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Home / Knowledge Hub / Case Studies / Siddharth Forge

Siddharth Forge Reported 30% Increase In Sales & Revenue With Quick Access To Debt On Yubi

The result

  • INR 2 Cr

    Funding

  • 30% Increase

    in sales and revenue

Siddharth Forge 2 Siddharth Forge Reported 30% Increase In Sales & Revenue With Quick Access To Debt On Yubi
Siddharth-Forge-Case-Study

Pankaj Sharma

Proprietor, Siddharth Forge

We were pleasantly surprised by the record time within which we were onboarded on the Yubi Flow marketplace. We started discovering deals instantly to help the company’s finances. The fact that Yubi Flow offered us the option to source debt at the cheapest rate and in record speed made our debt financing journey pleasing.”

About the Company

Siddharth Forge is one of the leading manufacturers of forged flanges, stainless steel forged valves, offered forged flanges, and stainless steel forged valves based out of Jharkhand’s Jamshedpur. The company deals in steel and stainless steel engineered products marked by long working life, high functionality, and low maintenance. Siddharth Forge is known for 100% on-time delivery and ensuring customer satisfaction to regular clients at the most cost-effective prices.

The Challenge

Steel is the major raw material the company uses to engineer its products, and the company needs to stock steel to ensure there is enough stockpile of steel to cater to their clients

  1. Siddharth Forge was facing a shortage of working capital and had exhausted its credit limit with its banking partner.
  2. Siddharth Forge urgently required a capital infusion of Rs 2 crore to work on their expansion plans right when the pandemic struck.
  3. The shortage of funds made it impossible for the company to fulfil their buyer’s requirements, which affected the deliveries to their clients.
  4. The company lacked an in-house debt financing expert and couldn’t access the right debt deals to help them expedite its growth.
  5. Engaging with another bank would be tiring and a long-drawn process, thanks to the never-ending paperwork, long due diligence and compliance process.

The Solution

This was when Siddharth Forge came onboard Yubi’s Supply Chain Finance marketplace. The company sought quick funding of INR 2 Crores, and here is how this materialised

  1. Siddharth Forge got access to the multiple debt financing deals on Yubi.
  2. The Siddharth Forge team underwent the shortest onboarding with minimal paperwork and kickstarted their journey of securing the cheapest debt in no time.
  3. The company could liaison with different financiers to land the perfect deal to finance their supply chain.

The Results

The company secured funding of INR 2 crore in no time and focused on its growth strategies instead of running pillar to post for funding. Siddharth Forge raked in a three-pronged results

  1. The company could purchase additional stock to be able to fulfil client requirements in a fast and efficient manner.
  2. All pending vendor dues were settled, allowing the company to forge a sustainable relationship with the suppliers.
  3. The company reported a sharp jump in its sales and revenue, 30%, thanks to timely access to requisite funds.

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