Finance

Pune Based Source.One aims at Rs. 5 Billion in FY20-21


Pune primarily based and Indias third-largest Polymer distribution firm Source.One is geared to submit a turnover of Rs. 5 billion (Rs. 500+ cr) within the monetary 12 months, 2020-21. It’s a firm that dominates greater than 300 districts 20 states throughout India. It plans to achieve the numerous 700 districts throughout India within the nearest future.

Mr. Arun Singhal, Founding father of Source.One

Sharing about future plans, Founder Mr. Arun Singhal says, “Weve had a very successful streak since our inception because we created a technology that is a network, to empower the Polymer distribution pipeline. It is a process where we connect over 500 suppliers to post their inventories and over 5,000 buyers get access to these through a simple WhatsApp message. We have managed to shorten the process of acquiring and selling Polymers from hours to less than 5 minutes.”

Established in 2018, Source.One has been scaling steadily since its inception. It created a community for plastic uncooked materials distribution in a cost-efficient manner recognising the space, pace, and time. The know-how created is clever and a simplified means of procuring and promoting of Polymer throughout the nation. The corporate has made sturdy partnerships with:

  • WhatsApp API – for every day transactions

  • Tata Aig – for credit score insurance coverage

  • Muthoot Finance – for bill discounting and

  • Tata Capital – for working capital

The corporate posted income of Rs.150 million (Rs. 15 cr.) in FY 2018-19 and Rs. 1.4 billion (Rs. 140 cr.) in 2019-20. The formidable Rs. 5 billion (Rs. 500 cr.) for FY 2021-22 is achievable as a result of January started with the corporate increasing its portfolio to PET, EVA, Polystyrene.

About Source.One

Source.One is Indias first know-how platform simplifying Polymers distribution. It’s a formidable closed-loop transaction move platform in Polymers. It’s presently current 300+ districts in 20 states and goals to achieve all 700+ districts in 27 states and 6 UTS. Designed by Arun Singhal and Shrinath Balakrishnan, with a collective commerce expertise of over 35 years, Source.One is properly geared up to be the chief in Polymer distribution.

The Source.One community is strengthened by a powerful interaction of know-how, information, innovation and operational excellence. It has created a system to resolve a time-consuming distribution difficulty. 500+ Suppliers use the Source. One platform to submit their Inventories and purchaser get entry to those by means of a easy WhatsApp message.

Established in August 2018, this Pune primarily based firm scaled from partnerships with WhatsApp API in October 2018 to creating a turnover of 300 cr. (30 million) in FY 2020-21. The corporate goals to shut round 500+ cr. in FY20-21.


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