Matrix Gas & Renewables

Platform	Last Traded Price	Min Quantity

Strengths & Weaknesses

Strengths

Financial Performance: The company's revenue from operations saw significant growth, with figures reaching ₹489.6 Cr as of March 31, 2023, up from ₹1.50 lakhs in 2022. The company achieved a Profit After Tax (PAT) of ₹32.04 Cr in 2023, contrasting with a net loss in the previous year.

Strong Promoters: Backed by experienced professionals and a diversified group including Gensol Engineering Ltd. and BluSmart Mobility, Matrix Gas leverages renewable energy and electric mobility expertise.

Solar Power Ventures: The company has a contract for a 5,330 kWp solar PV plant with Amber Enterprises India Limited, from which it expects revenue starting in FY 2024-25 after its commissioning.

Indian Gas Exchange (IGX): The company has maintained a proprietary membership with the Indian Gas Exchange (IGX) since December 13, 2022, enabling it to acquire natural gas for short-term requirements.

Progressing in Green Hydrogen: Matrix Gas & Renewables Ltd is at the forefront of the clean energy shift by producing Green Hydrogen. They have the skills to handle Engineering Procurement and Commissioning (EPC) as well as Build Own Operate (BOO) projects.

Weaknesses

Customer Base and Revenue Concentration: The top 10 customers contributed around 95.58% of the revenue in 2023, indicating a concentrated revenue base among a few large clients.

Withdrawal of IPO: Matrix Gas and Renewables had canceled its IPO plans and instead completed a substantial pre-IPO funding round, raising ₹350 crore.

Balance Sheet	FY2023	FY2022
Equity Capital	15.01	0.01
Reserves and Surplus	16.78	0.1
Total Equity	31.79	0.11
Long Term Borrowings	0.17	0.15
Other Long Term Liabilities	0.0	0.0
Total Non-Current Liabilities	0.17	0.15
Short Term Borrowings	28.86	21.86
Other Current Liabilities	22.3	0.0
Total Current Liabilities	51.13	21.9
Equity + Liabilities	83.09	22.16
Fixed Assets (incl. WIP)	4.58	4.51
Other Non Current Assets	37.36	0.16
Total NC Assets	41.94	4.67
Trade Receivables	1.71	0.02
Cash and Bank Balances	8.5	0
Other Current Assets	30.9	17.5
Total Current Assets	41.15	17.49
Total Assets	83.09	22.16

Profit & Loss	FY2023	FY2022
Revenue From Operations	489.69	0.015
Growth %	3266566.67%	0
Total Operating Expenses	444.30	0.0058
Growth %	7660244.83%	0
Operating Profit	45.70	0
Operating Profit Margin %	9.33%	61.33%
Other Income	0.56	0.15
Finance Costs	3.24	0.43
Depreciation and Amortization Expense	0.01	0
Profit before Tax	42.70	-0.27
Income Tax	10.66	0.07
Tax %	24.78%	-25.74%
Profit After Tax	32.04	-0.20
Growth %	16186.52%	0
PAT %	6.60%	-1340.67%
EPS	21.33	-0.13

Shareholding Pattern

Color	Shareholder	Holding
	ANMOL SINGH JAGGI	24.50%
	CHIRAG NARESHBHAI KOTECHA	22.00%
	DISHA CHIRAG KOTECHA	22.00%
	PUNEET SINGH JAGGI	23.94%
	Others	7.56%

Fundamentals

Quick Insights

Financial Performance: The company's revenue from operations saw significant growth, with figures reaching ₹489.6 Cr as of March 31, 2023, up from ₹1.50 lakhs in 2022. The company achieved a Profit After Tax (PAT) of ₹32.04 Cr in 2023, contrasting with a net loss in the previous year. Strong Promoters: Backed by experienced professionals and a diversified group including Gensol Engineering Ltd. and BluSmart Mobility, Matrix Gas leverages renewable energy and electric mobility expertise. Solar Power Ventures: The company has a contract for a 5,330 kWp solar PV plant with Amber Enterprises India Limited, from which it expects revenue starting in FY 2024-25 after its commissioning. Indian Gas Exchange (IGX): The company has maintained a proprietary membership with the Indian Gas Exchange (IGX) since December 13, 2022, enabling it to acquire natural gas for short-term requirements. Progressing in Green Hydrogen: Matrix Gas & Renewables Ltd is at the forefront of the clean energy shift by producing Green Hydrogen. They have the skills to handle Engineering Procurement and Commissioning (EPC) as well as Build Own Operate (BOO) projects.

Market Cap₹608.95 Cr

PE Ratio19.22

EPS₹21.33

Dividend Yield-

Book Value₹21.4 Cr

Debt/Equity0.91

Price/Book19.16

Price/Sales-

Industry PE-

Sales₹489.69 Cr

Profit After Tax₹32.04 Cr

Share Capital₹15.01 Cr

Shares Outstanding-

ISININE0PO201010

SectorRenewables

Symbol-

About Company

Matrix Gas & Renewables Limited is a prominent player in India's energy sector, specialising in sourcing and marketing natural gas and Regasified Liquefied Natural Gas (R-LNG). The company focuses on medium to long-term contracts to ensure a steady supply of competitively priced natural gas for its customers