Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 10 Oct - Meesho Mega Blockbuster Sale Day 1 orders rose 75% YoY; peak orders crossed 75,000 a minute.
Source: Bse
Meesho Limited (MEESHO)
Small CapConsumer stocks · Small cap · NSE
Meesho Limited is an Indian e-commerce platform focused on value commerce for mass India, including rural customers. It is scaling Meesho Mall for affordable brands and leverages AI for customer acquisition and supply chain efficiency.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals20 Oct 2026 · screener
Latest result23 Jul, 10:35 pm IST
Score20 Oct, 05:15 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage12/14 · 86%
Valuation2026-07-20 · Rf 6.8% · Consumer P/E 22.2 (n=441)
Technical timing lens
Trend score and candlestick chart
61Bullishfull bull SMA stack · SMA20 +8.9% / mo · MACD − · near 52W high · sector -3.7pp vs Nifty 500 (3M)
Stock trend: 78
Sector RS: 36
Sector 3M: -9.3% vs Nifty 500 -5.6%
Consumer FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
MEESHOD candles · FIT view+27.1%Latest close ₹229.59 on 2026-10-19
Daily history is available from 2025-12-10; the requested 1Y window is partially covered.
Bar
+1.1%
RSI
54
MACD hist
-1.20
52W pos
81%
2026-10-19O ₹227.20H ₹230.30L ₹224.73C ₹229.59Vol 69.6L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
MEESHONifty Consumer DurablesNifty 500
- MEESHO
- +23.7%
- Nifty 500
- -5.6%
- Nifty Consumer Durables
- -9.7%
- Vs Nifty 500
- +29.2 pp
Chart stats
19 Oct 2026- From 52W high
- -9.8%
- 52W range position
- 81%
- ATR (14)
- 4.3%
- Volume vs 20D
- 0.23x
- Avg traded value
- ₹602 Cr
- 20D price channel
- ₹211.8 - ₹245.5
₹254.4
₹125.6 - ₹254.4
₹9.9
Latest completed session
20-session average
59.2% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · OVERVALUED16
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good55
Revenue +48.3% · PAT NDF YoY
Technical
Bullish61
Price trend and sector-relative-strength timing.
Valuation
Legacy model—
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence54
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Good · 55/100Rev +48% YoY · margin expansion · +5% QoQ
Filed 23 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹3,713 Cr | +48.3% | +5.2% |
| EBITDA | ₹-225 Cr | +14.8% | +11.8% |
| Operating margin | -6.0% | +500 bps | +100 bps |
| PAT | ₹-133 Cr | NDF | NDF |
| PAT margin | -3.6% | +796 bps | +112 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- —
- P/B
- 23.93
- EV/EBITDA
- —
- Market Cap
- 106266.00Cr
Profitability
- ROE
- -46.20%
- ROCE
- -40.00%
- ROA
- -15.19%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 24.63%
- EPS 5Y
- —
- Revenue 3Y
- 30.00%
- EPS 3Y
- 6.00%
Balance Sheet
- Debt/Equity
- 0.01
- Interest Coverage
- -147.50×
- Altman Z
- 8.03
- Book Value
- 9.61
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 1/5
- OCF
- -3875.00 Cr
- EPS TTM
- -3.85
Shareholding
- Promoter Hold
- 16.34%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 81%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 3,713+5.2% vs prev
Net Profit
₹ CrLatest: -133+19.9% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 54. Wait for confirmation.
- Price > SMA20 > SMA50 > SMA200 — full bullish stack.
- SMA20 rising (~8.2% over last month) — short-term momentum positive.
- RSI(14) at 54 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 10% off 52W high · 83% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
91
RS percentile
Stage 2 UptrendEstablished S2
1M return
+7.1%
3M return
+23.7%
6M return
+28.8%
1Y return
-
RS 1D
+1
RS 20D
+3
Sector rank
#8
Industry rank
-
Stage evidence
- Price is 20.8% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +5.8%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 entered
14 Aug 2026
S2 age
45 trading sessions
Sector
neutral
Industry
unranked
Partial-history RS: the 3M and 6M weights are re-normalised because 12M history is unavailable.
