Matrix Comsec targets 50% growth by FY 2016

Baroda-based telecom and security solution company Matrix Comsec aims to achieve 50 per cent growth in overall business by the end of financial year 2015-16. The company on Friday launched internet protocol (IP)-based video surveillance management solution named 'SATATYA SAMAS' for medium and large scale enterprises.

Ganesh Jivani, managing director of Matrix Comsec said. "SATATYA SAMAS offers centralized live view, remote-mobile view, recording, playback, video analytics, backup, archival, alerts, notifications and system management."

He added, "We hope to establish Matrix SATATYA SAMAS as the most preferred IP video surveillance solution by offering best-in-class solution and services to set a new benchmark in the IP video surveillance market."

Sagar Gosalia, senior vice-president for marketing and sales, Matrix Comsec said, "Matrix focuses on building IP video surveillance solutions and it is specifically designed to meet diverse and complex needs of mid-size and large organisations spread across multiple buildings, campuses and locations."

With the launch of this video surveillance management solution, Matrix hopes to create a market for the IP video surveillance segment.

Gosalia said, "In 2014-15, our turnover touched Rs 100 crore and we aim to grow business by 50 percent in the current financial year with our new products. We are expecting 10 per cent growth in turnover from the new product that we launched today."

Matrix spends about 7 to 10 per cent of its turnover on research and development (R&D). The company has so far invested about Rs 50 crore since its inception including manufacturing unit in Baroda. The company spent around Rs 2 crore to develop IP video surveillance.

About the company's future plans, Gosalia said, "We are planning to increase our presence in 500 cities across the globe in the next three years. Matrix exports its various security surveillance products to 60 countries."

The market size of video surveillance segment in India is about Rs 2,000 crore, with low cost surveillance systems dominating half the market.