Shark Tank India 3: Anupam praises, “Saving Rs 3 cr, yeh bhartiya naari ki khoob khasiyat hai,” as pitcher Ajay Bhuwalka recounts losing Rs 1100 cr worth of steel company and beginning the millets industry

In the most recent episode of Shark Tank India 3, the millet-based company owners Ajay and Ruchika Bhuwalka’s pitchers revealed yet another heartbreaking tale. The two exchanged information about their brands and merchandise. After Ruchika told her husband Ajay about how the millets had saved his life and enhanced his health, they made the decision to launch a company using the same.

For 3% ownership, Ajay and Ruchika are asking for Rs 1 crore.
Peyush says he doesn’t think millet is healthy, and Namita adds, “People in rural areas have eaten millet for years.” Thus, this is definitely not a fad.” Peyush then realizes why India went from being a millets-based nation to one based mostly on wheat. Next, Namita enquires about the backgrounds of Ajay and Ruchika.

Ajay comments about his father’s steel production company, saying, “By going bankrupt, everything came to a grinding halt in 2016.” Our thirty years’ worth of reserves and inventory were completely destroyed in 2010 when the steel industry’s markets crashed and our inventory and orders were backed out. Our turnover was Rs 1100 cr, and we lost around Rs 100 cr. We began going on debt because Dad wanted to keep the top line growing, but that quickly ballooned and we owed Rs 300 cr. Dad left us with all he built, including our home and himself. In 2016, our father passed away after a serious heart attack. 2016 has been a tsunami for us.”

After that, Amit comprehends Millet’s business categories and unit economics. Azhar then inquires about ROI, recurring viewership, and other topics. Peyush and Anupam are aware of the expenses and income from marketing. When Amit inquires about how they contributed funds, Ruchika replies that they utilized her Rs. 3 crore savings. How did she preserve so much at such a difficulty, Anupam wonders. According to Ruchika, “I used to save every month and that is how we made this money.” Anupam compliments her, “Yeh bhartiya naari ki khoob khasiyat hai, jab kathinayi aati hai toh wohi kaam aati hai, well done.”
Following further questioning and learning about their company, the sharks decide not to proceed with the purchase.