Meesho Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Marketplace: 99.9% • New Initiatives: 0.1%
AI Sector View
AI GENERATEDConsumer Services
Consumer services have a mixed operating backdrop but strong market sponsorship. Foreign tourist arrivals in India rose 6.0% YoY (2026-06), export of services grew 13.0% YoY (2026-06), and headline tourist arrivals were 584000 (Jun/26), though airport passenger traffic was -2.0% YoY (2026-06). Strong FPI inflow of INR 19847 crore over 3 months to 2026-08-31 supports a Buy stance despite some travel softness.
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 23.5%
- Company has delivered good sales growth of 51.8% CAGR over last 5 years
- Operating margins have improved to -4.2% from -28.7%
CONS
- Company is loss-making at the operating / net level
- Operating cash flow has been negative in recent years
- Company has a low return on equity of -81.8% over last 3 years
- Recent results are weak - TTM profit is down 93.9% versus prior year
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.21x)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ETERNAL | 320.00 | 713.19 | 308811.22 | 0.00 | 92.00 | 268.00 | 20211.00 | 182.00 | 3.29 | 2.94 |
| MEESHO | 216.95 | 70.22 | 100365.86 | 0.00 | -1328.35 | -359.07 | 37128.11 | 1382.83 | -41.16 | -6.05 |
| NYKAA | 343.00 | 383.58 | 98245.31 | 0.00 | 79.76 | 225.95 | 2782.00 | 29.10 | 20.15 | 8.48 |
| SWIGGY | 283.25 | 0.00 | 78185.88 | 0.00 | -791.00 | 33.92 | 6812.00 | 37.31 | -27.59 | -9.56 |
| INDIAMART | 1672.95 | 20.39 | 10061.65 | 3.59 | 172.20 | 12.18 | 414.40 | 11.37 | 28.39 | 31.83 |
| SHIPROCKET | 132.60 | 0.00 | 9647.68 | 0.00 | -137.14 | — | 5920.87 | — | -3.02 | -1.84 |
| FIRSTCRY | 172.65 | 70.72 | 9013.89 | 0.00 | -43.95 | 33.91 | 2106.23 | 13.08 | -0.20 | 2.83 |
| IBULLSLTD | 25.09 | 13.96 | 5851.50 | 0.00 | 1410.20 | 53516.67 | 3594.50 | — | 0.00 | 42.82 |
| MSTCLTD | 760.10 | 22.84 | 5351.10 | 2.07 | 58.22 | 37.50 | 94.24 | 21.71 | 30.28 | 61.36 |
| ISFT | 82.55 | 9.81 | 134.65 | 0.00 | 4.54 | 10.85 | 139.63 | 8.25 | 6.12 | 3.50 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|
| 2,678 | 2,399 | 2,032 | 1,391 | 1,579 | 1,379 | 2,093 | |
| 2,801 | 2,626 | 2,240 | 1,421 | 1,621 | 1,406 | 2,206 | |
| Operating Profit | -123 | -226 | -208 | -30 | -42 | -27 | -113 |
| OPM % | -4.59% | -9.44% | -10.22% | -2.13% | -2.69% | -1.99% | -5.39% |
| 160 | -1,155 | -26,261 | 142 | 802 | 374 | 467 | |
| Interest | 2 | 1 | 1 | 1 | 4 | 2 | 2 |
| Depreciation | 12 | 4 | 8 | 8 | 10 | 18 | 19 |
| Profit before Tax | 23 | -1,387 | 26,305 | 103 | 746 | 326 | 354 |
| Tax % | 227.19% | 0.26% | 0.19% | 78.34% | 1.62% | 1.92% | 0.00% |
| Net Profit | -30 | -1,384 | 26,256 | 22 | 734 | 320 | 354 |
| -0.07 | -3.37 | 61.82 | 0.05 | 1.71 | 0.69 | 0.76 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 80 | 307 | 793 | 3,232 | 5,735 | 7,615 | 9,388 | 6,381 | 6,442 | |
| 184 | 647 | 1,328 | 6,598 | 7,533 | 8,100 | 9,943 | 6,650 | 6,655 | |
| Operating Profit | -104 | -340 | -536 | -3,366 | -1,799 | -485 | -555 | -269 | -212 |
