While praying in the temple, people use a lot of flowers to show their love towards God. These flowers go to waste afterward. Every year 80 Lakh ton flowers are thrown into the river. This is also a major cause of water pollution.
Also, the incense stick also contributes a lot of pollution to society. One synthetic incense stick is 4 times more dangerous than a cigarette.
Who is the Founder of Nirmalaya?
What is Nirmalaya?
They make organic Dhoop, Cones, Havan Cups, Essential Oils, Attars & Incense Sticks. All the products of Nirmalaya are CSIR-certified. CSIR stands for Council of Scientific & Industrial Research.
They want to make Nirmalaya the number-one organic fragrance company in India. Their best-selling product is cow dung havan cups.
How much money did they ask for Nirmalaya?
They came to Shark Tank India seeking ₹60 Lakhs for 1.5% equity in the company. Which gives the company a valuation of ₹40 Crores.
Nirmalaya means pure. Nirmalaya recycles all the flowers used in temples and makes these products. They collect flowers from 300+ temples in India. Then they use those flowers to make different products.
So, the business is easily replaceable. Anyone can collect flowers and make these products. But there’s a burning smell of the flower which can’t be easily removed. The founders of Nirmalaya have developed a unique recipe. Using that unique recipe they can easily eradicate the smell.
3 types of customers mainly buy from them.
Target customer of Nirmalaya
- People who want to do aroma therapy
- People who want to pray and use these products
- People who want to use these products for a cause, like having less pollution in the society
You can easily get their products online from their website. They’re selling the products offline also. They are CM2 positive. They are not making a profit, but at the same time, they are not making huge losses as well.
What are the Monthly Sales of Nirmalaya?
Monthly sales, ₹80 Lakhs. Their monthly burn is ₹1.19 Lakh. Their marketing spend is ₹8 ~ ₹10 Lakhs. Their repeat rate is 35%.
How much money did they raise for Nirmalaya?
They previously raised 1 round from investors. They raised ₹6.5 Crores at ₹28 Crores valuation.
What are the Annual Sales of Nirmalaya?
|2020 – 2021
|2021 – 2022
|2022 – 2023
|₹8 Crores Projected
Market size of incense sticks
The incense sticks global market is ₹11,000 Crores. India is the biggest exporter of incense sticks & USA is the biggest importer of incense sticks.
Sales Split of Nirmalaya
|Incense Sticks, Cones & Dhoop
Which shark gave Nirmalaya an offer?
Peyush Bansal was out because he didn’t have any expertise in the business. He thought the TAM was too low. Also, he thought they didn’t need any investment from anyone at that point.
Anupam Mittal was out because he didn’t like the fact that the business was not profitable. The raw material is free. They should be making a profit.
Namita Thapar was out because she thought the TAM was too low. Also, they don’t have the first-mover advantage.
Vineeta Singh was out because she couldn’t figure out how to make this business big.
|Rajeev Bansal, Bharat Bansal & Surbhi Bansal
|₹60 Lakhs for 1.5%
|Company Net Worth
Aman Gupta was out because they already raised huge money from investors. He advised them to make this business profitable as soon as possible.