MATRIMONY.COM Ltd — Q4 FY26

MATRIMONY.COM Ltd Q4 FY2025-26 Earnings Conference Call https://www.youtube.com/watch?v=uGZrHH1Acrg Published: 15 hours ago

0:02 2 seconds Ladies and gentlemen, good day and welcome to the matrimony Q4 FY26 earning conference call. 0:11 11 seconds As a reminder, all participant lines over the listen only mode and there will be an opportunity for you to ask question after the presentation 0:19 19 seconds concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. Please 0:28 28 seconds note that this conference has been recorded. I now hand the conference over to Mr. Jram Shetty from ICICI securities. Thank you and over to you sir. 0:39 39 seconds Okay. So good evening everyone. On behalf of securities I would like to welcome you all to portal 4 and FI26 earnings call of matrimon.com. 0:50 50 seconds From the company we have Mr. Murav Jani Raman MD and CEO and Mr. Hari Govind 0:58 58 seconds Krishna Swami CFO. The call will begin with the brief management remarks followed by a Q&A session. I would like 1:06 1 minute, 6 seconds to hand over the call to Mr. Jani Ram for his opening remark. Over to you sir. 1:12 1 minute, 12 seconds Uh thank you uh Mr. Jam Seti. Uh good evening everyone. 1:18 1 minute, 18 seconds We achieved doubledigit billing growth of 10.5%age in our matchmaking business. 1:25 1 minute, 25 seconds We completed a share buyback in Q4 of TUI 26 amounting to rupees 58 5 crores to reward our shareholders. 1:37 1 minute, 37 seconds We'll continue to evaluate opportunity to reward our shareholders in the future as well subject to necessary board and shareholders approval. 1:46 1 minute, 46 seconds Considering the immense potential to grow our personal service segment, he opened our first ever elite matrimony center in Hyderabad in Q4 of FI26. 1:55 1 minute, 55 seconds The store is first of its kind in India and poised strategically to strengthen our premier matrimony business going forward. 2:05 2 minutes, 5 seconds AI is now embedded across many of our core products. Several new capabilities are going live in the current quarter 2:12 2 minutes, 12 seconds and the foundation set to scale AI across every business and function. 2:18 2 minutes, 18 seconds Now coming to the results in quarter 4 on a consolidated basis we achieved a building of rupees 126.1 cr a growth of 2:28 2 minutes, 28 seconds 9.9%age year on year and 7% over previous quarter revenue at rupees 116.8 2:35 2 minutes, 35 seconds 8 cr a growth of 7.9% year on year and 3.2%age quarter on quarter for the full year considered building was rupes 488.6 2:44 2 minutes, 44 seconds cr a growth of 8%age year on year revenue at rupees 460 cr a growth of 1% year on year key highlights for the 2:51 2 minutes, 51 seconds matchmaking business in Q4 as are as follows building at rupees 125.4 cr a growth of 10.5%age year on year and 3:00 3 minutes 7.2%age 2 percentage quarter over quarter revenue at rupees 116 crores growth of 8.4% 4% year on year and 3.5% 3:08 3 minutes, 8 seconds quarter over quarter. Paid profiles were 2.34 lakhs at the end of quarter 4, a decline of 4.3% year on year and growth of 3.3%age over previous quarter. 3:18 3 minutes, 18 seconds Average transaction by the matchmaking business increased by 15.3%age year on year and 3.6%age over previous quarter. We created 23 uh 3:28 3 minutes, 28 seconds 100 success stories for the for the quarter. 3:33 3 minutes, 33 seconds Key highlight for the matchmaking business for the full year are as follows. Building at rupees 480 3:40 3 minutes, 40 seconds 485.2 cr of 8.3%age year on year. Revenue at rupees 455.7 3:49 3 minutes, 49 seconds cr of 1.3% yearon year. Average transaction value for the matchmaking business increased by 11.9%age year on 3:56 3 minutes, 56 seconds year. We created more than one lakh success stories during the year. Now coming to the marriage service other business Q4 billing was rupes 73 lakhs a 4:05 4 minutes, 5 seconds decline of 40.7% yearon year and 19.4% quarter over previous quarter revenue at 4:12 4 minutes, 12 seconds rupees 85 lakhs a decline of 36% yearonear and 24.4 4:19 4 minutes, 19 seconds 24.7%age over previous quarter e loss for the quarter was 5.7 cr compared to 4:25 4 minutes, 25 seconds rupees 3.2 cr 3.2 2 cr in quarter 3 and and rupes 4.9 crores in Q4 of last year. 4:33 4 minutes, 33 seconds The losses also include new initiatives such as many jobs for the full year building were rupees 4:40 4 minutes, 40 seconds 3.42 cr a decline of 25.9% yearonear revenue was rupees 4.29 29 cr a decline 4:47 4 minutes, 47 seconds of 27% yearon year. EBITA lost for the year was rupes 15 cr as compared to rups 14.5 cr in the last year. 4:56 4 minutes, 56 seconds Now coming to quarter one, we are highly confident in delivering robust financial performance 5:04 5 minutes, 4 seconds anticipating either double digit building growth or I single digit growth in building and uh revenue growth of uh 5:12 5 minutes, 12 seconds double digit revenue growth and uh more than doubling of profit compared to Q1 of last year. Let me now pass on to our 5:22 5 minutes, 22 seconds CFR going to comment on the key profitable value. 