Moglix urges policy support for advanced bitumen use, lines up ₹600 crore for expansion
Moglix
, a leading B2B e-commerce and
supply chain technology
firm, has recommended policy-level interventions to mandate the use of
polymer-modified bitumen
and micro-surfacing in
road construction
projects, while earmarking ₹600 crore for acquisitions in India.
'Our roads are the veins of Viksit Bharat. Building them stronger and smarter requires materials that are not only durable but sustainable,' Rahul Garg, Founder & CEO of Moglix, said in an interaction with ET Energyworld.
Garg said the National Highways Authority of India (NHAI) should issue guidelines mandating advanced bitumen-based solutions. 'Polymer-modified bitumen improves durability, and micro-surfacing enhances road quality and energy efficiency,' he said.
The company recently operationalised a greenfield
bitumen manufacturing facility
under DRG Industries at Kosi Kalan in Mathura. Built from scratch, the facility has an installed monthly capacity of 15,000 metric tonnes of polymer-modified bitumen products. The plant uses a mix of traditional fuels and bio-briquettes for heating.
'We've invested several tens of crores in this facility,' Garg said. The facility supplies North and Central India and uses trucks as the primary mode of transportation.
While the core product is derived from crude oil, biofuels are used to power processing operations. 'Biofuels like biobriquettes are used only to generate heat for processing bitumen,' Garg said.
Capital allocation and acquisition strategy
On capital planning, Garg said the company has allocated ₹600 crore for greenfield and strategic acquisitions. 'This aligns with a broader investment plan we initiated about a year ago,' he said. Moglix is not currently planning any international expansion or setting up manufacturing facilities outside India.
'We'll run this plant for 6–12 months, gather learnings, and then decide. No immediate expansion plans,' Garg said.
IPO preparation and regulatory roadmap
Responding to questions on IPO, Garg said structural steps are still pending. 'Yes, but there are structural steps to complete first. We're incorporated in Singapore, which means we can't directly list in India,' he said.
He added that the company operates with listed-company level governance. 'We're ready operationally, but regulatory processes take time. We're in no rush.'
Garg said IPO readiness would depend on investor alignment and not capital constraints. 'It's more about aligning investor timelines—when to allow public participation and provide exits for private investors,' he said.
Supply chain, AI applications, and future outlook
On supply chain strategy, Garg said bitumen imports are largely from the Middle East and are not impacted by tariffs from the US or other regions. 'Most of our imports come from the Middle East, and tariff-related challenges there are minimal,' he said.
Garg also said AI deployment is being explored in areas like predictive maintenance and quality control. 'Our R&D head is actively exploring such possibilities,' he said.
Garg ruled out current plans in renewables and Southeast Asia expansion. 'We're still a young company—only 18 months into manufacturing,' he said.
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