Integrated Filing — IndAS



General information about company

Scrip Code 544632
NSE Symbol MEESHO
MSEI Symbol NOTLISTED
ISIN INE0VDM01015
Name of company Meesho Limited
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2026
Date of end of financial year 31-03-2027
Date of board meeting when results were approved 28-10-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 14-10-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Second quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Unaudited
Segment Reporting Multi segment
Description of single segment
Start date and time of board meeting 28-10-2026   15:30:00
End date and time of board meeting 28-10-2026   16:20:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2026 01-04-2026
B Date of end of reporting period 30-09-2026 30-09-2026
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 4,13,158.20 7,84,439.30
Other income 12,742.00 24,101.20
Total income 4,25,900.20 8,08,540.50
2 Expenses
(a) Cost of materials consumed 0.00 0.00
(b) Purchases of stock-in-trade 0.00 0.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 0.00 0.00
(d) Employee benefit expense 28,088.30 52,396.00
(e) Finance costs 137.80 350.40
(f) Depreciation, depletion and amortisation expense 2,014.50 3,980.10
(f) Other Expenses
1 Other expenses 4,07,986.10 7,77,424.00
Total other expenses 4,07,986.10 7,77,424.00
Total expenses 4,38,226.70 8,34,150.50
3 Total profit before exceptional items and tax (12,326.50) (25,610.00)
4 Exceptional items 0.00 0.00
5 Total profit before tax (12,326.50) (25,610.00)
6 Tax expense
7 Current tax 918.10 918.10
8 Deferred tax 0.00 0.00
9 Total tax expenses 918.10 918.10
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations (13,244.60) (26,528.10)
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period (13,244.60) (26,528.10)
17 Other comprehensive income net of taxes 1,414.90 (764.70)
18 Total Comprehensive Income for the period (11,829.70) (27,292.80)
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent (13,244.60) (26,528.10)
Total profit or loss, attributable to non-controlling interests 0.00 0.00
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 1,414.90 (764.70)
Total comprehensive income for the period attributable to owners of parent non-controlling interests 0.00 0.00
21 Details of equity share capital
Paid-up equity share capital 46,285.30 46,285.30
Face value of equity share capital 1 1
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations -0.28 -0.54
Diluted earnings (loss) per share from continuing operations -0.28 -0.54
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations -0.28 -0.54
Diluted earnings (loss) per share from continuing and discontinued operations -0.28 -0.54
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) Notes to the Unaudited Consolidated Financial Results for the quarter and six month period ended September 30, 2026 1.The above Unaudited Consolidated Financial Results of Meesho Limited (the 'Holding Company’/ the ‘Company’) (formerly known as Meesho Private Limited/ Fashnear Technologies Private Limited) together with its subsidiaries (collectively the “Group”) have been prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards as prescribed under Section 133 of the Companies Act, 2013, as amended, read with the Companies (Indian Accounting Standards Rules), 2015, as amended and other accounting principles generally accepted in India and in terms of Regulation 33 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015 (‘SEBI LODR’), as amended (“Listing Regulations”). These consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on October 28, 2026. 2.The figures for the quarter ended September 30, 2025 are the derived balancing figure between audited figures in respect of the six month period ended September 30, 2025 and the audited figures for the quarter ended June 30, 2025. 3.The Board of Directors of the Holding Company, at its meeting held on March 31, 2026, approved an internal reorganization involving certain operational functions, employee transfers, and contractual arrangements among the Holding Company and its wholly owned subsidiaries, namely Valmo Transportation Private Limited and Meesho Technologies Private Limited. Pursuant to this reorganization, the Holding Company and its subsidiaries (collectively referred to as the Group) are housing their logistics business across different entities in the Group to enhance administrative efficiency and streamline operations. This reorganization will also enable better functional specialization and more focused management of the logistics business. As the aforesaid reorganization is among the entities within the Group, it has no material impact on the unaudited consolidated financial results of the Group for the quarter ended and six month period ended September 30, 2026. 