5:27 5 minutes, 27 seconds Thanks Mura. Our EITA margin for the matchmaking business in Q4 is at 22% as 5:33 5 minutes, 33 seconds compared to 19.2% in Q3 and 17.7% a year ago. Marketing expenses for matchmaking 5:41 5 minutes, 41 seconds in Q4 are at 43.5 crores as compared to 43.9 crores in Q3 and 46.7 crores a year 5:50 5 minutes, 50 seconds ago. Excluding ma marketing expenses, our margins in matchmaking are at 59% as 5:56 5 minutes, 56 seconds compared to 58% in Q3. For full year, our EITA margin is at 19% as compared to 6:04 6 minutes, 4 seconds 20.5% last year. Marketing expenses are at 180 crores as compared to 185 crores last year. Excluding marketing expenses, 6:13 6 minutes, 13 seconds our margins in matchmaking are at 58% as compared to 62% last year. On a consolidated basis, our margins in Q4 6:22 6 minutes, 22 seconds are at 12.4% compared to 11.3% in Q3 and 10.8% a year 6:28 6 minutes, 28 seconds ago. Tax rate for the quarter stood at 18.1%. 6:33 6 minutes, 33 seconds PAT is at 9 9.7 crores and a growth of 18.9% yearonear and 17.2% quarteron quarter. 6:43 6 minutes, 43 seconds Share of Q4 loss from Astrovision our associate company is four lakhs for full year on consolidated basis our AITA 6:52 6 minutes, 52 seconds margin are at 11.4% compared to 13.9% last year tax rate for the year stood at 6:59 6 minutes, 59 seconds 21%. Pat is at 34.2 crores as compared to 45.3 crores last year. Share of loss 7:07 7 minutes, 7 seconds from Astrovision our associate company is 33 lakhs as compared to 11.6 6 lakhs last year. Cash and investments closing 7:15 7 minutes, 15 seconds balance is at 308 crores. ROC is at 11.2% for the year. Considering the positive 7:24 7 minutes, 24 seconds developments as explained by Morga, we expect the PAT to more than double in Q1 compared to Q1 of previous year. I would 7:32 7 minutes, 32 seconds like to end with the customary safe harbor statement. Certain statements during this call could be forward-looking state statements on our 7:41 7 minutes, 41 seconds business. These involve a number of risks and uncertainties that could cause the actual results to differ materially 7:48 7 minutes, 48 seconds from such forward-looking statements. We do not undertake to update any such forward-looking statements that may be 7:55 7 minutes, 55 seconds made from time to time by or on behalf of the company unless it is required by law. 8:01 8 minutes, 1 second Thank you. Yeah, we are open to take questions. 8:16 8 minutes, 16 seconds Thank you. We'll now begin the question and answer session. Anyone who wishes to ask question may press star and one on 8:23 8 minutes, 23 seconds their touchstone telephone. If you wish to remove yourself from the question queue, you may press star and two. 8:30 8 minutes, 30 seconds Participants are requested to use handset while asking a question. Ladies and gentlemen, we'll wait for a moment while the question queue assemble. 8:44 8 minutes, 44 seconds The first question is from the line of Primal, an individual investor. Please go ahead. 8:51 8 minutes, 51 seconds Uh yeah, good uh good good evening Mr. Ba. Yes. Hello. Please go ahead. 8:58 8 minutes, 58 seconds Yeah. Yeah. Please go ahead. 9:01 9 minutes, 1 second Uh sir when are you going to remove the pledge shares as well as promoter holding increase quarter quarter but there is no BC announcement that is the 9:10 9 minutes, 10 seconds one thing how much are you spending ads on this particular year because every year you are spending 180 crores but 9:17 9 minutes, 17 seconds when you see that the net profit there is no growth and all these are the two questions combined 9:31 9 minutes, 31 seconds Yeah. Yeah. Uh let me answer that. Uh the marketing expenses uh marketing 9:37 9 minutes, 37 seconds expenses at this point of time uh uh is expected at the similar level until 9:44 9 minutes, 44 seconds otherwise if there is any strong need to increase or decrease. So we tend to operate a similar level. In terms of 9:53 9 minutes, 53 seconds PAT, we just told you expect one per one PAT to more than double compared to the 9:59 9 minutes, 59 seconds Q1 of last year because uh so we now started getting the operating leverage because last year you introduced one-year package the benefits start 10:08 10 minutes, 8 seconds going to happen plus also we've been growing the double digit growth. So marketing remained at similar level and revenue moving up, building moving up. 10:16 10 minutes, 16 seconds So we just told that we expect a sort of either double digit building growth, I single digit building