India's Richest People 2026 edition · 1 director · Source: Hurun India
- #1,608 Chetan Ramniklal Shah & family ₹1,200 Cr
Revenue · FY 2025
₹17.63 Cr
▲ 70% YoY
Net profit · FY 2025
₹12.5 Cr
Net margin 70.9%
EBITDA · FY 2025
₹15.98 Cr
EBITDA margin 90.6%
Authorised capital
₹10 Lakh
Registered with MCA
Paid-up capital
₹1 Lakh
Issued & subscribed
Open charges
₹1.59 Cr
Secured borrowings
Company age
19 yrs
Est. 2007
Directors on board
2
As per MCA filings
About Matrix Waste Management Private Limited
Data last updated:
Matrix Waste Management Private Limited is a private limited company based in Mumbai, Maharashtra, India, a subsidiary of Marathon Realty Private Limited. It operates in the general construction services segment of the infrastructure and utilities sector. It was incorporated on 31 July 2007 and has been in existence for over 19 years.
Its director Chetan Ramniklal Shah and family are #1,608 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U74900MH2007PTC172715. Its GSTIN is 27AAFCM3516R1ZZ (Maharashtra).
The company has an authorised share capital of ₹10 Lakh and a paid-up capital of ₹1 Lakh. It is led by directors Samyag Mayur Shah and Chetan Ramniklal Shah.
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Mumbai, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹17.63 Cr, a growth of 70% compared to the previous year. For the same year it recorded a net profit of ₹12.5 Cr (net margin 70.9%) and EBITDA of ₹15.98 Cr (EBITDA margin 90.6%). Revenue has grown at a compounded annual rate (CAGR) of 162% over three years and 37% over five years.
As per MCA filings, the company has open charges of ₹1.59 Cr on record. Court records list 4 cases involving the company, including 1 filed by the company and 3 filed against it; 1 case is pending.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website marathon.in.
Company details
CIN U74900MH2007PTC172715
Registration Number 172715
Incorporation Date 31 July 2007
ROC Mumbai
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Parent Company Marathon Realty Private Limited
Compliance Status Active Compliant
Recognitions & Rankings of Matrix Waste Management
Contact details
Matrix Waste Management Private Limited's registered office is in Mumbai, Maharashtra. Its website is marathon.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address702 Marathon Max Junction Of Mulund – Goregaon Link Road M, Ulund (W), Mumbai, Maharashtra, India – 400080
- IndustryInfrastructure and Utilities, General Construction Services
To see the full contact details of Matrix Waste Management Private Limited, buy the company report.
Comprehensive company report
Matrix Waste Management Private Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
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Business activity
The main business activity of Matrix Waste Management is administrative and support service activities. In detail, this covers office administrative, office support and other business support activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| N | Administrative and support service activities | 82 | Office administrative, office support and other business support activities |
To see the full business activity and turnover split of Matrix Waste Management Private Limited, buy the company report.
Financials of Matrix Waste Management Private Limited
FY 2025 filings availableMatrix Waste Management Private Limited reported revenue of ₹17.63 Cr (up 70% YoY) for FY 2025.
Revenue · FY 2025
₹17.63 Cr ▲ 70%
Net profit · FY 2025
₹12.5 Cr margin 70.9%
EBITDA · FY 2025
₹15.98 Cr margin 90.6%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 70%
3 years · compounded
▲ 162%
5 years · compounded
▲ 37%
EBITDA CAGR growth
1 year
▲ 77%
3 years · compounded
▲ 453%
5 years · compounded
▲ 49%
Revenue has grown at a compounded annual rate (CAGR) of 37% over five years, including 70% growth in the latest year. EBITDA rose 77% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA | ₹15.98 Cr | ||||
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| Net Profit (PAT) | ₹12.5 Cr | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 90.6% | ||||
| Net Profit Margin | 70.9% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of Matrix Waste Management Private Limited, buy the company report.
Board of directors of Matrix Waste Management Private Limited
Matrix Waste Management has 2 current directors and 3 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Samyag Mayur Shah Also directs: Marathon Nextgen Realty Limited, Nexzone Land Private Limited, Matrix Fiscal Private Limited and 5 more | Director | 01 Jan 2016 | 10 Years 9 Months | Current |
| Chetan Ramniklal Shah Also directs: Marathon Construction LLP, Marathon Buildcon LLP, Matrix Green Housing and Commercial Developers LLP and 5 more | Director | 31 Jul 2007 | 19 Years 2 Months | Current |
Auditor
Matrix Waste Management Private Limited is audited by Preeti Singh & co. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Preeti Singh & co. | FY 2023 | 134830W |
Shareholding
The shareholding of Matrix Waste Management Private Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Matrix Waste Management Private Limited, buy the company report.
