NSE: MATRIMONY · BSE: 540704
MATRIMONY.COM LIMITED
Runs online matchmaking platforms that connect Indian brides and grooms, earning almost entirely from subscription fees paid by members. In FY26, the Matchmaking Services segment generated ₹455.7 crore, or 99.1% of segment revenue, with an EBIT of ₹56.17 crore. The same period had 0.96 million paid subscriptions across the year, with Q4 FY26 alone carrying 2.34 lakh paid profiles and an Average Ticket Value of ₹5,329 (up 15.3% YoY). The smaller Marriage Services & Others segment brought in only ₹4.29 crore (0.9% of segment revenue) and lost ₹15.3 crore at the EBIT line, with management describing it as experimental and not close to break-even. Cost shape is dominated by people and operating spend: employee costs are 33.1% of revenue and other operating expenses (including marketing, guided at roughly ₹180 crore for FY27) make up 55.7%, while materials are 0% and depreciation is 5.9%. The company also runs a small jobs platform called ManyJobs, which had over 1 million registered users in Tamil Nadu as of the Q4 FY26 call, and has begun a premium offline push with its first Elite Matrimony Center in Hyderabad. It is debt-free with cash and investments of ₹308 crore. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Matchmaking Services (99%), Marriage Services & Others (1%). Subscription-based, asset-light consumer internet company with one dominant segment and a small experimental second business
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 434 | 456 | 481 | 456 | 460 |
| EBITDA (ex other income) | 87 | 67 | 72 | 58 | 52 |
| margin % | 20.0 | 14.8 | 15.0 | 12.8 | 11.2 |
| Owners' profit | 54 | 47 | 50 | 45 | 34 |
| EPS, as reported (₹) | 23.42 | 20.73 | 22.26 | 20.57 | 15.92 |
| ROE % · ROCE % | 17.3 · 21.2 | 18.4 · 20.2 | 17.0 · 20.9 | 18.7 · 22.6 | 16.5 · 19.9 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 78 | 57 | 61 | 57 | 75 |
| Capex | (8) | (6) | (20) | (13) | (11) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 116 | 111 | 108 | 115 | 115 | 113 | 117 | 131 |
| Profit before tax | 17 | 12 | 10 | 11 | 10 | 11 | 12 | 25 |
| Net profit | 13 | 10 | 8 | 8 | 8 | 8 | 10 | 19 |
| EPS (₹) | 5.91 | 4.54 | 3.79 | 3.89 | 3.60 | 3.85 | 4.59 | 9.23 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Matchmaking Services | 344 | 74.7 |
| Marriage Services & Others | 2 | 0.4 |
| Matchmaking services | 112 | 24.4 |
| Marriage services & others | 1 | 0.2 |
| Marriage Services | 1 | 0.3 |
| Total, before eliminations | 460 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| INFO EDGE (I) LTD | 78,867 | 49.2 | 1.95 | 34.6 | 4.4 | 4.7 | 24.0 | 75.9 |
| INDIAMART INTERMESH LTD | 9,838 | 19.9 | 4.10 | 13.3 | 19.8 | 21.6 | 18.6 | 61.1 |
| JUSTDIAL LTD. | 5,847 | 16.1 | 1.45 | 11.2 | 9.0 | 11.0 | 3.2 | 59.9 |
| CRIZAC LIMITED | 2,499 | 11.3 | 4.22 | 7.5 | 37.0 | 47.7 | — | 34.0 |
| MATRIMONY.COM LIMITED ◆ | 1,065 | 24.2 | 5.16 | 14.1 | 16.5 | 17.9 | 4.0 | 25.2 |
| TCC CONCEPT LIMITED | 203 | 2.9 | 0.12 | 1.6 | 3.9 | 2.8 | — | 38.4 |
| JUPITER INFOMEDIA LTD. | 38 | — | 0.93 | 36.8 | 2.4 | 1.5 | 30.2 | 7.9 |
| OLYMPIA INDUSTRIES LTD. | 15 | 7.5 | 0.28 | — | 3.3 | 4.2 | — | 2.2 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 24.2 | 16.1 | 6 of 7 | 17% |
| P/B | 5.2 | 1.4 | 9 of 9 | 0% |
| ROCE | 17.9 | 7.8 | 3 of 8 | 71% |
| ROE | 16.6 | 6.7 | 3 of 8 | 71% |
| Debt / Equity | 0.0 | 0.0 | 1 of 9 | 50% |
| EBITDA margin | 25.2 | 36.2 | 6 of 8 | 29% |
| Revenue growth | 13.2 | 12.3 | 4 of 8 | 57% |
| Profit growth | 127.1 | 36.4 | 1 of 8 | 100% |
| Market cap | 1065 | 1065 | 5 of 9 | 50% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 7 Oct 2026 · Matrimony.com Q2 billings up 10.7% YoY at Rs 131.09 crore | business updates | medium | — | — |
| 9 Sept 2026 · Matrimony.com SLP dismissed in Jodi365 trademark dispute | regulatory legal | high | — | — |
| 18 Aug 2026 · Matrimony.com Q1 FY27 Earnings Conference Call Transcript | investor communications | medium | — | — |
| 17 Aug 2026 · Matrimony.com CFO Harigovind Krishnasamy relieved from position | management changes | high | — | — |
| 12 Aug 2026 · Madras High Court partially allows trademark appeal against Matrimony.com | regulatory legal | high | — | — |
| 12 Aug 2026 · Matrimony.com files newspaper copy of Q1 FY27 results | compliance | minimal | — | — |
| 11 Aug 2026 · Matrimony.com AGM 2026: 4 resolutions passed, Rs 5 dividend approved | board shareholder meetings | medium | — | — |
| 11 Aug 2026 · Matrimony.com Q1 FY27 investor presentation: PAT up 127% YoY, margins expand 910 bps | investor communications | medium | — | — |
| 11 Aug 2026 · Audio recording link for Q1 FY26-27 earnings call shared | investor communications | low | — | — |
| 11 Aug 2026 · 25th AGM held on Aug 11, 2026 - 4 business items transacted | board shareholder meetings | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.