Meesho Ltd
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]
- Market Cap ₹ 1,19,049 Cr.
- Current Price ₹ 257
- High / Low ₹ 259 / 126
- Stock P/E 74.4
- Book Value ₹ 73.0
- Dividend Yield 0.00 %
- ROCE 5.82 %
- ROE 4.50 %
- Face Value ₹ 1.00
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 28.9% CAGR over last 5 years
Cons
- Stock is trading at 3.52 times its book value
- Promoter holding is low: 16.3%
- Company has a low return on equity of -10.2% over last 3 years.
- Earnings include an other income of Rs.2,061 Cr.
- Working capital days have increased from -24.4 days to 71.0 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| 793 | 3,232 | 5,735 | 7,615 | 9,388 | 6,381 | 7,562 | |
| Sales growth | +308% | +77% | +33% | +23% | -32% | -16% | |
| 1,328 | 6,598 | 7,533 | 8,100 | 9,943 | 6,650 | 7,933 | |
| Operating Profit | -536 | -3,366 | -1,799 | -485 | -555 | -269 | -371 |
| OPM % | -68% | -104% | -31% | -6% | -6% | -4.2% | -4.9% |
| 46 | 127 | 155 | 231 | -801 | 27,801 | 2,061 | |
| Interest | 0 | 0 | 1 | 6 | 7 | 9 | 9 |
| Depreciation | 9 | 9 | 30 | 58 | 34 | 44 | 66 |
| Profit before tax | -499 | -3,248 | -1,675 | -318 | -1,397 | 27,480 | 1,615 |
| Tax % | 0% | 0% | 0% | 0% | 178% | 1% | |
| -499 | -3,248 | -1,675 | -318 | -3,883 | 27,331 | 1,596 | |
| EPS in Rs | -127.92 | -519.82 | -213.79 | -40.64 | -445.98 | 59.88 | 3.51 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 52% |
| 3 Years: | 4% |
| TTM: | -16% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 29% |
| 3 Years: | 35% |
| TTM: | 575% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | -31% |
| 3 Years: | -10% |
| Last Year: | 5% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 6 | 8 | 0.00 | 0.27 | 456 | 463 |
| Reserves | 150 | 466 | 2,169 | 2,241 | 1,516 | 32,698 | 33,328 |
| 0 | 0 | 0 | 72 | 58 | 63 | 49 | |
| 586 | 2,143 | 1,376 | 1,854 | 5,683 | 1,201 | 998 | |
| Total Liabilities | 739 | 2,616 | 3,553 | 4,168 | 7,258 | 34,418 | 34,838 |
| 8 | 35 | 56 | 112 | 96 | 190 | 161 | |
| CWIP | 0 | 0 | 2 | 0 | 0 | 0 | 0 |
| Investments | 358 | 1,198 | 2,053 | 754 | 5,006 | 30,654 | 32,918 |
| 374 | 1,383 | 1,442 | 3,302 | 2,157 | 3,574 | 1,759 | |
| Total Assets | 739 | 2,616 | 3,553 | 4,168 | 7,258 | 34,418 | 34,838 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| -247 | -2,113 | -2,303 | 226 | 543 | -5,637 | |
| 278 | -907 | -1,289 | -171 | -2,648 | 1,774 | |
| -5 | 3,372 | 3,263 | -11 | 2,105 | 4,101 | |
| Net Cash Flow | 25 | 353 | -328 | 44 | 0 | 239 |
| Free Cash Flow | -250 | -2,113 | -2,303 | 191 | 520 | -5,738 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 46% | 63% | 128% | -49% | -104% | 1,067% |
Ratios
Standalone / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 71 | 0 | 0 | 0 | 0 | 56 |
| Inventory Days | ||||||
| Days Payable | ||||||
| Cash Conversion Cycle | 71 | 0 | 0 | 0 | 0 | 56 |
| Working Capital Days | -131 | -145 | -59 | 20 | -165 | 71 |
| ROCE % | -1,038% | -126% | -15% | -7% | 6% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Annual Transacting Sellers count |
|
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| Annual Transacting Users million |
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| NMV - Marketplace (Net Merchandise Value) INR Cr |
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| NMV / GMV Ratio (Delivery Success Rate) % |
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| Order Frequency times per year |
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| Placed Orders million |
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| Prepaid Order Share % |
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| Valmo In-sourcing Share (of Shipped Orders) % |
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Extracted by Screener AI
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
-
Announcement under Regulation 30 (LODR)-Updates on Acquisition
- Meesho completed 92.74% acquisition of Kirana Club and RPLPL for ₹186.71 crore on November 7, 2026.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
- Intimation w.r.t newspaper publication of postal ballot notice
- Shareholder Meeting / Postal Ballot-Notice of Postal Ballot
- Announcement under Regulation 30 (LODR)-Earnings Call Transcript
Concalls
-
Nov 2026Transcript REC
-
Jul 2026Transcript PPT REC
-
May 2026Transcript
-
Feb 2026Transcript PPT REC
Market Position & Business Scale:[1][2]
Meesho is India's largest e-commerce
platform by Annual Transacting Users
(ATUs) and placed orders, catering to
value-conscious consumers through
its Everyday Low Prices model. Its
portfolio spans apparel, footwear,
home, kitchen, beauty, personal
care and other categories, covering
unbranded products, regional brands
and national brands.