Highlights of the year
Specialising in providing high-quality crop nutrient products and farm advisory services, we play an integral role in India’s agricultural landscape.
It is with immense pleasure that I present to you our FY 2022-23 annual report, as we complete our first full year of operations.
In the past year, the Indian economy displayed resilience and thrived despite global challenges.
We offer a comprehensive range of crop nutrition and protection solutions.
We have strategically carved a distinctive edge in the industry encompassing all aspects of business right from operations to distribution network and brand presence to a focus on sustainability.
High-quality and cost-effective crop nutrient products are critical to drive agricultural productivity.
We are committed to enhancing agricultural outcomes and improving the lives of the farmers.
Soil testing is crucial for farmers as it assesses soil health, aids in crop and fertiliser selection, and pH level management.
As we aspire to transform into an innovative fertiliser manufacturing enterprise and expand into new segments of the agribusiness market, we place the highest value on our employees’ capabilities.
Advancement of the agri-food ecosystem is at the heart of our business. We firmly believe that this objective is intricately linked to our responsibility towards the planet and communities.
We are committed to community development, as evident in our proactive initiatives even before commencing operations.
Specialising in providing high-quality crop nutrient products and farm advisory services, we play an integral role in India’s agricultural landscape.
We offer a comprehensive range of crop nutrition and protection solutions.
We are committed to enhancing agricultural outcomes and improving the lives of the farmers.
At Matix, we have a strong management team to lead our strategy execution. With their diversified expertise and bringing in more than 100 years of combined fertiliser industry-specific experience, they are contributing to our success.
Our Board brings together the hands-on wisdom and stewardship success of professionals who have held leadership positions with globally renowned businesses. Guiding our strategy formulation and strong governance practices, they help drive Matix’s performance and protecting the interest of all stakeholders.
Leading Matix since September 2021, Mr. Mishra, who has over three decades of professional experience in public, cooperative and private sectors, has brought about operational excellence and professionalism.
He is the former Chairman and Managing Director of National Fertilizers Limited (NFL), India’s second-largest Urea producer and CMD of Rashtriya Chemicals & Fertilizers Limited (RCF) and FACT, Cochin. As Chairman, he has contributed immensely to industry policy working closely with multiple stakeholders. He also held the position of Chairman of the Ramagundam Fertilizers and Chemicals Ltd and Talcher Fertilizers Ltd during its critical phases. He was Co-chairman of the industry body Fertilizer Association of India.
Mr. Mishra’s globally recognised achievement includes being the first executive from the Indian fertiliser public sector to be appointed Director on the Board of the Paris-based International Fertilizer Association (IFA). He is also a Member of the Institute of Cost Accountants of India.
Mr. Thapar was appointed Whole Time Director on March 6, 2023. As Chief Operating Officer since Dec 2021, he is responsible for stable and continuous plant operations.
Mr. Thapar, a B.E. in Chemical Engineering, joined National Fertilisers Limited in 1982, based at its Bhatinda plant till 1996. He was then deputed to work with Toyo Engineering of Japan for two years, overseeing the commissioning of two ammonia plants in China. From 1998 onwards, he worked at various levels in plant operations, projects and technical services at NFL, Bhatinda. In 2016, he was appointed Executive Director of RFCL, supervising the construction of a 2,200 MTPD ammonia plant and the commissioning of a 3,850 MTPD urea plant.
In his 20+ year career as a turnaround and growth specialist, Mr. Menon has ideated, strategised and built brands and businesses across various single-product technology start-ups to transnational diversified conglomerates. In his career, Mr. Menon has raised over USD 1.6 billion debt and over USD 450 million in equity.
Before Matix, Mr. Menon was a Partner at Singhi Advisors, a renowned equity-focussed investment bank known for complex cross-border M&A deals. He has worked as President - Strategy & Business Development at Deepak Fertilisers Ltd. responsible for international growth, and was CEO at Wilson International Trading in Singapore as well as Vice Chairman and Executive Director of Sical Logistics Ltd.
Sanjay is a qualified Chartered Accountant with over 25+ years of experience in handling various facets of finance.
With a track record of having worked across multinational organisations in India and the UK, Sanjay has over two decades in leadership roles and has, in this time, built strong relationships across top domestic and international banks, domestic fixed income institutional investors, and rating agencies.
At Matix, Sanjay is responsible for all finance functions, including secretarial and legal functions. His mandate is primarily for managing the organisation’s capital raising initiatives across domestic & global institutions, working capital management, financial processes & controls, risk management, treasury operations, and digitisation of financial operations.
A Gold-medalist in Soil Sciences from HAU-Hissar and an MBA in Marketing, Mr. Lal joined Matix in January 2022. Currently, he serves as the Chief Marketing Officer overseeing sales, logistics, agricultural services, import, trading, and branding activities.
In his remarkable 36-year career at National Fertilizers Ltd, India’s second-largest Urea producer starting in 1985 as a Management Trainee, he held diverse roles at NFL, gaining hands-on experience in fertiliser marketing, agri-inputs trading, industrial product sales, seed multiplication programmes, channel development and management of rail and road logistics and finally as Executive Director at NFL wherein he played a vital role in its transformation into a multiple-product company with a pan-India presence.
With Matix since 2014, Mr. Singh oversees advocacy and corporate affairs.
