Matrimony.com Ltd

Meeting Details

• Date: August 11, 2026.
• Type: Group earnings conference call (investor call).
• Mode: Virtual teleconference.
• Organiser: Matrimony.com Limited; ICICI Securities moderated.

Participants

• Role: Managing Director and Chief Executive Officer.
• Role: Vice President of Finance.

Purpose

• Discuss Q1 FY'27 earnings results and outlook.
• Investor Q&A session.

Availability

• Call was recorded.
• Transcript and presentation will be available on the company's website.

Financial Performance

• Consolidated billing Rs 136.0 cr; QoQ +7.8%; YoY +7.8%.
• Matchmaking billing Rs 135.3 cr; QoQ +7.9%; YoY +8.0%.
• Matchmaking revenue Rs 109.5 cr; QoQ +11.7%; YoY +13.6%.
• Matchmaking EBITDA Rs 34.9 cr; margin 26.9%.
• Gap between billing and GAAP revenue ~Rs 5.5 cr.
• If billing matched revenue, EBITDA would be ~Rs 40 cr.
• PAT Rs 19.1 cr; QoQ +96.2%; YoY +127.5%.
• Tax rate for the quarter: 23.8%.
• Cash balance Rs 342 cr; ROCE 36.4%.
• Consolidated EBITDA margin 20.1% in Q1; Q4 12.4%; YoY 11%.
• Astro-Vision share of loss: Rs 0.09 cr.
• Marketing expenses (Matchmaking) Rs 46.5 cr; Q4 Rs 43.5 cr.
• Goodwill impairment taken in Q4 (prior year).
• Love.com launches; regional expansion (Malayalee Love) planned.
• Manyjobs program: >1.5 million job seekers; Tamil Nadu focus; national rollout planned next year.

Operating Update

• Matchmaking: 25,500+ success stories in the quarter.
• Marriage services billing Rs 74 lakh; revenue Rs 96 lakh; EBITDA loss Rs 3.8 cr.
• AI initiatives across automation, service/product improvements, and customer experience.
• Wedding services moved to commission-led model; target around Rs 100 crore run rate.
• Love.com expansion: regional rollout; Malayalee Love; invest to grow profiles.
• Manyjobs: ~1.5 million job seekers; Tamil Nadu focus; national rollout possible next year.

Balance Sheet and Cash Flow

• Cash balance Rs 342 cr at end of Q1 FY'27.
• Return on Capital Employed (ROCE) 36.4%.

Outlook and Guidance

• Q2: Matchmaking billing and revenue to show double-digit YoY growth.
• Q2: PAT to grow triple-digit YoY; profit similar to or slightly better than Q1.
• Wedding services target: Rs 100 crore run rate; momentum expected in coming quarters.
• Pricing: no major ASP increase; continue pricing and packaging adjustments.
• Ongoing AI focus to drive efficiency and customer experience.

Q&A Highlights

• Revenue recognition happens over membership period; Q1 revenue Rs 130.5 cr vs Rs 136 cr billing.
• Current quarter revenue recognition ~97%–99% of billing; varies by quarter.
• Acquisition and capital deployment: evaluating opportunities to reward shareholders; open to acquisitions.
• Wedding services model shift to commission-led; target Rs 100 crore run rate.
• Manyjobs and Bharat Ek Khoj: Tamil Nadu focus; 1.5 million job seekers; possible national rollout next year.
• ATV movements: pricing and package mix cause fluctuations; avoid reading too much into ATV alone.

CFO resignation

• Resignation of CFO Harigovind Krishnasamy effective 17 August 2026, with no reason disclosed.

CFO resignation details

• Name of resigning CFO: Harigovind Krishnasamy.
• Effective date: 17 August 2026 (close of business hours).
• Reason for resignation: not stated.
• Other material reasons: not stated.
• Board acceptance: not explicitly stated.
• Interim/new CFO: no transition details disclosed.

Litigation update

• Litigation update: Free Elective Network Pvt Ltd sued Matrimony.com for Jodi365 mark infringement.
• High Court dismissed suit on 14.07.2022; appeal partially allowed on 11.08.2026.
• Damages relief was dismissed; company may file appeal before the Supreme Court.
• No financial liability disclosed at this time; ongoing material litigation disclosure.

