• Moneymint
  • Posts
  • School Friends to Rs 400 Cr Success: The Bootstrapped Journey!

School Friends to Rs 400 Cr Success: The Bootstrapped Journey!

Raghib and Faisal met in school and later graduated together

Hey Moneymint fans!

Welcome to all the new members who've joined us this week! Thank you for being a part of Moneymint.

This is a special edition, where I share the success story of two friends who founded a Rs. 400 crore bootstrapped company.

Raghib and Faisal met in school and later graduated together from Jamia Millia Islamia with engineering degrees.

Their failure to crack IIT-JEE exams was a turning point that made them focus on their strengths. After graduation, Faisal joined Google and Raghib joined AOL to gain work experience

After Three years into their Corporate jobs at Multi-National Companies, they decided to pursue their dream of venturing into entrepreneurship together. Thus, RNF Technologies was born. The 'RNF' stands for Raghib and Faisal 💡

They started RNF with a seed capital of Rs. 2 lakhs. The company has grown to over 450 employees and 250+ clients globally, while remaining bootstrapped.

But this wasn't their first venture together.

1st Venture: BuyAlmost.com (Later Shutdown)

In 2009, they launched their first venture - an auction-based shopping portal called BuyAlmost.com which offered products at up to 98% discount. It received good initial response with 120,000 registrations in 3 months

However, they decided to shut it down as the product was not scalable in terms of profits

2nd Venture: RNF Technologies (Most Successful)

In November 2009, they started RNF Technologies, an IT services company, with a seed capital of Rs. 2 lakhs. Their first major contract worth $500,000 came from a leading commercial data provider.

They focused primarily on the North American market, garnering over 90% of their clients from there. Expanded to mobile app, web development, and digital marketing services. Set up an office in Delaware, USA to better serve clients.

3rd Venture: Phonato Studios (10M+ Downloads)

In 2013, they launched Phonato Studios, a sister company for game development. Their games have seen over 10 million downloads with 4.5+ ratings.

They partnered with 888 holdings for some popular games like 7Heart Casino, Double Jackpot Slots.

4th Venture: Resourcifi

In 2016, they started Resourcifi, a staff augmentation company providing remote staffing solutions. Has a talent pool of over 400 skilled developers, designers, IT professionals. Offers flexible hiring models - contract, project-based, dedicated teams.

What to learn from them:

Speaking about the drive that pushed them to let go of their jobs and begin something anew, Faisal said that both dared to face their fears and tread on the path of entrepreneurship while they were young. Raghib said that ambitious entrepreneurs focus more on the monetisation part of their venture. In contrast, the real juice is acquiring the right team and focusing on core services or products.

Adding to that, Faisal said that the main ingredient to becoming an entrepreneur is letting go of the fear of failure and believing in your dreams' power.

Know Your Market: Their first venture BuyAlmost.com failed as the product was not scalable for profits despite initial traction

Pricing Strategy: Avoid excessively low pricing that makes clients perceive you as inexperienced. Analyze the market and set competitive prices.

Continuous Skill Development: Their failure to crack IIT-JEE exams made them focus on honing their strengths and improve skills across various domains

Should I write about the stock market in this newsletter?

Login or Subscribe to participate in polls.

Delton Cables: From 70 to 400 INR in one year

In May 2023, you could snag this stock for just Rs. 70—it was a steal! Fast forward to May 2024, and the price has skyrocketed to Rs. 418. That's a whopping 400% return in just one year!

DISCLAIMER: We do not Recommend any of the stocks we discuss in this guide. I am not a SEBI registered investment advisor. Please do NOT take any content on this newsletter as an investment advice. Please do your own research.

But what has changed in the company? How can you track these changes and invest early in similar companies?

Let's explore what this company has done to achieve a 400% return in one year:

Delton Cables primarily makes telecom and low voltage cables. They've expanded into producing cables for EPC projects, railways, and IT. Their success comes from diversifying beyond just telecom cables. They improved their factory's efficiency, boosting capacity from 44% in FY22 to 76% in FY24.

A new plant in Haryana will produce more cables for various applications. The company revamped its leadership and added experienced professionals. With new products and improved operations, Delton has returned to rapid growth, especially with the government's focus on infrastructure.

Sales increased by 64% in Q4 and 47% in FY24. Delton Cables is now one of the fastest-growing firms in its sector, with profits jumping to Rs 14.7 CR in FY24 from Rs 6 lacs in FY23.

I know some of you are still unsure about how to pick stocks. Remember, investing in stocks is like running a marathon, not a sprint. You need to take the time to learn about the market and then use what you've learned.

It will take some time to get the hang of everything I've talked about. It's not hard; it just takes a bit of learning. If you're interested, I can share more details on how to choose stocks in the Indian stock market.

I've been involved in the stock market since I was 15 years old, using my father’s demat account. So, I've picked up a few tips and tricks along the way.

If you found this newsletter informative and thought-provoking, why not forward it to someone you think would enjoy it? Forward this email to them and help spread the word. 😊

Thank you for being a part of our community, and I look forward to bringing you more exciting content next week.