With over two and half decades of experience in corporate affairs and managing retail and institutional investors, Mr. Singh has worked across the telecom, industrials and services sectors.
With 30+ years of HR functional experience and expertise in managing HR strategy, employee relations, talent management, organisational development, and employee engagement, Major Das is a much-respected HR expert.
Prior to Matix, he was HR Head at JSW Steel Coated Ltd and before that at Aditya Birla Group’s UltraTech RMC & Building Products Division. He spearheaded the digital recruitment process at Reliance Infocomm and has also led several talent diagnostic studies to build high-performance human capital with successful employee relations and leadership hiring.
Major Das is sought after motivational speaker at corporate and academic institutions, focussing on ‘Human Dimension in Managerial Excellence’
Mr.Agrawal, with Matix since 2010, has actively engaged in commercial procurement activities related to EPC, commissioning, finalisation, and management of technology. He manages gas supply contracts and insurance as well.
He started his professional journey in 1989 with Essar Steel, and worked on projects in South America (Brazil) and the West Indies (Trinidad & Tobago, Guyana), overseeing the establishment of a steel plant and the management of a mining company.
Mr. Agrawal is a Chartered Accountant (ICAI), Cost Accountant (ICMAI), and fellow member of the Insurance Institute of India.
Mr. Kanodia provides strategic direction to Matix, driving its rapid growth and diversification. His commitment to building one of the world’s best-in-class urea plants is reflective of his leadership and foresight.
He has been instrumental in Matix Fertilisers and Chemicals Limited emerging as one of India’s fastest-growing fertiliser companies. His sharp focus on building the right professional team has seen the induction of some of the most seasoned fertiliser industry professionals into Matix.
The results of this drive is clearly reflected in the performance of Matix. Mr. Kanodia holds an MBA from the Wharton School, University of Pennsylvania, USA. He is a member of the Mumbai Chapter of the Entrepreneurs Organisation (EO) and Young President Organisation (YPO).
Leading Matix since September 2021, Mr. Mishra, who has over three decades of professional experience in public, cooperative and private sectors, has brought about operational excellence and professionalism.
He is the former Chairman and Managing Director of National Fertilizers Limited (NFL), India’s second-largest Urea producer and CMD of Rashtriya Chemicals & Fertilizers Limited (RCF) and FACT, Cochin. As Chairman, he has contributed immensely to industry policy working closely with multiple stakeholders. He also held the position of Chairman of the Ramagundam Fertilizers and Chemicals Ltd and Talcher Fertilizers Ltd during its critical phases. He was Co-chairman of the industry body Fertilizer Association of India.
Mr. Mishra’s globally recognised achievement includes being the first executive from the Indian fertiliser public sector to be appointed Director on the Board of the Paris-based International Fertilizer Association (IFA). He is also a Member of the Institute of Cost Accountants of India.
Mr. Khandelwal was a Whole time Director at Matix from Sep 2021.
Earlier in 2011, Kapil was instrumental in assisting the fast-tracking of the Matix Ammonia and Urea Project and then led the takeover of the plant from the EPC Contractor for operations. He, along with his team, is credited for completing key infrastructure such as gas pipeline connectivity to the National Grid, railway siding, access roads, support infrastructure, and managing the local operating environment.
A qualified Chartered Accountant with over three decades of multi-sector experience, Mr. Khandelwal has held senior positions in several large conglomerates.
Mr. Thapar was appointed Whole Time Director on March 6, 2023. As Chief Operating Officer since Dec 2021, he is responsible for stable and continuous plant operations.
Mr. Thapar, a B.E. in Chemical Engineering, joined National Fertilisers Limited in 1982, based at its Bhatinda plant till 1996. He was then deputed to work with Toyo Engineering of Japan for two years, overseeing the commissioning of two ammonia plants in China. From 1998 onwards, he worked at various levels in plant operations, projects and technical services at NFL, Bhatinda. In 2016, he was appointed Executive Director of RFCL, supervising the construction of a 2,200 MTPD ammonia plant and the commissioning of a 3,850 MTPD urea plant.
Mr. Debara is a Chartered Accountant with 50 years of post-qualification experience in F&A, taxation, legal, secretarial, and HR across various sectors of the manufacturing and service industries.
He has held top management positions as CFO and Director-Finance in leading companies. As a practising CA, he has managed statutory and internal audits, company law, and income tax for banks, hotels, IT, FMCG, telecom, and others.
Ms. Bhushan, a practising Chartered Accountant and a Company Secretary, has two decades of experience in International transaction advisory, structuring and regulatory affairs.
She is the Co-chairman of the Business Next Committee at the Indian Merchant Chamber – LW. She is a Member of the Indo-French Chamber of Commerce and Industry, the Committee of International Taxation, the Editorial Committee of WIRC of ICAI and the Committee of Women Empowerment of ICAI.
Nikhil Naik holds a M.Sc in Shipping, Trade and Finance (Distinction) from Bayes Business School, London. During his work experience of 44 years, he has served in leadership roles in Port Management, Shipping, Private Equity and Logistic businesses.
His competency areas include leadership, strategic management of people, businesses and markets, analysis of financials, nurturing, advising management of businesses, building lasting customer relationships and networking with External Agencies and Government. He has served on the Boards of listed companies in India and the UK and presently serves on the Boards of various Indian listed and private companies.
