1. Q2 FY27 PAT similar level of Q1 or slightly better Pending - At the Q1 FY27 call, VP Finance guided Q2 FY27 PAT "may be similar level of Q1 or slightly better than current quarter". The Q2 FY27 horizon is not yet reached as of 2nd September 2026.
2. Q1 FY27 double-digit revenue growth Delivered - At the Q4 FY26 call, management anticipated "double-digit revenue growth" for Q1 FY27. Q1 FY27 revenue grew 13.2% YoY - double-digit achieved.
3. Q1 FY27 billing growth - double-digit or high single-digit Delivered - At the Q4 FY26 call, management anticipated "either double-digit billing growth or high single-digit growth in billing" for Q1 FY27. Q1 FY27 billing grew 8.0% YoY - high single-digit achieved.
4. Q3 FY26 PAT in line with Q2 levels Delivered - At the Q2 FY26 call, management expected Q3 FY26 PAT to be in line with Q2 levels. Q3 FY26 PAT came in at ₹8.3 crore vs Q2 FY26's ₹7.8 crore - slightly better but broadly in line.
5. Q1 FY26 PAT better than Q4 FY25 but less than Q1 FY25 Delivered - At the Q4 FY25 call, management expected Q1 FY26 PAT to be better than Q4 FY25, but less than Q1 FY25. Q1 FY26 PAT was ₹8.4 crore - above Q4 FY25's ₹8.2 crore and below Q1 FY25's ₹13.97 crore.
6. Q1 FY26 billing growth YoY Delivered - At the Q4 FY25 call, management expected Q1 FY26 billing growth year-on-year in the Matchmaking business. Q1 FY26 matchmaking billing was ₹125.3 crore, up 7.8% YoY - growth achieved.
7. Long-term PAT margin 20%+ and EBITDA margin 25%+ - 2-3 years On track - At the Q3 FY25 call, management said long-term (2-3 years) PAT margin can go to 20% or higher and EBITDA margin can "easily comfortably go beyond 25%". FY26 PAT margin was 7.4% and EBITDA margin 11.4%, but Q1 FY27 improved to 14.6% PAT and 20.1% EBITDA; the FY28-FY29 horizon is not yet reached.
8. Marketing spend reduction to ₹35-30 crore per quarter - conditional Missed - At the Q3 FY25 call, management said marketing spend could come down to \~₹35 crore or even \~₹30 crore per quarter if competition goes down. Spend ran ₹43-47 crore each quarter from Q3 FY25 (₹46.2 crore) through Q1 FY27 (₹46.5 crore) - the ₹35 crore or ₹30 crore levels were never reached.
9. Third buyback - ₹58.5 crore FY26 Delivered - At the Q3 FY26 call, a share buyback was initiated in January 2026 amounting to ₹58.5 crore. By Q4 FY26 the buyback was completed amounting to ₹58.5 crore.
10. Second buyback - FY25 Delivered - At the Q2 FY25 call, management noted the current buyback is the company's second. The ₹72 crore second buyback was successfully completed by Q3 FY25 and confirmed complete in Q4 FY25.
11. Buyback of ₹75 crore - FY23 Delivered - At the Q4 FY22 call, the Board recommended a buyback of equity shares not exceeding ₹75 crore at a maximum price of ₹1,150. By Q2 FY23 the buyback was completed with 759% subscription, all tendered shares accepted proportionately.
12. Bangladesh operations launch - Q2 FY22 Delivered - At the Q1 FY22 call, management expected Bangladesh operations to commence "before the end of this quarter" (Q2 FY22), later refined to full-fledged operations "sometime next month". Bangladesh Matrimony launched in Q2 FY22, number one player by traffic metrics, with TV promotion added in Q3 FY22.
13. ShaadiSaga acquisition closing - July/August 2021 Delivered - At the Q1 FY22 call, management expected to close the ShaadiSaga (Boatman Tech) acquisition "this month" (July/August 2021). The acquisition completed on September 15, 2021, roughly a month after the stated timeline, with integration done in April 2022.
14. IPO proceeds utilization - fully utilised for stated objects Delivered - IPO net proceeds of ₹121.57 crore were to be utilised for stated objects: advertising ₹20 crore, land purchase ₹42.58 crore, overdraft repayment ₹43.34 crore, general corporate purposes ₹15.64 crore. Proceeds were fully utilised for the stated objects with no deviation.
