Matrimony Sets Rs 5 Special Dividend With March 28 Record Date: Is A Rally Coming To Find Its Target Match?

The top consumer services provider in India, Matrimony.com, is in charge of well-known brands including Jodii, EliteMatrimony, CommunityMatrimony, and BharatMatrimony. CommunityMatrimony.com, a network of more than 200 community matrimonial businesses, WeddingBazaar.com, and Mandap.com are just a few of the various business models that matrimonial.com has pioneered. Recent additions to Matrimony.com include WeddingLoan.com, a fintech platform that offers financial advice for marriages; Luv.com, a working professional matching app; and ManyJobs, a multilingual app specifically designed for entry-level and frontline positions for Tamil Nadu's gray-collar workers.

Matrimony Dividend

"Pursuant to Regulation 30 (4) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR), the Board of Directors of the Company at their meeting held on 24th March 2025, which commenced.at 7.20 p.m. and concluded at 8.50 p.m., inter-alia, unanimously approved the following, 1. Declaration of the special dividend (Interim) of Rs.5/- per share (Rs. 100%) of Rs.5/- each to commemorate the Company's Silver Jubilee year. 2. The Company has fixed "Friday, 28th March 2025" as the record date for the purpose of determining the eligible shareholders towards payment of dividend which will be paid within 30 days from the date of declaration," said Matrimony in a stock exchange filing.

Matrimony Dividend Date

"We would like to inform you that the Company has fixed "Friday", 28th March 2025" as record date for the purpose of determining the eligible shareholders towards payment of Special dividend (Interim) to commemorate the Company's Silver Jubilee year," Matrimony informed stock exchanges.

Matrimony Financials

The company's consolidated net sales for the quarter ending in December 2024 were Rs 111.43 crore, dropping 4.97% from Rs 117.26 crore for the quarter ending in December 2023, according to Moneycontrol. Its net profit plummeted 10.25% from Rs. 11.11 crore in the December 2023 quarter to Rs. 9.97 crore in the December 2024 quarter. EBITDA went down 9.6% from Rs. 22.91 crore in Q3FY24 to Rs. 20.71 crore in Q3FY25.

Matrimony Share Price Target

"The matrimony stock is currently trading within a range of 555-505, indicating a consolidation phase. A breakout above 555 could signal bullish momentum, potentially leading to an upward move. Conversely, if the stock falls below 505, it may face further downside pressure. Traders should watch for a decisive move beyond this range for clearer trend confirmation," commented Riyank Arora - Technical Analyst - Mehta Equities Limited.

Whereas, according to Mandar Bhojane - Equity Research Analyst at Choice Broking, "MATRIMONY is currently trading at 534.5 and showing signs of recovery following a prolonged downtrend. The stock has been forming a base at lower levels and has recently entered a phase of sideways consolidation, indicating a potential trend reversal or a relief rally. It has successfully moved above short-term moving averages, signaling strengthening momentum. However, the 50-day EMA remains a key resistance level that the stock has yet to surpass. Additionally, strong support at lower levels has reinforced the current upward movement, suggesting a possible continuation of the recovery if resistance levels are breached."

"On the upside, resistance is observed in the 600 - 630 range. A breakout above this level could propel the stock toward a short-term target of 630. Conversely, immediate support is positioned at 500, with a suggested stop-loss at 480 to mitigate downside risk. The Relative Strength Index RSI is currently at 50.03, suggesting neutral momentum, neither in the overbought nor oversold zone. The RSI previously dipped below 43 but is now showing signs of recovery, which could indicate a shift in sentiment," the analyst added.

"In conclusion, MATRIMONY presents a promising buying opportunity, with an upside potential toward 630 based on technical analysis and prevailing market conditions. However, traders should implement proper risk management strategies to protect against potential market reversals," Mandar Bhojane further recommended.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.