WEBSITE BSE:540704 NSE: MATRIMONY Inc. Year: 2001 Industry: BPO/ITeS My Bucket: Add Stock
Last updated: 15:58
No Notes Added Yet
1. Business Overview
Matrimony.Com Ltd. operates as a consumer internet company primarily focused on online matchmaking and related marriage services in India. Its core business model revolves around connecting individuals seeking life partners through its diverse portfolio of matrimony portals, most notably BharatMatrimony. The company generates revenue primarily through subscription fees for premium memberships, which offer enhanced features and visibility. Additionally, it monetizes through value-added services such as assisted matrimony, matrimony retail outlets, event management, and advertising.
2. Key Segments / Revenue Mix
The company's primary revenue driver is its matchmaking services segment, which includes its portfolio of online matrimony portals (e.g., BharatMatrimony, CommunityMatrimony, EliteMatrimony). These services cater to various linguistic, regional, and community preferences within India. A smaller but growing segment includes "Other Services," which encompasses assisted matrimony services, matrimony stores (physical outlets for personalized assistance), and event management related to weddings. The online matchmaking subscriptions constitute the bulk of its revenue.
3. Industry & Positioning
The online matrimony industry in India is dynamic and competitive, characterized by a large addressable market driven by demographic factors and increasing internet penetration. The industry comprises a few dominant national players, alongside regional and niche platforms. Matrimony.Com, through its flagship BharatMatrimony brand, holds a leading position as one of the largest and most recognized online matrimony service providers in India. It competes with other major players like Shaadi.com and Jeevansathi, as well as a multitude of smaller, community-specific portals and newer app-based entrants.
4. Competitive Advantage (Moat)
Matrimony.Com possesses several durable advantages:
Brand Recognition: BharatMatrimony is a well-established and trusted brand in India, built over two decades, which fosters user trust in a sensitive domain like matchmaking.
Scale and Network Effect: A large existing user base attracts more users, creating a powerful network effect where more profiles lead to a higher probability of successful matches, making the platform more valuable.
Data and Technology: Extensive user data and sophisticated algorithms allow for more precise matching, enhancing user experience and success rates.
Local Presence: Its network of physical retail outlets for assisted services provides an omnichannel approach, catering to users who prefer in-person assistance, especially in semi-urban areas.
5. Growth Drivers
Increasing Internet Penetration: Continued growth in internet and smartphone adoption across India, particularly in Tier 2 and Tier 3 cities, expands the addressable market for online matrimony services.
Shift from Traditional Matchmaking: A gradual societal shift towards online platforms for partner search, driven by convenience and wider choices, especially among the younger demographic.
Premiumization and Value-Added Services: Ability to increase monetization through higher-tier subscriptions, personalized assisted services, and diversification into related wedding services (e.g., event planning, photography).
Demographic Dividend: India's large youth population entering marriageable age provides a continuous pipeline of potential users.
Leveraging Data & AI: Enhancing matching algorithms and user experience through advanced data analytics and artificial intelligence to improve engagement and success rates.
6. Risks
Intense Competition: Fierce competition from established rivals, new market entrants, and traditional matchmaking methods can impact market share and pricing power.
User Acquisition and Retention Costs: High marketing and advertising expenses may be required to acquire and retain users in a competitive landscape.
Data Privacy & Security: Risks associated with safeguarding user data and maintaining platform integrity, as breaches or misuse can severely damage brand trust.
Reputational Risk: The platform's credibility can be impacted by issues like fake profiles, scams, or inappropriate behavior, requiring continuous moderation and security measures.
Evolving Social Norms: Changes in societal attitudes towards marriage, relationships, and online interactions could influence user behavior and demand for services.
Regulatory Scrutiny: Potential for increased regulation concerning online platforms, data handling, and consumer protection.
7. Management & Ownership
Matrimony.Com was founded by Mr. Murugavel Janakiraman, who continues to serve as the Managing Director and CEO. He is a pioneer in the Indian online matrimony space. The company is publicly listed, with a significant portion of shares held by the promoter group, indicating committed leadership. Institutional investors and the public also hold substantial stakes. The management team has extensive experience in the internet and consumer services sector.
