What does Matrix Gas and Renewables do?

It provides industrial gas solutions and is expanding into renewable energy projects.

Is the company profitable?

Yes, but it is still small and in early growth stages.

Why is valuation so low?

Due to small size, limited history, and high risk despite growth potential.

Negative cash flow, early-stage execution risk, and small scale operations.

Is it a good investment?

It is a high-risk, high-reward microcap suitable only for aggressive investors.

Unlisted Shares

Matrix Gas And Renewables Limited

Verified Unlisted CompanyOff-market Transfer · NSDL / CDSL

About Matrix Gas And Renewables Limited

Matrix Gas and Renewables Limited is an emerging energy company focused on industrial gas supply and renewable energy solutions. The company operates in the growing clean energy and gas distribution space, supplying gases for industrial applications while also exploring renewable energy projects. With increasing demand for cleaner fuels and sustainable energy solutions in India, the company is positioning itself as a niche player in gas infrastructure and renewable energy integration.

Share Details

company Name	Matrix Gas And Renewables Limited
indicative Unlisted Share Price	₹16
market Capitalization	₹42 Cr
lot Size	1000 Shares
52 Week High	₹175
52 Week Low	₹16
face Value	₹10
book Value	₹163.5
pe Ratio	1.14
pb Ratio	0.1
debt To Equity	0.06
return On Equity	8.76%
total Outstanding Shares	2,64,84,969
isin	INE0O2I01010
depository	NSDL & CDSL
pan	AAHCC2058R
cin	U74999GJ2018PLC101075
rta	Link Intime

Income Statement (Profit & Loss) (₹ in Crore)

Particulars	FY22	FY23	FY24	FY25
Revenue	0.45	489	609	-
EBITDA	0.41	44.5	48	-
Operating Profit	0.41	44.5	48	-
EBIT	0.41	44.5	48	-
Profit Before Tax	0.12	43	50	-
Net Profit / Loss	0.09	32	37	-
EPS	9	11.85	13.99	-

Key Financial Ratios (Last 3–5 Years)

Ratio	FY22	FY23	FY24	FY25
Operating Profit Margin (%)	91.11	9.1	7.88	-
Net Profit Margin (%)	20	6.54	6.08	-
EPS	9	11.85	13.99	-

Financial Annual Report Summary

Matrix Gas has shown rapid revenue growth from near-zero operations in FY22 to ₹609 lakh in FY24, indicating early-stage scaling. Profitability has improved with PAT increasing to ₹37 lakh in FY24. However, the company remains small in scale with volatile margins and limited operating history.

Why Invest in Matrix Gas And

Early-stage company with sharp revenue ramp-up.
Margins are stabilizing but remain relatively low.
Small scale business with limited track record.
Valuation appears extremely cheap (low P/E, P/B).
Growth potential exists but execution risk is high.

Balance Sheet - Assets (₹ in Crore)

Item	FY22	FY23	FY24	FY25
Fixed Assets	0	0.07	0.49	-
CWIP	4.5	4.5	4.5	-
Investments	0	37	0	-
Trade Receivables	0.02	2	20.3	-
Inventory	0	0	23	-
Other Assets	17.58	41.63	330.71	-
Total Assets	22.1	85	51	-

Balance Sheet - Liabilities & Equity (₹ in Crore)

Item	FY22	FY23	FY24	FY25
Share Capital	0.01	27	26.44	-
Reserves	0.09	17	396	-
Borrowings	22	29	20	-
Trade Payables	0	0	70	-
Other Liabilities	0	1	24.56	-
Total Liabilities	22.1	85	51	-

Liabilities Breakdown & Balance Sheet Insights

Balance Sheet Insights

The balance sheet reflects rapid changes due to scaling operations and capital infusion. High reserves growth suggests equity funding, while liabilities remain manageable.

Liabilities Breakdown

Liabilities are moderate and include borrowings and trade payables, indicating growing operational scale.

Additional Insights

The company is transitioning from a small base to a scaling phase, with significant changes in reserves and working capital structure.

Cash Flow Insights

Operating cash flow is negative, indicating working capital pressure.
Financing cash flow is high due to capital infusion.
Business is still in early expansion stage.
Cash flow sustainability remains a key risk.

Shareholding Pattern

Shareholding pattern data not available

Promoters & Management

The company is led by promoters with experience in industrial gas and energy sectors, focusing on scaling operations in clean energy and gas distribution.