Sustainability
House Cleaning Products
Season 3 Episode 1
| Brand | The Honest Home Company |
| Company Name | Xyntac Retail Pvt Ltd |
| Founders | Mayank Pratap Sisodia |
| Original Ask | 1 crore for 2% equity at the valuation of Rs. 50 crores |
| Deal | 1 crore for 3% equity at the valuation of Rs. 33.33 crores and 1% Royalty until 1.5 crores is recouped |
About the Product
The Honest Home Company is on a transformative journey toward sustainable living. They take pride in presenting a diverse range of eco-conscious products, addressing essential categories such as personal hygiene, food wrapping, kitchen hygiene, and household cleaners.
Explore the innovative Powder-To-Liquid Floor Cleaner – a game-changer that comes in 5 convenient refills, yielding 2.5 liters of liquid floor cleaner. This solution is not just a product; it’s a commitment to maintaining a pristine living space while minimizing environmental impact. Delve into the kitchen essentials with Butter Paper Sheets (1010 inches – 200 Sheets) and Baking Paper Sheets (1111 inches – 100 Sheets). These items not only simplify your culinary endeavors but also align with the ethos of sustainable living. Bid farewell to conventional plastic garbage bags and welcome the era of eco-friendliness with Biodegradable Garbage Bags. These bags, along with our Food Wrapping Paper, revolutionize the way we handle waste in our homes.
What sets The Honest Home Company apart is their dedication to making sustainability accessible to all. Their products, not only environmentally friendly but also budget-friendly, can be easily found on various online marketplaces. The goal is to ensure that transitioning to a greener lifestyle is just a click away.
Founders & their story
- Mayank Pratap Sisodia
Mayank Pratap Sisodia, hailing from UP Dhampur, founded The Honest Home Company with a core belief in the value of honesty and the principle of giving back to the Earth. With an MBA from Jaipuria Institute of Management and a career including 7 years at HUL with 3 promotions, his journey reflects a commitment to sustainable practices.
Recognizing the drawbacks of plastic, the company, established in 2019, specializes in plastic-free everyday home cleaning products at competitive prices. With an initial investment of 2.25 crores and an annual revenue of 14 crores, they have achieved a commendable market presence. Starting as a territory sales officer at Parle Product Private Limited, Mayank’s diverse experience includes a successful stint at an Ayurveda startup, achieving 0 to 1 crore revenue in just one year. The company’s product range includes food wrapping paper, aluminum foil, and kitchen towels, contributing significantly to their revenue.
Innovating in the home and kitchen category, The Honest Home Company introduced toilet and floor cleaners, providing cost-effective solutions with a sachet format. Priced at Rs 70/liter compared to competitors at approximately Rs 225/liter, this approach has garnered attention for its affordability. With a market presence of 55% offline and 45% online in the previous year, this year’s distribution has shifted to 40% offline, 24% marketplaces, 30% Quick Commerce, and 6% Others. The average order value stands at Rs 200, with a repeat rate of 33% on Amazon and 16% on Blinkit.
The company’s commitment to sustainability goes beyond products, reflecting in their business model. Despite not selling directly from their website, The Honest Home Company has carved a niche in the fragmented home and kitchen category market, providing consumers with eco-friendly alternatives and cost-effective solutions.
About the company:
The Honest Home Company, led by a group of dedicated changemakers, strives to provide effortless and budget-friendly eco-friendly choices. Recognizing the urgency of climate change, they aim to make sustainable living accessible to all.
In India, 9,400 tonnes of plastic end up in landfills and seas every day. Although India is on the lower end of the spectrum in individual plastic consumption, collective efforts can not only halt the increase but also reverse the tide.
The company has developed everyday products with minimal or no plastic usage, devoid of toxic chemicals, crafted from organic raw materials, and delivered in recycled packaging. These products serve as a healthier alternative for homes and the planet. They bring together individuals who value nature, the future of the planet, and aspire to reduce waste, minimize ecological footprints, and contribute to global salvation.
Their mission is clear: create a waste-free future. By embracing existing technology, they invite others to join in making eco-friendly choices the new norm. Together, they aspire to save the planet, one everyday decision at a time.
Revenue:
Over the past four fiscal years, the company has demonstrated substantial growth, with annual sales escalating from ₹1.82 crores in FY 19-20 to ₹13.8 crores in FY 22-23, reflecting an impressive CAGR of 181.6%. In the latest fiscal year, they achieved a net profit of ₹60 lakhs, boasting a net margin of 4.35%. The company’s financial health is evident in their manageable working capital, ranging from ₹1-1.5 crores. Looking ahead, they are poised for further success with projected monthly sales of ₹7-8 crores for the next two years. In alignment with market trends, their strategic expansion into Quick Commerce and offline channels illustrates their commitment to staying ahead and capitalizing on emerging opportunities. This demonstrates their adaptability and a forward-thinking approach, positioning them for continued growth and market leadership.
Founders’ Ask
1 crore for 2% equity at the valuation of Rs. 50 crores.
Offers:
Vineeta: 1 crore for 4% equity at the valuation of Rs. 25 crores and 1% Royalty until 1.5 crores is recouped.
Amit: 1 crore for 4% equity at the valuation of Rs. 25 crores and 1% Royalty until 1.5 crores is recouped.
Anupam: 1 crore for 3% equity at the valuation of Rs. 33.33 crores and 1% Royalty until 2 crores is recouped.
Amit’s revised offer: 1 crore for 3% equity at the valuation of Rs. 33.33 crores and 1% Royalty until 2 crores is recouped.
Anupam and Vineeta: 1 crore for 3% equity at the valuation of Rs. 33.33 crores and 1% Royalty until 2 crores is recouped.
Aman: 1 crore for 3% equity at the valuation of Rs. 33.33 crores and 1% Royalty until 2 crores is recouped.
Aman, Anupam and Vineeta: 1.5 crore for 6% equity at the valuation of Rs. 25 crores and 1% Royalty until 3 crores is recouped.
Amit’s revised offer: 1 crore for 3% equity at the valuation of Rs. 33.33 crores and 1% Royalty until 1.5 crores is recouped.
Final Deal
Amit: 1 crore for 3% equity at the valuation of Rs. 33.33 crores and 1% Royalty until 1.5 crores is recouped.