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Company Overview
Matrix Gas & Renewables Limited is a diversified clean energy solutions provider, strategically positioned to address India’s growing energy demand. The company ensures a steady and competitively priced supply of natural gas, alongside aggressive expansions into renewable energy segments including Compressed Bio-Gas (CBG), Solar Power, and Green Hydrogen. Backed by strong promoters and industry veterans, Matrix is building a comprehensive portfolio in both conventional and sustainable energy solutions.
Core Business Segments
1. Natural Gas Aggregation
Premier aggregator of natural gas in India, catering to industrial and commercial consumers.
Offers competitive pricing, flexible supply contracts, and continuous supply assurance.
Supports the Government of India’s push to increase the share of natural gas in the energy mix, reducing dependence on coal.
Expertise in developing weekly/fortnightly supply contracts with flexible take-or-pay and LC terms.
Proven track record – handled 100+ million standard cubic meters of gas to date.
2. Compressed Bio-Gas (CBG)
Actively developing nationwide CBG plants.
Raw materials sourced sustainably: agri-residue, press mud, cow dung, Napier grass, potato peels, municipal solid waste.
Strong logistics and marketing strategy for supplying CBG to industries and as vehicle fuel.
3. Solar Power Projects
End-to-end partnership from concept to commissioning of solar power generation projects.
Comprehensive feasibility studies including land assessment, solar radiation analysis, grid infrastructure, and climate factors.
Risk-assessed capital investment strategy to ensure sustainable project execution.
4. Green Hydrogen & Green Ammonia
Plans to establish 2 GW hydrogen electrolyser manufacturing capacity.
Capabilities across the entire Green Hydrogen supply chain: production, storage, transportation, dispensing, and Green Ammonia production.
Expertise in EPC and BOO project execution for hydrogen plants.
Promoter Background
Gensol Engineering Ltd. – Leading solar EPC & O&M services provider.
BluSmart Mobility – India’s leading EV ride-hailing and EV charging network operator.
Key Leadership
Anmol Singh Jaggi – Chairman
Founder of BluSmart & Director of Gensol Engineering.
Visionary leader driving clean energy and electric mobility innovation in India.
Chirag Kotecha – CEO & Managing Director
18+ years in Oil & Gas (LNG & Natural Gas) with roles at GSPC, Gujarat Gas, Adani Total, and Indian Gas Solutions.
Holds a B.E. in Electronics and MBA in Finance.
Fundamentals
| Parameter | Details | Parameter | Details |
|---|---|---|---|
| Share Price | Contact us to know share price | Lot Size | 1000 shares |
| 52 Week High | ₹950 | 52 Week Low | ₹34 |
| Depository | NSDL & CDSL | PAN Number | AAHCG2065R |
| ISIN Number | INE0PO201010 | CIN | U74999GJ2018PLC101075 |
| RTA | Link Intime | Market Cap | ₹90 Cr |
| P/E Ratio | 2.43 | P/B Ratio | 0.21 |
| Debt to Equity | 0.06 | ROE (%) | 8.76 |
| Book Value | ₹163.5 | Face Value | ₹10 |
| Total Shares | 2,64,48,499 | Status | Buy/Sell Available |
