Dear Shareholders,
The Board of Directors of your Company takes pleasure in presenting the
Twenty Fourth annual Report of the Company together with the audited consolidated &
standalone financial statements and the auditor's Report thereon for the financial
year ended March 31, 2025.
The results of operations for the year under review are given below:
RESULTS OF OPERATIONS in Lakhs, except per equity share data
|
Consolidated |
|
Standalone |
|
|
FY 25 |
FY 24 |
FY 25 |
FY 24 |
1. Net Revenue |
45,584 |
48,136 |
44,700 |
47,279 |
2. Other Income |
549 |
131 |
557 |
149 |
3. Total income (1+2) |
46,133 |
48,267 |
45,257 |
47,428 |
Expenditure: |
|
|
|
|
a) Employee Benefit Expenses |
14,156 |
13,968 |
13,966 |
13,774 |
b) Advertisement and Business Promotion
Expenses |
18,842 |
18,682 |
18,861 |
18,696 |
c) Other Expenses
(Infrastructure / Communication/ Administration Expenses) |
6,759 |
8,272 |
6,696 |
8,237 |
4. Total expenditure |
39,757 |
40,922 |
39,523 |
40,707 |
5. EBITDA(3-4) |
6,376 |
7,345 |
5,734 |
6,721 |
6. Depreciation/Amortization |
2,926 |
2,840 |
2,825 |
2,736 |
7. Finance Cost |
480 |
517 |
479 |
515 |
8. Finance Income |
2,824 |
2,484 |
3,296 |
2,914 |
9. Profit before tax and share of profit /
(loss) from associate (5-6-7+8) |
5,794 |
6,472 |
5,726 |
6,384 |
10. Share of loss from associate |
(12) |
(1) |
- |
- |
11. Net Profit before tax (9-10) |
5,782 |
6,471 |
5,726 |
6,384 |
12. Tax Expense |
1,254 |
1,516 |
1,233 |
1,539 |
13. Net Profit after tax (11-12) |
4,528 |
4,955 |
4,493 |
4,845 |
14. Other Comprehensive Income- Net of Tax |
(40) |
(44) |
(31) |
(52) |
15. Total Comprehensive Income (13+14) |
4,488 |
4,911 |
4,462 |
4,793 |
16. Retained Earnings (Opening Balance) |
24,012 |
20,165 |
24,163 |
20,425 |
17. Addition to retained earnings |
(1,329) |
3,847 |
(1,364) |
3,738 |
18. Retained earnings (Closing Balance) |
22,683 |
24,012 |
22,799 |
24,163 |
19. EPS Basic |
20.57 |
22.26 |
20.41 |
21.77 |
20. EPS Diluted |
20.56 |
22.25 |
20.40 |
21.76 |
BUSINESS REVIEW
Your Company achieved consolidated revenue of 45,584 Lakhs during the
year under review as against 48,136 Lakhs during the previous financial year, a decline
of 5.30% year on year. The operating expenses stood at 39,757 Lakhs during the year as
against 40,922 Lakhs of the previous year, representing a decrease of 2.85%. The
Earnings before Interest, Tax and Depreciation (EBITDA) for the year was at 6,376 as
against 7,345 Lakhs for the previous year, a decrease of 13.19%. The Profit before tax
and share of profit / (loss) from associate for the year was at 5,794 Lakhs as against
6,472 Lakhs of the previous year, representing a decrease of 10.47%. The Company's
consolidated Net Profit (PAT) for the year was at 4,528 Lakhs as against 4,955 Lakhs
of the previous year, a decrease of 8.62%.
Your Company has two business segments, Matchmaking & Marriage
Services and considers them as the primary segment under Ind AS 108 for reporting.
Matchmaking
The Company has added 9.95 Lakhs in paid subscriptions, during the
year. The revenue on a consolidated basis, for the current year was at 44,996 Lakhs as
against 47,237 Lakhs for the previous year, resulting in a decline of 4.74%. The
matchmaking EBITDA for the year decreased by 6.63% to reach 9,216 Lakhs as against 9,869
Lakhs of the previous year.
Marriage Services
The revenue from marriage services for the year was at 588 Lakhs as
against 899 Lakhs of the previous year, resulting in a decrease of 34.59%. The EBITDA
loss for the year was at 1,451 Lakhs as compared to the loss of 1,033 Lakhs of the
previous year.
Detailed analysis of the performance of the Company and its businesses
has been presented in the section on Management Discussion and Analysis Report forming
part of this report.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
The Management Discussion and Analysis Report for the year under review
as stipulated under Regulation 34 (2) (e) of the SEBI (LODR) Regulations 2015 is presented
in a separate section and forms part of this report.
LIQUIDITY
As of March 31, 2025, on a consolidated basis, we had liquid assets
(including cash and cash equivalents and investments) of 32,435 Lakhs as against
35,831 Lakhs at the previous year end. Your Company is also debt-free as of 31st
March 2025. The details of these investments are disclosed under the Financial
Assets' section in the consolidated financial statements in this Annual Report.
FUTURE OUTLOOK
The company being the leader in the matchmaking space believes that
growth prospects are high since the Country has a large unmarried population coupled with
the increasing internet and mobile penetration in India, cultural receptivity to arranged
marriages and increased freedom of choice over life decisions. The Internet base in India
is expanding very rapidly and is expected to grow significantly in the coming years and
this augurs well for the online matchmaking segment. To ride on the growth, your Company
will continue to focus on product and process improvements and invest in the brand. The
Company has been entering into adjacent segments to capture new customers. It has launched
MeraLuv.com an exclusive dating app for Indian Americans , and Luv.com an App in the
matchmaking space to address Next Generation (Next-Gen) serious relationships. The
offering will , focus on the theme of love before marriage, thereby building a
clear differentiation and addressing the market potential.
For more details kindly refer to the Management Discussion and Analysis
report which is presented as a separate section and forming part of this report.
DIVIDEND
Your Company has been consistent in generating operating cash flow over
the years. The dividend policy indicates that the Company endeavors to maintain a minimum
dividend pay-out ratio of 10-15% of standalone profits after tax, excluding exceptional
transactions. The payout ratio may be altered if cash is to be retained under certain
circumstances. During the year, the Company has declared an interim dividend of 5 per
equity share on March 24, 2025 for the Company's 25th Anniversary. The
Board has recommended a final dividend of 5 per equity share, in its meeting held on May
16, 2025 subject to approval by the shareholders at the ensuing annual general Meeting.
The total dividend pay-out for the current year is 2,156 Lakhs signifying a pay-out
ratio of 47.98%
TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION
FUND
The provisions of Section 125(2) of the Companies Act, 2013 do not
apply as there are no dividend which has remained unclaimed and unpaid for a period of
seven years from the date it became due for payment.
SIGNIFICANT EVENTS
There are no significant events during the year.
SHARES
BUYBACK OF SECURITIES
During the year, the Company bought back 7,02,439 equity shares of 5
each at a price of 1,025/- per share for an amount of 7,200 Lakhs .
