The latest episode of Shark Tank India Season included RBD machines, an innovative startup from Agri-Machinery founded by the brothers Devendra Kumar Tailor and Bhupendra Kumar Tailor of a small village in Rajasthan.
The brothers presented their company, RBD, explaining that they have appointed it in honor of their grandfather. They told the judges that their unique sales proposals provide safe and affordable agricultural equipment and using social media to market customers directly.
When Namita Thapar inquired about their annual profits, one of the brothers said: “We declare a different amount, but we do more than that.” This raised concerns among the judges, who questioned the reasoning behind this approach.
Anupam Mittal explained that tax evasion is wrong and could prevent them from obtaining loans through government regimes. “If you continue to hide your profits, of course, your business will develop, but it will not develop a business value,” said Kunal Bahl, who has retired from the agreement due to the question of tax evasion. He expressed his admiration for the brothers but added: “I cannot trust your figures. If this problem did not exist, I would have invested. »»
The brothers explained that they followed the advice of their authorized accountant and reinvest more money in the company. “If we hire an expert, that we believe we are more well informed than we in a certain field, we will trust them and follow their recommendations,” said Bhupendra.
Anupam Mittal and Kunal Bahl stressed the importance of paying taxes to build a solid commercial foundation and increase the value of the company’s shares. Aman GUPTA also advised them to erase their current taxes and penalties for more fluid growth. Despite these concerns, the company’s customer’s customer model and the fact that 100% of sales are managed via their call centers have left a positive impression on the panel.
The brothers projected their recent achievements, in particular youtube viral videos and impressive sales figures-RS 9.34 crores for exercise 24-25 (until September), Rs 14.37 Broore for FY 23-24, and an RS 22-25 crore planned for Fy 24- 25
Namita Thapar congratulated their corporate spirit, saying: “Aap ne mba nahi kiya, by AAP BADE BADE MBA WAALON Ki CHUTTI KAR DOGE.”
The judges Aman Gupta and Anupam Mittal were particularly impressed by the way the brothers understood social media. Bhupendra and Devendra presented their YouTube channel, which has more than 160,000 subscribers. The judges were impressed by their ability to effectively market their products and the clarity with which they managed their operations.
While Anupam, Kunal and Aman decided to retreat, Ritesh Agarwal and Namita Thapar were ready to proceed, provided that the brothers govern their taxes late, including the penalties. They offered Rs 50 Lakh for 1% equity, as well as RS 50 Lakh as a 9% interest loan, payable after five years. The brothers accepted the agreement and left delighted.