growth or revenue double digits more than doubling 10:24 10 minutes, 24 seconds compared to Q1. So P growth is going to be good this year in terms of SH personal thing. So and probably you know at some point I I remove the black show. 10:36 10 minutes, 36 seconds Yeah it's nothing on the company side it's on the personal side. 10:41 10 minutes, 41 seconds Yeah there is uh BC announcements increasing the shareholder. There is no announcement D announcements chat. 10:50 10 minutes, 50 seconds Uh sorry can you come back that uh then by the promoter right there is no announcements of chat uh 10:59 10 minutes, 59 seconds announcements when he bought and where he bought and all. 11:05 11 minutes, 5 seconds No that is an automated uh intimation which happens. 11:12 11 minutes, 12 seconds Look quarter on quarterly showing but when the promoters are buying or selling they have to announce uh announcements right but that is not showing 11:20 11 minutes, 20 seconds that's an auto automated uh uh thing which has happened since last few years we'll just check and come back 11:29 11 minutes, 29 seconds yeah please thank you thank you thank you okay thank you a reminder to all participants 11:39 11 minutes, 39 seconds that you may press star and want to ask question. The next question is from the line of Anoj from First Capital. Please go ahead. 11:55 11 minutes, 55 seconds Mr. An Mr. Anir, could you please unmute 12:03 12 minutes, 3 seconds yourself since there is no reply from the line of Mr. Anoj 12:11 12 minutes, 11 seconds I'll promote the next one which is Shawas from truth value. Please go ahead. 12:19 12 minutes, 19 seconds Yeah sir my name is Shinias from the true value advisor. I have three questions. 12:25 12 minutes, 25 seconds So I was going through your presentation everything you says the year on year income is around 483 crores that is just 12:33 12 minutes, 33 seconds a small 1% of increase as when as well as the expenses is also around 440 12:41 12 minutes, 41 seconds crores a small increase of 2%. Whereas your profit margin has come down by 25% 12:48 12 minutes, 48 seconds it is around 34 crores something is not adding up in your net profit. This is one thing 12:56 12 minutes, 56 seconds and second is uh so you have introduced that borrow coach what is the update on that one sir. So just I would like to 13:04 13 minutes, 4 seconds how much the income you are gaining on that one which is adding to your total revenue. This is point number two and 13:12 13 minutes, 12 seconds three is you say that marriage service business segment if I if I as per yours and if I see there is a losses mounting 13:19 13 minutes, 19 seconds on this one quarter on quarter. So what is the plan to uh this is building our it also 13:28 13 minutes, 28 seconds ease of the consolidated profit of your uh our uh overall the revenues and profits. So what is your plan or de any 13:38 13 minutes, 38 seconds demerge are going to take place or any some other plan for this one to reduce the losses and also increase the profit of profitability of the company. 13:52 13 minutes, 52 seconds Hello. Hi. Yes. Yeah. 13:56 13 minutes, 56 seconds So on the Yeah. Yeah. The on the pat reduction uh we've got a reduction of 14:03 14 minutes, 3 seconds close to 24%. Right. Uh this is contributed by two things. One of course there is a marginal drop in uh total 14:11 14 minutes, 11 seconds income but there is an increase in uh total expenses by 2.7%. 14:18 14 minutes, 18 seconds Right? that is uh contributing to almost uh uh 9 crores and there is one uh 14:26 14 minutes, 26 seconds finance income has reduced. The finance income has reduced on account of two factors. One the investment balance have 14:33 14 minutes, 33 seconds come down because we are also rewarding the shareholders by buying back. So our funds are getting utilized. Second also 14:41 14 minutes, 41 seconds in terms of the investment yield which has come down due to the repo rate reduction. So because of which uh close 14:49 14 minutes, 49 seconds to 5 crore reduction has happened. So that has contributed to a 24% drop in PAT. 14:56 14 minutes, 56 seconds So on the Vat coach one year building on the till till you marry pack which is 15:06 15 minutes, 6 seconds the oneear pack uh the we started way back in March 25. So the if you look at 15:15 15 minutes, 15 seconds the coming uh quarters and the last quarter the the building has translated into revenue it has started flowing to 15:23 15 minutes, 23 seconds the uh P&L from Q4 onwards. So you you see that uh in the coming quarters our 15:31 15 minutes, 31 seconds billing growth will be uh in line with the revenue growth. 