Promoters & Managements
| Name | Designation |
|---|---|
| Anmol Singh Jaggi | Chairman & Director |
| Chirag Kotecha | CEO & Managing Director |
| Disha Chirag Kotecha | Director |
Profit & Loss Statement (₹ in Cr)
| Particulars | 2022 | 2023 | 2024 |
|---|---|---|---|
| Revenue | 0.45 | 489 | 609 |
| Cost of Material Consumed | 0 | 443 | 550 |
| Gross Margins (%) | 100.00 | 9.41 | 9.69 |
| Change in Inventory | 0 | 0 | 0 |
| Employee Benefit Expenses | 0 | 1 | 5 |
| Other Expenses | 0.04 | 0.5 | 6 |
| EBITDA | 0.41 | 44.5 | 48 |
| OPM (%) | 91.11 | 9.10 | 7.88 |
| Other Income | 0.15 | 0.5 | 5 |
| Finance Cost | 0.43 | 3 | 3 |
| Depreciation & Amortisation | 0 | 0 | 0 |
| EBIT | 0.41 | 44.5 | 48 |
| EBIT Margins (%) | 91.11 | 9.10 | 7.88 |
| PBT | 0.12 | 43 | 50 |
| PBT Margins (%) | 26.67 | 8.79 | 8.21 |
| Tax | 0.03 | 11 | 13 |
| PAT | 0.09 | 32 | 37 |
| NPM (%) | 20.00 | 6.54 | 6.08 |
| EPS (₹) | 90.00 | 11.85 | 13.99 |
Key Financial Ratios
| Ratio | 2022 | 2023 | 2024 |
|---|---|---|---|
| Operating Profit Margin (%) | 91.11 | 9.10 | 7.88 |
| Net Profit Margin (%) | 20.00 | 6.54 | 6.08 |
| EPS (Diluted) (₹) | 90.00 | 11.85 | 13.99 |
Balance Sheet (₹ in Cr)
| Assets | 2022 | 2023 | 2024 |
|---|---|---|---|
| Fixed Assets | 0.00 | 0.07 | 0.49 |
| Capital Work-in-Progress (CWIP) | 4.50 | 4.50 | 4.50 |
| Investments | 0.00 | 37.00 | 0.00 |
| Trade Receivables | 0.02 | 2.00 | 203.00 |
| Inventory | 0.00 | 0.00 | 2.30 |
| Other Assets | 17.58 | 41.43 | 330.71 |
| Total Assets | 22.10 | 85.00 | 541.00 |
| Liabilities | 2022 | 2023 | 2024 |
|---|---|---|---|
| Share Capital | 0.01 | 27.00 | 26.44 |
| Face Value (₹) | 10 | 10 | 10 |
| Reserves | 0.09 | 17.00 | 396.00 |
| Borrowings | 22.00 | 29.00 | 24.00 |
| Trade Payables | 0.00 | 11.00 | 70.00 |
| Other Liabilities | 0.00 | 1.00 | 24.56 |
| Total Liabilities | 22.10 | 85.00 | 541.00 |
Cash Flow Statement (₹ in Cr)
| Particulars | 2022 | 2023 | 2024 |
|---|---|---|---|
| Profit Before Tax (PBT) | 0.12 | 42.00 | 50.00 |
| Operating Profit Before WC (OPBWC) | 0.39 | 45.00 | 28.00 |
| Change in Receivables | 0.00 | -1.60 | -202.00 |
| Change in Inventories | 0.00 | 0.00 | -2.32 |
| Change in Payables | 0.00 | 11.40 | 58.00 |
| Other Changes | -22.09 | -2.80 | -19.68 |
| Working Capital Change | -22.09 | 7.00 | -166.00 |
| Cash Generated from Operations | -21.70 | 52.00 | -138.00 |
| Tax | -0.03 | -11.00 | 10.00 |
| Cash Flow from Operations | -21.73 | 41.00 | -128.00 |
| Purchase of PPE | 0.00 | -0.08 | 0.49 |
| Sale of PPE | 0.00 | 0.00 | 0.00 |
| Cash Flow from Investing | 0.15 | -36.41 | -9.00 |
| Borrowing | 22.01 | 7.00 | -5.00 |
| Dividend | 0.00 | 0.00 | 0.00 |
| Equity | 0.00 | 0.00 | 11.40 |
| Others from Financing | -0.43 | -3.25 | 339.60 |
| Cash Flow from Financing | 21.58 | 3.75 | 346.00 |
| Net Cash Generated | 0.00 | 8.34 | 209.00 |
| Cash at Start | 0.43 | 0.02 | 15.00 |
| Cash at End | 0.43 | 8.36 | 224.00 |
Share Holding Pattern
| Shareholder | 2024 |
|---|---|
| Anmol Singh Jaggi | 13.90% |
| Puneet Singh Jaggi | 12.17% |
| Chirag Kotecha | 13.51% |
| Disha Kotecha | 12.49% |
| Others | 47.93% |
