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Matrix Gas And Renewables Unlisted Shares

Financial Year: 2023

Financial Year: 2023

Financial Report Summary

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.

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