Shark Tank India 5 Sees Heated Debate Over Neha Marda's Phitku Pitch
The latest episode of Shark Tank India 5 featured a dramatic pitch from Balika Vadhu actress Neha Marda, who walked away with a Rs 1.8 crore investment despite facing intense scrutiny from the sharks over transparency concerns. Neha, along with co-founders Sumit Marda and Rahul Dokania, presented their brand Phitku, an alternative to traditional deodorant sticks, but the journey to securing the deal was fraught with challenges.
Phitku's Unique Pitch and Valuation Sparks Initial Skepticism
Neha Marda, known for her role as Gehna in Balika Vadhu, began the pitch with a qawalli performance, aiming to stand out in the tank. The founders requested Rs 1.8 crore for a 1 percent equity stake, valuing their company at a staggering Rs 180 crore. This high valuation immediately drew criticism from the sharks.
Aman Gupta responded bluntly, saying, "Thank you, all the best, bye-bye," while Anupam Mittal expressed disappointment, noting, "It was a very nice start. I was very excited, but listening to your valuation, I am equally disappointed." The pitch highlighted Phitku as a product made from refined alum stone and natural ingredients, promising 24-hour freshness, inspired by Neha's personal struggles with body odor post-pregnancy.
Amit Jain and Anupam Mittal Raise Transparency Red Flags
As the discussion progressed, Amit Jain called out the founders for presenting inflated revenue numbers, accusing them of a "lack of transparency." The founders revealed that Phitku, launched in 2024, had sold to 2 lakh customers and reported revenues of Rs 1 crore in 2024-25 and Rs 14 crore year-to-date in 2025-26. However, Amit Jain pointed out that these figures included GST, which is not standard practice in revenue reporting.
He objected strongly, stating, "Who does that? It's not fair." Anupam Mittal added, "Last year your revenue was not 14 but 10 crores then." Amit Jain further criticized the founders for claiming an EBITDA of 25 percent while each taking Rs 7 lakh from profits, questioning the actual profitability left in the company.
Sharks Debate the Product's Market Viability
Namita Thapar raised concerns about Phitku's market appeal, noting that at Rs 999, it is priced higher than typical deodorants and requires wetting before application, which she called "an annoying extra step." She opted out, citing challenges in changing consumer habits. Ritesh Agarwal also declined, emphasizing the need for ease and straightforwardness in business dealings.
Despite these criticisms, Anupam Mittal expressed excitement about the product category, relating to the issue of hormonal disruptors in perfumes. He made an offer but urged the founders to do some "soul searching" regarding their transparency. He said, "I am disappointed that there was a lack of transparency in terms of positioning, so you'll have to figure out and do some soul searching as to whether you even need an investor or not."
Deal Finalized Amidst Royalty Negotiations
After negotiations, Aman Gupta and Anupam Mittal joined forces to offer Rs 1.8 crore for 1 percent equity with a 5 percent royalty until they recover three times their investment. The founders accepted the deal, with Namita Thapar praising the sharks for securing strong terms. This episode underscored the importance of clarity and honesty in entrepreneurial pitches, even when securing significant funding.
The incident highlights key lessons for startups on transparency and valuation, making it a memorable moment in Shark Tank India 5. As the show continues, viewers are left reflecting on the balance between innovation and integrity in the competitive world of business.
