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Matrix Gas & Renewables Unlisted Shares
DRHP Status : Not Filed
Trending
38
About Company
Matrix Gas & Renewables (MGRL) is an energy company focused on natural gas aggregation, city-gas distribution (CGD), and green-hydrogen infrastructure. It was incorporated on 6 March 2018. The following are the key verticals:
- Natural Gas Aggregation: Sourcing and supplying natural gas / RLNG to industrial customers.
- Gas Distribution / CGD: Building out infrastructure for clean gas access.
- Green Hydrogen: Developing green-H₂ production via electrolyzer manufacturing + BOO (build-own-operate) hydrogen projects.
- Biogas / Solar: Exploring biogas plants (CBG) and solar-generation / EPC (engineering-procurement-construction).
Financials & Capital Structure
- As per Instafinancials, MGRL has authorized capital of ₹35.00 Cr, and paid-up capital of ₹28.70 Cr.
- In a pre-IPO round, the company raised ₹ 350 crore to fund gas-aggregation expansion, CGD acquisitions, and its green hydrogen capex (electrolyzer + hydrogen plants).
- According to a company deck: Matrix claims gas-aggregation volumes of ~85 mmscm currently.
- The same source (investor deck) claims that Matrix is currently zero-debt; for future hydrogen-capex projects, it plans a 70:30 Debt-to-Equity ratio.
Key Strengths & Growth Drivers
- Strong Promoter Backing & Expertise: Promoted by Gensol Group (Gensol Engineering) with deep experience in solar EPC.
- Energy Transition Play: Natural gas (transition fuel) + green hydrogen makes it relevant in India’s decarbonization roadmap.
- Diversified Clean-Energy Portfolio: Beyond gas aggregation - exposure to hydrogen, biogas, and solar.
- Strong Financial Support: ₹ 350 Cr pre-IPO funding gives itthe runway to invest in large hydrogen infrastructure.
- Proprietary Gas Sourcing Capability: IGX (Indian Gas Exchange) membership allows flexible short-term gas sourcing.
Risks & Challenges
- High CapEx Risk: Building hydrogen production infrastructure + electrolyzer manufacturing is capital-intensive.
- Execution Risk: Delivering on hydrogen project pipeline (25+ H₂ projects) may face regulatory, technical, or financial hurdles.
- Gas Supply Risk: Aggregation business depends on sourcing stable gas; price swings or supply disruptions could hurt.
- Competition: In CGD and hydrogen space, there are many competitors (large energy firms, PSUs).
- IPO Risk: While they raised pre-IPO funds, the success of their IPO will be critical for future scaling.
Quick Summary
Matrix Gas & Renewables Ltd is a high-ambition energy company playing in a sweet spot of India’s energy transition: combining natural gas aggregation with green hydrogen infrastructure. With strong promoter backing (Gensol Engineering + BluSmart group), no current debt, and a recent ₹ 350 Cr pre-IPO round, the company is well-positioned to scale. However, it faces typical risks of capex-intensive green projects, supply volatility, and execution load. For unlisted-share investors, MGRL is a long-term clean-energy play, though one with significant risk — especially around hydrogen.
Fundamentals About Matrix Gas & Renewables
Current Price
38
Market Cap
1143.63 Cr
ISIN
INE0PO201010
Face Value
10
P/E Ratio
36.10
EPS
21.33
P/B Ratio
35.98
Book Value
21.40
Debt to Equity Ratio
0.91
Key Financials of Matrix Gas & Renewables
P&L Statement
| P&L Statement | 2022 | 2023 |
|---|---|---|
| Revenue | 0.45 | 489 |
| Cost of Material Consumed | 0 | 443 |
| Gross Margins | 100 | 9.41 |
| Change in Inventory | 0 | 0 |
| Employee Benefit Expenses | 0 | 1 |
| Other Expenses | 0.04 | 0.5 |
| EBITDA | 0.41 | 44.5 |
| OPM | 91.11 | 9.1 |
| Other Income | 0.15 | 0.5 |
| Finance Cost | 0.43 | 3 |
| D&A | 0 | 0 |
| EBIT | 0.41 | 44.5 |
| EBIT Margins | 91.11 | 9.1 |
| PBT | 0.12 | 43 |
| PBT Margins | 26.67 | 8.79 |
| Tax | 0.03 | 11 |
| PAT | 0.09 | 32 |
| NPM | 20 | 6.54 |
| EPS | 90 | 11.85 |
Financial Ratios |
2022 | 2023 |
|---|---|---|
| Operating Profit Margin | 91.11 | 9.1 |
| Net Profit Margin | 20 | 6.54 |
| Earning Per Share (Diluted) | 90 | 11.85 |
Balance Sheet
| Assets | 2022 | 2023 |
|---|---|---|
| Fixed Assets | 0 | 0.07 |
| CWIP | 4.5 | 4.5 |
| Investments | 0 | 37 |
| Trade Receivables | 0.02 | 2 |
| Inventory | 0 | 0 |
| Other Assets | 17.58 | 41.43 |
| Total Assets | 22.1 | 85 |
| Liabilities | 2022 | 2023 |
|---|---|---|
| Share Capital | 0.01 | 27 |
| FV | 10 | 10 |
| Reserves | 0.09 | 17 |
| Borrowings | 22 | 29 |
| Trade Payables | 0 | 11 |
| Other Liabilities | 0 | 1 |
| Total Liabilities | 22.1 | 85 |
Shareholding Pattern of Matrix Gas & Renewables
| Name | Holding |
|---|---|
| Anmol Singh Jaggi | 25% |
| Puneet Singh Jagg | 24% |
| Chirag Kotecha | 22% |
| Disha Kotecha | 22% |
| Others | 7% |
Promoters of Matrix Gas & Renewables
| Name | Role / Position | Notes |
|---|---|---|
| Anmol Singh Jaggi | Chairman & Director | Co-founder, Gensol Group. |
| Puneet Singh Jaggi | Promoter | Significant shareholder per company deck. |
| Chirag Kotecha | CEO & MD | Whole-Time Director. |
| Disha Chirag Kotecha | Director | On board as non-executive / promoter-related. |
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Frequently Asked Questions
Matrix Gas & Renewables Limited unlisted shares represent equity in a privately held company operating in the clean energy and gas distribution sector. These shares are not listed on NSE or BSE and are available through private-market platforms like UnlistedKraft.
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Unlisted shares typically come with limited liquidity and fewer public disclosures. However, Matrix Gas & Renewables operates in a growing renewable energy sector with promising demand, and investing via UnlistedKraft ensures secure, verified, and transparent transactions.
Share pricing is based on recent private deals, market demand, company financials, and sector outlook. UnlistedKraft ensures pricing remains fair and current by updating it regularly based on reliable market data.
Yes, an active demat account is required to receive and hold unlisted shares of Matrix Gas & Renewables Limited.
There is no mandatory lock-in period unless the company goes public. Investors generally hold the shares until a liquidity event such as an IPO or strategic acquisition to realize potential long-term gains.
Yes, you may sell the shares through UnlistedKraft’s resale network, depending on buyer availability and prevailing market demand.
Yes. According to SEBI regulations, pre-IPO investors must observe a six-month lock-in period once the company is listed on a public exchange.
If held for more than two years, gains are taxed as long-term capital gains at 20 percent with indexation. If sold within two years, gains are considered short-term and taxed according to your income tax slab.
UnlistedKraft offers trusted access to private investment opportunities like Matrix Gas & Renewables Limited, backed by transparent pricing, expert advice, verified deals, secure transactions, and fast share credit to your demat account.
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