String Metaverse Ltd: ₹556 Cr Sales, 830% Profit Growth – Web3 Startup or Ponzi in Fancy Clothes?
1. At a Glance
String Metaverse Ltd is that friend who was selling paper plates in 2019 and suddenly showed up in 2024 calling himself a “Web3 Founder.” Once known as Bio Green Papers, the company is now into blockchain, AI agents, gaming, and metaverse projects. Market cap: ₹2,773 Cr, CMP ₹238, P/E 58. In true desi style, they went from recycling trash to recycling buzzwords – and surprisingly, the financials don’t look like pure fiction.
2. Introduction
Once upon a time, this was a sleepy paper company. Then NCLT restructured it, wiped out 95% of public shareholding, gave promoters a 93% stake, and voilà – enter String Metaverse. Today, they run blockchain-based games, AI-powered poker, a Web3 browser, and offer “Liquidity as a Service” (basically market making for tokens).
Sounds exciting? Sure. Sounds shady? Also yes.
Here’s the reality check: revenues grew from ₹151 Cr in FY23 → ₹556 Cr in FY25 (3.6× jump). Profits went from ₹11 Cr to ₹48 Cr. Stock price surged from ₹12 in 2023 to ₹292 in 2025, before cooling to ₹238. Twitter bros call it “India’s Roblox + Binance + Meta.” Your auditor calls it “Beta, iss saal GST bharo ya nahi?”
Question for you: If a company sells “bills on chain” and “AI poker,” are you investing in innovation or gambling with your sanity?
3. Business Model (WTF Do They Even Do?)
String Metaverse is basically throwing spaghetti on blockchain and seeing what sticks. Their portfolio:
String Poker & Rummy → casino powered by AI (unclear if your opponent is bot or bhai).
String Browser → Web3 browser with AI agents.
Mid Earth → AI + DePIN (don’t ask, even they can’t explain).
Bills on Chain → upload your bills and get tokens (what could possibly go wrong?).
Liquidity & Market Making → provides volume & spreads for tokens.
They also host esports tournaments, run Web3 advisory, and invest in blockchain startups. Basically: one part gaming company, one part crypto exchange, one part casino.
In short: business model = “sab kuch milega” mall of Web3.
