MATRIMONY.COM 2023-24 Annual Report Analysis

Thu, 18 Jul

MATRIMONY.COM has announced its results for the year ended March 2024. Let us have a look at the detailed performance review of the company during FY23-24.

MATRIMONY.COM Income Statement Analysis

• Operating income during the year rose 5.6% on a year-on-year (YoY) basis.
• The company's operating profit increased by 7.0% YoY during the fiscal. Operating profit margins witnessed a fall and down at 15.0% in FY24 as against 14.8% in FY23.
• Depreciation charges decreased by 5.2% and finance costs decreased by 12.5% YoY, respectively.
• Other income grew by 7.3% YoY.
• Net profit for the year grew by 6.2% YoY.
• Net profit margins during the year grew from 10.2% in FY23 to 10.3% in FY24.

MATRIMONY.COM Income Statement 2023-24

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Net Sales	Rs m	4,558	4,814	5.6%
Other income	Rs m	244	262	7.3%
Total Revenues	Rs m	4,802	5,075	5.7%
Gross profit	Rs m	674	721	7.0%
Depreciation	Rs m	300	284	-5.2%
Interest	Rs m	59	52	-12.5%
Profit before tax	Rs m	559	647	15.7%
Tax	Rs m	93	152	63.7%
Profit after tax	Rs m	467	496	6.2%
Gross profit margin	%	14.8	15.0
Effective tax rate	%	16.6	23.4
Net profit margin	%	10.2	10.3

Don't Miss: Key Information for Long-term Investors

MATRIMONY.COM Balance Sheet Analysis

• The company's current liabilities during FY24 stood at Rs 2 billion as compared to Rs 2 billion in FY23, thereby witnessing an increase of 5.3%.
• Current assets rose 11% and stood at Rs 4 billion, while fixed assets fell 3% and stood at Rs 1 billion in FY24.
• Overall, the total assets and liabilities for FY24 stood at Rs 5 billion as against Rs 5 billion during FY23, thereby witnessing a growth of 7%.

MATRIMONY.COM Balance Sheet as on March 2024

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*	% Change
Networth	Rs m	2,506	2,895	15.5
Current Liabilities	Rs m	1,591	1,676	5.3
Long-term Debt	Rs m	0	0	0.0
Total Liabilities	Rs m	4,604	4,936	7.2
Current assets	Rs m	3,268	3,641	11.4
Fixed Assets	Rs m	1,336	1,294	-3.1
Total Assets	Rs m	4,604	4,936	7.2

MATRIMONY.COM Cash Flow Statement Analysis

• MATRIMONY.COM's cash flow from operating activities (CFO) during FY24 stood at Rs 612 million, an improvement of 6.8% on a YoY basis.
• Cash flow from investing activities (CFI) during FY24 stood at Rs -327 million on a YoY basis.
• Cash flow from financial activities (CFF) during FY24 stood at Rs -292 million, an improvement of 77% on a YoY basis.
• Overall, net cash flows for the company during FY24 stood at Rs -6 million from the Rs -8 million net cash flows seen during FY23.

MATRIMONY.COM Cash Flow Statement 2023-24

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-23	Mar-24
Cash Flow from Operating Activities	Rs m	573	612	6.8%
Cash Flow from Investing Activities	Rs m	667	-327	-
Cash Flow from Financing Activities	Rs m	-1,248	-292	-
Net Cash Flow	Rs m	-8	-6	-

Current Valuations for MATRIMONY.COM

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 22.3, an improvement from the EPS of Rs 21.0 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 606.0, stands at 27.2 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 4.7 times, while the price to sales ratio stands at 2.8 times.
• The company's price to cash flow (P/CF) ratio stood at 17.4 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*
Sales per share (Unadj.)	Rs	204.7	216.2
TTM Earnings per share	Rs	21.0	22.3
Diluted earnings per share	Rs	21.0	22.3
Price to Cash Flow	x	14.9	17.4
TTM P/E ratio	x	24.5	27.2
Price / Book Value ratio	x	6.1	4.7
Market Cap	Rs m	15,306	13,568
Dividends per share (Unadj.)	Rs	5.0	5.0

Ratio Analysis for MATRIMONY.COM

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 2.2x during FY24, from 2.1x during FY23. The current ratio measures the company's ability to pay short-term and long-term obligations.

Interest Coverage Ratio: The company's interest coverage ratio improved and stood at 13.5x during FY24, from 10.5x during FY23. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

• Profitability Ratios

Return on Equity (ROE): The ROE for the company declined and down at 17.1% during FY24, from 18.6% during FY24. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

Return on Capital Employed (ROCE): The ROCE for the company declined and down at 24.1% during FY24, from 24.7% during FY23. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

Return on Assets (ROA): The ROA of the company declined and down at 11.1% during FY24, from 11.4% during FY23. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-23*	12 Mar-24*
Current ratio	x	2.1	2.2
Debtors’ Days	Days	1	1
Interest coverage	x	10.5	13.5
Debt to equity ratio	x	0.0	0.0
Return on assets	%	11.4	11.1
Return on equity	%	18.6	17.1
Return on capital employed	%	24.7	24.1

To see how MATRIMONY.COM has performed over the last 5 years, please visit here.

MATRIMONY.COM Share Price Performance

Over the last one year, MATRIMONY.COM share price has moved down from Rs 630.0 to Rs 606.0, registering a loss of Rs 24.0 or around 3.8%.

Overall, the S&P BSE SENSEX is up 21.2% over the year.

(To know more, check out historical annual results for MATRIMONY.COM and quarterly results for MATRIMONY.COM)