Matrix bullish on e-SIM business; to keep focus on medical device vertical

International SIM seller Matrix Cellular is bullish on growth in business due to adoption of e-SIM overseas, and expects 30-40 per cent year-on-year jump as foreign travelling opens up.

Topics

telecom services | eSIM | Medical device industry

International SIM seller Matrix Cellular is bullish on growth in business due to adoption of e-SIM overseas, and expects 30-40 per cent year-on-year jump as foreign travelling opens up.

Matrix Cellular CEO Gaurav Khanna told PTI that the company will continue building up the medical device business that it started to sustain business which was adversely impacted due to COVID-19 restrictions on overseas travels.

“Once the travel starts, in the first year, I am expecting Rs 70-80 crore turnover. After that, if there is no hindrance in travelling, growth can be at least 30-40 per cent every year going forward. As far as medical devices are concerned, it’s absolutely a new business,” Khanna said.

The company has started selling SIM cards to Indian students who are travelling overseas for studies in the UK, Europe and Canada.

The company has started a pilot for e-SIM which is not required to be delivered or sold like a traditional SIM card for telecom services. The e-SIM is activated directly on the mobile phone by downloading the profile from the website of telecom companies.

“We are already working on the international website and we have already tested our e-SIM cards. As soon as the travel opens, we should be launching our new website,” Khanna said.

The company touched its peak revenue of Rs 350 crore in 2013 but it declined after telecom operators reduced international roaming call and data charges in 2016 and 2017.

The company’s business dropped sharply after restriction on travel due to the COVID-19 pandemic.

“I would say that two years ago, we were at Rs 106 crore. The business went down to Rs 28 crore last year because of the COVID-19 impact. This Rs 28 crore annual turnover includes our COVID-19 essential turnover, too.

“The moment the travel starts, I am assuming that our turnover should increase immediately. If international e-SIM becomes successful, I would say sky is the limit,” Khanna said.

He said that the company will continue to focus on life-saving products.

“This is not only the oxygen concentrator that we are focusing on but we will focus on the entire range of medical equipment. We will be focusing on other products like oximeters, infrared thermometers and sanitisation, required for home quarantine.

“The demand will be there because everybody has to check a person coming in whether it is an office, society, etc,” Khanna said.

Its medical device business suffered during the second wave with Delhi Police seizing the company’s oxygen concentrators, masks, etc, on allegations of wrong doings. Matrix officials got relief from the court after the police could not present the evidence of any malpractice.

Khanna said the company received a lot of orders for oxygen concentrators from corporates, NGOs and even a political party.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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