SWEAT EQUITY
The Company has not issued any Sweat Equity Shares during the year
under review.
BONUS SHARES
The Company has not issued any Bonus Shares during the year under
review.
EMPLOYEES STOCK OPTION SCHEME
The Employee Stock option scheme enables the Company to hire and retain
the best talent for its senior management and key positions. The Nomination and
Remuneration Committee of the Board of Directors of the Company, inter alia, administers
and monitors the employee stock option scheme in accordance with the applicable SEBI
Regulations. The disclosure as required under Rule 12(9) of the Companies (Share Capital
and Debentures) Rules, 2014 is as under
i) Options movement during the year
Sl. No. Particulars |
ESOS 2014 |
1. Number of options outstanding at the
beginning of the year |
97,425 |
2. Number of options granted during the year |
12,000 |
3. Number of options forfeited/lapsed during
the year |
17,375 |
4. Number of options vested during the year |
27,075 |
5. Number of options exercised during the
year |
5,400 |
6. Number of shares arising as a result of
exercise of options |
5,400 |
7. The exercise price of options granted
during the year |
1. 541.25 |
|
2. 623.90 |
8. Variation of terms of options |
NA |
9. Money realized by exercise of options
(INR), if scheme is implemented directly by the company |
19,19,335 |
10. Number of options outstanding at the end
of the year |
86,650 |
ii) Employee-wise details of options granted to
Key Managerial Personnel |
NIL |
Employees who received a grant in the year
amounting to 5% or |
Shri. Vikram Sagar Ravi 4000 options |
more of options granted during the year |
Shri. Venu M Menon 8000 options |
Identified employees who were granted option,
during the year |
Nil |
equal to or exceeding 1% of the Issued
Capital (excluding |
|
outstanding warrants and conversions) of the
company at the |
|
time of grant |
|
The Employee Stock Option Scheme 2014 is in compliance with the
Securities and Exchange Board of India (Share based Employee Benefits and Sweat Equity)
Regulations 2021. The details required under Regulation 14 of the Securities and Exchange
Board of India (Share based Employee Benefits and Sweat Equity) Regulations 2021 are
available on the Company's website at
https://www.matrimony.com/investors/investor-reports?search=financial_fillings&cat=Annual%20report
The Company has received a Certificate from the Secretarial Auditors of
the company that the Scheme has been implemented in accordance with the Securities and
Exchange Board of India (Share based Employee Benefits and Sweat
Equity) Regulations 2021 as amended from time to time and in accordance
with the resolution passed by the members in the General meeting. The Certificate would be
placed at the Annual General Meeting for inspection by members.
BOARD OF DIRECTORS
In the opinion of the Board, the independent Directors appointed by the
Company possess adequate experience, expertise with integrity and standing.
During the year under review, Shri. Milind Shripad Sarwate, Shri.
George Zacharias and Shri Chinnikrishnan Ranganathan retired as Independent Directors
after completion of two terms of 5 years each on January 26, 2025. Shri. Rajesh Sawhney
was appointed as Independent Director on January 8, 2025 and Shri Chinnikrishnan
Ranganathan continues as Non Executive Director from January 27, 2025 which was
subsequently confirmed by the shareholders vide resolution dated February 21, 2025. Shri.
Murugavel Janakiraman Chairman and Managing Director retires at this Annual General
Meeting and being eligible, offers himself for re-election
KEY MANAGERIAL PERSONNEL
During the year under review, Shri Sushanth Shivram Pai, Chief
Financial Officer has resigned and relieved from the services of the Company with effect
from February 17, 2025. The Company has identified a suitable candidate for the above
position who will be joining the Company in due course.
DECLARATION OF INDEPENDENT DIRECTORS
The Independent Directors have submitted their disclosures to the Board
that they have fulfilled all the requirements as stipulated in Section 149(6) of the
Companies Act, 2013 so as to qualify themselves to be appointed as Independent Directors
under the provisions of the Companies Act, 2013 and the relevant rules.
Every Independent Director shall submit a declaration of Compliance
with sub-rule (1) and (2) of the rule 6 of Companies (Appointment and Qualification of
Directors) Rules , 2014 as amended from time to time, along with the declaration that is
required under sub-section (7) of Section 149 of the Companies Act, 2013. The Company has
obtained a declaration to that effect from the Independent Directors.
All the independent Directors are exempted from passing online
proficiency self-assessment tests based on their experience and hence the requirement of
passing online proficiency self-assessment tests is not applicable for the Independent
Directors of the Company.
The detailed terms of appointment of Independent Directors is disclosed
on the Company's website at the following link https://
www.matrimony.com/sites/default/files/newsroom-assets/2022-12/letter-of-appointment-of-independant-director-06-02-18.
pdf
NUMBER OF BOARD MEETINGS CONDUCTED DURING THE YEAR UNDER REVIEW
The Company had 9 Board meetings during the financial year under review
and a separate meeting of the Independent Directors on 24/03/2025.
BOARD EVALUATION
The performance evaluation of the Board, its committees and individual
Directors including independent Directors was conducted based on the criteria laid down by
the Nomination and Remuneration Committee of the Company covering various aspects of the
Board's functioning such as adequacy of the composition of the Board and its
committees, Board culture, execution and performance of specific duties, obligation and
governance.
The Board has carried out the annual performance evaluation pursuant to
the provisions of the Companies Act, 2013 and Regulation 17 of the SEBI (LODR)
Regulations, of its own performance, the individual Directors including independent
Directors and its Committees based on the predetermined templates designed as a tool to
facilitate evaluation process, on parameters such as level of engagement, contribution,
independence of judgement, safeguarding the interest of the Company and its minority
shareholders etc.
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE
The particulars of Loans, guarantees or investments made under section
186 of the Companies Act, 2013 is furnished below
Investment
Name of the Company |
No of shares |
Amount (in ) |
Sys India Private Limited* |
1,00,000 |
1,00,000 |
Consim Info USA Inc., USA |
1,000 |
45,120 |
Matrimony DMCC |
50 |
10,16,474 |
Astro-Vision Futuretech Private Limited |
3,341 |
6,14,43,400 |
Bangladeshi Matrimony Private Limited* |
16,51,739 |
1,44,58,400 |
Boatman Tech Private Limited* |
16,692 |
9,94,95,400 |
* Includes shares held by Shri. Murugavel Janakiraman on behalf of the
Company # There are no loans and guarantee that are outstanding as at March 31, 2025
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
EARNINGS AND OUTGO
The disclosures to be made under Section 134(3)(m) of the Companies
Act, 2013 read with rule 8 (3) of the Companies (Accounts) Rules, 2014 by the Company are
as under
i) Conservation of Energy
Steps taken or Impact on Conservation of Energy including utilising
alternate sources of energy
The Company strives and makes conscious efforts to reduce its energy
consumption though business operations of the Company is not energy intensive. Some of the
measures undertaken are listed below:
1. Usage of LED lights at office spaces that are more energy efficient.
2. Regular monitoring of temperature inside the office premises and
controlling the Air Conditioning system.
