In the last episode of Shark Tank India 5Balika Vadhu actress Neha Marda, who played the role of Gehna in the show, took her Phitku product to the tank. Neha was joined by her co-founders: her brother Sumit Marda and her friend Rahul Dokania.
While raising funds for Phitku, the founders made a unique speech starting with a qawalli, after which they sought an investment of Rs 1.8 crore for 1 per cent equity, putting the company’s valuation at Rs 180 crore. Listen to the rating, Aman Gupta He said: “Thank you, all the best, goodbye.” Anupam Mittal added: “It was a very good start. I was very excited, but hearing your assessment, I am equally disappointed.” Later in the speech, Amit Jain criticized the founders for presenting inflated income and questioned their lack of transparency.
What is Phitku?
Neha Marda’s Phitku brand is an alternative to regular deodorant sticks. It is made with refined alum stone, mixed with other natural ingredients, and guarantees long-lasting freshness for 24 hours. Talking about the brand, Neha shared, “The idea for Phitku came after my pregnancy, when I suddenly started feeling uncomfortable due to my body odor. I continued using deodorants, but I noticed that my armpits were getting pigmented. Being an actor and a public figure, it was very frustrating. It’s such a stigma that no one talks about it.” Sumit Marda added that they realized the gap and turned it into a brand.
After the presentation, Anupam Mittal said, “I can relate to this topic a lot because we keep seeing a lot of advertisements about perfumes, but they are hormone disruptors and their long-term effect is quite severe. I stopped using aftershaves and now I only use alum stone.” Meanwhile, Namita Thapar questioned the founders and said, “Very few people will relate to this. The reality in India is that until people spray a perfume on themselves, they don’t feel satisfied, and such products are available in 100-200, yours costs Rs 999, so will India relate?” Namita was also disappointed to learn that the deodorant stick must be moistened with water before application, calling it “an annoying extra step.”
Amit Jain criticizes founders for inflating numbers
Phitku was started in 2024. So far, they have sold the product to 2 lakh customers. The founders revealed that they generated Rs 1 crore in revenue in 2.5 months during 2024-25, followed by Rs 14 crore year-to-date in 2025-26. They also shared that the company is fully launched. Breaking down the numbers further, they said they earned Rs 1.4 crore in September 2025, Rs 1.6 crore in October and closed November at Rs 1.98 crore. However, when Amit Jain learned that the founders had included GST while sharing their revenue figures, he seemed irritated. He objected and said, “Who does that? It’s not fair.”
Anupam Mittal later commented, “Last year his income was not 14 but 10 crores.” Amit went on to say, “This clarity is important, revenue is always calculated excluding GST, will you show these figures to increase valuation? I can’t understand your figures. Your revenue is only Rs 1.5 crore per month. How do you intend to close this year at Rs 24 crore? In my opinion, it is Rs 18 crore.”
After hearing the founders’ speech, Aman Gupta made an offer of Rs 1.8 crore for 3 per cent equity, along with a 2 per cent royalty until the investment of Rs 1.8 crore is recovered. Meanwhile, Namita decided to opt out, saying, “When this is escalated, there are two challenges: People want to feel the effect of the spray and fragrance. It takes time to change people’s mindset and habits. The second problem is the extra step, which is a bit annoying for me. I see them as friction points, think about it, but for today, I’m out.”
Anupam Mittal asks founders to do ‘examination of conscience’
While Amit Jain was not happy with the figures, he also pointed out a loophole when the founders revealed that each of them made Rs 7 lakh from the profits. Reacting to this, Amit said, “How is your 25 per cent EBITDA then? If you remove 21 lakh, how much do you leave in the company? Only 15 lakh? When I evaluate the company, I will value it at 15 lakh only then, this is crazy. I will be very honest, my problem is that you will give me a revenue figure with GST added, which shook my confidence. Then you will claim a return based on which investors remove their multiple, then “You will reduce the profit so much that you will use the maximum profits, who does that?”
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Ritesh also opted out and said, “In this busy life, people look for peace of mind; there is a need to find an easier alternative to use this. Along with some simplicity, which is missing. Bad news is always valued first in an investment relationship. So I’m out.”
Later, Anupam Mittal asked the founders if they would continue to accept Rs 7 lakh if they got the investment. He said: “I’m finding a transparency problem here.” Responding to this, Neha Marda said, “We didn’t think about this.” Anupam added, “I am disappointed that there is a lack of transparency in terms of positioning, so you will have to find out and do some soul searching to know whether you need an investor or not. I am so excited about this category that I will make an offer at the same valuation you asked for. Rs 1.8 crore for 1 per cent equity and 5 per cent royalty until it is recovered 3 times (Rs 5.4 crore).”
Aman opposed Amit’s point of view and said, “It is a misconception. In a partnership company, it is okay to share profits. His sales are good, that’s why I wanted to come along with him.”
The founders then asked Aman and Anupam to come together for a deal and asked for a reduction in royalties. In response, Aman and Anupam revised their offer to Rs 1.8 crore for 1 per cent equity, along with a 5 per cent royalty until they recovered three times their investment. When the deal was closed, Namita praised Aman and Anupam for getting strong royalty terms.