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Moglix aims gross revenue of up to Rs 2,000 cr next fiscal

twitter-logo PTI        Last Updated: March 25, 2019  | 18:13 IST

New Delhi, Mar 25 (PTI) Artificial intelligence firm Moglix expects 3-4 times growth in revenue by the end of the next financial year on account of overseas expansion following a global deal it signed with FMCG major Unilever and an increase in domestic client base. "On a gross level, we are talking about reaching Rs 500 crore as a revenue run rate by this March. We are growing 3-4 times year-on-year and continue to be on that trajectory," Moglix, founder and chief executive officer, Rahul Garg, told PTI. The Ratan Tata-backed firm claims to work with over 400 manufacturing houses where it provides 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 Moglix is providing over 40 categories of products in the MRO segment. The company has bagged global contract from Unilever for deployment of AI-based software across its over 100 offices globally. "With Unilever contract, we will have our presence in large number of foreign countries. iCat was tested in three of Unilever offices and now, it will be rolled out across its over 100 officers to manage procurements. The annual procurement size of Unilever is estimated to be around USD 20 billion (around Rs 1.4 lakh crore ) annually, Garg said. He said Moglix would look at setting up business development teams in the US and Europe. Moglix is also looking to expand domestic presence from 12 industrial clusters to 20 in the next fiscal. "We work with over 400 manufacturing plants. India has over 50,000 manufacturing plants. We were establishing our infrastructure across multiple hubs and now we have done it. Next year, we expect around 1,000 manufacturing units to come on board with us," Garg said. He said the company is also expanding its business with existing client base of 400 manufacturing units. "We are present in 12 industrial clusters and we will now be going to 20 clusters. We will invest USD 2 million (around Rs 14 crore) on marketing and product development," Garg said. The company plans to increase its headcount to 800 people from around 500 currently to cater to its growth. PTI PRS HRS

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