3. Rationalisation of usage of electricity
4. Planned preventive maintenance
5. Use of energy efficient assets
6. Discarding e-waste responsibly.
7. Use of energy efficient mode of transport whereever possible.
The Company has not made any capital investment on energy conservation
equipments being less energy intensive.
ii) Technology Absorption
The Company by itself operates into the dynamic information technology
space. It has constantly evolved through the use of technology. From modernisation of the
data centre, to automation powered by Artificial Intelligence (AI), to Machine Learning
(ML), and to the deployment of the Big Data platform and the Analytical database, the
Company has constantly been at the forefront when it comes to Technological advancements
and transformations. The Company has adequate members in Technology development functions
and keep updating the changes in technology.
iii) Foreign Exchange earnings and outgo
The details of the Foreign Exchange earnings and outgo are given below a)
Earnings in Foreign Currency
Sl No Particulars |
2024-25 |
2023-24 |
1 Income from services |
5,223 |
6,042 |
2 Database access fees & Business Licence
Fees |
223 |
222 |
Total |
5,446 |
6,264 |
b) Expenditure in Foreign Currency
Sl No Particulars |
2024-25 |
2023-24 |
1 Advertisement Expenses |
193 |
212 |
2 Technical & Web hosting charges |
96 |
98 |
3 Other Expenses |
114 |
466 |
4 Capital expenditure (Domain acquisition) |
8 |
1,302 |
Total |
411 |
2078 |
PARTICULARS OF EMPLOYEES & REMUNERATION
The ratio of the remuneration of each Director to the median
employee's remuneration and other details in terms of sub-section 12 of Section 197
of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014 are forming part of this report as ANNEXURE
A.
The information required under 5(2) and (3) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 is attached as ANNEXURE
B.
The Managing Director has not received any remuneration or commission
from the subsidiary Companies.
SECRETARIAL AUDIT
The provisions of the secretarial audit under Section 204 are
applicable to the Company. Accordingly, the Secretarial Auditor was appointed to carry out
the audit. The Audit report is attached as ANNEXURE C.
SECRETARIAL STANDARDS
The Company complies with all applicable secretarial standards
MATERIAL CHANGES AND COMMITMENT IF ANY AFFECTING THE FINANCIAL POSITION
OF THE COMPANY OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR TO WHICH THIS FINANCIAL
STATEMENT RELATES AND THE DATE OF THE REPORT
No material changes and commitments affecting the financial position of
the Company occurred between the end of the financial year to which this financial
statement relates on the date of this report.
FIXED DEPOSITS
The Company has not accepted any deposits from the public falling
within the ambit of Section 73 of the Companies Act, 2013 read with Companies (Acceptance
of Deposits) Rules, 2014, and no amount of principal or interest was outstanding as of the
Balance Sheet date.
DETAILS OF SUBSIDIARIES & ASSOCIATE COMPANY
Your Company has five wholly owned subsidiaries, viz. Sys India Private
Limited, Consim Info USA Inc, Bangladeshi Matrimony Private Limited, Matrimony DMCC, Dubai
and Boatman Tech Private Limited. The Company has one Associate Company viz Astro Vision
Futuretech Private Limited.
The details of the financial performance of Subsidiaries/Associate
Company are furnished in ANNEXURE D and attached to this report.
HUMAN RESOURCES MANAGEMENT
Your Company has a pan India presence and employs around 2754
associates to accomplish the purpose of the Company's HAPPY MARRIAGES. We
have unleashed the power of inclusion through our geographical spread to cater to various
Indian communities across the globe. Gender equity is our strength, as more than 50% of
our associates are women, with an average age of our associates being 29 years.
As Human Resources Function, we achieved many significant milestones
with technology and automation at the heart of this FY'25 journey.
Some of the initiatives we implemented as part of people practices
included:
Great Place to WorkR Certification A Proud Milestone
In 2024, Matrimony.com proudly earned the prestigious Great Place to
WorkR Certification in our very first attempt a significant milestone in our journey.
With an overwhelming 93% response rate and an impressive overall score of 73%
this recognition , reflects the trust, pride, and camaraderie our associates feel across
the organization. It's a true testament to our culture of inclusion, collaboration,
and continuous growth, and marks an inspiring chapter in our pursuit of excellence as an
employer of choice. This achievement encourages us to raise the bar even higher in
building a people-first workplace. We remain committed to nurturing a culture where every
employee feels valued, heard, and empowered to thrive.
Impactful Leadership Program
In our continued journey to build strong, future-ready leaders, we
conducted the Impactful Leadership workshop for all mid-level managers across
India. Facilitated by the Senior HR Leadership team, this experiential learning program
was anchored in John Maxwell's renowned 5 Levels of Leadership model Through
real-time scenario-based case studies, group activities, and . reflective sessions,
managers explored what it truly means to move from being a boss to becoming a
leader. Key takeaways included how to empower teams, give effective
feedback, and drive excellence through influence rather than authority. This
initiative marks a pivotal step in strengthening our leadership pipeline and fostering a
culture of high performance and trust.
Sales Capability Building Shifting Mindsets, Elevating Outcomes
To enhance frontline leadership in sales, we organized a 2-day Sales
Capability Building workshop for all Regional Branch Managers across business verticals.
Conducted in partnership with BYLD, the workshop focused on transforming the sales
approach from transactional selling to consultative selling a shift critical to building
long-term customer value. A total of 32 Branch Managers participated in this experiential
learning journey, engaging in dynamic role plays, case studies, and scenario-based
discussions. The program was highly impactful, equipping our sales leaders with practical
tools to influence customer decisions, understand deeper needs, and drive sustainable
business growth.
Driving Culture & Customer Centricity Pan India Campaigns
This year, we launched two high-impact, organization-wide campaigns
aimed at deepening employee engagement and enhancing customer experience. The Proud
Matrimonite campaign was designed to instill a strong sense of organizational pride
among associates, celebrating our shared purpose and values. In parallel, the
Moments of Truth campaign focused on empowering associates to create moments
of magic, reduce moments of misery, and deliver memorable customer experiences at every
touchpoint.
Both campaigns were rolled out pan India through a combination of
experiential learning workshops, creative mailers, and engaging activities that brought
the themes to life across teams and locations.
NATIONAL APPRENTICESHIP PROMOTION SCHEME (NAPS): NURTURING SKILLS,
BUILDING FUTURES
During the year, over 300 individuals were onboarded under the National
Apprenticeship Promotion Scheme (NAPS), reflecting our ongoing commitment to building a
skilled and future-ready workforce. This 12-month apprenticeship program equips trainees
with hands-on, practical experience in key functional areas such as Telesales and Retail
Trade.
To support and encourage trainees throughout their learning journey,
the stipend is structured with increments at the 4th and 7th month of the
program. On successful completion of the apprenticeship period, a lump sum retention bonus
is also awarded as a token of appreciation and motivation.
