Moglix FY25: Revenue Inches Closer To $700 Mn Mark, Loss Halves

B2B ecommerce startup Moglix’s operating revenue inched closer to the $700 Mn mark in the financial year ended March 2025. The Delhi NCR-based startup reported an operating revenue of $681.5 Mn in FY25, an increase of 15% from $591 Mn in the previous year, according to its Singapore filings. 

Including other income, the startup’s total revenue rose to $692.8 Mn during the year under review from $601 Mn in FY24. 

Besides the rise in revenue, Moglix also saw its loss nearly halve to $11.3 Mn in FY25 from $21.7 Mn in the previous fiscal year on the back of improvement in margins and a controlled rise in expenditure.

Founded by Rahul Garg in 2015, Moglix sells a wide range of industrial tools and equipment to clients from industries such as automotive, cement, chemical, consumer durables, FMCG, metals, mining, oil and gas, and pharmaceuticals. 

The startup recently forayed into the energy sector and set up a manufacturing unit to produce a wide range of bitumen products. It also earmarked INR 600 Cr to acquire a company in space.

Moglix earns the majority of its revenue from India. The UAE was at second spot, accounting for 3% of the unicorn’s revenue in FY25.

Where Did Moglix Spend?

The startup’s expenditure rose at a slower pace than its revenue. Total expenses stood at $704 Mn during the year, up 12% from $623.7 Mn in FY24.

Cost of Sales: The startup spent the highest amount under this head, which primarily comprised cost of procurement and other operating expenses. Cost of sales stood at $644 Mn during the year under review, up 14.7% from $561 Mn in the previous year.

Employee Benefit Expenses: Employee costs rose 5.8% to $27.3 Mn in FY25 from $25.8 Mn in the previous year. 

Advertising Expenses: In what was likely a push to improve its bottom line, Moglix’s advertising expenses reduced by 12% to $2.9 Mn during the year under review from $3.3 Mn in FY24. 

Moglix has raised a total funding of over $472 Mn to date from investors like Tiger Global, Accel, Alpha Wave, among others.