mjunction plans to achieve this five fold growth through its existing six strategic business units - metaljunction, coaljunction, buyjunction, autojunction, straightline and mjunctionedge by a combination of expansion in the domestic market and tapping opportunities in the international markets.
Mr. Viresh Oberoi, Founder CEO and Managing Director, mjunction services limited shares “We have created immense value in terms of efficiency, convenience and transparency in the supply chains verticals we have entered. In FY’09, the focus of the company would be on consolidating its presence in the existing verticals by building adjunct services and getting into new geographies. The company will also be looking at inorganic growth through strategic acquisitions. We will be driving our B2C businesses with an increased customer orientation since we believe that the time is right for the end consumers to experience the benefits of eCommerce in their daily lives. While straightline will sell everything, from books to music to clothes to FMCG, autojunction will expand its current eAuction business and focus on the sale of new vehicles, pre-owned vehicles, exchange schemes and innovative transportation solutions.”
Overview of operations
metaljunction, the steel eSales business unit of the company traded 2.25 million tonnes in FY'07-08 and estimates sales of around 2.60 millions tonnes of steel FY 08-09. The increase is attributed to additional volume from its new clients as well as expansion of its product portfolio. Since its inception in 2002, metaljunction has sold over 6.5 million tonnes of steel establishing it as the World’s largest steel eMarketplace.
The other matured businesses which will also add to the growth story are coaljunction which is scouting for the new global clients to meet the country’s growing coal demands. From last year’s 9.62 million tones, coaljunction expects to sell around 19 million tones of coal this year.
buyjunction – the eProcurement service of mjunction is expected to contribute significantly to the company’s growth. buyjunction is set to tap the immense potential of eProcurement and BPO Procurement services in
With 30 million internet users in
straightline, the eRetail initiative has also chalked out an aggressive growth path targeting to add over 100 retail products spanning across apparel, books, gadgets, gifts, handicrafts, music, gaming, white goods, and electronics.
mjunctionedge, the Knowledge division plans to organize more Industry focused conferences this year with partners Metal Bulletin and McCloskey. The division plans to increase subscribers base for its three industry focused publications named ~ Steel Insights, Coal Insights and Sourcing Insights.
About mjunction services limited (www.mjunction.in)
mjunction services limited, a 50:50 joint venture of SAIL and TATA Steel was founded in February 2001. It is