15:35 15 minutes, 35 seconds Just want to add what Ari Goa said. You look at till the last last year the DFA 25 the building with the gap revenue so 15:44 15 minutes, 44 seconds more or less it'll be the same or are very close last year the building was 488 cr but the revenue was 460 cr almost 15:53 15 minutes, 53 seconds 28 cr difference between building and the gap revenue and upon top of the the longer package one year package that you launched so that will the benefit is 16:01 16 minutes, 1 second going to come from this this quarter onwards and in terms of investment on the bar equity is the investment in one of the a based astrology company. It's a 16:09 16 minutes, 9 seconds risk investment. It's one of the startup. So we see an opportunity and uh so it's a it's a it's a startup and you have to we'll continue to monitor and 16:18 16 minutes, 18 seconds again it's a very very early stage startup. We invested and owning certain percentage company in terms of uh the 16:27 16 minutes, 27 seconds wedding services the wedding services that we have moved the model from subscription and service based model. We believe the model now we are adopting we 16:34 16 minutes, 34 seconds believe there's opportunity. We continue to experiment and we expect uh uh this year can be some kind of better traction 16:42 16 minutes, 42 seconds on vending services because we see the new model uh can be the way forward. 16:50 16 minutes, 50 seconds Thank you. 16:54 16 minutes, 54 seconds Thank you. The next question is from the line of Tanya Aurorav and individual investor. Please go ahead. 17:02 17 minutes, 2 seconds Hi sir and uh congratulations on good set of numbers. Uh I just had couple of questions. First one is on the 17:09 17 minutes, 9 seconds enterprise AITA margins. So they have improved sequentially to almost 12.4% in quarter 4. So what is the marginality 17:17 17 minutes, 17 seconds that the investors should expect for FY27? 17:22 17 minutes, 22 seconds No we as you told me you know starting Q1 we see that no profit it's more than doubling. So we see that the margins 17:29 17 minutes, 29 seconds everything going up uh very well. So right and on the paid subscribers 17:37 17 minutes, 37 seconds additions they continue to remain soft uh despite the improving billions. So is the company prioritizing any premiumization over the volume growth? 17:47 17 minutes, 47 seconds Well it's a combination of both we seeing the traction on both the things personal service are growing much better percentage compared to the online but we see the traction online service as well. 17:58 17 minutes, 58 seconds So we see that starting this year that you know there'll be a momentum in the volume growth as well. 18:05 18 minutes, 5 seconds All right. And lastly on the marriage services and others segment so that has continued to report losses and the aeta 18:13 18 minutes, 13 seconds losses are also widening in Q4. So by when can we expect the segment to break even? 18:19 18 minutes, 19 seconds Uh in terms of Q4 losses we taken some impairment. Uh that's one of the reason there's increase in losses. And second thing that we see the wedding services 18:27 18 minutes, 27 seconds we definitely move to a new model and we believe uh you know that model can be a big opportunity again it's still in the 18:36 18 minutes, 36 seconds the stage where you are experimenting certain thing but uh we see definitely action in other services but in terms of when it will break even definitely it's 18:45 18 minutes, 45 seconds a long way to go but it's a more of getting the the product market fit right and getting the uh the opportunity right then it's a more of scaling up so we are 18:54 18 minutes, 54 seconds not uh looking at break even in the near future but more of getting that uh model right and uh where we where we want to 19:04 19 minutes, 4 seconds uh create a very large opportunity for uh our organization so it so I believe the new model we believe possibly can be 19:13 19 minutes, 13 seconds a right model but anyway so give us a couple of quarters or maybe end of the year where we'll be in a better position to comment on it 19:21 19 minutes, 21 seconds right sir that's really helpful thank Thank you. 19:26 19 minutes, 26 seconds A reminder to all participants that you may press star and one to ask question. 19:30 19 minutes, 30 seconds The next question is from the line of DHSH Patil and individual investor. Please go ahead. 19:37 19 minutes, 37 seconds Hello, good afternoon sir. So my first question was on the billing side. So as we can see matchmaking billing billings 19:44 19 minutes, 44 seconds have grown 10.5% yearon year in this fourth quarter which is you know much more than the revenue growth of 8.4%. So I wanted to ask what is driving this 19:53 19 minutes, 53 seconds acceleration in buildings and how sustainable is this trend going into FI27? 