Pune, Maharashtra, India
Pune based and India’s third-largest Polymer distribution company Source.One is geared to post a turnover of Rs. 5 billion (Rs. 500+ cr) in the financial year, 2020-21. It is a company that dominates more than 300 districts 20 states across India. It plans to reach the many 700 districts across India in the nearest future.
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Mr. Arun Singhal, Founder of Source.One
Sharing about future plans, Founder Mr. Arun Singhal says, “We’ve 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 network for plastic raw material distribution in a cost-efficient way recognising the distance, speed, and time. The technology created is intelligent and a simplified process of procuring and selling of Polymer across the country. The company has made strong partnerships with:
- WhatsApp API – for daily transactions
- Tata Aig – for credit insurance
- Muthoot Finance – for invoice discounting and
- Tata Capital – for working capital
The company posted revenue of Rs.150 million (Rs. 15 cr.) in FY 2018-19 and Rs. 1.4 billion (Rs. 140 cr.) in 2019-20. The ambitious Rs. 5 billion (Rs. 500 cr.) for FY 2021-22 is achievable because January began with the company expanding its portfolio to PET, EVA, Polystyrene.
About Source.One
Source.One is India’s first technology platform simplifying Polymers distribution. It is a formidable closed-loop transaction flow platform in Polymers. It is currently present 300+ districts in 20 states and aims to reach all 700+ districts in 27 states and 6 UTS. Designed by Arun Singhal and Shrinath Balakrishnan, with a collective trade experience of over 35 years, Source.One is well equipped to be the leader in Polymer distribution.
The Source.One network is strengthened by a strong interplay of technology, data, innovation and operational excellence. It has created a system to solve a time-consuming distribution issue. 500+ Suppliers use the Source. One platform to post their Inventories and buyer get access to these through a simple WhatsApp message.
Established in August 2018, this Pune based company scaled from partnerships with WhatsApp API in October 2018 to making a turnover of 300 cr. (30 million) in FY 2020-21. The company aims to close around 500+ cr. in FY20-21.
(Disclaimer: The above press release comes to you under an arrangement with Newsvoir India and this publication takes no editorial responsibility for the same.)
Ram K