Matrimony.com Ltd. share price target

Matrimony.com’s (Matrimony) matchmaking revenue grew 8% QoQ and 5.6% YoY in Q1FY24. Billings in matchmaking increased 3.8% QoQ and 6.5% YoY in Q1FY24 vs 8.6% QoQ and 3.9% YoY in Q4FY23. Paid subscriptions were up ~12% YoY. We believe this indicates improving sentiment and augurs well for revenue growth in FY24E.

Matrimony’s revenue trend in Q4FY23 improved sequentially after two consecutive quarters of decline. Also, billings in matchmaking increased 8.6% QoQ and 76.9% YoY in Q4FY23 vs 1.6% QoQ and 2.1% YoY in Q3FY23. Paid subscriptions were up ~12% YoY.

Matrimony.com’s (Matrimony) revenues from matchmaking services were impacted in Q3FY23 due to postponement of subscription purchases in the previous quarter. This happened due to adverse seasonality of auspicious dates in Q2FY23.

According to the management, Matrimony’s Q2FY23 performance (especially matchmaking services) was impacted by heavy seasonality due to presence of inauspicious days across the country.

In the near term, we expect the company's billing and revenues to be impacted QoQ due to lockdowns & lower productivity. Hence, matchmaking revenues are expected to be subdued in Q1FY22E. However, with the easing of lockdowns & vaccinations we expect revenues to improve post Q1FY22E. In addition, introduction of new products (like IIMIIT matrimony), improved subscriber growth (led by differentiated pricing, focus on Tier II & Tier III cities and improving conversion), increasing market share in north (expects to gain healthy market in the next two years) and inorganic opportunity (due...

The company's paid subscribers increased 25.7% YoY mainly led by company's focus on Tier II and Tier III cities to drive subscriber growth. In addition, Matrimony is now approaching with differentiated pricing, which will help in targeting & converting active subscribers to paid subscribers. Further, increasing market share in the north (that we believe is equally distributed among competitors) is expected to drive paid subscriber growth. This coupled with double digit growth (up 13.5% YoY) in matchmaking billing in current quarter and company's expectation of double digit billing...

Historically revenues have grown at a CAGR of 6% in FY17-20 mainly led by 6% CAGR in pricing. However, the company's paid subscribers have remained flat mainly due to high pricing and focus on metro cities. Nevertheless, over the years, increase in online penetration has led to subscriber growth across tiers. Hence, the company is now focusing on Tier II and Tier III cities to drive subscriber growth. In addition, it is now focusing on increasing market share in the north (that we believe is equally distributed among competitors) and increasing conversion of active (that has grown at...

For 4QFY2018, Matrimony.com Ltd (MCL) posted results in-line with our expectations on both top-line as well as bottom-line fronts. Consolidated revenues grew by ~12% yoy and operating margins were also higher yoy. On the bottomline front, MCL reported growth of ~26% yoy to `17cr on the back of strong topline growth and operating performan..

Incorporated in 2001, Matrimony.com Ltd (MCL) is engaged in providing online matchmaking and marriage services through internet and mobile platforms in India and internationally. Currently, MCL has a database comprising of 3.3 million active profiles (as of December 31, 2017) and 140 retail centers distributed across India. Its flagship b..

Incorporated in 2001, Matrimony.com is engaged in providing online matchmaking and marriage services. It offers its services through Internet and mobile platforms in India and internationally. It is one of the first companies to provide online matchmaking services in India, having database comprising 3.08 million active profiles (being profiles that have been published or logged in at least once during the prior 180 day period). It offers a range of targeted and customized products and services that are tailored to meet the specific requirements of customers based on their religious or caste preferences or other criteria such as marital status and age bracket. As of June 30, 2017, it had 140 retail centers...

Issue Open: Sept 11 Sept 13 2017. Price Band: Rs. 983 985 (A discount of Rs 98 is offered to investors in retail category) Issue Size: *50,87,051 Equity Shares Issue Open: Sept 11 Sept 13 2017. Price Band: Rs. 983 985 (A discount of Rs 98 is offered to investors in retail category) Issue Size: *50,87,051 Equity Shares

Matrimony.com Limited (Matrimony) is the leading provider of Online Matchmaking Services in India in terms of the average number of website pages viewed by unique visitors in June 2017 (Matrimony.com data does not include data from all sites under Matrimony.com). Company's business currently comprises two segments (i) matchmaking services and (ii) marriage services and related sale of products. In fiscal 2017, matchmaking services and marriage services accounted for all of their revenue and there was no revenue from the related sale of products. The company delivers matchmaking services to their users in India and the Indian diaspora through their websites, mobile sites and mobile apps complemented by their on-the-ground network in India. Company's brand, BharatMatrimony.com, has been ranked as Indias most trusted online matrimony brand by The Brand Trust Report India Study 2014 and their other...

Matrimony.com is a 16 year old Chennai head-quartered company, providing online match making and marriage related services in India, through a bouquet of websites such as bharatmatrimony.com, communitymatrimony.com, elitematrimony.com, assisstedmatrimony.com among others, having close to 7 lakh annual subscriptions. Matrimony.com currently comprises two segments (i) matchmaking services and (ii) marriage services and related sale of products. Matrimony.com is the leading provider of online matchmaking services in India in terms of the average number of website pages viewed by unique visitors in June 2017. It delivers matchmaking services to our users in India and the Indian diaspora through its websites, mobile sites and mobile apps complemented by our on-the-ground network in India. The company has well-integreted Online and Offline network.As of June 30, 2017, they had 140 retail centers distributed across India where customers...

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Matrimony.com Ltd. (Matrimony) is the leading provider of online matchmaking services in India in terms of the average number of website pages viewed by unique visitors in Jun. 2017. The company will not receive any proceeds from the OFS. Of the net proceeds from fresh issue, around 41% will be utilized for the repayment of its overdraft facilities, around 40% will be used to purchase land for the construction of office premises and around...

Incorporated in 2001, Matrimony.com Ltd is a leading provider of online matchmaking services in India. According to the comScore Report, it is the leading provider of online matchmaking services in India in terms of average number of website pages viewed by unique visitors in June 2017. Business comprises two segments: (i) matchmaking services and (ii) marriage services and related sale of products. In FY17, Matrimony.com reported revenues of | 292.8 crore where matchmaking services comprised 95.9% of total revenues while marriage services contributed...

Incorporated in 2001, Matrimony.com (MCL) today is the leader in match making services. The company provides online matchmaking and marriage services through Internet and mobile platforms in India and internationally. Currently, the company has a huge database comprising of 3.08 million active profiles. Its flagship brand, BharatMatrimony..