19:59 19 minutes, 59 seconds Uh we believe it's sustainable. So we expect sort of double digit building growth also possibly this year as well. 20:06 20 minutes, 6 seconds So the high single digit growth or double digit growth for the FI27 as well. uh what is driving the combination 20:13 20 minutes, 13 seconds of multiple factor uh the growth in personalized services growth in uh the online services because so now the profit growth also happening that sort 20:22 20 minutes, 22 seconds of contributing to a increase in the first time building now we also seeing the traction in the renewal also so I think we have taken a sort of couple of 20:30 20 minutes, 30 seconds years to get things right now we there's a momentum we expect the momentum to continue okay sir so my uh second question is on 20:38 20 minutes, 38 seconds your marketing expenses so we can see that they have also declined by about 6% in in this quarter. So, uh is this due to efficiency? 20:48 20 minutes, 48 seconds Yeah. Yeah. Go on. 20:50 20 minutes, 50 seconds Yeah. No, it's a more of uh the marketing is about you know optimizing it and uh uh spending what really required. So we expect the marketing 20:58 20 minutes, 58 seconds will be on the similar lines until otherwise uh uh if we decide to step up on something or or if there's a scope to 21:06 21 minutes, 6 seconds reduce also we do the timing we can assume the market will be on the similar lines. Sure sir. And sir, uh, another question. Uh, can you just give me some update on your astrology business side? 21:18 21 minutes, 18 seconds Astrology business side. Yes, we there is we have a a based astrology astro free chart and uh we are getting very good number of downloads and the usage 21:26 21 minutes, 26 seconds again we have to uh see whether what is the best way to monetize it. So it's still in the experiment stage. 21:35 21 minutes, 35 seconds Yes sir. And lastly sir on this newer segments uh are you looking for some sort of an you know inorganic growth or some acquisition or partnerships to accelerate this front? 21:45 21 minutes, 45 seconds Uh there is opportunity we'll definitely evaluate you. 21:50 21 minutes, 50 seconds Okay so that's it from my side and all the best for the future. Thank you. Thank you. 21:59 21 minutes, 59 seconds The next question is from the line of Raja an individual investor. Please go ahead. 22:06 22 minutes, 6 seconds Uh hi sir am I audible? Yes yes yes please go ahead. 22:10 22 minutes, 10 seconds Yeah so I had a few questions regarding the competitive landscape in the industry. So given the structural slowdown that we are seeing in 22:19 22 minutes, 19 seconds subscriber growth how large do you think the organized online matchmaking opportunity remains in India? 22:29 22 minutes, 29 seconds Okay. What what your question? Yeah please go ahead. Any other question? 22:33 22 minutes, 33 seconds Oh yeah, my uh other question was that uh do you think that the competition is intensifying from dating apps and other uh digital matchmaking platforms that target younger demographics? 22:46 22 minutes, 46 seconds Okay. Yeah. Anything else? That's it. 22:50 22 minutes, 50 seconds Yeah. Uh uh one question is that uh uh do you think there are any changing changes in the consumer preferences among younger users particularly in 22:58 22 minutes, 58 seconds urban markets and how are you uh you know uh trying to adapt to that? 23:05 23 minutes, 5 seconds Okay thank you. In terms of the organized matrimony business maybe it's over,000 cr or around 1,000 cr at this 23:13 23 minutes, 13 seconds point of time. Uh in terms of dating, dating remain as a small segment uh probably maybe 100 plus cr. Uh and we 23:23 23 minutes, 23 seconds also gone into serious matchmaking. Uh we launched love.com uh and again still in the early stages but having a good traction. So love.com 23:32 23 minutes, 32 seconds is a serious matchmaking uh service from matrimony.com group that luv.com. 23:38 23 minutes, 38 seconds uh in terms of uh structure changing no I think the matimony continue to be the the go to destination for anyone who 23:45 23 minutes, 45 seconds want to get married so while dating is there that's a small part of the overall uh segment so uh so we don't see that 23:54 23 minutes, 54 seconds you know in terms of that dating or serious matchmaking services uh kind of coming even close to matrimony matrimony 24:01 24 minutes, 1 second continue going to be the large part of the category and dating will be there it's a small segment And uh there are 24:08 24 minutes, 8 seconds India is a large country. There are people for various services. So so loud.com are serious matchmaking largely 24:15 24 minutes, 15 seconds in the metros and there are some segment of population. So we have also the product to cater to the segment. 