Meesho Ltd
Meesho Ltd
RetailKey Fundamentals
MidcapEcommerceRetailInsights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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30 extracted metrics + investor summaries across FY23–FY26.
Tapetide Score
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Technical Indicators
Key Insights
Strengths
1- Company is almost debt free.
Weaknesses
4- Stock is trading at 21.5 times its book value
- Company has low interest coverage ratio.
- Promoter holding is low: 16.4%
- Company has a low return on equity of -92.4% over last 3 years.
Growth Rate
AI Analysis — Bull vs Bear
Meesho Ltd is a recently listed e-commerce platform with a market cap of approximately ₹90,283 crore, trading at a negative P/E of -75.7x indicating ongoing losses, while demonstrating strong TTM revenue growth of 34%. The company is nearly debt-free but carries a deeply negative 3-year average ROE of -92% and trades at 20.73x book value.
- TTM revenue growth of 34% demonstrates strong top-line momentum in a competitive e-commerce market
- Company is almost debt-free, providing financial flexibility to fund growth without leverage risk
- 3-year compounded sales growth of 30% indicates sustained demand and scaling ability
- TTM compounded profit growth of 75% suggests the company is rapidly narrowing losses and moving toward profitability
- Market cap of ₹90,283 crore reflects significant investor confidence in the long-term addressable market for social commerce in India
- Zero dividend yield is consistent with a high-growth reinvestment phase where capital is being deployed for expansion rather than payouts
- Last year ROE improved to -42% from a 3-year average of -92%, indicating a meaningful trajectory of loss reduction
- Negative P/E of -75.7x confirms the company is still loss-making with no near-term earnings visibility
- 3-year average ROE of -92% reflects deep and sustained destruction of shareholder equity
- Stock trades at 20.73x book value, an extremely elevated valuation for a company yet to turn profitable
- Promoter holding at just 16.4% is notably low, raising concerns about alignment of interests and potential dilution risk
- Low interest coverage ratio indicates that even minimal debt servicing is a strain on current operating earnings
- Zero dividend yield with no profitability timeline means investors rely entirely on capital appreciation with no income cushion
- 3-year compounded profit growth of only 8% despite 30% sales growth suggests margin compression or rising costs that offset revenue gains
- Absence of reported EPS, ROCE, and debt-to-equity figures limits transparency and makes fundamental valuation highly uncertain
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- First BRSR filed for FY26 Aug 24
Meesho filed its inaugural Business Responsibility and Sustainability Report for FY26, reporting turnover of ₹63,809.23 million, 1,602 employees, and zero safety incidents.
- 11th AGM set for Sep 18 Aug 24
Meesho scheduled its 11th Annual General Meeting for September 18, 2026 via VC/OAVM, with remote e-voting open from September 13 to 17.
- Investor meet on Aug 17-18 Aug 12
Meesho announced in-person meetings with institutional investors and analysts on August 17 and 18, 2026 under SEBI Listing Regulations.
TL;DR: All recent news for Meesho is procedural and compliance-related, with no material positive or negative catalysts. The company reported ₹63.8 billion turnover in FY26 and maintains clean safety and governance records. Active investor engagement signals transparency, but the lack of business updates or growth catalysts leaves the near-term outlook data-dependent on upcoming AGM disclosures.
Quarterly Results
| Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|
| Sales | 2,679 | 2,400 | 2,504 | 3,074 | 3,518 | 3,531 | 3,713 |
| Expenses | 2,809 | 2,631 | 2,768 | 3,530 | 4,056 | 3,786 | 3,937 |
| Operating Profit | -131 | -231 | -264 | -456 | -539 | -255 | -225 |
| OPM % | -4.9% | -10% | -11% | -15% | -15% | -7% | -6% |
| Other Income | 160 | -1,158 | 34 | 136 | 75 | 116 | 114 |
| Interest | 2 | 1 | 1 | 1 | 4 | 2 | 2 |
| Depreciation | 12 | 5 | 8 | 9 | 11 | 19 | 20 |
| PBT | 15 | -1,395 | -240 | -330 | -479 | -160 | -133 |
| Tax % | 342% | 0% | 21% | 24% | 3% | 4% | 0% |
| Net Profit | -37 | -1,391 | -289 | -411 | -491 | -166 | -133 |
| EPS in Rs | -4.44 | -160 | -1.49 | -2.11 | -1.09 | -0.36 | -0.29 |
Profit & Loss
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|
| Sales | 5,735 | 7,615 | 9,390 | 12,626 | 13,835 |
| Expenses | 7,533 | 8,109 | 9,968 | 14,111 | 15,310 |
| Operating Profit | -1,799 | -494 | -578 | -1,485 | -1,475 |
| OPM % | -31% | -6% | -6% | -12% | -11% |
| Other Income | 155 | 231 | -835 | 332 | 441 |
| Interest | 1 | 6 | 7 | 9 | 10 |
| Depreciation | 30 | 58 | 34 | 47 | 58 |
| PBT | -1,675 | -328 | -1,455 | -1,209 | -1,102 |
| Tax % | 0% | 0% | 171% | 12% | — |
| Net Profit | -1,675 | -328 | -3,942 | -1,358 | -1,201 |
| EPS in Rs | -214 | -41.82 | -453 | -2.97 | -3.85 |
| Div. Payout % | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Equity Capital | 8 | 0 | 0.27 | 456 |
| Reserves | 2,169 | 2,230 | 1,445 | 3,930 |
| Borrowings | 0 | 72 | 58 | 63 |
| Other Liabilities | 1,376 | 1,859 | 5,722 | 3,458 |
| Total Liabilities | 3,553 | 4,161 | 7,226 | 7,907 |
| Fixed Assets | 56 | 112 | 96 | 195 |
| CWIP | 2 | 0 | 0 | 0 |
| Investments | 2,053 | 744 | 4,983 | 1,210 |
| Other Assets | 1,442 | 3,305 | 2,147 | 6,502 |
| Total Assets | 3,553 | 4,161 | 7,226 | 7,907 |
Cash Flow
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Operating | -2,303 | 220 | 539 | -3,875 |
| Investing | -1,289 | -165 | -2,638 | 247 |
| Financing | 3,263 | -11 | 2,105 | 4,101 |
| Net Cash Flow | -328 | 44 | 7 | 473 |
| Free Cash Flow | -2,303 | 186 | 516 | -3,976 |
| CFO/OP | 128 | -47 | -100 | 261 |
Ratios
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Debtor Days | 0 | 0 | 0 | 0 |
| Cash Conversion Cycle | 0 | 0 | 0 | 0 |
| Working Capital Days | -59 | 20 | -167 | 1 |
| ROCE % | — | -15% | -9% | -36% |
Documents
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Company Information
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]