We do have a pre-approved credit customers list after thorough evaluation with back up documentation.

 STP Limited is a big name that has been serving India in the area of waterproofing for the last 75 years. We chat up with D P Sengupta, President, STP Limited who shares his take about STP, the procurement practices and the innovations in the waterproofing industry.

Range of waterproofing products
Speaking about the range of products that STP offers to the waterproofing industry, Sengputa said, “STP offers possibly the widest range of waterproofing products in the industry covering bituminous, coal tar and construction chemical products.”

He adds, “Some of our products are SuperThermoLay APP/ SBS, SuperTene, Peneseal CWP and many more.”

Why STP?
In response to  what makes STP win the confidence of the clients over other competitors in the areas of water proofing, Sengupta said, “ There are 3 main reasons for this. Firstly, we have a quick delivery period. Through the 6 factories producing different products or a combination located at Goa, Ankleswar, Chennai, Kosi, Hooghly (WB), and Jamshedpur we have a history of quick delivery.”

Sengupta also attributes the success of STP to the technological advantage that it carries. He says, “STP has its Central R&D under the name of ‘Ävishkar’ at Kolkata where the experienced scientists work  round the clock for technological  up gradation of  existing  products, import  substitutions and new product development. These improvement includes new unique features making the product special. Our R&D is approved by Department of Science Technology which adds a special status to it.

Latest innovations in waterproofing
Sengupta feels that the introduction of liquid membrane in the area of waterproofing has been the latest which has occurred few years back. “STP also through its R&D has developed different liquid membrane and STP introduced the same in the market around 3 years back,” he adds.

The liquid membrane are primarily single component liquid either water based or resin based  with different range of solid content and after application and curing it forms a seamless membrane.

Procurement practices and payment concerns
As per Sengupta, the selection process of the vendors is what plays a crucial role. “Each batch sample is approved and cleared after meeting set parameters. In addition to this, our R&D team works for import substitution for various inputs as raw materials,” he talks in detail about the procurement standards.

Throwing light about the payment and the credit concerns that STP shares with the clients, Sengupta said, “We do have a pre-approved credit customers list after thorough evaluation with back up documentation. Deviation is limited after even pre-approval at a different level. We do maintain a credit period of 30 – 45 days for pre-approved credit customers. However, few exceptions takes place based on the merit of the case and as a business judgment.”

Crossing hurdles
Sengupta feels that any project needs some things to be kept in control on various aspects like completion time and cost. To ensure the same, STP has followed some steps. “The payment realisation was kept under control adopting  standard safe methods and with close follow up,” he sums up.