Mining Support Businesses Seeking Loan

Located in Coimbatore, this niche player in the mining machinery sector specialises in the assembly and branding of high-performance drilling rigs, catering to a specific clientele focused on mining and export. - Operational model involves outsourcing manufacturing to maintain quality and cost-effectiveness with in-house assembly and branding, optimising logistics and customisation for clients. - Core products include the top-selling river circulation, blast hole, and bore holder drilling rigs, known for their efficiency and reliability among mining enterprises. - Successfully serving a substantial network of 40 active customers, the firm has proven its capability in delivering approximately 5 machines annually, showcasing consistency and market demand. - The company features a streamlined workforce of 8 employees, ensuring a personalised approach to customer service and project execution in the mining industry. - Promoter is an industry veteran with a mechanical engineering background and an MBA in finance, alongside a decade of experience, driving innovation and financial acumen in operations. - The firm is capitalising on the growing mining sector, aligning its product offerings to meet escalating demands for advanced drilling equipment. - Equipped with GST registration, MSME certification, and an Importer Exporter Code (IEC), the company is strategically positioned for both domestic influence and international trade facilitation.

The company was formed in the 1980s by foreigners and in 2014 was bought by a local. - Since the new management has been trying to acquire Petroleum Development Licence but has not succeeded due to lack of funds. - Now the company has only participated in a handful of water boring contracts with the local level government and local business houses. - Recently we completed a sub-contract to do road and bridges geotechnical drilling on the Highlands Highway. - The business has experienced high growth due to the new contracts and jobs received in this financial year. - Currently, the business earns the majority of its revenue from geotechnical drilling & bore water drilling. - The oil and gas drilling has not been started yet. - The typical duration of a drilling contract is 1-3 months.