While NAPS trainees are not covered under statutory social security
schemes such as Provident Fund (PF) or Employee State Insurance (ESI), the company ensures
their well-being by providing Group Mediclaim Insurance and Group Personal Accident
Coverage during the entire training period.
Post-training, trainees are evaluated based on performance and business
requirements, and successful candidates are absorbed into full-time roles marking a smooth
transition from apprenticeship to long-term employment.
MATRIMORPHOSIS: Bridging Campus to Corporate
As part of our commitment to nurturing young talent and supporting
employability in Tier 2 regions, we launched Matrimorphosis, a structured
campus-to-corporate transition program aimed at preparing engineering students for careers
in software development.
In FY'25, we signed Memorandums of Understanding (MoUs) with 8
engineering colleges, primarily located in Tier 2 cities such as Coimbatore, Trichy, and
Tanjore. More than 800 students from the 3rd and 4th year of core IT streams
were evaluated through a multi-stage screening process. From this pool, 250+
high-potential students were selected to undergo intensive technical training.
A full-time trainer was onboarded to lead the program, which comprises
120 hours of structured learning covering fundamentals of programming and progressing to
advanced stacks such as Typescript, Node.js, Angular.js, and React.js. To ensure minimal
disruption to regular academic schedules, the training was conducted outside core class
hours.
The learning journey includes regular assignments, evaluations, and
culminates in a final assessment to gauge individual understanding and application.
Additionally, students are grouped into 40 teams of 3 members each to work on capstone
projects. Final evaluation is based on project presentations and individual viva
assessments, encouraging both collaborative and independent thinking.
Though initiated as an extension of our CSR efforts, Matrimorphosis
also aims to create a talent pipeline. We plan to offer 3-month internships to 20-25
students and extend full-time employment opportunities to over 10 candidates based on
performance.
Encouraged by the success and impact of the pilot, we are gearing up to
scale the initiative to 12+ colleges in FY'26, with training scheduled to commence in
Q2 of the fiscal year.
Giving back to Society
We continue our initiatives that were commenced in FY23 towards park
maintenance at Chennai in association with the Tamil Nadu Government. We renewed our park
maintenance agreement for 3 more years. We are additionally maintaining the Elliot's
Beach pedestrian walkway which was provided by the Greater Chennai Corporation (GCC) apart
from other initiatives.
RELATED PARTY TRANSACTIONS
The Company has a Policy for dealing with Related Parties as per the
requirements of the Companies Act, 2013 and Regulation 23 of the Listing Regulations.
In line with its stated policy, all Related Party transactions are
placed before the Audit Committee for review and approval. The related party transactions
of the Company that are disclosed in the financial statements are transactions that are
entered into with the wholly owned subsidiaries & associate company pursuant to an
agreement with them generally for a minimum period of three years. The Company has not
entered into any related party transactions other than with the Associate Company &
Wholly owned subsidiaries. The list of Related Parties is reviewed and updated
periodically as per the prevailing regulatory conditions.
A statement containing the nature and value of the transactions entered
into by the Company with Related Parties is presented by the Chief Financial Officer for
quarterly review by the Audit Committee. All transactions with Related Parties entered
during the financial year were in the ordinary course of business and on an arm's
length basis. There are no materially significant related party transactions made by the
Company with its Promoters, Directors, Key Managerial Personnel, or their relatives that
may have a potential conflict with the interest of the Company at large. There are no
other contracts or arrangements entered into with Related Parties except with the wholly
owned subsidiaries & Associate Company during the year. However, the details of the
contracts that are subsisting during the year is disclosed under Sections 188(1) and
134(h) of the Companies Act, 2013 in form AOC-2 as ANNEXURE E
CORPORATE GOVERNANCE
Your Company strongly believes that the spirit of Corporate Governance
goes beyond the statutory form. Sound corporate governance is the key driver of
sustainable corporate growth and long-term value creation for the stakeholders and the
protection of their interests. Your Company endeavors to meet the growing aspirations of
all stakeholders including shareholders, employees and customers. Your Company is
committed to maintaining the highest level of transparency, accountability and equity in
its operations. Your Company always strives to follow the path of good governance through
a broad framework of various processes.
The report on Corporate Governance as stipulated under Regulation 34(3)
of SEBI (LODR) Regulations, 2015 is presented in a separate section and forms part of this
report as ANNEXURE F.
Your Company has complied with the conditions of Corporate Governance
as stipulated in the SEBI (LODR) Regulations, 2015 as amended from time to time. The
Auditor's Certificate of Compliance with respect to the same is annexed along with
the Corporate Governance Report.
SOCIAL COMMITMENT
I) The Company's philosophy on corporate
social responsibility (CSR) is to
a) Ensure an increased commitment at all levels in the organisation, to
operate its business in an economically, socially & environmentally sustainable
manner, while recognising the interests of all its stakeholders.
b) To directly or indirectly take up programmes that benefit the
communities in & around its work locations and results, over a period of time, in
enhancing the quality of life & economic well-being of the local populace.
c) To generate, through its CSR initiatives, community goodwill for the
Company and help reinforce a positive & socially responsible image of the Company as a
corporate entity.
