Matrimony.com Q4 Review - Another Muted Quarter; New Initiatives May Take Time To Manifest: ICICI Securities

ICICI Securities Report

The matchmaking services industry continues to be in a state of flux given muted revenue growth as user behaviour evolves rapidly. Matrimony.com continues to be the market leader in the space.

However, litigation costs have impacted its ability to invest more in growing the space.

The company has launched new initiatives such as:

1. ‘MeraLuv’ – exclusive dating app for Indian-Americans and

2. ’Elite Matrimony’ kiosks at airports across major cities.

It is also planning to launch ‘Love.com’ by Q2 FY25, an app for people looking for serious relationships.

However, according to the management, the upside from these initiatives is unlikely to manifest in the near term.

We maintain Add given the relatively inexpensive valuation with a target price of Rs 601.

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