Matrix Geo Solutions Ltd(MGSL)

NSE: MGSL

₹ 48.95-1.11%refreshed 26 Oct, 03:30 pm ISTMarket cap: ₹ 71 crUpdated: 24 Oct 2026

About

Matrix Geo Solutions Ltd provides geospatial and consultancy services, including drone and survey work, across the water, railways, mining, power and infrastructure sectors in India and abroad. Its revenue in FY26 was 40.1 (Rs crore), with 36 active projects under execution in Q1 FY27. Its shares are listed on the NSE Emerge platform.^[1][2][3]

Services and platforms

Provides consultancy and geospatial services across the water, railways, mining, power and infrastructure sectors (Q1 FY27).^[2]
Building Digital Twin platforms for specific sectors (RailTwin, Mine Insighter, PowerTwin), aimed at SaaS and enterprise licensing with yearly maintenance contracts. The build is expected to take 6 - 12 more months (as of Q1 FY27).^[2]
Management called the Mozambique rail project its first enterprise SaaS-type sale (Q1 FY27).^[2]

Operations and projects

Was executing 36 active projects across several Indian states, plus one international project in Mozambique, in Q1 FY27.^[2]
The Nacala Rail Corridor project in Mozambique (1,000+ km) was 70% complete in Q1 FY27.^[2]
Headcount grew 30% in FY26, and revenue per person rose about 192%.^[2]

Order book and bidding

Won new orders of about ₹6.41 Cr in Q1 FY27.^[2]
Submitted 17 bids worth about ₹7.92 Cr in Q1 FY27.^[2]
Confirmed order book was about ₹18 Cr and the active bid pipeline about ₹32 Cr at the end of FY26.^[2]
Won the Narmada Parikrama project, worth about INR 6.2 crores including GST (as of Q1 FY27).^[2]

Customers and markets

About 82% of FY26 clients were repeat customers.^[2]
International business was about INR 10 crores, close to 25% of FY26 revenue.^[2]
International clients pay in 15 - 60 days, while domestic receivables take 180 - 200 days (FY26).^[2]
Management expects international revenue to be 25 - 30% of the total in FY27.^[2]

Expansion and capex

About ₹20 Cr, roughly the remaining 50% of IPO proceeds, is to be spent on next-generation drones and equipment within about 3 months of Q1 FY27.^[2]
The FY26 annual report reallocated IPO proceeds toward working capital and operational capex. A balance of ₹3.42 Crore remains assigned to the original drone and survey equipment objects.^[3]
Management targets FY27 revenue of about INR 65 crores and INR 500 crores in about five years (around FY31).^[2]

Recent developments

Q1 FY27: empanelled by PFC Consulting Limited (PFCCL) for consultancy and geospatial services, which lets it take part in PFCCL assignments on a pre-qualified basis.^[2]
The 18th AGM was held on 10 September 2026 by video conference.^[3]

Market Cap

₹71 Cr

High / Low

₹111 / 48

Stock P/E

8.3

Price / Book

1.3

Book Value

₹45

EPS

₹6.9

No. of Shares

1.46 Cr

ROCE

20.3%

ROE

15.4%

OPM

32.9%

Debt / Equity

0.03

Sales

₹40 Cr

Net Profit

₹10 Cr

Promoter holding

67.5%

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