MOXSH - Moxsh Overseas

📊 NSE: MOXSH 🏢 Miscellaneous 📅 Last Updated: 12/14/2025 10:02

💰 Financial Performance

Revenue Growth by Segment

Revenue grew 72.4% YoY for the half-year ended September 30, 2025, reaching INR 9.65 Cr compared to INR 5.59 Cr in the previous period. The FMGE coaching segment targets a market of INR 500 Cr, while the Overseas MBBS placement segment targets a market of INR 250 Cr.

Geographic Revenue Split

Not disclosed in available documents, though the company sources students from India for placement in overseas medical universities.

Profitability Margins

Net Profit Margin stood at 3.88% for the half-year ended September 30, 2025, with a profit of INR 37.53 Lakhs on revenue of INR 965.59 Lakhs. Direct costs represent 59.4% of revenue.

EBITDA Margin

EBITDA Margin is approximately 12.3%, calculated from a Profit Before Tax of INR 60.71 Lakhs plus Finance Costs of INR 41.35 Lakhs and Depreciation of INR 17.13 Lakhs against revenue of INR 965.59 Lakhs.

Capital Expenditure

The company is raising INR 4.30 Cr through a preferential issue of equity shares (INR 3.02 Cr) and warrants (INR 1.28 Cr) to fund general corporate purposes and expansion.

Credit Rating & Borrowing

Not disclosed, but the company reported finance costs of INR 41.35 Lakhs for the half-year ended September 30, 2025.

⚙️ Operational Drivers

Raw Materials

Direct service costs and student placement expenses represent 59.4% of total revenue (INR 5.73 Cr).

Import Sources

Not disclosed.

Key Suppliers

Not disclosed.

Capacity Expansion

The addressable market includes 3.7 Lac students currently studying in 784 medical colleges in India. The company is expanding its digital reach via the MOKSH App on Android and iOS.

Raw Material Costs

Direct costs reached INR 573.87 Lakhs, representing 59.4% of revenue for the half-year ended September 30, 2025.

Manufacturing Efficiency

Not applicable for a service-based education consultancy.

Logistics & Distribution

Not disclosed.

📈 Strategic Growth

Expected Growth Rate

72.40%

Growth Strategy

The company plans to achieve growth by leveraging its unique integrated model of providing both overseas MBBS placement and FMGE/USMLE coaching. It is raising INR 4.30 Cr to expand its digital coaching platform (MOKSH App) to capture the INR 500 Cr FMGE market, which is double the size of the placement market.

Products & Services

MOKSH App-based coaching, FMGE (Foreign Medical Graduate Examination) coaching, USMLE (United States Medical Licensing Examination) coaching, and Overseas MBBS counseling and placement services.

Brand Portfolio

MOKSH, MOXSH OVERSEAS EDUCON.

New Products/Services

A unique 'Combo offer' has been launched for students going abroad, integrating placement services with license exam coaching.

Market Expansion

Targeting the 3.7 Lac students in 784 Indian medical colleges for license exam coaching.

Market Share & Ranking

MOKSH claims to be the only Indian company providing both overseas placement and license exam coaching services.

Strategic Alliances

Not disclosed.

🌍 External Factors

Industry Trends

The industry is shifting toward mandatory licensing exams (NExT/FMGE) for all medical graduates, increasing the demand for integrated coaching services.

Competitive Landscape

Fragmented market for placements, but MOKSH competes as a specialized integrated player.

Competitive Moat

The moat is based on being the only integrated service provider in India for both placement and coaching, creating high switching costs for students using the 'Combo offer'.