Relative-strength line vs Nifty 500 (base 100)
212 observations
19 Oct 2026Value 143.35+2.09%
RS vs Nifty 500143
Valuation & peers
U-Score 16 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 16 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation2/30
Growth7/25
Quality0/20
Balance Sheet6/15
Cash Flow0/10
Piotroski
3/9 (+1)
Penalties
0
Raw sum
16
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
16/100 · legacy band OVERVALUED
Positive drivers
- Balance sheet contributes 6/15 to the score.
- Growth contributes 7/25 to the score.
- Valuation contributes 2/30 to the score.
Main drags
- Quality is weaker at 0/20; verify the latest quarterly trend.
- Cash flow is weaker at 0/10; verify the latest quarterly trend.
- Valuation is weaker at 2/30; verify the latest quarterly trend.
Sector valuation model
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Primary lens
PE and PEG relative to growth, ROE, margins, and brand strength.
Secondary checks
Volume growth, pricing power, distribution, same-store or category growth.
Main risk check
Premium valuation needs durable growth and margin resilience.
PE
—
PB
23.9
EV/EBITDA
—
ROE
-46.2%
ROCE
-40.0%
FCF Yield
—
Debt/Equity
0.0
MoS
—
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
16
Previous: 16
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
—
No stored baseline yet
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
15
15
15
16
16
16
16
16
16
16
16
16
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
—
Growth-justified P/E
14.1
Growth-justified Value
—
— MoS
PEG
—
Comparable companies
Peers
Business-comparable peers in Consumer — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
WOMANCART
SME
Womancart Ltd.
E-Commerce
match 57
56
9.5
8.3%
+62%
FAIR VALUE
NYKAA
Mid
FSN E-Commerce Ventures Limited
E-Commerce
match 53
47
364.0
15.3%
-1036%
FAIR VALUE
INDIAMART
Large
Indiamart Intermesh Limited
E-Commerce
match 43
65
19.7
20.7%
+51%
UNDERVALUED
FIRSTCRY
Small
Brainbees Solutions Limited
Retail
match 38
21
—
-2.4%
—
OVERVALUED
CBAZAAR
SME
Net Avenue Technologies Ltd.
IT Services / Digital
match 18
14
—
-36.3%
—
OVERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-16T07:28:50.062Z
Management commentary snapshot
Q4 FY26 results show strong margin improvement and user growth, driven by logistics optimization and AI-led customer acquisition, despite past one-off logistics disruptions.
Management successfully navigated past logistics disruptions, restoring contribution margins. Continued focus on value, rural customer acquisition via AI, and Meesho Mall expansion are key drivers. Sustained ad revenue growth and operating leverage are critical for future profitability.
Growth engines
Rural Customer Acquisition
Plan to invest more in acquiring rural customers over the next year, aided by AI tools like Vaani.
Meesho Mall Expansion
Scaling for affordable/value brands to reach mass India, offering access to national, regional, and D2C brands.
AI-led Innovations
Vaani voice agent and other algorithms reduce friction, improving ROI on marketing and lowering CAC.
Seller Activation on Ads
Focus on activating more sellers on ROAS-backwards ad product, with product advertising growing 40% Y-o-Y.
Capacity and execution
Valmo Sort Center Automation
Experimenting with automation in several sort centers within Valmo, with a goal to bring state-of-the-art automation in the next few years.
Tailwinds
Value Focus in Uncertain Macro
Consumers focus more on value during uncertain macro environments, benefiting value-focused companies.
High Inflationary Environments
Value-focused players tend to gain share when inflation goes higher as budgets are tighter for people.
