Kolkata, 27th January 2022: Mr Mahesh Chand Agrawal, Executive Director (Sales & International Trade Division) of SAIL, has been appointed Chairman of mjunction services limited, India’s largest B2B e-commerce company. He takes the mantle from outgoing Chairman Mr Rajiv Mukerji of Tata Steel.
Mr Agrawal holds a Bachelor of Engineering degree in Metallurgical Engineering from the Malviya National Institute of Technology (formerly Malviya Regional Engineering College) in Jaipur.
He has held several key positions in SAIL over the last several years and has been a Director with mjunction for the last one year.
On his appointment, Mr Agrawal said, “mjunction is on a sustained growth path, and I look forward to supporting and leading this dynamic organisation which is one of the pioneers in B2B e-commerce in India today.”
mjunction services limited is a 50:50 joint venture of SAIL and Tata Steel. Founded in February 2001, it is today not only India’s largest B2B e-commerce company (having e-transacted worth over Rs 10,53,663 crore till FY21), but is a leading e-marketplace for steel in the world. Business volume of the company in terms of transaction value has soared from Rs 94.35 crore in FY02 to Rs 1,39,824 crore in FY21.
mjunction has been one of the frontrunners in the B2B e-commerce space in India. It has service offerings spanning the entire B2B e-commerce spectrum and covers e-sales, e-sourcing, e-procurement, e-finance and loyalty solutions. It provides a transparent and efficient electronic marketplace where buyers and sellers of diverse goods and services can transact in a model that delivers value to both parties in an efficient and transparent manner.
Broadly, mjunction has two service categories: e-selling, that includes both forward and reverse auctions; and e-procurement. Some of the key categories it has experience and expertise in, include foodgrains, tea, pulses & oilseeds, telecom spectrum, coal, media rights for cricket, oil & gas fields, industrial plots, land, mining, iron ore, idle assets and scrap.
mjunction has evolved platforms for steel, coal, idle assets, agro commodities and minerals – they are transactional platforms which facilitate both sides of the supply chain. In 2020, it launched an electronic marketplace for tea in Assam. And in 2021, it launched its second e-marketplace for non-moving spares, called mjValueMart.
mjunction’s growth has not only been in terms of transactional value, revenue and profits. In the last two decades, it has established a national footprint with presence in more than 40 locations all over the country, and is headquartered in the city of Kolkata. Starting out with a team of less than six people at inception, today more than 900 people from different professional and academic backgrounds are working on growing the company at a scorching pace. Internationally, it has a business footprint in Australia, Singapore, UK and the United Arab Emirates. mjunction also has its own offices in UAE and UK.
mjunction abides by its guiding principles of Customer Focus, Innovation, Excellence and Integrity in all its business processes and with regard to all its internal and external stakeholders. As of now we have 3 lakh entities transacting on our various platforms.
mjunction is ISO 9001:2015, ISO 27001:2013 certified and is appraised at CMMI Level 5. It won the “Best eCommerce Company of the Year” Award in the “ET NOW Making of Developed India Awards” 2018.
mjunction is a socially conscious organisation, imparting basic computer and communication training to the underprivileged through its trust ejunction, not only making them employable, but also creating employment opportunities for them. Since 2007, it has touched over 50,000 lives, based largely on the employee volunteering model, and has created more than 15,000 employment opportunities.