II) The CSR committee was constituted for the implementation of CSR
activities and the composition of the Committee as of 31st March 2025 is given
below
Sl. No. Name of the
Director |
Position |
Number of meetings of CSR
Committee held during the year |
Number of meetings of CSR
Committee attended during the year |
1. Shri Murugavel Janakiraman Managing
Director |
Chairman |
2 |
2 |
2. Shri Milind Shripad Sarwate -Independent
Director* |
Member |
1 |
1 |
3. Smt Deepa Murugavel- Non Executive
Director |
Member |
2 |
2 |
4. Smt. Akila Krishnakumar# |
Member |
1 |
1 |
*Member of the Committee upto January 8, 2025
#Member of the Committee from January 8, 2025
III) In accordance with the requirements of the CSR provisions in the
Companies Act, 2013, the Company has put in place a CSR policy incorporating the
requirements therein. The web link where the composition of CSR committee, CSR Policy and
CSR projects approved by the board are disclosed on the website of the company which is
also available on the Company's website at the following link:
https://www.matrimony.com/sites/default/files/newsroom-assets/2022-12/Corporate-Social-Responsibility-Policy.pdf
https://www.matrimony.com/investors/investor-reports?search=financial_fillings&cat=CSR%20projects
https://www.matrimony.com/investors/investor-reports?search=corporate_governance&cat=Committee
IV) The details of impact assessment of CSR projects carried out in
pursuance of sub-rule (3) of rule 8 of the Companies (Corporate Social responsibility
Policy) Rules, 2014, if applicable : Not applicable
V) Details of the amount available for set off in pursuance of sub-rule
(3) of rule 7 of the Companies (Corporate Social responsibility Policy) Rules, 2014 and
amount required for set off for the financial year, if any: Not applicable
VI) a) Average net profit of the Company as per Section 135 (5): 6,028
Lakhs
b) Two percent of the average net profit of the company as per section
135(5): 124.16 Lakhs c) Surplus arising out of the CSR projects or programs or activities
of the previous financial years: Nil d) Amount required to be set off for the financial
year, if any: 24 Lakhs e) Total CSR obligation for the financial year (b- d): 100.16
Lakhs VII) a) Amount spent on CSR Projects (both Ongoing Project and other than Ongoing
Project): 102 Lakhs b) Amount spent on Administrative Overheads: NIL
c) Amount spent on Impact Assessment, if applicable: NIL d) Total
amount spent for the Financial Year (a+b+c)): 102 lakhs
e) CSR amount spent or unspent for the financial year:
Total Amount Spent for the
Financial Year. |
Amount Unspent
(in lakhs) |
(in lakhs) |
Total Amount
transferred to Unspent CSR Account as per section 135(6). |
Amount
transferred to any fund specified under Schedule VII as per second proviso to section
135(5). |
|
Amount. |
Date of transfer. |
Name of the Fund |
Amount. |
Date of transfer. |
102 |
- |
- |
- |
- |
- |
f) Excess amount for set off, if any |
|
|
|
|
|
Sl. Particulars |
Amount |
(i) Two percent of average net profit of the
company as per section 135(5) |
124 |
(ii) Total amount spent for
the Financial Year (including carried forwarded of excess spent of 24 lakhs from FY
2023-24) |
126 |
(iii) Excess amount spent for the financial
year [(ii)-(i)] |
2 |
(iv) Surplus arising out of the CSR projects
or programmes or activities of the previous financial years, if any |
- |
(v) Amount available for set off in
succeeding financial years [(iii)-(iv)] |
2 |
VIII) (a) Details of Unspent CSR amount for the preceding three
financial years: NIL
IX) Whether any capital assets have been created or acquired through
Corporate Social Responsibility amount spent in the
Financial Year: No
X) Specify the reason(s), if the company has failed to spend two per
cent of the average net profit as per section 135(5).
Not applicable
The CSR committee hereby confirms that, the implementation and
monitoring of CSR policy, is in compliance with CSR objectives and policy of the Company.
STATUTORY AUDITORS
M/s B.S.R & Co LLP, Chartered Accountants has been appointed as
Statutory Auditors from the financial year 2022-23 for a period of 5 years at the 21st
Annual General Meeting. They continue to serve as Statutory Auditors of the Company.
SECRETARIAL AUDITOR
Based on the recommendation of the Board in its meeting held on May 16,
2025, V Suresh Associates., Company Secretaries (Firm registration no: P2016TN053700), is
proposed to be appointed as secretarial auditors of the Company to hold office for a term
of five consecutive years commencing from financial year 2025-26 till financial year
2029-30 subject to the approval of shareholders as per the Listing Regulations read with
Section 204 of the Act and Rules thereunder.
AUDIT REPORTS
The Auditors' Report for fiscal 2025 does not contain any
qualification, reservation, or adverse remark. The report is enclosed with the financial
statements in this Annual Report.
The Secretarial Auditors' Report for fiscal 2025 does not contain
any qualification, reservation, or adverse remark. The Secretarial Auditors' Report
is enclosed as Annexure C to the Board's report, which forms part of this Annual
Report.
The Auditor's Certificate confirming compliance with conditions of
corporate governance as stipulated under the Listing Regulations, for fiscal 2025 is
enclosed as Annexure B to the Corporate Governance Report , which forms part of this
Board's report.
The Secretarial Auditor's certificate on the implementation of
share-based schemes in accordance with SEBI (Share Based Employee Benefits and Sweat
Equity) Regulations, 2021, will be made available during the AGM.
RISK MANAGEMENT
The Company has developed and adopted a Risk Management Policy. This
policy identifies all perceived risk which might impact operations and on a more serious
level and also threaten the existence of the Company. Risks are assessed department wise,
such as financial risks, information technology related risks, legal risks etc. The
management also ensures that the Company is taking appropriate measures to achieve prudent
balance between risk and reward in both ongoing and new business activities. The
information on the risk management is explained in detail in the Management Discussion and
Analysis Report which forms part of this report.
DISCLOSURE OF COMPOSITION OF AUDIT COMMITTEE AND PROVIDING VIGIL
MECHANISM
The Audit Committee consists of the following members who are
independent Directors
Shri S. M Sundaram
Shri. Rajesh Sawhney Smt. Akila Krishnakumar
The provisions of Rule 7 of Companies (Meetings of the Board and its
Powers) Rules, 2013 regarding Establishment of Vigil Mechanism are applicable to the
Company. Accordingly, the Company has formulated a policy on vigil mechanism and whistle
blower.
PREVENTION OF SEXUAL HARASSMENT POLICY
The Company has zero tolerance for sexual harassment at workplace and
has adopted a policy on prevention, prohibition and redressal of sexual harassment at
workplace in line with the provisions of the Sexual Harassment of Women at Workplace
(Prevention, Prohibition and Redressal) Act, 2013 and the rules thereunder for prevention
and redressal of complaints of sexual harassment at workplace. The company has complied
with provisions relating to the constitution of Internal Complaints Committee under the
Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.
During the financial year 2024-25, there were 7 complaints on sexual
harassment and appropriate action was taken after the investigation Necessary steps were
taken to create awareness on the prevention of Sexual harassment policy.
ANNUAL RETURN
The extracts of Annual Return pursuant to the provisions of Section 92
read with Rule 12 of the Companies (Management and administration) Rules, 2014 is
available in the website of the Company under the link
https://www.matrimony.com/investors/
investor-reports?search=financial_fillings&cat=Extract%20of%20annual%20return
DETAILS OF SIGNIFICANT AND MATERIAL ORDERS
No significant and material orders were passed by the regulators,
courts or tribunals impacting the going concern status and future operation of the
Company.
DISCLOSURE UNDER SUB RULE 5(XI) & (XII) OF RULE 8 OF COMPANIES
(ACCOUNTS) RULES, 2014
The Company has neither made any application nor any proceeding is
pending under the Insolvency and Bankruptcy code, 2016 (31 of 2016) during the year.
Further, the Company has neither taken any loan from the Banks or Financial institutions
nor entered into any one time settlement with them.
INTERNAL CONTROL SYSTEMS
Internal control systems in the organization are looked at as key to
its effective functioning. The Internal Audit team periodically evaluates the adequacy and
effectiveness of these internal controls, recommends improvements and also reviews
adherence to policies based on which corrective action is taken to address gaps, if any.
Revenue and capital expenditures are governed by approved budgets and the levels are
defined by a delegation of authority mechanism. Review of capital expenditure is
undertaken with reference to benefits expected in line with the policy for the same.
Investment decisions are subject to formal detailed evaluation and approved by the
relevant authority as defined in the delegation of authority mechanism. The Audit
Committee reviews the plan for internal audit, significant internal audit observations and
functioning of the Company's Internal Audit department on a periodic basis.