Litigation update: Jodi365 case

• Litigation: Madras High Court partial appeal ruling on Jodi365 mark; damages dismissed.
• Original suit filed by Free Elective Network Private Limited; injunctions sought for mark.
• Order dated 11 August 2026; further appeal to Supreme Court contemplated.
• No damages awarded; potential financial exposure unclear; legal review ongoing.

AGM Details

• 25th AGM held on 11 August 2026 at 10:00 AM via VC/OAVM.
• Remote e-voting occurred 8–10 August 2026; meeting concluded at 10:39 AM.

Dividend

• Dividend of Rs.5 per share approved for FY2025-26.

Resolutions Passed

• Adoption of audited standalone financial statements for FY2025-26; ordinary, passed 99.99%.
• Adoption of audited consolidated financial statements for FY2025-26; ordinary, passed 99.99%.
• Declaration of dividend of Rs.5 per share for FY2025-26; ordinary, passed 99.99%.
• Re-appointment of Shri Chinnikrishnan Ranganathan as director by rotation; ordinary, passed 98.79%.

Director Changes

• Re-appointment of Shri Chinnikrishnan Ranganathan as director by rotation.

AGM Details

• Held on 11 August 2026 at 10:00 AM via VC/OAVM.

Resolutions and outcomes

• Resolution 1: Adoption of standalone financial statements approved; 99.99% in favour.
• Resolution 2: Adoption of consolidated financial statements approved; 99.99% in favour.
• Resolution 3: Dividend of Rs.5 per share approved; 99.99% in favour.
• Resolution 4: Re-appointment of Shri. Chinnikrishnan Ranganathan approved; 98.79% in favour.

Dividend details

• Dividend per share: Rs 5 declared for FY 2025-26.

Director changes

• Re-appointment by rotation of Shri. Chinnikrishnan Ranganathan approved.

Business Overview

• India’s largest matchmaking platform with BharatMatrimony and 17 regional portals.
• Offline presence via retail stores and customized community-focused services.
• Forward-integrating into wedding services: WeddingBazaar, Mandap, vendors across 40+ cities.
• Premium offerings include Assisted Matrimony and Elite Matrimony for affluent customers.
• New platforms Luv.com and MeraLuv target serious relationships and Indo-American audiences.
• Data-driven approach with AI and big data to improve matching and campaigns.

Operational Highlights

• Consolidated billings for the quarter: INR 1,360 Mn; revenues: INR 1,305 Mn.
• Matchmaking billings INR 1,353 Mn; revenues INR 1,295 Mn.
• Paid subscriptions added 0.27 Mn in the quarter, +15.9% QoQ.
• ATV for matchmaking: INR 4,973; up 4.2% YoY.
• PAT INR 191 Mn; YoY growth 127.5%; EBITDA INR 263 Mn; EBITDA margin 20.1%.
• 25,500+ success stories in Q1-FY27; ROCE annualized at 36.4%.
• Cash and investments balance INR 3,417 Mn.

Financial Performance

• Q1 FY27 revenue 1,305 Mn; YoY revenue growth 13.2%.
• Q1 EBITDA 263 Mn; EBITDA margin 20.1%.
• PBT INR 250 Mn; tax INR 60 Mn; PAT INR 191 Mn.
• PAT margin 14.6%.
• FY26 revenue INR 4,600 Mn; EBITDA margin 11.4%.
• Q1 FY27 diluted EPS 9.23.

Capital Structure & Liquidity

• Zero debt; no long-term borrowings.
• Cash and investments INR 3,417 Mn.
• Market cap INR 8,178 Mn; shares outstanding 20.7 Mn.

Strategic Priorities & Outlook

• Forward integration into wedding services to become a one-stop asset-light platform.
• Luv.com and MeraLuv target serious relationships and Indian diaspora.
• WeddingBazaar and Mandap expand offline vendor network across 40+ cities.
• AI-powered matching and analytics to improve user experience.
• Offline retail presence to complement online platform.

Governance & Leadership

• Board includes Murugavel Janakiraman; Deepa Murugavel; S. M. Sundaram; Akila Krishnakumar; C. K. Ranganathan; Rajesh Sawhney.
• Great Place to Work certification received for second consecutive year.
• No governance changes disclosed.