24:24 24 minutes, 24 seconds Thank you sir. And uh just had one more question. So you had spoken regarding the many jobs monetization from when can 24:32 24 minutes, 32 seconds we expect that? uh maybe some guidance on any numbers if you can throw any light on that 24:44 24 minutes, 44 seconds many jobs we already started monetizing uh currently uh it's we started it is you know it's only Tamil we already got 24:52 24 minutes, 52 seconds more than 1 million users registering to many job platform and more than 10,000 companies are using it we started monetizing so again still in the early 25:01 25 minutes, 1 second stages so the end of the Sir, once you reach our revenue milestone, then he may expand to South or even Pan India. 25:10 25 minutes, 10 seconds Okay sir, that answers all of my questions. Thank you so much. Thank you. 25:17 25 minutes, 17 seconds Thank you. The next question is from the line of Priyal Taka, an individual investor. Please go ahead. 25:26 25 minutes, 26 seconds Hello everyone. I wanted to ask uh in the four matrimony reg 25:37 25 minutes, 37 seconds uh sorry to inter ma'am could you please come closer to your answer 25:46 25 minutes, 46 seconds uh pel ma'am your voice is not audible not audible ma'am I don't 25:54 25 minutes, 54 seconds know if continue our challenge uh hearing continue. 26:04 26 minutes, 4 seconds Uh the line has been disconnected. 26:07 26 minutes, 7 seconds A reminder to all participants that you may press star and want to ask question. 26:11 26 minutes, 11 seconds The next question is from the line of Soros Sha an individual investor. Please go ahead. 26:25 26 minutes, 25 seconds Could you please unmute your line and go ahead? Yes sir. Are you audible? Hello. Yeah, please go ahead. 26:34 26 minutes, 34 seconds I want to ask you two questions. Mhm. Yeah, please. 26:47 26 minutes, 47 seconds Could you please come more closer to your hand? 27:03 27 minutes, 3 seconds Yes, you're audible. Please come more closer to your answer. 27:09 27 minutes, 9 seconds The question is does the company continue making market? 27:16 27 minutes, 16 seconds Sorry, his question was not clear. Uh the company what is it? 27:22 27 minutes, 22 seconds Does the company organized online market? 27:31 27 minutes, 31 seconds Uh sorry uh I I didn't get your question back. Can you come again please? 27:42 27 minutes, 42 seconds Uh so the line has been disconnected. 27:45 27 minutes, 45 seconds A reminder to all participants that you may press star and want to ask question. 28:05 28 minutes, 5 seconds The next question is from the line of DHS Patil, an individual investor. Please go ahead. Hello. 28:13 28 minutes, 13 seconds Yeah, please go ahead. But yeah. 28:15 28 minutes, 15 seconds Yeah. Hi sir, thank you for the followup. Uh so firstly uh does the company continue to maintain leadership in the organized online matchmaking market? 28:25 28 minutes, 25 seconds Yes. 28:27 28 minutes, 27 seconds And sir on the elite matrimony segment uh how is that segment performing and how much revenue can we accept expect from that in FI27? 28:37 28 minutes, 37 seconds So the segment is growing but again we don't give the breakup of individual businesses but uh definitely that segment has been growing. 28:46 28 minutes, 46 seconds So can we still get some sort of a ballpark uh number if not any accurate uh number? 28:52 28 minutes, 52 seconds No but we as as I said uh Mr. Dhel we don't share the individual numbers uh but definitely we see opportunity in each segment and that's growing well. 29:03 29 minutes, 3 seconds Okay sir. Thank you. No problem. Yeah. Yeah. 29:07 29 minutes, 7 seconds Thank you. A reminder to all participants that you may press star and want to ask question. The next question is from the line of Anmun Agarwal, an individual investor. Please go ahead. 29:19 29 minutes, 19 seconds Uh hello sir. Uh am I audible? Yes, you are. 29:24 29 minutes, 24 seconds Yeah. Uh hi, good afternoon. Uh so my question is regarding the customer acquisition cost and uh what are the trends that you are seeing uh currently? 29:34 29 minutes, 34 seconds Uh also I wanted to uh know about uh any kind of conversion rates uh and if there are any renewals uh that are happening if you could help me. 29:45 29 minutes, 45 seconds Uh there are nothing any significant uh changes with in terms of customer acquisition costs. Uh it's been fairly 29:52 29 minutes, 52 seconds at a similar level uh in terms of uh any uh in terms of renewal rate or or conversion rate. Definitely we continue 30:00 30 minutes to take uh steps to uh increase both first time conversion rate or renewal rate. So yeah we could definitely see 30:08 30 minutes, 8 seconds that uh there's a there's a marginal increase in uh this both the first time conversion and also renewal on account 30:15 30 minutes, 15 seconds of uh the steps we continue to take here. 30:19 30 minutes, 19 seconds Okay. Uh thank you sir and I had one more question for you. uh so um will we be continuing our investments in say 30:27 30 minutes, 27 seconds newer segments uh and also uh