Matrix Gas And Renewables Unlisted Shares Financial Reports

Matrix Gas And Renewables Unlisted Shares

Okay, here's the detailed summary of the PDF, following your specified objectives and constraints: **General Company Information** Matrix Gas and Renewables Limited is a commercial and industrial company incorporated on 06/03/2018, with Corporate Identity Number U74999GJ2018PLC101075 and Permanent Account Number AAHCG2065R. The registered office is located at 15th Floor, A Block, Westgate Business Bay, S G Road, Ahmedabad City, Gujarat-380051, India. As of the end of the financial year, the company had 25 employees. The company has not published a sustainability report. The final accounts were approved at the board meeting on 04/09/2024. The reporting period is 01/04/2023 to 31/03/2024, with a standalone nature of the report. The content of the report are the Financial Statements presented in INR (Indian Rupees) in Lakhs, with cash flow statement using the indirect method. The company maintains books of accounts and other relevant papers in electronic form. **Principal Products and Services** The principal product or service category is wholesale trade services (ITC 4 digit code 9961). The description of the product or service category is "Wholesale trade services" with a turnover of ₹60,679.17 Lakhs. The highest turnover contributing product or service is crude petroleum and natural gas (ITC 8 digit code 99611912), also with a turnover of ₹60,679.17 Lakhs. **Directors' Report Disclosures** The directors signing the board report were Anmol Singh Jaggi (Managing Director, DIN: 01293305), signing on 05/11/2024. The company has three subsidiary companies: Matrix Gasonet Private Limited, Matrix Electrolyser Private Limited and Build H2 Infra Private Limited. The Company has constituted an Audit Committee. The Chairman of the Audit committee is Mr. Arun Menon. The other members are Mr. Gaurav Kharbanda and Mr. Anmol Singh Jaggi. The Company has also constituted a Nomination and Remuneration Committee, CSR Committee and Stakeholders Relationship Committee, comprising of directors. There have been no material changes or commitments affecting the financial position of the company between the end of the financial year (March 31, 2024) and the date of the director's report. The Board has carried out an annual evaluation of its own performance, board committees, and individual directors pursuant to the provisions of the Act. **Financial Performance** The financial results (standalone) for the year ended March 31, 2024, compared to the previous year, are as follows (in Lakhs): * Total Income: ₹61,433.85 (2023-24) vs. ₹48,981.34 (2022-23) * Total Expenditure: ₹56,425.50 vs. ₹44,746.76 * Profit Before Tax: ₹5,008.35 vs. ₹4,234.58 * Less: Current Tax/Provision for Tax: ₹1,289.35 vs. ₹1,065.87 * Profit After Tax: ₹3,719.00 vs. ₹3,168.71 The directors did not recommend any dividend for the year under review. The authorized share capital of the company is ₹35,00,00,000 divided into 3,50,00,000 equity shares of ₹10 each. The paid-up share capital is ₹26,44,84,990 divided into 2,64,48,499 equity shares of ₹10 each. The authorized share capital has been increased from 25,00,00,000/- to 35,00,00,000/-on March 11, 2024. At the end on 31st March, 2024 company has reserves and surplus of Rs. 396, 06,07,237.64/- **Related Party Transactions** Material contracts/arrangements/transactions at arm's length basis between Matrix Gas and Renewables Limited and Gensol Engineering Limited, Gosolar Ventures Private Limited & Group Company and Param Care Pvt. Ltd. The transactions mainly involve sale/purchase of goods/services, rent and interest for Nil duration. Amounts involved in the transactions with the mentioned entities are Rs. 80,00,00,000.00 Rs. 70,00,00,000.00 and Rs. 50,00,00,000.00 respectively. These transactions were approved by the board. **Corporate Social Responsibility (CSR)** The Company adopted a CSR policy to make a positive difference to society, focusing on holistic empowerment and sustainable initiatives. For the financial year 2022-2023, the company has Profit Before Tax of Rs. 42.35 Crore, hence is liable for spending on account of CSR in the year 2023-2024. The Company in need of spending Rs. 28,31,409.00/- during the financial year 2023-24 and the same has been spend the details of which mentioned in Annexure B. Composition of CSR committee: * Anmol Singh Jaggi (Managing director) * Gaurav Kharbanda (Independent director) * Chirag Kotecha (Whole-time director) The company spent Rs. 28,60,000 on projects for eliminate poverty, hunger and malnutrition, carrying out implementation through Jivan Jyot Foundation and Chanakya Mandal Pariwar. **Auditor's Report** M/s. Keyur Shah & Associates served as the statutory auditors for the financial year 2023-24 and have recommended for their re-appointment. A secretarial audit was conducted by CS Jatin Kapadia of M/s K. Jatin & Co. The report is annexed as "Annexure-C" in Form MR-3, without any adverse observations. There were Twenty Seven Board Meetings held during the year. The standalone financial statements give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at March 31, 2024, and its profit/loss, and its cash flows for the year ended March 31, 2024. The Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, and Standards etc. The Board of Directors of the Company is duly constituted with the proper balance of Executive Directors, Non-Executive Directors and Independent Directors, if any. There are adequate systems and processes in the Company commensurate with the size and operations of the Company to monitor and ensure compliance with applicable laws, rules, regulations and guidelines. **Key Ratios and Other Financial Details** The Company's internal financial controls are adequate and operating effectively. The company has not accepted any deposits from the public falling within the ambit of Section 73 of the Companies Act, 2013. Key Financial Ratios and details regarding loans, advances, and investments are discussed in the notes to the financial statements. There are no significant or material orders passed by regulators or courts impacting the company's operations or going concern status. **Shareholding Pattern** Shareholders holding more than 5% of the equity shares are: Anmol Singh Jaggi (13.90%), Puneet Singh Jaggi (12.17%), Chirag Kotecha (13.51%), and Disha Kotecha (12.49%). 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Matrix Gas And Renewables Unlisted Shares