8. Outlook
Matrimony.Com holds a strong position in the growing Indian online matrimony market, driven by favorable demographics and increasing digital adoption. Its established brand, network effect, and diversified service offerings provide a solid foundation for continued growth. The company's ability to innovate, effectively monetize its large user base through premium and value-added services, and expand its reach into underserved markets will be crucial. However, the business faces significant challenges from intense competition, the need for continuous user acquisition and retention, and the imperative to maintain trust and data security in a sensitive domain. Sustained growth will depend on its execution capabilities in navigating these competitive pressures and evolving market dynamics while successfully expanding its service portfolio.
Our experts help you choose the right stocks based on performance, risk, and growth potential.
Market Cap ₹869 Cr.
Stock P/E 19.2
P/B 4.2
Current Price ₹420.5
Book Value ₹ 99.9
Face Value 5
52W High ₹589
Dividend Yield 1.19%
52W Low ₹ 363.3
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 117 | 119 | 121 | 116 | 111 | 108 | 115 | 115 | 113 | 117 |
| Other Income | 6 | 7 | 7 | 9 | 7 | 11 | 6 | 6 | 6 | 5 |
| Total Income | 124 | 126 | 127 | 124 | 118 | 120 | 122 | 121 | 119 | 122 |
| Total Expenditure | 101 | 102 | 100 | 98 | 98 | 101 | 103 | 102 | 101 | 102 |
| Operating Profit | 23 | 24 | 27 | 26 | 21 | 18 | 19 | 18 | 19 | 20 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 7 | 7 | 7 | 8 | 7 | 7 | 7 | 7 | 7 | 6 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 14 | 15 | 18 | 17 | 12 | 10 | 11 | 10 | 11 | 12 |
| Provision for Tax | 3 | 4 | 4 | 4 | 2 | 2 | 2 | 2 | 2 | 2 |
| Profit After Tax | 11 | 12 | 14 | 13 | 10 | 8 | 9 | 8 | 8 | 10 |
| Adjustments | 0 | 0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
| Profit After Adjustments | 11 | 12 | 14 | 13 | 10 | 8 | 8 | 8 | 8 | 10 |
| Adjusted Earnings Per Share | 5 | 5.3 | 6.3 | 5.9 | 4.6 | 3.8 | 3.9 | 3.6 | 3.8 | 4.7 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 241 | 255 | 293 | 335 | 348 | 372 | 378 | 434 | 456 | 481 | 456 | 460 |
| Other Income | 5 | 5 | 5 | 7 | 17 | 20 | 17 | 18 | 24 | 26 | 34 | 23 |
| Total Income | 246 | 260 | 298 | 343 | 365 | 391 | 395 | 452 | 480 | 508 | 490 | 484 |
| Total Expenditure | 225 | 248 | 234 | 259 | 275 | 319 | 310 | 348 | 388 | 409 | 398 | 408 |
| Operating Profit | 21 | 11 | 63 | 84 | 90 | 72 | 85 | 105 | 92 | 98 | 92 | 76 |
| Interest | 2 | 3 | 6 | 2 | 5 | 5 | 5 | 5 | 6 | 5 | 5 | 4 |
| Depreciation | 8 | 10 | 10 | 10 | 27 | 28 | 26 | 27 | 30 | 28 | 29 | 27 |
| Exceptional Income / Expenses | -14 | -74 | -4 | 13 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -3 | -75 | 43 | 86 | 58 | 39 | 54 | 72 | 56 | 65 | 58 | 44 |
| Provision for Tax | 0 | 0 | 0 | 12 | 16 | 10 | 13 | 18 | 9 | 15 | 13 | 8 |
| Profit After Tax | -3 | -75 | 43 | 74 | 42 | 30 | 41 | 54 | 47 | 50 | 45 | 35 |
