- 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.
How is P-TAL doing after Shark Tank India?
Our research on P-TAL revealed that while they did get the deal on Shark Tank India, whether that deal was finalized and closed is still not clear. Early signs, however, suggest that the deal has not gone through, but this could very well be because they are still in the due diligence phase. We will update this article with their revenue and final verdict once more information comes to light. In the meantime, you can check out season 1 companies and Shark Tank India products by clicking the Amazon Button below!
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Source: Instagram @ptal.in
Here are other companies from Season 3 Episode 50.