15. Dividend policy - minimum 10-15% payout ratio Delivered - The company endeavors to maintain a minimum dividend pay-out ratio of 10-15% of standalone profits after tax, excluding exceptional transactions. FY22 payout was 21.36% and FY24 22.97%; final dividends were recommended in FY25 (₹5 per share) and FY26 - payouts consistently above the minimum.
16. ManyJobs pan-India expansion - end of FY27 Pending - At the Q4 FY26 call, the CEO said "the end of the year, once we reach our revenue milestone, then we may expand to South or even pan India". In Q1 FY27, expansion was deferred until the business achieves a certain run rate or comes close to break-even; the end-of-FY27 horizon is not yet reached.
17. FY27 double-digit billing growth On track - At the Q4 FY26 call, the CEO expected "double digit billing growth also possibly this year as well... for the FY'27", echoing Q3 FY26's expectation of similar growth in the coming year. Q1 FY27 billing grew 8.0% YoY, below double-digit, with double-digit guided for Q2 FY27; the FY27 horizon is not yet reached.
18. Q4 FY26 double-digit operational profit growth Delivered - At the Q3 FY26 call, management expected double-digit growth in operational profit in Q4 FY26 on both QoQ and YoY basis. Q4 FY26 PAT was ₹9.7 crore, up 18.9% YoY and 17.2% QoQ, with EBITDA margin of 12.4% vs 11.3% in Q3 - double-digit growth achieved.
19. Q4 FY26 double-digit billing growth and Q1 FY27 double-digit revenue growth Delivered - At the Q3 FY26 call, management expected double-digit or high single-digit growth in matrimony billings in Q4 FY26 YoY. Q4 FY26 matchmaking billing grew 10.5% YoY and consolidated billing 9.9% YoY, and Q1 FY27 revenue grew 13.2% YoY - the targets were achieved.
20. ₹500 crore matchmaking billing - FY26 Missed - At the Q2 FY26 call, management said the ₹500 crore matchmaking billing target for FY26 is "pretty much on track". FY26 matchmaking billing came in at ₹485.2 crore, with consolidated billing at ₹488.6 crore - below the ₹500 crore target.
21. New-initiative losses FY26 - ₹10 crore or less Missed - At the Q4 FY25 call, management indicated FY26 new-initiative losses may be "maybe Rs. 10 crore or less", against FY25's loss of ₹14.5 crore. FY26 Marriage Service and other business EBITDA loss was ₹15 crore - above both the ₹10 crore target and the prior year.
22. Wedding loans product launch - November 2024 Delivered - At the Q2 FY25 call, management committed to launching a wedding loans product "during this month" (November 2024) in collaboration with a leading institution. The platform launched in Q3 FY25; it was later paused in Q4 FY25 as conversions fell short and remained paused through Q3 FY26.
23. ManyJobs monetization - 0.5 crore resumes and 10,000+ employers Partial - At the Q3 FY25 call, management said vernacular jobs monetization would begin once the platform reaches 0.5 crore resumes and probably 10,000+ employers, with start dates subsequently moved to "very soon". Monetization started in Tamil Nadu with 10,000+ recruiters by Q3 FY26, but registrations reached only 0.1 crore users by Q4 FY26 and 0.15 crore job seekers by Q1 FY27, with expansion beyond Tamil Nadu deferred.
24. Q2 FY27 triple-digit PAT growth Pending - At the Q1 FY27 call, management guided Q2 FY27 profit to have triple-digit YoY growth. The Q2 FY27 horizon is not yet reached as of 2nd September 2026; Q1 FY27 PAT grew 127.5% YoY.
25. Q2 FY27 double-digit billing and revenue growth Pending - At the Q1 FY27 call, management guided Q2 FY27 matchmaking billing and revenue to have double-digit growth YoY. The Q2 FY27 horizon is not yet reached as of 2nd September 2026; Q1 FY27 billing grew 8.0% YoY and revenue 13.6% YoY.
26. Q1 FY27 PAT more than double YoY Delivered - At the Q4 FY26 call, management guided Q1 FY27 PAT to more than double compared to Q1 FY26. Q1 FY27 PAT was ₹19.1 crore, up 127.5% YoY from ₹8.4 crore, with management scorekeeping "we have delivered on that guidance".
27. Non-matchmaking revenue share - 10% in 5 years On track - At the Q3 FY24 call, management stated a plan to raise non-matchmaking revenue share from \~4% to \~10% "5 years down the line". The share instead fell - FY24 ₹8.99 crore (1.9%), FY25 ₹5.88 crore (1.3%), FY26 ₹4.29 crore (0.9%), Q1 FY27 ₹0.96 crore (0.7%) - with the FY29 horizon not yet reached.