Internal Financial Control Systems with reference to the Financial
Statements
The Company has a formal system of internal financial control to ensure
the reliability of financial and operational information and regulatory & statutory
compliances. The Company's business processes are enabled by an Enterprise-wide
Resource Platform (ERP) for monitoring and reporting processes resulting in financial
discipline and accountability. An independent audit has been carried out for testing
Internal Financial Control system during the financial year for ascertaining the control
effectiveness.
Disclosure on maintenance of Cost Record
The Company is not required to maintain the cost records under
sub-section (1) of section 148 of the Companies act 2013.
DIRECTORS RESPONSIBILITY STATEMENT
In accordance with the provisions of Section 134(5) of the Companies
Act, 2013 the Board hereby submits its responsibility
Statement-
(a) in the preparation of the annual accounts, the applicable
accounting standards had been followed along with proper explanation relating to material
departures; (b) they have selected such accounting policies and applied them consistently
and made judgments and estimates that are reasonable and prudent so as to give a true and
fair view of the state of affairs of the company at the end of the financial year and of
the profit of the company for that period; (c) they have taken proper and sufficient care
for the maintenance of adequate accounting records in accordance with the provisions of
this Act for safeguarding the assets of the company and for preventing and detecting fraud
and other irregularities; (d) they have prepared the annual accounts on a going-concern
basis; (e) They have laid down internal financial controls to be followed by the Company
and that such internal financial controls are adequate and were operating effectively (f)
they have devised proper systems to ensure compliance with the provisions of all
applicable laws and that such systems were adequate and operating effectively.
ACKNOWLEDGMENTS
Your Directors place on record their sincere thanks to bankers,
business associates, consultants, and various Government Authorities for their continued
support extended to your Company's activities during the year under review. Your
Directors also acknowledges gratefully the shareholders for their support and confidence
reposed on your Company.
Annexure A
DISCLOSURE IN DIRECTORS' REPORT PURSUANT TO SECTION 197(12) OF THE
COMPANIES ACT, 2013 READ WITH COMPANIES (APPOINTMENT AND REMUNERATION OF MANAGERIAL
PERSONNEL), RULES, 2014
1. The ratio of the of each director to the median remuneration
of the employees of the Company and the percentage increase in remuneration of each
Director, Chief Executive Off Chief Financial Officer and Company Secretary in the
financial year:
Name |
Ratio to Median % increase
in remuneration |
Remuneration in the
financial year |
Non Executive Directors: |
|
|
Shri Milind S Sarwate (Retired on January 26,
2025) |
7.50:1 |
- |
Shri George Zacharias (Retired on January 26,
2025) |
6.44:1 |
- |
Shri C K Ranganathan |
4.26:1 |
23.08 |
Smt Deepa Murugavel |
5.24:1 |
15.69 |
Smt Akila Krishnakumar |
9.14:1 |
35.53 |
Shri Rajesh Sawhney (Appointed on January 8,
2025) |
2.45:1 |
- |
Shri S M Sundaram |
9.76:1 |
33.64 |
Executive Directors |
93.83:1 |
1.00 |
Shri Murugavel Janakiraman* |
|
|
Chief Financial Officer |
|
|
Shri Sushanth S Pai* (Resigned on February
17, 2025) |
- |
- |
Company Secretary |
|
|
Shri Vijayanand Sankar |
- |
9.00 |
The median remuneration of employees of the Company was 2,81,623
* The increase for Executive Directors, Chief Financial Officer and
Company Secretary is calculated on the difference in the cost to the company for both the
years. Non Executive Directors are paid Sitting fees and commission.
3. The percentage increase in the median remuneration of employees in
the financial year: 10%
4. The number of permanent employees on the rolls of Company: 2754
5. Average percentile increase already made in the salaries of
employees other than the managerial Personnel in the last financial year and its
comparison with the percentage increase in the managerial remuneration and justification
thereof and point out if there are any exceptional circumstances for increase in the
managerial remuneration.
Average increase in remuneration is 4% for employees other than
managerial personnel, after accounting for promotions and other event-based compensation
revisions and 1% for Managerial Personnel.
6. Affirmation that the remuneration is as per the remuneration policy
of the Company
Annexure B
Sl. No Name |
Designation |
Qualifications
Remuneration (in Lakhs) |
Nature of employment |
Date of and commencement
experience of employment |
Age of such employee |
Last employment held
before joining the Company |
Percentage of equity
shares held in the Company |
Whether relative of any
Director or Manager of the Company |
|
|
Earnings |
Perquisite |
Total |
|
|
|
|
|
|
1 Murugavel Janakiraman |
Chairman & Managing
Director |
263.84 |
0.40 |
264.24 |
Permanent |
Holds Bachelor's Degree
September 5, of Science in Statistics and 2001 Master's Degree in Computer
applications from the University of Madras |
54 yrs |
Senior Programmer in Real
Soft Inc, USA |
53.24 |
Yes. Spouse of Director Smt.
Deepa Murugavel |
2. Saichitra S# |
Chief Product Officer |
110.83 |
- |
110.83 |
Permanent |
Holds Bachelor's degree
Since in Computer Science and Incorporation Master's degree in computer application
from Bhartidasan university. She has over 22 years of experience in the field of product
development and technology |
47 yrs |
Nil |
0.02 |
No |
3. Arjun Bhatia# |
Sr. Vice President -
Marketing |
106.15 |
- |
106.15 |
Permanent |
Holds Bachelor's degree
January 11, 2021 in Engineering from Delhi College of Engineering and MBA from Faculty of
management studies, Delhi University. Has over 22 years of experience in Marketing |
45 Yrs |
Head Marketing & E
Commerce of Samsung India Consumer Electronics |
- |
No |
5. Sushanth S Pai* |
Chief Financial Officer |
95.31 |
3.36 |
98.67 |
Permanent |
Holds Bachelor's Degree
in December 10, commerce from University 2018 of Mumbai & Chartered Accountancy from
ICAI. Has over 28 years of experience in Finance, Audit, Risk Management and Investor
relations |
49 yrs |
Mindtree Limited ·
Associate Vice President |
0.06 |
No |
4. Chandrasekar R |
Chief Technology Operation
and Infrastructure officer |
95.60 |
- |
95.60 |
Permanent |
Holds Bachelor's Degree
in December 8, Science and Masters degree 2006 in Computer application from Bharathidasan
University. Has over 30 years of experience in the field |
56 yrs |
Sify Technologies Limited |
0.03 |
No |
6. Kiran Vijayakumar |
Vice President ·
Technology |
82.68 |
- |
82.68 |
Permanent |
Holds Bachelor's degree
July 14, 2015 of Technology (Computer Science & Engineering) from college of
engineering, Thiruvanathapuram. Has over 22 years of experience. |
49 yrs |
UST Global · Director,
Cloud Practice |
0.02 |
No |
7. Mayank Anand Jha |
Vice President Operations (
New Initiatives) |
80.81 |
- |
80.81 |
Permanent |
Holds Bachelors Degree in
Engineering (Hons) from Birla Institute of Technology and Science from Pilani and a
Masters degree in Business Administration (Finance & Marketing) from Xavier Labour
Research Institute, Jamshedpur and has over 12 years of experience across fashion retail
and FMCG distribution businesses in India/abroad |
December 4, 2023 |
35 yrs |
Business Head ·
Ecommerce, Westside, Trent |
- |
No |
8. Venu Muraleedharan Menon |
Chief Human Resource |
76.19 |
- |
76.19 |
Permanent |
Holds a Masters in English
from St. Stephens College, Officer Delhi University and Post Graduation in HR from Madras
School of Social Work, Chennai. Has over 29 years of experience as HR leader across
Healthcare, Retail, Manufacturing and Telecom sectors |
June 10, 2024 |
55 yrs |
Vice President and Head of HR
Operations at Fortis Healthcare Limited |
- |
No |
9. Ajay Kumar |
Senior Vice President
(Retail) |
61.83 |
- |
61.83 |
Permanent |
Holds Bachelor's degree
in Economics from Madras University. Has over 27 years of experience in handling
collections, customer service and sales roles. |
November 6, 2019 |
47 yrs |
SBI Cards |
- |
No |
10. Vinodha Priyan |
Senior Vice President (Tele
Marketing) |
61.77 |
- |
61.77 |
Permanent |
Holds Bachelor's degree
in Corporate Secretary ship and Masters in marketing management from Madras University.
