MOS Utility Board Approves Foray Into Solar Business

MOS Utility Limited (NSE: MOS), a leading fintech company, offering different types of Fintech and Utility Payment Solutions services to businesses and individuals, has announced that its board has approved alteration of the object clause of the Memorandum of Association of the Company.

Company has added certain new business activities in the main objects of the company stating, "To manufacture, assemble, purchase, import, export, and otherwise deal in India or abroad in all types of solar PV modules, cells, batteries, energy storage devices, conversion and generation devices, appliances, gadgets, equipment, and products, including power packs, power supplies, generators, solar panels, chargers, and sub-assemblies, components, parts, and accessories thereof and to engage in all connected business related to solar."

Recently, the company announced that its subsidiary, MOS Logconnect Private Limited has received the Master Franchisee License from India Post. Through the India Post franchise module, we will be expanding our service offerings to encompass a comprehensive range of postal services across India. This partnership also enables us to leverage India Post's extensive network and resources, ensuring seamless and efficient service delivery. Our team is committed to providing exceptional customer service, and we are confident that this venture will drive growth and success for our company.

MOS Utility Limited is one of the leading fintech companies, offering different types of Fintech and Utility Payment Solutions services to businesses and individuals. With a customer-centric approach, MOS Utility Limited is committed to delivering seamless and secure fintech solutions that enhance accessibility and drive financial inclusion. MOS has rich and varied experience with reputed Giant corporations in India, MOS is a conglomerate of various businesses web & App based banking /travel/utility services etc. MOS has set up a well-knit Agent network over more than 25 states which is a vast network that would result in a massive impact in reaching last-mile consumers. Today's Announcement will provide access to Postal services in the remotest area, reducing the need for travel to a Post office Branch. It also offers a range of key services, including Speed Post (Domestic and International), Registered AD, Stamps, E-money Orders and Postal Life Insurance (PLI).

Chirag Shah, Co-Founder & Executive Director of MOS Utility Limited and Director of MOS Logconnect Private Limited, expressed his enthusiasm about the partnership, stating, that this strategic alliance with India Post is a testament to our robust operational capabilities, commitment to excellence, and dedication to delivering exceptional services. By offering essential postal services, we anticipate a substantial increase in our customer base, further solidifying our position in the industry."

Incorporated as "MOS Utility Private Limited" on July 27, 2009, company provide digital products and services in the B2B, B2B2C, and financial technology sectors through our online portal, www.biz solutionz.com. It enables shopkeepers, retailers, students, housewives, professionals, and insurance agents to start their own online businesses, supporting the "Vocal for Local" campaign. The company's business spans seven segments: banking, travel, insurance, utility services, entertainment, franchise, and other services. We merge physical and digital channels, utilizing a network of over 1,68,018 partners across India to offer payment solutions, remittance, utility, travel, and insurance products. This integrated model ensures a seamless customer experience and competitive edge. In FY24, the company reported Consolidated Total Revenue of Rs 193.09 Crore, EBITDA of Rs 17.85 Crore and PAT of Rs 12.13 Crore.