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Meesho Ltd

MEESHO NSE

Key Fundamentals

MidcapEcommerceRetail
Market Cap
₹88,237 Cr
Volatility
Moderate
P/E Ratio
-73.8
EBITDA
₹-1,626 Cr
Return on Equity
-272.68%
Debt to Equity
0.01
Book Value
₹9.5
52W High
₹254.4
52W Low
₹125.56

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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30 extracted metrics + investor summaries across FY23–FY26.

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Tapetide Score

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Technical Indicators

Key Insights

Strengths

1
  • Company is almost debt free.

Weaknesses

4
  • Stock is trading at 20.0 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

Revenue Growth
27.53%
Net Income Growth
-65.55%
Cash Flow Change
144.95%
ROE
1756.23%
ROCE
587.81%
EBITDA Margin (Avg.)
1725.00%

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 10h ago
AI opinion · based on fundamentals
Risk high

Meesho is an asset-light e-commerce marketplace trading at a market cap of ₹88,237 crore with a negative PE of -73.8x and a price-to-book of 20.2x. The company posted FY26 revenue of ~₹13,099 crore with a narrowing net loss of ~₹1,209 crore, while annual transacting users grew 33% to 264 million and orders rose 45% to 2.67 billion in FY26.

Bull Case 8
  • Revenue growing at a TTM rate of 34% with FY26 Q4 revenue up 47% YoY to ₹3,531 crore, demonstrating accelerating top-line momentum
  • Annual transacting users grew 33% YoY to 264 million in FY26, indicating strong platform adoption in underpenetrated Tier-2/3/4 markets
  • Order volumes surged 45% YoY to 2.67 billion in FY26, with purchase frequency improving to 10.1 orders per user annually
  • Net loss narrowed 88% in Q4 FY26 to ₹166 crore from ₹1,391 crore a year earlier, showing a clear path toward profitability
  • Company is almost debt-free, giving financial flexibility to invest in growth without leverage risk
  • Asset-light marketplace model with no inventory or warehousing costs provides operating leverage as volumes scale
  • Compounded profit improvement of 75% on TTM basis signals rapid loss reduction trajectory
  • Active seller base grew 81% YoY to 8.46 lakh sellers in Q3 FY26, deepening supply-side network effects
Bear Case 8
  • Stock trades at 20.2x book value despite the company being loss-making, implying stretched valuation relative to current fundamentals
  • Three-year average ROE of -92% reflects sustained value destruction for equity holders over the medium term
  • Promoter holding is low at 16.4%, which may raise governance concerns and create overhang from potential insider selling
  • FY25 net loss stood at ₹3,942 crore (including exceptional items for reverse flip tax), showing vulnerability to large one-time charges
  • Negative PE of -73.8x means the company remains unprofitable with no near-term earnings to support the ₹88,237 crore market cap
  • Q3 FY26 loss widened sharply to ₹491 crore from ₹37 crore YoY due to rising costs from logistics arm Valmo expansion and customer acquisition spending
  • Zero dividend yield with no visibility on when cash returns to shareholders might begin given ongoing losses
  • Intense competition from Flipkart, Amazon India, and other value platforms means customer acquisition costs may remain elevated to sustain growth

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 4h ago
Headwinds 1
  • GST treatment allegations raised Jul 21

    InGovern Research alleged Meesho's GST treatment provides a recurring financial advantage, raising concerns over tax compliance and corporate governance. No regulatory response or quantum of advantage disclosed yet.

Positives 1
  • Q1FY26 swings to profit Jul 25

    Meesho reported standalone net profit of ₹3,537.70 million for Q1FY26, swinging from a loss in the prior year. Board approved ₹75 crore investment in Meesho Grocery and full acquisition of Meesho Payments.

Neutral 2
  • Investor meet scheduled Aug 17-18 Aug 12

    Meesho will hold in-person meetings with institutional investors and analysts on August 17 and 18, 2026, per SEBI Listing Regulations.

  • Q1 FY27 earnings call held Jul 23

    Meesho hosted its Q1 FY27 virtual earnings conference call on July 23, 2026, and made the audio recording available on its investor website.

TL;DR: Meesho has turned profitable with a ₹3,537.70 million standalone net profit in Q1FY26 and is actively investing in grocery and payments verticals. The key risk is the InGovern allegation on GST treatment which could invite regulatory scrutiny. Investor engagement remains active with scheduled meets and earnings calls. The profitability trend is positive but the GST controversy warrants monitoring for any regulatory action.

Quarterly Results

  Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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
Figures in ₹ Crores

Profit & Loss

  Mar 2023Mar 2024Mar 2025Mar 2026TTM
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%
Figures in ₹ Crores

Balance Sheet

  Mar 2023Mar 2024Mar 2025Mar 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
Figures in ₹ Crores

Cash Flow

  Mar 2023Mar 2024Mar 2025Mar 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
Figures in ₹ Crores

Ratios

  Mar 2023Mar 2024Mar 2025Mar 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%

Shareholding Pattern

As of Jun 2026
Others 65.98%
Promoters 16.41%
DIIs 9.14%
FIIs 5.19%
Public 3.28%
Total 100.00%
  Oct 2025Nov 2025Dec 2025Mar 2026Jun 2026
Promoters
40.47%
19.08%
16.76%
16.57%
16.41%
FIIs
0.00%
0.00%
4.31%
4.17%
5.19%
DIIs
0.00%
0.00%
5.28%
5.55%
9.14%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
Public
0.00%
0.00%
1.56%
2.63%
3.28%
Others
59.53%
80.92%
72.10%
71.07%
65.98%
No. of Shareholders
167
166
168
1,89,154
2,46,157

Documents

Frequently Asked Questions about Meesho Ltd

What does Meesho Ltd do?
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]
Where is Meesho Ltd (MEESHO) listed?
Meesho Ltd is listed on the Indian stock exchanges. It is listed on NSE: MEESHO and BSE: 544632. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Meesho Ltd belong to?
Meesho Ltd operates in the Retail sector within the Ecommerce industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Meesho Ltd?
Meesho Ltd has a market capitalisation of approximately ₹88236.81 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Meesho Ltd?
The Price-to-Earnings (PE) ratio of Meesho Ltd is -73.80. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Meesho Ltd?
Over the past 52 weeks, Meesho Ltd has traded between a low of ₹125.56 and a high of ₹254.4. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Meesho Ltd?
Meesho Ltd has a Return on Equity (ROE) of -272.68%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Meesho Ltd on Tapetide?
On Tapetide, you can view Meesho Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

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]

Website meesho.com
Listed 2025-12-10
Face Value ₹ 1
Issued Size 4,51,31,31,000

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