Matrimony.com (MATRIMONY) Q4 24/25 earnings summary

Executive summary

• Celebrated 25 years in business, maintaining the largest Indian matchmaking service with a market cap of INR 11,043 Mn as of March 31, 2025.

• Operates an asset-light model, offering online and offline matchmaking and marriage services, with 99% of FY25 revenue from matchmaking.

• FY25 was the first year with degrowth, but growth resumed from March and continued into April and May.

• Paid subscription base reached 1 Mn profiles in FY25, with strong brand recognition and a zero-debt balance sheet.

• Board recommended a final dividend of 100% (Rs.5 per share), subject to shareholder approval.

Financial highlights

• FY25 consolidated revenue was INR 4,558 Mn, down 5.3% year-over-year; Q4 FY25 revenue was INR 1,083 Mn, down 2.8% sequentially and 9.1% year-over-year.

• FY25 PAT was INR 453 Mn (9.8% margin), down 8.6% year-over-year; Q4 FY25 PAT was INR 82 Mn, down 17.9% sequentially and 30.3% year-over-year.

• FY25 EBITDA was INR 638 Mn (13.8% margin), down from INR 734 Mn (15.2%) in FY24.

• Cash balance stood at INR 3,243 Mn as of March 31, 2025, with strong operating cash flow to EBITDA at 114%.

• Basic EPS for FY25 was Rs.20.57, compared to Rs.22.26 in FY24.

Outlook and guidance

• Expect year-on-year growth in matchmaking and wedding services billing in Q1 FY26.

• Q1 PAT expected to improve sequentially but remain below Q1 of last year; year-on-year PAT growth anticipated from Q2 FY26.

• Management continues to focus on segmentation strategies, product innovation, and expanding value-added services.

• Confident in continued growth momentum due to product and marketing initiatives.