how will they impact uh you know our profitability so I uh would there be like a short-term pressure that would 30:35 30 minutes, 35 seconds that we would face in in this uh due to this I think the losses will be on the similar level in spite of that uh uh you 30:45 30 minutes, 45 seconds know uh we expect as I told you the profit to more than doubled uh so we continue want to invest to get the newer 30:53 30 minutes, 53 seconds opportunities. So it's a more of you know we are generating profit we have a cash it's more that it's important that 30:59 30 minutes, 59 seconds we identify the newer growth opportunity beyond the matchmaking uh uh so that you know uh this thing 31:08 31 minutes, 8 seconds will add up in the future. So while definitely matchmaking has come to the double digit growth while we are taking two steps to further access to growth 31:15 31 minutes, 15 seconds even the matchmaking but however we definitely see the bigger opportunity in the wedding service or other initiatives. So we need to invest and 31:23 31 minutes, 23 seconds get the product right then you can scale up. So so while in though you lose some some money but again we believe it's all 31:30 31 minutes, 30 seconds important uh to identify the next growth level for the organization beyond the core matchmaking business. 31:37 31 minutes, 37 seconds Okay. Uh thank you and I also wanted to know a little bit about the astrology business. So I understand it's a newer 31:44 31 minutes, 44 seconds uh segment for us. uh and I just wanted to know uh how much are we going to invest or how are we going to scale up 31:51 31 minutes, 51 seconds the uh that this segment uh going forward now we are just doing some experiment uh so then we decide what to be done so we 32:00 32 minutes apart from that we also invested in another EA based astrology company so one thing we experiment we also you know 32:07 32 minutes, 7 seconds we saw the opportunity another based astrology company so we al you know interest in this category we'll see how it evolves Thank you. Thank you sir. 32:20 32 minutes, 20 seconds Thank you. The next question is from the line of Rajiv Kura, an individual investor. Please go ahead. 32:27 32 minutes, 27 seconds Uh hi, good evening sir. Am I audible? Yes, you're audible. 32:31 32 minutes, 31 seconds Yes. Hi, good evening. Uh sir, you mentioned that uh the organized matchmaking services market is approximately 1,000 crores if I'm not mistaken. 32:41 32 minutes, 41 seconds uh what would be the size of the uh or percentage of the unorganized matchmaking services market and also uh 32:49 32 minutes, 49 seconds have we been seeing any trends of uh you know uh the share moving from the unorganized to the organized market that 32:57 32 minutes, 57 seconds was one and uh related to that what part of this would be the online matchmaking services and if you have seen any trends 33:06 33 minutes, 6 seconds uh with related uh related to that it's a very difficult to predict what will be the what is the revenue of 33:14 33 minutes, 14 seconds unorganized because unorganized market you know we have a probably thousands and thousands of mom and pop sorry over 33:22 33 minutes, 22 seconds there local marriage bureaus individuals matchmakers it's very difficult so but uh but I believe it is it's 33:29 33 minutes, 29 seconds understandable it is natural that the more and more people go to organize because what organized sector can provide it's very difficult for 33:37 33 minutes, 37 seconds unorganized players because one of the core thing Matchmick it's about that the profiles and the service uh what unlock 33:45 33 minutes, 45 seconds can provide it will be a limited profiles or limited base while they may offer some local connect and personal touch probably we do also personal 33:53 33 minutes, 53 seconds services what so what being provided by these people is there's a local connect and that is that so so we we it's very 34:01 34 minutes, 1 second difficult to estimate or we don't any uh I don't want to say some figure not sure of an organism but again the Second part 34:09 34 minutes, 9 seconds yeah they definitely the it's a natural or it's it's always the case that the more and more people move to the 34:16 34 minutes, 16 seconds organized segment today look at even matrimon you have a product for all segment of the population you have a jod even for the common people or non-deree 34:26 34 minutes, 26 seconds holders but again they're non-deree holders you know not everyone would adopt online but it sometime it takes people time to adopt these offline 34:34 34 minutes, 34 seconds services online service I'm sorry so fair enough Uh so a related question um in terms of the total weddings happening 34:43 34 minutes, 43 seconds if you look at it from that standpoint uh out of the total weddings happening uh what percent would you say would be using online matchmaking services? 