Has over 22 years of experience in BPM, Client Servicing & International Operations
for various industries |
September 30, 2019 |
48 yrs |
Hinduja Global Solutions Ltd |
0.002 |
No |
# Employed throughout the financial year, was in receipt of
remuneration for that year which, in the aggregate, was not less than one crore and two
lakh rupees ;
*Employed for a part of the financial year, was in receipt of
remuneration for any part of that year, at a rate which, in the aggregate, was not less
than eight lakh and fifty thousand rupees per month;
Annexure C
Form No. MR-3 SECRETARIAL AUDIT REPORT
For the Financial Year 2024-25
[Pursuant to section 204(1) of the Companies Act, 2013 and Rule No.9 of
the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014]
To,
The Members,
M/s. MATRIMONY.COM LIMITED
We have conducted the Secretarial Audit of the compliance of applicable
statutory provisions and the adherence to good corporate practices by M/s.MATRIMONY.COM
LIMITED (hereinafter called the Company). Secretarial Audit was conducted in a manner
that provided to us a reasonable basis for evaluating the corporate conducts/statutory
compliances and expressing our opinion thereon.
Based on our verification of M/s.MATRIMONY.COM LIMITED books,
papers, minute books, forms and returns filed and other records maintained by the Company
and also the information provided by the Company, its officers, agents and authorized
representatives during the conduct of secretarial audit, the explanations and
clarifications given to us, We hereby report that in our opinion, the Company has, during
the audit period covering the financial year ended 31st March 2025, complied with the
statutory provisions listed hereunder and also that the Company has proper Board-processes
and compliance-mechanism in place to the extent, in the manner and subject to the
reporting made hereinafter:
We have examined the books, papers, minute books, forms and returns
filed and other records maintained by M/s. MATRIMONY. COM LIMITED (the
Company) for the financial year ended on 31stMarch 2025 according to the provisions
of: (i) The Companies Act, 2013 (the Act) and the rules made thereunder; (ii) The
Securities Contracts (Regulation) Act, 1956 (SCRA') and the rules made
thereunder; (iii) The Depositories Act, 1996 and the Regulations and Bye-laws framed
thereunder; (iv) Foreign Exchange Management Act, 1999 and the rules and regulations made
thereunder to the extent of Foreign Direct Investment, Overseas Direct Investment and
External Commercial Borrowings (v) The following Regulations and Guidelines prescribed
under the Securities and Exchange Board of India Act, 1992 (SEBI Act'):-
(a) The Securities and Exchange Board of India (Substantial Acquisition
of Shares and Takeovers) Regulations, 2011 and amendments from time to time;
(b) The Securities and Exchange Board of India (Prohibition of Insider
Trading) Regulations, 2015 and amendments from time to time;
(c) The Securities and Exchange Board of India (Issue of Capital and
Disclosure Requirements) Regulations, 2018 and amendments from time to time; (Not
applicable to the Company during the audit period)
(d) The Securities and Exchange Board of India (Share Based Employee
Benefits and Sweat Equity) Regulations, 2021;
(e) The Securities and Exchange Board of India (Issue and Listing of
Non-Convertible Securities) Regulations, 2021; (Not applicable to the Company during the
audit period).
(f) The Securities and Exchange Board of India (Registrars to an Issue
and Share Transfer Agents) Regulations, 1993 regarding the Companies Act and dealing with
client; (Not applicable to the Company during the audit period).
(g) The Securities and Exchange Board of India (Delisting of Equity
Shares) Regulations, 2021; (Not applicable to the Company during the audit period).
(h) The Securities and Exchange Board of India (Buyback of Securities)
Regulations, 2018 and amendments from time to time;
Other Laws specifically applicable to this Company is as follows:
(i) Trade Marks Act, 1999 (ii) Shops and Establishment Act, 1947 (iii)
The Information Technology Act, 2000
We have also examined compliance with the applicable clauses of the
following: (i) Secretarial Standards issued by The Institute of Company Secretaries of
India.
(ii) Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015 and amendments from to time.
We further report that the Board of Directors of the Company is duly
constituted with proper balance of Executive Directors, Non-Executive Directors,
Independent Directors and Women Director. There is change in the of the Board of Directors
during the period under review.
Adequate notice is given to all directors to schedule the Board
Meetings, agenda and detailed notes on agenda were sent to at least seven days in advance
and a system exists for seeking and obtaining further information and clarifications on
the agenda items before the meeting and for meaningful participation at the meeting.
Majority decision is carried through while the dissenting member's
views, if any are captured and recorded as part of the minutes.
We further report that there are adequate systems and processes in the
company commensurate with the size and operations of the company to monitor and ensure
compliance with applicable laws, rules, regulations and guidelines.
We further report that, during the audit period,
The Company has issued and allotted the following equity shares
pursuant to exercise of options granted under Employee Stock Option scheme 2014
Sl No No of equity shares of 5
each/- |
Date of allotment |
1 2,900 |
05.09.2024 |
2 2,500 |
16.12.2024 |
The Company has completed the Buyback of 7,02,439 equity shares on
November 12, 2024.
This report is to be read with our letter of even date vide Annexure-1
that forms part of this report.
Annexure to Secretarial Audit Report
To, The Members
MATRIMONY.COM LIMITED
Our report of even date is to be read along with this letter.
1. Maintenance of secretarial records is the responsibility of the
management of the Company. Our responsibility is to express an opinion on these
secretarial records based on our audit.
