For a machinery component to be complete various tools are required, they play a vital role in the process. Among several other tools, precision tools are used to increase the precision and the accuracy of the workpiece to meet critical detail and design standards. Manufacturers need to keep up with the continuous variations and modernisation in technology and balance both the efficiency and cost of the product.
India is one of the world's largest manufacturers of machine tools. India occupies the 10th position in global machine tools production. Its share in global production is about 0.9%. The market size is forecast to reach USD 102 billion by 2027, growing at a CAGR of 13.6%
Brancs India Tools Private Limited - Introduction
Brancs India Tools Private Limited, incorporated on 03 January 2013 is a non-government company also registered at the Registry of Companies. Raghavendra Nayak C S is one of the directors of Brancs India Tools Private Limited who started this company which is located in the Bommasandra Industrial Area, Bangalore. They manufacture a wide range of tools such as cutting tools, drilling tools, hard max, hard cut, alu cut, carbide drills, carbide inserts and ECO cut, providing services to various sectors like aerospace, automobile, farming and engineering. Their business and manpower have been growing over the years along with increased revenue.
Grow your MSME with collateral-free business loans
How they expanded their business
When the company started in 2013, Raghavendra Nayak was looking for opportunities to grow his business and expand as the demand had increased significantly. With profitable returns to the company, he was looking for the right time to invest more and needed the right chance to do it. The company started off with only 13 employees so in order to expand he needed more manpower and funds
Solution Offered by Kinara Capital
As Raghavendra Nayak looked for ways to get the funds to expand his business, he was approached by a Kinara Loan officer and learned about Kinara Capital. He was taken through the services offered and the procedure to apply for a collateral-free loan with minimum documents and KYC details. Upon learning how to avail a fast and flexible loan within a short period of time he immediately applied for a loan. On considering the eligibility along with the verification process, he was sanctioned his first business loan of INR- 10.6 lakhs and transferred to him in no time.
This helped him achieve his dreams of growing the business and was very satisfied with Kinara’s services as they supported his growth. He was motivated with the success and applied for another loan of INR 10 lakhs, followed by a third loan of INR 16 lakhs and fourth loan of INR 40 lakhs.
Impact of Kinara Capital
The amount received from Kinara Capital helped Raghavendra Nayak chase his dreams of improving his business. He started the business with a manpower of 13 employees and slowly has been expanding. Currently there are 20 employees and plans to enlarge it to 25. Within a year there has been a 35% increase in the workforce and it is continuing to grow. The sales have increased up to 300% in the last three years. The constant support has helped him grow with Kinara’s security-free MSME loan.
Raghavendra Nayak shares, “I would like to thank Kinara, especially loan officers. We are very happy with their services. With their services our manpower and services have increased. Further, I request Kinara to keep supporting us this way whenever we have such requirements in the future. Thank you!”
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- Brancs India Tools Private Limited