The journey of OfBusiness, the Gurugram-based industrial goods and services procurement platform, is a testament of growth and profitability.
The Gross Merchandise Value (GMV), exhibited astounding growth, more than doubling. In FY23, it reached a remarkable Rs 15,342 crore, up from Rs 7,140 crore in FY22.
OfBusiness plays a vital role in the industrial supply chain, providing essential raw materials across multiple sectors, including steel, non-ferrous metals, petrochemicals, polymers, industrial chemicals, agriculture products, and building materials.
The foundation of this success lies in two primary segments: trading, which contributed a substantial 82% to the GMV, and manufacturing, which accounted for 25% of the total collections.
Additional income streams are derived from financial services and other operating activities, adding further depth to OfBusiness’s diverse portfolio.
This exceptional growth story not only underscores OfBusiness’s prowess but also its pivotal role in transforming the industrial procurement landscape. It stands as a symbol of innovation, efficiency, and progress.