Meesho (MEESHO) investor relations material

Executive summary

• Achieved strong growth in annual transacting user base, up 33% year-over-year, driven by product innovation and rural customer acquisition.

• Revenue from operations grew to ₹126,263.48 million for FY26, up from ₹93,899.03 million year-over-year.

• Net loss for FY26 was ₹13,577.38 million, a reduction from ₹39,417.05 million in FY25.

• Completed IPO in December 2025, raising ₹42,500 million via fresh issue and listing on NSE and BSE.

• Major internal reorganization and demerger of grocery and marketplace businesses completed.

Financial highlights

• Contribution margin exited Q4 at 4%, recovering from one-time logistics headwinds in Q2 and Q3 FY 2026.

• FY26 consolidated revenue: ₹126,263.48 million (FY25: ₹93,899.03 million).

• Net loss: ₹13,577.38 million (FY25: ₹39,417.05 million).

• Cash and cash equivalents at year-end: ₹6,203.72 million.

• Exceptional items for FY26: ₹12,847.18 million, mainly due to share-based payments and business combination expenses.

Outlook and guidance

• No specific short-term EBITDA or free cash flow guidance provided, but management expects continued improvement in FCF and margin trajectory.

• Infusion of up to ₹100 crore into Meesho Payments Private Limited to support growth and regulatory needs.

• Ongoing investments in user acquisition will be maintained as long as ROI thresholds are met, with a focus on rural expansion.

• Meesho Mall remains in investment phase, prioritizing growth and brand onboarding over immediate margin expansion.

• Internal reorganization to enhance logistics efficiency and focus.