Shark Tank Desmondji
In this episode of Shark Tank India Desmondji, an Indian alcoholic brand presents the pitch. Will the founder get a deal from the sharks? To know about the deal read till end.
|
Company name |
Desmondji |
|
Founders |
Conrad Braganza and Desmond Nazareth |
| Ask |
₹1 crore for 1% equity |
Desmondji Founder
Conrad Braganza and Desmond Nazareth are the founders of the company. They are from Goa. Desmond has completed mechanical engineering from IIT Madras.
About the company Desmondji
Owners came to tell about a plant that is grown in India widely which is used by farmers at present to protect their cultivation. But the real potential of the plant is still undiscovered. The plant name is Agave. Desmondji is India’s first craft distilling company that makes the best quality alcoholic beverages such as Agave spirits. The company was started in 2011. They launched another product, Madhuca spirit. This is the only spirit in the world made from sweet flowers. The company made different types of spirits, liquors and cocktail blends. This is a field-to-bottle and forest-to-bottle brand. Till date they have sold 12 lakh bottles. They are available in 3 states and two union territories. Their vision is to make an international alcoholic brand with Indian raw materials and spread it in the world. Their major markets are Maharashtra, Goa and Karnataka. Business pivot post covid.
Ask by the Owner Desmondji
The owners made an ask of 1 crore for 1% equity of the company at the valuation of 100 crores.
Desmondji Sales And Revenue
Sales from October 21 to September 22 are 12.5 crores. Last month’s sales were 1.25 crores. Sales in the last 3 months is 5 crores. In FY 21-22, the revenue was 7.5 crores. The projected sales in FY 22 to 23 is 14.5 crores. The sales split between B2B and Desmondji is 50% each. The gross margin is 65%. Net profit is 2.5 crores. Before they had raised 18 crores from investors and 76% equity of the company is with the investors.
Shark Tank Nano Clean
Offers and counter Offers
All the sharks stepped out of the deal
Desmondji Final Deal
No deal was finalized.