34:53 34 minutes, 53 seconds Yeah look at matrimony.com alone you may get you know sort of close to you know around 8 to 10 billion people signing up. So out of 60 million people looking 35:02 35 minutes, 2 seconds for life part India that's almost like we're talking about 15 percentage or more. So there are other players as 35:10 35 minutes, 10 seconds well. We don't know how much of the overlap. So you may say that currently even put together even 15 million you are talking about out of 60 million 35:18 35 minutes, 18 seconds which almost 25%age of people are looking for live partner are using this platform when you're talking about marriage platform. 35:28 35 minutes, 28 seconds Okay. So it's fair to assume that more than 2/3s of the market would still be uh uh you know offline or using unorganized services. 35:38 35 minutes, 38 seconds Uh I I know everyone you know say that kind of people can have a love marriage or they have the you know maybe 35:45 35 minutes, 45 seconds relatives. It's not that everybody need to use a platform online to find a life partner. So there are still friends and 35:54 35 minutes, 54 seconds relatives or you know the people can fall in love during college or at workplace. So while 60 million people look for life 36:02 36 minutes, 2 seconds partner but I don't know and not everyone even come to online. So considering 60 million people looking for life partner 15 million people using 36:10 36 minutes, 10 seconds online and having said even the people using online not everyone needs to find a life partner through online platform. 36:15 36 minutes, 15 seconds So till they know they can find a life of other platform because people are using online platform doesn't mean that they may uh you know ignore the 36:22 36 minutes, 22 seconds reference or option coming from friends and relatives. So you can exclude certain personal people very unlikely they're going to come online. So even 36:30 36 minutes, 30 seconds assuming that out of that million now with the 15 million come to online so still there is a room. So one is about the getting the people to sign up on the 36:39 36 minutes, 39 seconds platform. Other one is not everyone even the 10 million 8 to 10 million what I told our paid subscription are close to million only or million. So the other 36:47 36 minutes, 47 seconds thing is about is not getting the people to sign up again the conversion strategies also another lever for the company. 36:54 36 minutes, 54 seconds Understood. So thank you so much. 36:58 36 minutes, 58 seconds Thank you. A reminder to all participants that you may press star and want to ask question. The next question is from the line of DHS Pat and individual investor. Please go ahead. 37:11 37 minutes, 11 seconds Hello. Yeah. Uh yeah sir. So just one question from my side now. Uh so I just wanted to get an idea on the demand 37:17 37 minutes, 17 seconds trend across you know uh tier 2 and tier three markets and how do you compare it to your sort of metro uh cities in India? 37:27 37 minutes, 27 seconds In fact tier 2 tier three combining is bigger than tier one market. Yeah. 37:33 37 minutes, 33 seconds Okay sir. And uh do you see apart so obviously quarter 3 is the most uh valuable quarter for the company but 37:40 37 minutes, 40 seconds apart from that do you see any other seasonality in terms of quarter 4 and quarter 1 impacting the company in the near term. 37:48 37 minutes, 48 seconds Normally the Q4 and Q1 are the best quarter. Uh then normally Q2 K3 are the are the are the quarter where there are 37:57 37 minutes, 57 seconds inmas pieces a lot of festivals. So 223 yeah there'll be some input normally. 38:05 38 minutes, 5 seconds Okay sir that's it from my side all the best. Thank you. Yeah thank you. 38:14 38 minutes, 14 seconds As there are no further question from the participants. I now hand the conference over to the management for closing comments. 38:23 38 minutes, 23 seconds Thank you very much uh for your interest and uh thank you for all your patience. 38:27 38 minutes, 27 seconds I know last year was year was I would say turn 10 year as we come as you already communicated the Q1 we we expect 38:34 38 minutes, 34 seconds the turnover to happen the benefits start flowing in plus we also continue with our double digit growth or maybe high single digit growth in building and 38:42 38 minutes, 42 seconds revenue to be doubled and uh this will uh help profit to move up well uh starting Q1 of this year onwards. So 38:51 38 minutes, 51 seconds thank you and uh and see you uh next quarter which I hope will be another best quarter. Thank you so much. 39:00 39 minutes Thank you on behalf of ICICI securities. 39:03 39 minutes, 3 seconds That concludes this conference. Thank you for joining us. You may now disconnect your line.