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
- Operating margins have improved to -11.6% from -28.6%
- Company converts assets efficiently - asset turnover of 1.7x
CONS
- Company is loss-making at the operating / net level
- Operating cash flow has been negative in recent years
- Receivables are growing faster than sales - a possible quality concern
- Company has a low return on equity of -164.1% over last 3 years
- Interest coverage is weak at -133.9x - earnings barely cover interest
- Company has a low return on capital employed of -44.5%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ETERNAL | 320.50 | 714.30 | 309293.74 | 0.00 | 92.00 | 268.00 | 20211.00 | 182.00 | 3.29 | 2.94 |
| MEESHO | 217.95 | 70.54 | 100828.48 | 0.00 | -1328.35 | -359.07 | 37128.11 | 1382.83 | -41.16 | -6.05 |
| NYKAA | 342.25 | 382.74 | 98030.49 | 0.00 | 79.76 | 225.95 | 2782.00 | 29.10 | 20.15 | 8.48 |
| SWIGGY | 279.00 | 0.00 | 77012.75 | 0.00 | -791.00 | 33.92 | 6812.00 | 37.31 | -27.59 | -9.56 |
| INDIAMART | 1638.35 | 19.97 | 9853.55 | 3.66 | 172.20 | 12.18 | 414.40 | 11.37 | 28.39 | 31.83 |
| SHIPROCKET | 129.35 | 0.00 | 9411.22 | 0.00 | -137.14 | — | 5920.87 | — | -3.02 | -1.84 |
| FIRSTCRY | 171.30 | 70.17 | 8943.41 | 0.00 | -43.95 | 33.91 | 2106.23 | 13.08 | -0.20 | 2.83 |
| IBULLSLTD | 24.66 | 13.72 | 5751.22 | 0.00 | 1410.20 | 53516.67 | 3594.50 | — | 0.00 | 42.82 |
| MSTCLTD | 737.80 | 22.17 | 5194.11 | 2.13 | 58.22 | 37.50 | 94.24 | 21.71 | 30.28 | 61.36 |
| ISFT | 81.49 | 9.69 | 132.92 | 0.00 | 4.54 | 10.85 | 139.63 | 8.25 | 6.12 | 3.50 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|
| 2,679 | 2,400 | 2,504 | 3,074 | 3,518 | 3,531 | 3,713 | |
| 2,809 | 2,631 | 2,778 | 3,530 | 4,056 | 3,786 | 3,959 | |
| Operating Profit | -131 | -231 | -274 | -456 | -539 | -255 | -246 |
| OPM % | -4.88% | -9.62% | -10.93% | -14.84% | -15.32% | -7.22% | -6.64% |
| 160 | -1,158 | 218 | 136 | 75 | 116 | 114 | |
| Interest | 2 | 1 | 1 | 1 | 4 | 2 | 2 |
| Depreciation | 12 | 5 | 8 | 9 | 11 | 19 | 20 |
| Profit before Tax | 15 | -1,395 | -240 | -330 | -479 | -160 | -133 |
| Tax % | 342.33% | 0.25% | -20.52% | -24.47% | -2.52% | -3.91% | -0.00% |
| Net Profit | 0 | 0 | -289 | -411 | -491 | -166 | -133 |
| -0.09 | -3.39 | -0.68 | -0.97 | -1.14 | -0.36 | -0.28 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|
| 5,735 | 7,615 | 9,390 | 12,626 | 13,835 | |
| 7,538 | 8,109 | 9,968 | 14,111 | 15,332 | |
| Operating Profit | -1,804 | -494 | -579 | -1,485 | -1,496 |
| OPM % | -31.45% | -6.49% | -6.16% | -11.76% | -10.82% |
| 163 | 231 | -835 | 332 | 441 | |
| Interest | 1 | 6 | 7 | 9 | 10 |
| Depreciation | 30 | 58 | 34 | 47 | 58 |
| Profit before Tax | -1,672 | -328 | -1,455 | -1,209 | -1,102 |
| Tax % | -0.00% | -0.00% | -170.93% | -12.28% | -9.00% |
| Net Profit | -1,672 | -328 | -3,942 | -1,358 | -1,201 |
| EPS | -4.43 | 0.00 | -14491.56 | -2.97 | — |
| Dividend Payout % | — | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 30%
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:
- —
- 3 Years:
- -164%
- Last Year:
- -59%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Equity Capital | 0 | 0 | 0 | 456 |
| 1,763 | 1,299 | 616 | 3,500 | |
| 0 | 58 | 42 | 35 | |
| Trade Payables | 834 | 875 | 1,071 | 1,570 |
| 1,256 | 1,929 | 5,496 | 2,345 | |
| Total Liabilities | 3,853 | 4,161 | 7,226 | 7,907 |
| 56 | 112 | 96 | 195 | |
| 2,344 | 744 | 4,983 | 1,210 | |
| 0 | 0 | 0 | 6 | |
| Cash & Bank | 109 | 141 | 378 | 1,893 |
| 1,345 | 3,164 | 1,768 | 4,602 | |
| Total Assets | 3,853 | 4,161 | 7,226 | 7,907 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| -2,298 | 220 | 539 | -3,875 | |
| Cash from Investing | 498 | -166 | -2,635 | 247 |
| Cash from Financing | -12 | -11 | 2,105 | 4,101 |
| -1,822 | 43 | 9 | 473 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-11 - Meesho Limited has informed the Exchange regarding Corrigendum to Notice of Annual General Meeting to be held on September 18, 2026
2026-09-11 - Meesho Limited has informed the Exchange regarding the Amendment to AOA/MOA of the company.
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.
News
Recent coverage and analyst commentary for MEESHO
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