2. We have followed the audit practices and processes as were
appropriate to obtain reasonable assurance about the correctness of the contents of the
Secretarial records. The verification was done on test basis to ensure that correct facts
are reflected in secretarial records. We believe that the processes and practices we
followed provide a reasonable basis for our opinion.
3. We have not verified the correctness and appropriateness of
financial records and Books of Accounts of the Company.
4. Where ever required, we have obtained the Management representation
about the compliance of laws, rules and regulations and happening of events etc.
5. The compliance of the provisions of Corporate and other applicable
laws, rules, regulations, standards is the responsibility of management. Our examination
was limited to the verification of procedures on test basis.
6. Due to inherent limitations of an audit including internal,
financial, and operating controls, there is unavoidable risk that some misstatements or
material non-compliances may not be detected, even though the audit is properly planned
and performed in accordance with the Standards.
7. The Secretarial Audit report is neither an assurance as to the
future viability of the Company nor of the efficacy or effectiveness with which the
management has conducted the affairs of the Company.
Annexure D
Form AOC-I
(Pursuant to first proviso to sub-section (3) of section 129 read with
rule 5 of Companies (Accounts) Rules, 2014) Statement containing salient features of the
financial statement of subsidiaries & associate company
S. No Name of the Company |
Reporting Currency |
Exchange Rate |
Share Capital |
Reserves & Surplus |
Total Assets |
Total Liabilities |
Investments |
Turnover |
Profit/ (Loss) before
Taxation |
Provision for Taxation |
Profit / (Loss) after
Taxation |
Proposed Dividend |
% of Share |
Country |
1. Sys India Private Limited |
INR |
- |
1.00 |
18.71 |
72.56 |
52.85 |
- |
20.10 |
1.25 |
0.32 |
0.93 |
- |
100% |
India |
2. Consim Info USA Inc |
USD |
- |
0.01 |
2.83 |
2.97 |
0.13 |
- |
0.36 |
0.02 |
0.01 |
0.01 |
- |
100% |
USA |
3. Matrimony DMCC |
AED |
- |
0.50 |
3.99 |
14.31 |
9.83 |
- |
41.21 |
20.96 |
1.55 |
19.41 |
- |
100% |
UAE |
4. Bangladeshi Matrimony
Private Limited |
BDT |
- |
165.17 |
37.07 |
250.21 |
47.97 |
- |
222.96 |
94.74 |
11.11 |
83.63 |
- |
100% |
Bangladesh |
5. Boatman Tech Private
Limited |
INR |
- |
1.67 |
(174.01) |
93.46 |
265.80 |
- |
88.56 |
78.40 |
- |
78.40 |
- |
100% |
India |
6. Astro Vision Futuretech
Private Limited |
INR |
- |
1.28 |
(91.53) |
550.28 |
640.53 |
6.88 |
2002.33 |
(64.04) |
(19.71) |
(44.33) |
- |
26.09% |
India |
Annexure E
FORM NO. AOC -2
(Pursuant to clause (h) of sub-section (3) of section 134 of the Act
and Rule 8(2) of the Companies (Accounts) Rules, 2014.
Form for Disclosure of particulars of contracts/arrangements entered
into by the company with related parties referred to in sub-section (1) of section 188 of
the Companies Act, 2013 including certain arms-length transactions under the third proviso
thereto.
1. Details of contracts or arrangements or transactions not at
Arm's length basis.
Matrimony.com Limited has not entered into any contract or arrangement
or transaction with its related parties which is not at arm's length during the
financial year 2024-25.
2. Details of contracts or arrangements or transactions on an
Arm's length basis.
SL. No. Particulars |
Details |
1. Name (s) of the related party & nature
of relationship |
Sys India Private Limited & Wholly Owned
Subsidiary Company |
2. Nature of
contracts/arrangements/transaction |
1. Availing of advertising
agency services for advertising in print media and vernacular websites of online media. |
|
2. Hiring of employees for its operation |
3. Duration of the
contracts/arrangements/transaction |
3 years, 01-June-2022 to 31-Mar-2025 |
4. Salient terms of the
contracts or arrangements or transaction including the value, if any |
Maximum of 18.5 Crores per
annum |
5. Date of approval by the Board |
12-05-2022 & 24-03-2025 |
6. Amount paid as advances, if any |
NIL |
SL. No. Particulars |
Details |
1. Name (s) of the related party & nature
of the relationship |
Consim Info USA Inc & Wholly Owned
Subsidiary Company |
2. Nature of
contracts/arrangements/transaction |
1. Agency services in USA for match making
business |
|
2. Providing of services
including customer support, online marketing, accounting, finance, record keeping, tax,
audit support, legal, information systems and other corporate services. |
3. Duration of the
contracts/arrangements/transaction |
3 years, 01-April-2024 to 31-March-2027 |
4. Salient terms of the
contracts or arrangements or transaction including the value, if any |
Maximum of 65 Crores per
annum |
5. Date of approval by the Board |
19-03-2024 |
6. Amount paid as advances, if any |
NIL |
SL. No. Particulars |
Details |
1. Name (s) of the related
party & nature of relationship |
Matrimony DMCC, Dubai &
Wholly Owned Subsidiary Company |
2. Nature of
contracts/arrangements/transaction |
1. Granting of License to
operate the Company's Match making business in GCC countries. |
|
2. Providing of services
including customer support, online marketing, accounting, finance, record keeping, tax,
audit support, legal, information systems and other corporate services. |
3. Duration of the
contracts/arrangements/transaction |
Effective from 01-Apr-2022 to 31-Mar-2025 |
4. Salient terms of the
contracts or arrangements or transaction including the value, if any |
Maximum of 6 Crores |
5. Date of approval by the Board |
31-03-2022 |
6. Amount paid as advances, if any |
NIL |
SL. No. Particulars |
Details |
1. Name (s) of the related party & nature
of relationship |
Astro-Vision Futuretech Private Limited
& Associate Company |
2. Nature of
contracts/arrangements/transaction |
Astrology services |
3. Duration of the
contracts/arrangements/transaction |
Effective from 01-Jan-2022 to 31-Mar-2025. |
4. Salient terms of the
contracts or arrangements or transaction including the value, if any |
Maximum of upto 25 Lakhs
till 31stDecember 2023 and 38 Lakhs from 1st January 2024 to 31st March 2025 |
5. Date of approval by the Board |
11-11-2021 & 19-03-2024 |
6. Amount paid as advances, if any |
NIL |
SL. No. Particulars |
Details |
1. Name (s) of the related party & nature
of relationship |
Boatman Tech Private Limited & Wholly
Owned Subsidiary |
2. Nature of
contracts/arrangements/transaction |
Parent Company uses the
Boatman's brand, technology platform and customer & vendor base. |
3. Duration of the
contracts/arrangements/transaction |
Effective from FY 25 |
4. Salient terms of the
contracts or arrangements or transaction including the value, if any |
License fees @ 7.38 Lakhs
per month for FY 24-25 |
5. Date of approval by the Board |
19-03-2024 |
6. Amount paid as advances, if any |
NIL |