- Founder/Owner: Major Anil Kumar Malik
- Business: Apparel & Technical gear
- Ask: ₹80 Lakhs for 2% Equity
- Valuation/ Networth: ₹40 Crores
- Funding: ₹40 lakhs for 2% + ₹40 lakhs debt @12% interest for 2 years
- Sharks: Aman Gupta & Amit Jain
- Episode: Season 3 Episode 42
SPEC OPS Shark Tank India Pitch:
SPEC OPS manufactures and sells Apparel and technical gear designed for the toughest military operations. Their product line includes stretchable cargo pants with multiple strategic pockets which aid organization and provide quick access. The founder sought an investment of ₹80 Lakhs for 2% of the company valuing the business at ₹40 Crores.
SPEC OPS offerings include sports apparel for multiple army regiments and operational-specific technical products. This includes tracksuits, T-shirts, Shorts, socks and Caps. They currently manufacture around 300 SKUs. They also have a WAR MONGER line serving more affordable products.
SPEC OPS Revenue & Financials during Shark Tank India:
SPEC OPS made a revenue of ₹6.26 Crores in FY22-23. They did ₹70 Lakhs in August 2023 and its important to note that their pitch was shot in September 2023. The company clocked in a revenue of ₹5.6 Crores in FY21-22 and ₹2.95 Crores a year prior. Gross margin is 20-22% and net margin is around 8%.
SPEC OPS makes about 30% of their total sales just from cargo trousers, 20% from tactical shirts & 20% from regular T-shirts. At the time of their pitch, the company operates entirely on bootstrapped funds. Additionally, the founder disclosed that they are in the advanced stages of securing an ₹8 Crore order to fulfill within 3 months.
SPEC OPS Shark Tank India Negotiations & Funding:
Namita was the first shark to go out citing it is not an investable business at this stage and there will be challenges in scaling this. Aman gives the first offer of ₹20 Lakhs for 10% of the business valuing the company at ₹2 Crores and the rest as debt at 12% for 2 years. Amit also puts out an offer of ₹50 Lakhs for 5% and the rest as debt at 12%.
After some discussion, Aman revised his offer to ₹30 Lakhs for 2% valuing the business at ₹15 Crores and the rest as debt with the same terms. Anupam goes out citing he couldn’t even justify ₹15 Crore valuation at this stage. Vineeta shared the same sentiment therefore she goes out as well. The founder countered with ₹80 Lakhs for 2% to both Sharks which was same as his initial ask.
After discussing between themselves, Aman and Amit came together to give a joint offer of ₹40 lakhs for 2% equity valuing the business at ₹20 Crores and the rest as debt for 2 years at 12% interest. The founder accepted that offer and they shook hands on that.
Who is the founder of SPEC OPS?
Major Anil Kumar Malik founded SPEC OPS. He is retired special forces soldier.
How is SPEC OPS doing after Shark Tank India?
Our research in the SPEC OPS revealed that while they did get a deal on Shark Tank India, whether that deal closed after the show is still unclear. As of May 2024, The company’s website is down so it is very likely that they either scraped the D2C project or are planning a later launch. They still however have some products available on Amazon which you can check out by clicking the Amazon button below!
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Here are other companies from Season 3 Episode 42.