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, has 15 language based domains under its
umbrella.
Outlook & Valuation:
Going forward, we expect the company to perform better on top-line and bottomline
front considering strong brand value, leadership position, robust technology
and expansion into marriage services segment. Further, it has strong user data
base, which provides competitive edge to the company. At the upper end of the
price band, the pre issue P/E multiples works out be 35.7x of 1QFY2018
Annualized EPS, which is lower compared to peers (Info edge is trading at 46.4x
its 1QFY2018 Annualized EPS). Hence, we recommend ‘SUBSCRIBE’ on the issue
for a mid-to-long term period.
