Meesho Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1.03L Cr
- ROE
- -46.22%
- Price to sales
- 7.44
- Debt to equity
- 0.01
- 52W high / low
- ₹241 / ₹135
- EBITDA margin
- -10.66%
- Net profit margin
- -10.67%
- Promoter holding
- 16.34%
- Sales (last year)
- ₹13,835 Cr
The Company is an app-based marketplace that is operated under the brand of Meesho that connects sellers and end consumers. Its offerings span categories including fashion, accessories, electronics, home and kitchen items, health, and fitness equipment, and office supplies.[1]
Guidance scorecard · Q2 FY27 call
What Meesho Ltd's management guided
and where it ranks in Retailing
RevenueQ4 FY26 call
20–40%- Meesho is in an investment phase focusing on rapid growth rather than maximizing contribution margin currently.
- The company aims to grow Meesho Mall quickly, onboarding more brands and expanding product selection across India, especially moving beyond unbranded goods into FMCG and beauty categories.
- The user base is expected to continue growing at 33% year-over-year, with large untapped potential as only ~30% of smartphone users transact online in India compared to 80%+ in other emerging markets.
- New user acquisition investments will continue as long as return thresholds are met, with a focus on rural customer expansion aided by AI-driven tools like the voice agent "Vaani".
2 more points from Meesho Ltd's call on revenue
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MarginsQ4 FY26 call
Up 0–2%See what Meesho Ltd said on margins — free account, 30 seconds.
CapexQ4 FY26 call
Planned- Meesho is exploring automation in the mid-mile logistics segment, experimenting with partners interested in setting up facilities on their behalf. Investment decisions will depend on payback period analysis.
- Plans to bring state-of-the-art automation to their sort centers within the next few years to enhance logistics efficiency, regardless of broader third-party logistics consolidation.
- No fixed commitment yet on direct capital expenditure; investments in logistics automation and infrastructure will be evaluated as opportunities arise.
2 more points from Meesho Ltd's call on capex
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FundraisingQ4 FY26 call
See what Meesho Ltd said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
Rising- The discussion focuses mainly on business metrics such as user cohorts, seller concentration, contribution margin, advertising spend, logistics, order frequency, and seller quality.
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Retailing
on management's own guidance
- Strong growth2
- Strong growth1
- Entero Healthcare Solutions LtdGood growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Retailing companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Flat | ₹6,264 Cr | 38.2 | |
| 2 | 40%+ | Flat | ₹6,053 Cr | 53.9 | |
| 3 | Entero Healthcare Solutions Ltd | 20–40% | Up 0–2% | ₹6,899 Cr | 53.5 |
| 4 | 20–40% | Up 0–2% | ₹790 Cr | 19.0 | |
| 5 | 20–40% | Flat | ₹3.14L Cr | 725.0 | |
| 6 | 20–40% | Flat | ₹1.12L Cr | 170.8 |
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Pro shows every company guiding 40%+ revenue growth →Full Retailing rankingMeesho Ltd announcements
All announcements →- Financial resultsMajor developmentMeesho Limited reports unaudited consolidated Q2 and H1 results to September 30, 2026
Financials of Meesho Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Meesho Ltd
Shareholding breakup across reporting periods.
| Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|
| Promoters + | 16.76% | 16.57% | 16.41% | 16.34% |
| FIIs + | 4.31% | 4.17% | 5.19% | 9.84% |
| DIIs + | 5.28% | 5.56% | 9.14% | 13.60% |
| Government + | 0.00% | 0.00% | 0.00% | 0.07% |
| Public + | 73.66% | 73.70% | 69.26% | 60.18% |
| No. of Shareholders | 2,13,179 | 1,89,154 | 2,46,157 | 2,19,369 |
Financials of Meesho Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales + | 2,679 | 2,400 | 2,504 | 3,074 | 3,518 | 3,531 | 3,713 | 4,132 |
| Expenses + | 2,809 | 2,631 | 2,768 | 3,530 | 4,056 | 3,786 | 3,937 | 4,361 |
| Operating Profit | -131 | -231 | -264 | -456 | -539 | -255 | -225 | -229 |
| OPM % | -4.9% | -10% | -11% | -15% | -15% | -7% | -6% | -6% |
| Other Income + | 160 | -1,158 | 34 | 136 | 75 | 116 | 114 | 127 |
| Interest | 2 | 1 | 1 | 1 | 4 | 2 | 2 | 1 |
| Depreciation | 12 | 5 | 8 | 9 | 11 | 19 | 20 | 20 |
| Profit before tax | 15 | -1,395 | -240 | -330 | -479 | -160 | -133 | -123 |
| Tax % | 342% | -0% | 21% | 24% | 3% | 4% | 0% | 7% |
| Net Profit + | -37 | -1,391 | -289 | -411 | -491 | -166 | -133 | -132 |
| EPS in Rs | -4.44 | -159.79 | -1.49 | -2.11 | -1.09 | -0.36 | -0.29 | -0.29 |
Financials of Meesho Ltd
Profit & Loss
Annual income statement trend
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|
| Sales + | 5,735 | 7,615 | 9,390 | 12,626 | 14,893 |
| Expenses + | 7,533 | 8,109 | 9,968 | 14,111 | 16,141 |
| Operating Profit | -1,799 | -494 | -578 | -1,485 | -1,248 |
| OPM % | -31% | -6% | -6% | -12% | -8% |
| Other Income + | 155 | 231 | -835 | 332 | 432 |
| Interest | 1 | 6 | 7 | 9 | 10 |
| Depreciation | 30 | 58 | 34 | 47 | 69 |
| Profit before tax | -1,675 | -328 | -1,455 | -1,209 | -895 |
| Tax % | 0% | 0% | 171% | 12% | |
| Net Profit + | -1,675 | -328 | -3,942 | -1,358 | -922 |
| EPS in Rs | -213.79 | -41.82 | -452.68 | -2.97 | -2.03 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
Financials of Meesho Ltd
Balance Sheet
Capital structure and asset base
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 8 | 0.00 | 0.27 | 456 | 463 |
| Reserves | 2,169 | 2,230 | 1,445 | 3,930 | 3,743 |
| Borrowings + | 0 | 72 | 58 | 63 | 49 |
| Other Liabilities + | 1,376 | 1,859 | 5,722 | 3,458 | 3,747 |
| Total Liabilities | 3,553 | 4,161 | 7,226 | 7,907 | 8,002 |
| Fixed Assets + | 56 | 112 | 96 | 195 | 167 |
| CWIP | 2 | 0 | 0 | 0 | 0 |
| Investments | 2,053 | 744 | 4,983 | 1,210 | 2,843 |
| Other Assets + | 1,442 | 3,305 | 2,147 | 6,502 | 4,992 |
| Total Assets | 3,553 | 4,161 | 7,226 | 7,907 | 8,002 |
Financials of Meesho Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Cash from Operating Activity + | -2,303 | 220 | 539 | -3,875 |
| Cash from Investing Activity + | -1,289 | -165 | -2,638 | 247 |
| Cash from Financing Activity + | 3,263 | -11 | 2,105 | 4,101 |
| Net Cash Flow | -328 | 44 | 7 | 473 |
| Free Cash Flow | -2,303 | 186 | 516 | -3,976 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 128% | -47% | -100% | 74% |
Financials of Meesho Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Debtor Days | 0 | 0 | 0 | 0 |
| Inventory Days | ||||
| Days Payable | ||||
| Cash Conversion Cycle | 0 | 0 | 0 | 0 |
| Working Capital Days | -59 | 20 | -167 | -27 |
| ROCE % | -15% | -9% | -40% |
Guidance history
How Meesho Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q4 FY26 call → | 20–40% | Up 0–2% | Planned | — | Rising |
| Q3 FY26 call → | 20–40% | Up 0–2% | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Continue your research
What Meesho Ltd's management said in earlier quarters
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