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ICICI Direct Report
The underpinning positives of Matrimony.com Ltd. are -
1. market leadership (approximately 60% market share) in an underpenetrated online matchmaking segment that accounts for approximately 24% of the overall matchmaking industry (online plus offline),
2. substantial market share in south, east and west India leads to strong pricing power,
3. consistently maintained profitability compared to its rivals, which are making losses,
4. scope for further margin expansion led by cost rationalisation and revenue growth,
5. negative working capital, low capital intensity and strong cash generating characteristics of the business.
In addition, the company being a market leader, will be a key beneficiary of the shift of consumers from offline to online led by rising adoption of smartphones, increase in internet penetration and social distancing.
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