| Adjustments | -0 | -0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -3 | -75 | 43 | 74 | 42 | 30 | 41 | 54 | 47 | 50 | 45 | 34 |
| Adjusted Earnings Per Share | -2 | -50.8 | 20.2 | 32.5 | 18.7 | 13 | 17.8 | 23.4 | 21 | 22.3 | 21 | 16 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -5% | 2% | 4% | 7% |
| Operating Profit CAGR | -6% | -4% | 5% | 16% |
| PAT CAGR | -10% | -6% | 8% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -16% | -9% | -14% | NA% |
| ROE Average | 17% | 17% | 18% | 21% |
| ROCE Average | 23% | 24% | 24% | 24% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | -1 | -76 | -30 | 168 | 203 | 228 | 263 | 310 | 253 | 292 | 242 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 5 | 23 | 1 | -2 | 38 | 45 | 46 | 55 | 48 | 34 | 29 |
| Total Current Liabilities | 98 | 177 | 147 | 105 | 118 | 130 | 141 | 155 | 159 | 168 | 183 |
| Total Liabilities | 103 | 124 | 118 | 270 | 358 | 403 | 451 | 520 | 460 | 494 | 453 |
| Fixed Assets | 24 | 28 | 24 | 68 | 124 | 133 | 127 | 100 | 93 | 89 | 85 |
| Other Non-Current Assets | 13 | 11 | 16 | 17 | 13 | 20 | 18 | 41 | 41 | 41 | 69 |
| Total Current Assets | 67 | 84 | 78 | 185 | 222 | 250 | 306 | 336 | 327 | 364 | 298 |
| Total Assets | 103 | 124 | 118 | 270 | 358 | 403 | 451 | 520 | 460 | 494 | 453 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 2 | 11 | 50 | 6 | 17 | 5 | 5 | 9 | 10 | 9 | 8 |
| Cash Flow from Operating Activities | 41 | -8 | 29 | 76 | 69 | 57 | 70 | 78 | 57 | 61 | 57 |
| Cash Flow from Investing Activities | -15 | 1 | -65 | -150 | -51 | -34 | -43 | -53 | 67 | -33 | 57 |
| Cash Flow from Financing Activities | 25 | 18 | -8 | 84 | -29 | -24 | -23 | -24 | -125 | -29 | -104 |
| Net Cash Inflow / Outflow | 51 | 11 | -44 | 11 | -11 | -1 | 4 | 1 | -1 | -1 | 10 |
| Closing Cash & Cash Equivalent | 53 | 23 | 6 | 17 | 5 | 5 | 9 | 10 | 9 | 8 | 18 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | -1.98 | -50.8 | 20.23 | 32.52 | 18.68 | 12.97 | 17.83 | 23.4 | 20.97 | 22.26 | 21 |
| CEPS(Rs) | 3.56 | -44.19 | 25.12 | 36.74 | 30.34 | 25.26 | 29.16 | 35.15 | 34.43 | 35.02 | 34.57 |
| DPS(Rs) | 0 | 0 | 0 | 1.5 | 1.5 | 3.5 | 3.5 | 5 | 5 | 5 | 10 |
| Book NAV/Share(Rs) | -1.85 | -52.71 | -14.44 | 73.43 | 88.6 | 99.53 | 114.5 | 134.68 | 112.58 | 130.04 | 111.04 |
| Core EBITDA Margin(%) | 6.78 | 2.6 | 19.97 | 22.85 | 21.01 | 14.2 | 17.87 | 20.02 | 14.8 | 14.99 | 12.78 |
| EBIT Margin(%) | -0.55 | -28.28 | 16.59 | 26.02 | 18.18 | 11.92 | 15.48 | 17.77 | 13.57 | 14.52 | 13.74 |
| Pre Tax Margin(%) | -1.2 | -29.45 | 14.68 | 25.56 | 16.79 | 10.51 | 14.2 | 16.54 | 12.27 | 13.44 | 12.68 |
| PAT Margin (%) | -1.2 | -29.45 | 14.67 | 22.02 | 12.18 | 7.94 | 10.79 | 12.33 | 10.24 | 10.29 | 9.93 |
| Cash Profit Margin (%) | 2.18 | -25.63 | 18.22 | 24.87 | 19.79 | 15.46 | 17.65 | 18.53 | 16.82 | 16.19 | 16.35 |
| ROA(%) | -3.12 | -66.12 | 35.56 | 38.05 | 13.51 | 7.76 | 9.55 | 11.04 | 9.52 | 10.39 | 9.56 |
| ROE(%) | 0 | 0 | 0 | 108.54 | 23.06 | 13.8 | 16.69 | 18.79 | 16.7 | 18.35 | 17.12 |
| ROCE(%) | -6.74 | 0 | 0 | 92.33 | 33.65 | 20.58 | 23.8 | 26.92 | 21.95 | 25.67 | 23.49 |