| OPM % | -130.32% | -110.76% | -67.56% | -104.14% | -31.36% | -6.37% | -5.91% | -4.21% | -3.30% |
| 5 | 42 | 46 | 127 | 155 | 231 | -801 | 27,801 | 1,785 | |
| Interest | 1 | 1 | 0 | 0 | 1 | 6 | 7 | 9 | 9 |
| Depreciation | 0 | 8 | 9 | 9 | 30 | 58 | 34 | 44 | 55 |
| Profit before Tax | -100 | -307 | -499 | -3,248 | -1,675 | -318 | -1,397 | 27,480 | 1,528 |
| Tax % | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -178.07% | 0.54% | 6.49% |
| Net Profit | -100 | -307 | -499 | -3,248 | -1,675 | -318 | -3,883 | 27,331 | 1,429 |
| EPS | -63.52 | -89.34 | -127.92 | -606.46 | -225.38 | 0.00 | -14277.18 | 59.88 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 52%
- 3 Years:
- 4%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- -407%
- 3 Years:
- -82%
- Last Year:
- 164%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3 | 4 | 4 | 6 | 8 | 0 | 0 | 456 |
| 189 | 611 | 150 | 239 | 1,811 | 1,311 | 687 | 32,268 | |
| 0 | 0 | 0 | 2 | 0 | 58 | 42 | 35 | |
| Trade Payables | 65 | 80 | 286 | 1,325 | 829 | 870 | 1,065 | 621 |
| 4 | 39 | 300 | 1,044 | 905 | 1,928 | 5,464 | 1,038 | |
| Total Liabilities | 260 | 733 | 739 | 2,616 | 3,553 | 4,168 | 7,258 | 34,418 |
| 3 | 14 | 8 | 35 | 56 | 112 | 96 | 190 | |
| 200 | 603 | 358 | 1,198 | 2,053 | 754 | 5,006 | 30,654 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 987 | |
| Cash & Bank | 19 | 46 | 72 | 518 | 151 | 139 | 370 | 655 |
| 38 | 70 | 302 | 865 | 1,293 | 3,163 | 1,787 | 1,932 | |
| Total Assets | 260 | 733 | 739 | 2,616 | 3,553 | 4,168 | 7,258 | 34,418 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| -72 | -303 | -246 | -2,100 | -2,292 | 226 | 543 | -5,637 | |
| Cash from Investing | -196 | -371 | 278 | -907 | -1,289 | -171 | -2,645 | 1,774 |
| Cash from Financing | 283 | 706 | -5 | 3,372 | 3,263 | -11 | 2,105 | 4,101 |
| 15 | 30 | 25 | 353 | -328 | 43 | 3 | 239 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-10 - Meesho Limited has informed the Exchange about Schedule of meet
2026-09-09 - Meesho Limited has informed the Exchange about change in Senior Management Personnel.
2026-09-07 - Meesho Limited has informed the Exchange about Schedule of meet
2026-09-03 - Meesho Limited has informed the Exchange regarding Grant of 15556 Options.
2026-09-03 - Meesho Limited has informed the Exchange regarding Allotment of 1352253 Equity Shares pursuant to exercise of ESOP
2026-08-28 - Meesho Limited has informed the Exchange about Communication sent to the shareholders with respect to the Annual Report including Notice of the Annual General Meeting of the Company for Financial Year 2025-26
2026-08-25 - Meesho Limited has informed the Exchange about Newspaper publication w.r.t Dispatch of Notice of the 11th Annual General Meeting of the Company.
2026-08-24 - Meesho Limited has informed the Exchange regarding 'Business Responsibility and Sustainability Report for the financial year 2025-26'.
2026-08-24 - Meesho Limited has informed the Exchange regarding 'Notice of Annual General Meeting and Annual Report for the Financial Year 2025-26. '.
News
Recent coverage and analyst commentary for MEESHO
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