that consumers purchase their products due to health benefits, Enhanced Taste, and Design. Also, P-TAL has an average order value of ₹4,500 from India and ₹21,000 from the international website.

P-TAL made revenue of ₹21 lakhs in FY19-20, which was also their first sales year. The following year, they recorded revenue of ₹85 Lakhs in FY20-21, followed by ₹2.76 Crores in FY21-22 and ₹3.98 Crores in FY22-23. For FY23-24, They have already made revenue of ₹3.9 Crores till October 2023 and projecting to close the year at ₹9 Crores. Moreover, They made revenue of ₹72 Lakhs in the Month of September 2023 with 15% net profit. Furthermore, P-TAL has recently closed their seed round lead by Titan capital where they raised which was closed at ₹30 Crore valuation.

As for Unit economics, Raw material takes about 28%, 15% goes in payment of Artisans, 1% goes in inward logistics leaving them with 56% gross margin. They also spend 2% on payment gateway charges, 2% goes in channel margins, 1% goes to packaging costs, and 10% shipping leaving them with CM1 of 41%. Moreover, 12% goes to marketing leaving them with 29% CM2. After deducting 5% rent, 15% salaries, and 3% miscellaneous, they are left with 6% EBITDA.

P-TAL Shark Tank India Negotiations & Funding:

Anupam gives the first offer of ₹50 Lakhs for 1.67% matching the valuation of their last round. Aman puts in the second offer at ₹50 Lakhs for 1.5%. Anupam matched Aman’s offer. Namita and Amit also give the same offer. Vineeta comes in at ₹50 Lakhs for 1.4%. The founders asked if they could all come together. All sharks come together to offer ₹1 Crore for 3.2% which founders accepted without any hesitation.

Who are the founders of P-TAL?

Aditya Agarwal, Kirti Goyal & Gaurav Garg founded P-TAL. Aditya graduated from Sri Ram College of Commerce in New Delhi. Kirti has studied design, and Gaurav has done Civil Engineering.