Headwinds
Logistics Disruption
One-time logistics disruption in Q2 and Q3 FY26 due to 3PL consolidation and short-term capacity building at higher rates; now behind.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
Annual transacting user base growth is reported YoY, while contribution margin improvement and ad revenue uptake are discussed QoQ, indicating sequential momentum after past issues.
Sector KPIs management disclosed
Annual Transacting Users
Grew 33% Y-o-Y, indicating large growth opportunity as India's online transacting user base is low (30% of smartphone users).
Contribution Margin
Improved by 170 basis points QoQ, with Q4 exit rate at 4% after recovering from one-time logistics headwinds.
Customer Acquisition Cost (CAC)
Reduced due to technology investments, product improvements, and AI (Vaani voice agent) reducing friction for first orders.
Logistics Cost
Improving due to shift from cash on delivery (COD) to prepaid, increased ecosystem density, and Valmo innovations.
Management forward view
Marketing Investment Philosophy
Invests as long as investments meet a certain return threshold, not based on a specific advertising spend goal.
Ad Product Strategy
Focus is on activating more sellers with high ROAS; pricing will be taken up at the right time for steady-state ad revenue.
Operating Leverage
Expects operating leverage from technology/infrastructure and people costs, which will not grow at the same rate as NMV.
Logistics Cost Reduction
Will keep reducing long-term cost to serve a customer, passing efficiencies to consumers as lower pricing to strengthen value proposition.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Contribution Margin | 4% (Q4 exit rate) | Sustained improvement from ad revenue growth and fulfillment margin restoration. |
| Ad Revenue Growth | Uptake QoQ, 40% Y-o-Y product advertising growth | Continued activation of sellers and eventual pricing power. |
| Free Cash Flow (FCF) | LTM FCF is guiding line item, quarterly FCF should keep improving | Trajectory towards FCF positive, smoothing out quarterly volatility. |
| New User Acquisition | Annual transacting user base grew 33% Y-o-Y | Aggressive acquisition of new users, especially rural, while maintaining attractive ROI. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
54Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 13th percentile of the scored universe and 16th percentile within Consumer. Main check: cash conversion is weak at 28/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 20 Oct 2026
management-trust-v1
34 docs text-extracted · 5 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
13th percentile
overall median 67 · Consumer: 16th pctile, median 66 · Small: 15th pctile, median 66
Evidence depth
Financial-only
34 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Needs extra due diligence; demand valuation comfort and recent improvement.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
66
acceptable · holding, pledge, alignment
Cash flow
28
weak · profit to cash conversion
Balance sheet
88
strong · leverage and solvency
Discipline
40
weak · capital discipline
Results
55
watch · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸Debt/equity is 0.01.
Trust risks
- ▸Operating cash flow is negative at ₹-3875 Cr.
- ▸Promoter holding is only 16.3%.
- ▸Only 1 years of positive FCF.
- ▸ROCE is low at -40%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Meesho Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Updates on Acquisition 6 Oct - Board approved up to ₹50 crore investment in RPLPL; total acquisition consideration remains ₹202.08 crore.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 6 Oct - Meesho reports Content Commerce NMV up 152% YoY, with 1.6 lakh creators and 4 lakh sellers.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 29 Sep - Intimation w.r.t allotment of equity shares pursuant to exercise of ESOP
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 23 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 21 Sep - Intimation w.r.t allotment of equity shares pursuant to exercise of ESOP
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 12 Sep - Newspaper publication w.r.t corrigendum to the AGM Notice of the Company.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Amendments to Memorandum & Articles of Association 11 Sep - Meesho issues AGM corrigendum revising Article 122; withdraws significant investor rights, retains founder and lender nomination rights.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 10 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 23 Aug - Intimation w.r.t allotment of equity shares pursuant to exercise of ESOP
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 21 Aug - Newspaper Publication of public notice before dispatch of the Notice of 11th Annual General Meeting (''AGM'') of the Company.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 12 Aug
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.