“National Impex Founder Mudassir Shafiq Seeks 300 Crore PKR for 3% Equity, Shark Tank Crashed”
Mudassir Shafiq is the founder of National Impex and Muhammad Mubeen the finance director of National Impex. Founder said that I had a dream that we made machinery in Pakistan, we imported a lot in Pakistan and sent a lot of our foreigner exchange abroad. My dream is that we make all kind of technology here.
Now we want to develop things and make trials, so now we want to expand it so that machines are made in Pakistan, exported and employment is generated here. They asked for 300 Cr PKR for 3% equity.
Founder said that no one is doing this in Pakistan except us. Shark Junaid asked the founder now you tell me what you actually are doing? Founder said that our major is plastic, printing, packaging and converting industry. Shark Faisal asked him have you sold some of it locally or have just made a prototype of it? Founder said that we have sold a lot of it, we try to sell about 6 to 8 machines every year.
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Founder said that we made our first machine in 2015 for $3000. Shark Usman asked him what type of machinery do you guys make? Founder said that we made paper slaters, paper rewinders, core cutters and inspection machines. Their sales in 2023 are PKR 3.5 Cr to PKR 4 Cr and the net profit is 30% to 35%.
Sharks asked them what is the total valuation of your company? The founder said that valuation of the company is 100 billion. The inventory they got is PKR 7 to PKR8. Shark Junaid said that I don’t understand you valuation it may be absolutely correct but for today I’m out. All Sharks are out for today because they didn’t understand the concept why they are asked for 300 Cr PKR. The deal is not done.
They are working in the good direction by locally manufacturing such companies but they need to understand how valuation and investment works.
Sumbal is shark tank enthusiast, ever since the show started airing, she has followed it. She likes writing and researching about startups. She is also helping a few startups scale.