28. Luv.com launch - serious matchmaking app Delivered - At the Q2 FY24 call, management committed to launching luv.com "in maybe next couple of months", with the launch subsequently pushed to end of FY24 and again to "next couple of months". Luv.com launched in October 2024, was relaunched by November 2025, and in Q1 FY27 relaunched with 100% verified profiles plus regional expansion via Malayalee Love.
29. FY24 double-digit revenue and billing growth Missed - At the Q4 FY23 call, management expected double-digit growth in FY24 in both revenue and billing. FY24 consolidated billing grew 4.6% to ₹479 crore and revenue grew 5.6% to ₹481.4 crore - double-digit growth was not achieved.
30. Wedding services breakeven - FY24 then FY25 Missed - At the Q4 FY23 call, management aimed to achieve breakeven in wedding services "sometime this year" (FY24), rescheduling through FY24 quarters to FY25. Losses continued - FY24 ₹10.3 crore, FY25 ₹14.5 crore, FY26 ₹15 crore - and in Q4 FY26 management said it is "not looking at break even in the near future".
31. FY23 billing growth better than FY22's 12.2% Missed - At the Q4 FY22 call, management guided FY23 matchmaking billing growth to be "definitely... better than the FY2022 growth" of 12.2%. FY23 matchmaking billing grew only 3.9% to ₹447 crore, a shortfall management acknowledged.
32. ₹1,000 crore revenue company - in 3-5 years On track - At the Q4 FY22 call, management guided to ₹1,000 crore revenue in "around four years or so possibly between four to five years", all organic, later rephrased as a ₹1,000 crore billing run rate "within the next 5 years or so" and reiterated through Q4 FY24. FY26 revenue was ₹460 crore and Q1 FY27 revenue ₹130.5 crore, annualizing to \~₹522 crore - the 5-year window ending around FY27 has not closed.
33. ₹500 crore billing run rate - FY23 Partial - At the Q4 FY22 call, management guided reaching the ₹500 crore billing run rate "sometime this year probably maybe a second quarter or possibly Q3" of FY23, with the milestone slipping through Q4 FY23 and Q3 FY24. FY23 consolidated billing was ₹458 crore, FY24 ₹479 crore and FY26 ₹488.6 crore - the ₹500 crore level was reached only on an annualized basis in Q1 FY27 at \~₹544 crore.
34. FY22 double-digit billing and revenue growth Delivered - At the Q4 FY21 call, management guided FY22 matchmaking revenue to grow double-digit, reaffirming at Q3 FY22 "we will have double digit growth both on the billing as well as on the revenue side". FY22 matchmaking billing grew 12.2% to ₹430 crore and matchmaking revenue 14.5% to ₹430.4 crore, with consolidated revenue up 15% - both targets achieved.
35. Wedding services ₹100 crore revenue - internal goal in 3-5 years Missed - At the Q4 FY21 call, management set an internal goal to make wedding services a ₹100 crore business "can be it in three years, can be it in five years", tightening it to ₹100 crore turnover in three years at Q4 FY22 before softening the target at Q2 FY25. Wedding services revenue peaked at ₹9.74 crore in FY23 and fell to ₹4.29 crore by FY26 - the target was effectively withdrawn in Q2 FY25, with Q1 FY27 guidance restated as a ₹100 crore run rate ambition.
36. Matchmaking EBITDA margin - 30% plus target Missed - At the Q3 FY21 call, management set a target of taking matchmaking EBITDA margin from 23.6% to 30% plus, noting "progressing well" at Q1 FY22 with the margin reaching 29% in Q2 FY22. The margin instead declined - FY22 26%, FY23 21.4%, FY24 20.9%, FY25 20.5%, FY26 19% - with Q1 FY27 at 26.9%, still short of 30%.
37. Mandap.com venue listings - 30,000 venues in a year or so Delivered - At the Q2 FY21 call, management committed to scaling mandap.com from more than 10,000 wedding venues to 30,000 venues "over the next year or so or maybe more", hoping for 20,000 venues in the coming quarters at Q3 FY21. By Q1 FY23 Mandap.com had around 40,000 plus listings, and the Q4 FY24 PPT cites a network of over 2,00,000 vendors across WeddingBazaar and Mandap - the target was exceeded.