| Receivable days | 1.94 | 2.09 | 2.53 | 3.22 | 3.79 | 3.49 | 5.36 | 6.48 | 3.21 | 0.08 | 0.22 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 4394.54 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PER(x) | 0 | 0 | 0 | 23.56 | 34.93 | 20.94 | 54 | 28.49 | 24.52 | 23.56 | 24.38 |
| Price/Book(x) | 0 | 0 | 0 | 10.44 | 7.36 | 2.73 | 8.41 | 4.95 | 4.57 | 4.03 | 4.61 |
| Dividend Yield(%) | 0 | 0 | 0 | 0.2 | 0.23 | 1.29 | 0.36 | 0.75 | 0.97 | 0.95 | 1.95 |
| EV/Net Sales(x) | -0.07 | -0 | -0.01 | 4.92 | 4.06 | 1.35 | 5.3 | 2.99 | 2.02 | 1.96 | 2.28 |
| EV/Core EBITDA(x) | -0.78 | -0.04 | -0.05 | 19.62 | 15.75 | 6.96 | 23.56 | 12.39 | 10.02 | 9.61 | 11.3 |
| Net Sales Growth(%) | 17.51 | 5.55 | 14.91 | 14.56 | 3.87 | 6.72 | 1.63 | 14.98 | 4.9 | 5.61 | -5.3 |
| EBIT Growth(%) | 84.08 | -5347.09 | 167.39 | 79.72 | -27.42 | -30.04 | 31.76 | 32.04 | -19.92 | 13 | -10.39 |
| PAT Growth(%) | 68.21 | -2484.54 | 157.25 | 71.91 | -42.53 | -30.43 | 37.76 | 31.44 | -12.92 | 6.17 | -8.62 |
| EPS Growth(%) | 69.06 | -2462.96 | 139.82 | 60.79 | -42.57 | -30.54 | 37.42 | 31.28 | -10.42 | 6.17 | -5.65 |
| Debt/Equity(x) | -29.62 | -0.64 | -1.45 | 0.04 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Current Ratio(x) | 0.68 | 0.48 | 0.53 | 1.77 | 1.89 | 1.92 | 2.17 | 2.17 | 2.05 | 2.17 | 1.63 |
| Quick Ratio(x) | 0.68 | 0.48 | 0.53 | 1.77 | 1.89 | 1.92 | 2.17 | 2.17 | 2.05 | 2.17 | 1.63 |
| Interest Cover(x) | -0.84 | -24.13 | 8.69 | 56.97 | 13.04 | 8.44 | 12.12 | 14.41 | 10.46 | 13.52 | 13.05 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 51.59 | 51.59 | 51.59 | 51.59 | 53.26 | 53.26 | 53.26 | 54.26 | 54.61 | 58.27 |
| FII | 25.55 | 23.01 | 22.84 | 23.02 | 22.35 | 22.18 | 22.33 | 22.23 | 22.09 | 19.28 |
| DII | 11.81 | 11.93 | 10.7 | 8.91 | 8.51 | 8.64 | 8.71 | 7.51 | 7.35 | 6.95 |
| Public | 11.05 | 13.47 | 14.86 | 16.48 | 15.88 | 15.92 | 15.69 | 16.01 | 15.96 | 15.5 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.15 | 1.17 | 1.18 | 1.2 |
| FII | 0.57 | 0.51 | 0.51 | 0.51 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.4 |
| DII | 0.26 | 0.27 | 0.24 | 0.2 | 0.18 | 0.19 | 0.19 | 0.16 | 0.16 | 0.14 |
| Public | 0.25 | 0.3 | 0.33 | 0.37 | 0.34 | 0.34 | 0.34 | 0.35 | 0.34 | 0.32 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 2.23 | 2.23 | 2.23 | 2.23 | 2.16 | 2.16 | 2.16 | 2.16 | 2.16 | 2.07 |
* The pros and cons are machine generated.
You May Also Know About
Looking to buy unlisted shares or need guidance on the investment process? Our expert Private Equity Advisors are here to assist you with accurate information, real-time pricing, and seamless execution.
Want to sell unlisted shares, liquidate your ESOPs, or understand the step-by-step process of liquidation? Connect with our Buying Team for smooth coordination, quick evaluations, and end-to-end support.
Planning to build or grow your portfolio? For Mutual Fund investments, PMS solutions, tailored portfolio creation, and overall wealth management, our dedicated Wealth Team is ready to guide you.