Charges & borrowings
Open charges
₹1.59 Cr
Satisfied charges
None
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 07 Mar 2024 | 100921317 | Others | ₹1.5 Cr | Open | |
| 27 Aug 2023 | 100783858 | Hdfc Bank Limited | ₹9.46 Lakh | Open |
Total charge records: 2 View all charges
Legal cases
Matrix Waste Management Private Limited has 4 court cases on record: 1 filed by Matrix Waste Management, 3 filed against it. 1 case is pending and 3 are disposed.
Total cases
4
Filed by the company
1
Filed against the company
3
Pending
1
Disposed
3
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 3 | 2 | 1 |
| District courts | 1 | 1 | 0 |
Cases on record (4 of 4)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Commercial suit | Filed against the company by Moongipa Development and Infrastructure Limited | Disposed |
| Bombay High Court | Court case (NMCD) | Filed against the company by Moongipa Development and Infrastructure Limited | Disposed |
| High Court, MAHARASHTRA | Writ petition | Filed by the company against State of Maharashtra and Anr and 1 other | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Civil suit | Filed against the company by individuals | Disposed |
To see the full case history of Matrix Waste Management Private Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Matrix Waste Management Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Matrix Waste Management has 1 GST registration: 1 active.
Total GSTINs
1
Active
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAFCM3516R1ZZ | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Matrix Waste Management Private Limited, buy the company report.
Recent activity
Matrix Waste Management Private Limited has 5 board changes on record since 2007: 2 appointments and 3 cessations. The latest: Samyag Mayur Shah ceased to be Additional Director on 30 Sep 2016.
AGM
Matrix Waste Management Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Filing
Matrix Waste Management Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Mumbai.
Charges
A charge with Others amounted to Rs. 150.00 Lakh with Charge ID 100921317 was registered on 07 Mar 2024.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 9.46 Lakh with Charge ID 100783858 was registered on 27 Aug 2023.
Ceased
Samyag Mayur Shah ceased to be Additional Director.
Appointed
Samyag Mayur Shah was appointed as Director.
Ceased
Sonal Mayur Shah ceased to be Director.
Ceased
Mayur Ramniklal Shah ceased to be Director.
Appointed
Chetan Ramniklal Shah was appointed as Director.
Incorporation
31 Jul 2007
Matrix Waste Management Private Limited was registered on 31 Jul 2007 with Roc Mumbai & aged 19 years 2 months as per MCA records.
News
Frequently asked questions
Matrix Waste Management is an active private limited company based in Mumbai, Maharashtra, India. The company works in general construction services, within the infrastructure and utilities industry. It was incorporated on 31 July 2007 (19+ years old) and is registered under CIN U74900MH2007PTC172715.
Matrix Waste Management has 2 current directors:
- Samyag Mayur Shah - Director
- Chetan Ramniklal Shah - Director
The latest financial statements of Matrix Waste Management on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Matrix Waste Management is 27AAFCM3516R1ZZ, registered in Maharashtra.
The CIN (Corporate Identification Number) of Matrix Waste Management is U74900MH2007PTC172715. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Matrix Waste Management has 4 court cases on record: 1 filed by the company and 3 filed against it. 1 is pending. Most are in the high courts.
Matrix Waste Management was incorporated on 31 July 2007, making it 19+ years old. It is registered with the Registrar of Companies, Mumbai.
Samyag Mayur Shah ceased to be Additional Director on 30 Sep 2016. Samyag Mayur Shah was appointed as Director on 01 Jan 2016. Sonal Mayur Shah ceased to be Director on 01 Jan 2016. Matrix Waste Management has 5 board changes on record in total.
Matrix Waste Management can be reached through the website marathon.in. Its registered office is in Mumbai, Maharashtra, India.
The registered office of Matrix Waste Management is at 702 Marathon Max Junction Of Mulund – Goregaon Link Road M, Ulund W, Mumbai, Maharashtra, India – 400080.