Electronica Finance Limited: A pioneer bestowing Financial disbursal for engines of the Country’s economic growth since 1990
“I started my business voyage by joining my father’s firm at a very junior level! And believe me; I got my skills tuned up by pursuing,‘on’ as well as ‘off the job’ training. Well, this might surprise you, but I have dived into sales field too and did the actual sales!”
It’s not every day that a woman secures a top position in the family business and Ms. ShilpaPophale is among those handfuls who invested blood, bone, and sweat to drive the entrepreneurial realm. Ms.Pophale is a mother, holds the title of ‘Woman Entrepreneur of the Year’ and is the leading lady, driving the helm of Electronica Finance Limited (as the Managing Director), flagship of the “SRP Electronica Group” and one of the most diversified finance company in India. Electronica Finance Limited (EFL) is a pioneer in the arena of financing MSMEs from the manufacturing industry for their Machinery /Equipment requirements. Ms. Pophale shares successful business voyage of Electronica Finance Limited with The CEO Magazine. Here is the pericope:
Pooja: What was the bedrock concept behind incorporating Electronica Finance Limited?
The idea of EFL brewed up in 1990 when financial institutions especially banks were unable to gratify the financial requisites like machinery loan, property loan for the manufacturing sector. After witnessing the hurdles faced by our manufacturing clients and other customers, my father speculated this urge of resolving our customer’s financial requirements through better, faster, more powerful and affordable finance & loan related services. We took steps accordingly and incorporated EFL. After serving 7000+ customers and partnering with top 12 financial institutions, we stand today as a prominent name in NBFC industry by providing financial services to our Micro Small &Medium Enterprise (MSME) customers from different verticals including, manufacturing, trading, distribution & services,where banks and other financial institutions don’t take care of the financial requirements of these MSMEs. We also provide last mile connectivity to larger banks and financial institutions for making it more convenient for the customers.
Pooja: How EFL is a differentiator among the financial spectrum?
At EFL we believe that MSMEs represent the engines of the country’s economic growth & hence we have dedicated ourselves towards developing a range of MSME finance options that enable our clientele to concentrate on core priorities. In any business, timing of finance has always proved to be very crucial. A helping hand in lending at the time of need becomes all the more important because of this challenge. Further, it is very important to look beyond papers & financials & focus on the entrepreneur, his business & the machine that he wishes to purchase.
This has led to our strong ties with our customersacross India, resulting in over 50% of our business coming in from our existing customers. Our tailored finance options for Micro, Small and Medium Enterprises (MSMEs), helps our customers to deliver services faster, better and cheaper, as EFL takes care of their financial needs. We value the presence of our stakeholders, machine manufacturers, financial partners and our skilled and experienced team, all of which helps promote a healthy growth as one of the most competitive finance company in India. Our focus on quality and service excellence has garnered the appreciation of a large number of organizations and customers with whom we have worked.
Pooja: With stress on unwavering ethics, mutual respect, strong determination and a healthy work culture matching the global finance industry standards, EFL has been able to maintain a healthy & substantial portfolio. What are your core services?
In our long and successful journey of over 27 years with over 30 offices serving MSMEs from over 280 Industrial belts across India, we have served numerous clients from almost every vertical. Our large product portfolio includes Business Loans, Working Capital loans, Small Business Loan, Bill Discounting& Industrial Property loans in addition to our flagship product of Machinery loans.
Pooja: What has been the success mantra behind establishing EFL as a successful brand?
Our success roots are engraved in our values. We always try to innovate and fine-tune our quality for our valued customers. We are committed to achieving ‘Business Excellence’ by becoming a ‘Bench Mark’ through ‘Best in Class’ services. We ensure all actions are taken with customers in focus while delivering excellence in process, people, and technology to achieve sustainable growth.
Pooja: What’s up next for Electronica Finance Limited?
Walking on our vision “Building the MSME, Driving the Economy”, we are fine-tuning our committed efforts towards developing & providing a diversified range of finance solutions to meet the ever-growing needs of the MSME sector including shop owners, small IT companies, Gyms, Schools and many more while enjoying our long term relationships with our existing clients.
Pooja: Thanks for this lovely session. It would be wonderful if you share your success mantra with us.
I truly believe that 4Ps play a crucial role in an entrepreneur’s life- Passion, Purpose, Perseverance & People.
- Unless you are very PASSIONATE about your business, it is very unlikely that you will succeed.
- You should be clear about the PURPOSE of your business. If your motive is only profits then building a long lasting business will be difficult.
- PERSEVERANCE – Not giving up is the key
- PEOPLE – You should start building your team from the early stage itself as people make the organization grow. The team which has a buy-in for your purpose results in the success that you aspire for.
Milestones & Awards
May 4, 1990– Incorporated as Electronica Leasing and Finance Limited
May 12, 1998– Horizontal expansion into southern and northern parts of India.
March 3, 2002– Tie up with all leading machine tool manufacturers in India.
June 27, 2005– Renamed as Electronica Finance Limited with 15 Branches across the country on discontinuation of the leasing business.
February 3, 2006– Recognition by SIDBI as exclusive co- branding partner to help expand its reach to Micro, Small & Medium Enterprises.
September 13, 2007– Rated “alpha-” by M-CRIL indicating high safety
May 17, 2008– Classification as NBFC-ND-SI as the asset base crossed INR 100 crores. Recognition by WORLD BANK for exclusive work in MSME segment in India.
July 25, 2010– IIM Ahmedabad published a case study on EFL in its journal which provided analysis by financial experts including RBI official Tie up with SMERA for rating SME â€™s
2011– Diversification into printing.
March 15, 2013– Expansion to 35 locations, catering to more than 250 Industrial Clusters across 60 cities. AUM breaches benchmark level of INR 600 crores. Diversification into Pharmaceutical, Packaging and Textile verticals. Commencement of non-fund services.
20 August 2014– Ms. ShilpaPophale MD, awarded as ‘Women Entrepreneur of the Year’ by the World Women Leadership Congress
21 March, 2017-.”Best NBFC for Promotional Scheme Awards”
“Quality Brand India Award”
“National Industrial Excellence Award”
EFL’s Brand Identity
The “EFL Pyramid” represents Growth, Stability, Positive Energy & Reaching New Heights, all built on the solid foundation of TRUST. We believe in fulfilling the dreams and aspirations of MSMEs at the bottom of the business pyramid & focus on supporting them in all their phases of up gradation and automation. This is carried out by connecting the MSMEs with the latest industrial practices, thereby enabling them to deliver as per global standards. Currently EFL’s wings are spread across various verticals including Industry Machine Tool, Printing, Plastic, Packaging, Wood Working, Textile, Generators and Retail segment.
The Leading Lady of Electronica Finance
Ms. Pophale has been associated with Electronica Finance Limited (EFL) for over eighteen years and has worked in multiple roles before becoming the Chief Executive Officer of the Company in 2003 & taking over as the Managing Director of the company in 2007. Under her leadership, the Company’s AUM has grown at a CAGR of 30% over the years. Having participated as a speaker at various SME forums, Ms. Pophale also holds the title of ‘Woman Entrepreneur of the Year’ as conferred upon her by the World Women Leadership Congress (2014). Ms. Pophale is a Master of Science from Pune University and has completed the Programme for Leadership Development from ‘Harvard Business School’ & the Venture Capitalist Development Program from ‘Indian School of Business’.