Moglix aims for a gross income of up to Rs 2,000 cr the next fiscal year



New Delhi, March 25 () Artificial intelligence firm Moglix expects revenue growth of 3-4 times by the end of next fiscal year due to overseas expansion following to a global agreement it signed with Major FMCG Unilever and an increase in domestic customer base. “At the gross level, we are talking about reaching Rs 500 crore as a turnover rate by March. We are increasing 3 to 4 times a year and continue to be on this trajectory”, Moglix, founder and director officer general, Rahul Garg, said. The company backed by Ratan Tata claims to work with over 400 manufacturing houses where it provides an AI-based solution for maintenance, repair and operations (MRO). “Next year, we expect over 1,000 manufacturing companies to use our solution next year,” Garg said. He said that Moglix provides more than 40 product categories in the MRO segment. The company has entered into a global contract with Unilever for the deployment of AI-based software in its more than 100 offices around the world. “With the Unilever contract, we will have our presence in a large number of foreign countries. ICat has been tested in three of Unilever’s offices and now it will be deployed to its more than 100 agents to manage purchasing. The annual size Unilever’s purchases are estimated to be around $ 20 billion (around Rs 1.4 lakh crore) per year, ”Garg said. He said Moglix would consider setting up business development teams in the United States and Europe. Moglix is ​​also looking to expand its national presence from 12 industry clusters to 20 in the next fiscal year. “We work with over 400 manufacturing plants. India has over 50,000 manufacturing plants. We have established our infrastructure at several hubs and now we have. Next year we expect that ‘About 1,000 manufacturing units are joining us,’ Garg said. . He said the company was also expanding its business with an existing customer base of 400 manufacturing units. “We are present in 12 industrial clusters and we will now grow to 20 clusters. We will invest $ 2 million (approximately Rs 14 crore) in marketing and product development,” Garg said. The company plans to increase its workforce to 800 people from around 500 currently to meet its growth. PRS HRS


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