The standalone financial statements of Matrix Gas and Renewables Limited for the period 01/04/2022 to 31/03/2023 reveal key information about the company's financial performance, assets, liabilities, equity, and compliance with relevant regulations. **General Company Information:** * The company's name is Matrix Gas and Renewables Limited, with a corporate identity number of U74999GJ2018PLC101075 and permanent account number of AAHCG2065R. Its registered office is located in Ahmedabad, Gujarat. The company is classified as a Commercial and Industrial type of industry. * The registration date is 06/03/2018. The company had 4 employees at the end of the financial year and has not published a sustainability report. * The final accounts were approved on 06/07/2023. The reporting period is from 01/04/2022 to 31/03/2023, and the report is standalone. The presentation currency is INR, with values rounded to Lakhs. An indirect method is used for the cash flow statement. The company maintains books of account and relevant papers in electronic form. * The principal product or service category is "Wholesale trade services" with an ITC 4 digit code of 9961 and its turnover is reported as 48,920.95 Lakhs. The highest turnover contributing product or service is "Crude petroleum and natural gas" with an ITC 8 digit code of 99611912, and its turnover is 48,920.95 Lakhs. **Directors' Report Disclosures:** * The directors signing the board report are Anmol Singh Jaggi (Managing Director, DIN: 01293305) and signed on 06/07/2023. * Details of material contracts/arrangements/transactions at arm's length basis are disclosed, including those with Capbridge Ventures LLP, Gensol Consultant Company, Gensol Engineering Limited, Gosolar Ventures Private Limited, Gensol Utilities Private Limited, and Param Care Pvt. Ltd. These involve sales of goods/services, interest expense, and loans & advances. All material contracts have board approval. **Financial Performance & Key Metrics:** * The company's financial performance shows a significant increase in profit compared to the previous year. Profit for the year under review was Rs. 31,68,70,988.39 compared to Rs. 9,21,026 in the previous year. * Total Income for F.Y. 2022-23 was 48,981.34 Lakh, as compared to 60.43 Lakh in F.Y. 2021-22. Total Expenditure for F.Y. 2022-23 was 44,746.76 Lakh, as compared to 47.99 Lakh in F.Y. 2021-22. Profit before tax for F.Y 2022-23 was 4,234.58 Lakh, and after tax was 3,168.71 Lakh. * The directors have not recommended any dividend for the year under review. * The company has an authorized share capital of Rs. 25,00,00,000 divided into 2,50,00,000 equity shares of Rs. 10 each. The paid-up share capital is Rs. 15,01,00,000 divided into 1,50,10,000 equity shares of Rs. 10 each. * The authorized share capital was increased during the year. The company made a bonus issue from the reserve and surplus. * The company utilized its Reserve and Surplus of Rs. 15,00,00,000 to capitalize the same. * The company does not fall under the purview of Section 135 of the Act and hence disclosures with respect to CSR activities are not applicable to the Company. * The company has well established internal controls. **Directorate & Governance:** * Key managerial personnel include Mr. Chirag Kotecha (Whole-time Director), Mr. Anmol Singh Jaggi (Managing Director), Mr. Keval Dave (Company Secretary and CFO), and Mrs. Disha Kotecha (Non-Executive Director). * Fourteen board meetings were held during the year. * The Board of Directors has carried out an annual evaluation of its own performance. **Auditor's Report & Financial Controls:** * The statutory auditors are M/s. Kamlesh Bhojani & Associates, Chartered Accountants. * The report notes adherence to applicable accounting standards, maintenance of adequate accounting records, and preparation of financial statements on a going concern basis. * The company has an internal audit system commensurate with its size and nature of business. * According to the information and explanations given to the auditors, the company is generally regular in depositing undisputed statutory dues. * The Company has not accepted deposit from the public falling within the ambit of Section 73 of the Companies Act, 2013 (Act) and the Companies (Acceptance of Deposits) Rules, 2014. **Key Financial Statement Details:** * Total Equity and Liabilities: ₹8,309.32 Lakhs * Total Assets: ₹8,309.32 Lakhs **Key Shareholders:** * Key shareholders include Anmol Singh Jaggi, Puneet Singh Jaggi, Chirag Kotecha, and Disha Kotecha, each holding more than 5% of the company's shares. **Other Relevant Points:** * There was a material change and commitment affecting the financial position of the Company occurred between the financial year ended on March 31, 2023 and the date of this report. * The company has a business risk management framework to identify and evaluate business risks and opportunities. * The audit report does not note any pending litigation or material foreseeable losses related to long-term contracts.