Vijay P. Sharma is a Delhi native. He is a PROOST Co-Founder.
EDUCATION
Vijay P. Sharma holds a diploma in engineering.
CAREER
Vijay P. Sharma has worked in a variety of companies in countries such as the United Arab Emirates and Indonesia. He was the working CEO of the company when he left.
ABOUT THE COMPANY PROOST
To achieve greatness in life, one must be brave. Peyush Bansal, for example, left a high-paying job at Microsoft to launch Lenskart. For example, one of Proost’s founders left his job at the age of 55 to become an entrepreneur. Beer has a market in India worth 65000 crore rupees. This is 85% strong beer. However, there are few market participants in this thriving beer sector. So, in order to address this issue, Proost was established. Proost is a low-cost beer brand known for its premium quality, low bitterness, low cost, and high drinkability. Aside from strong beer, they also have light beer and wheat-crafted beer. The ingredients are from India. Beer is sold in over 1800 retail outlets, with over 70 lakh units sold to date. The company operates on a lease model. They have factories in Punjab and Haryana, and they recently announced that they will open a factory in Telangana. They have obtained licences in Delhi, Haryana, Punjab, Uttar Pradesh, and Kerala. They established the company in 2018-19.
SHARK TANK
The co-founders demanded sharks for 1 crore rupees for 0.75% equity in their company.
In the fiscal year 18-19, sales totaled 77 lakh rupees. In 19-20, sales were 3.21 crore rupees, in 20-21, sales were 4.2 crore rupees, in 21-22, sales were 7.5 crore rupees, and this year, sales are 12 crore rupees. Every state’s MRP differs because the excise duty varies by state. In Delhi, for example, the MRP of a can is 100 rupees, of which 45 rupees is excise duty, 33 rupees is COGS, and 22 rupees is gross profit. They are still a loss-making company due to high fixed costs. Only when they increase production will they begin to make a profit. In the month of December 2021, they raised 2.7 crore rupees at a post-money valuation of 16.66 crore rupees. They will also hold another 16 crore fundraising round at a valuation of 133 crores.
No sharks expressed interest because they did not want to invest large sums of money for such a small stake in the company, which also has two funders.
There was no agreement reached with any of the sharks.