4.During the year ended March 31, 2025, the Board of Directors of the Holding Company, its wholly owned subsidiaries Meesho Grocery Private Limited (‘MGPL’), Meesho Technologies Private Limited (‘MTPL’) and Meesho Inc. (erstwhile Holding Company) (hereinafter referred to as “Transferor Company”) approved the Composite Scheme of Arrangement between the Holding Company, MGPL, MTPL, Transferor Company and their respective shareholders and creditors (hereinafter referred to as “the Scheme”) in accordance with the provisions of Sections 230 to 232 of the Act which was filed with National Company Law Tribunal, Bengaluru Bench (‘NCLT’) on April 25, 2024 for a) transfer of Grocery business of the Holding Company to MGPL; b) transfer of Marketplace business of the Holding Company to MTPL; and c) amalgamation by way of transfer of assets and liabilities of the Transferor Company with the Holding Company. The aforesaid Scheme was approved by an order passed by NCLT on May 27, 2025. During the year ended March 31, 2025, the Holding Company had provided for taxes towards Global Intangible Low-Taxed Income, business combination and passive income collectively referred to as Tax payable on account of business combination arising on account of the aforesaid business combination. The incremental charge recorded during the quarter ended September 30, 2025 and six month period ended September 30, 2025 and year ended March 31, 2026 was on account of foreign exchange fluctuations and finalisation of the tax obligations. 5.During the year ended March 31, 2026, the Holding Company has completed its Initial Public Offering (IPO) of 488,396,721 equity shares of face value of Re. 1 each at an issue price of Rs. 111 per share (including a share premium of Rs. 110 per share). The issue consisted of a fresh issue of 382,882,882 equity shares aggregating to Rs. 42,500.00 million and an offer for sale of 105,513,839 equity shares by selling shareholders aggregating to Rs. 11,712.04 million. The Holding Company’s equity shares were listed on National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) on December 10, 2025. 6.During the quarter and six month period ended September 30, 2026: a. The Holding Company has allotted 19,860,078 equity shares during the quarter ended September 30,2026 and 64,465,733 equity shares during the six month period ended September 30,2026 having a face value of Re. 1/- each upon exercise of vested options under the Company’s Employee Stock Option Plan, 2024. b. Pursuant to the Board resolution dated May 06, 2026, the Holding Company has made an additional investment of Rs. 999.99 million in Meesho Payments Private Limited, a wholly owned subsidiary, by way of subscription to rights issue of 3,058,103 equity shares of face value of Re. 1 each at an issue price of Rs. 327 per equity share (including securities premium of Rs. 326 per equity share). The aforesaid investment has been made to facilitate the operational growth and financial requirements of its wholly owned subsidiary. c. Pursuant to the Board resolution dated July 23, 2026, the Holding Company has made an additional investment of Rs. 749.99 million in Meesho Grocery Private Limited, a wholly owned subsidiary, by way of subscription to rights issue of 71,022,727 equity shares of face value of Re. 10 each at an issue price of Rs. 10.56 per equity share (including securities premium of Rs. 0.56 per equity share). The aforesaid investment has been made to facilitate the operational growth and financial requirements of its wholly owned subsidiary. d. On June 12, 2026, the Holding Company has entered into a Share Purchase Agreement with certain identified selling shareholders to acquire the below stake for an aggregate consideration amounting to Rs. 2,020.85 million: i. 100% stake of Kirana Club Pte. Ltd., (“Kirana Club”) a company incorporated under the laws of Singapore; and ii. 0.41% stake of Retail Pulse Labs Private Limited (“RPLPL”), a company incorporated in India, and an existing subsidiary of Kirana Club. The aforesaid consideration is payable in two tranches, subject to the satisfaction of the specified conditions precedent applicable for each tranche. The acquisition is expected to be completed during the quarter ended December 31, 2026. 7. Exceptional items: (a) Expenses towards business combination - Quarter ended 30 September 2025: INR 63.53 million, six months ended 30 September 2025: INR 987.58 million and Year ended 31 March 2026: INR 1,024.68 miilion. (b) Full and final settlement in respect of vendor dispute- Quarter ended 30 Sep 2025: INR 386.23 million, six months ended 30 Sep 2025- INR 386.23 million and year ended 31 March 2026: INR 386.23 million. 8.During the year ended March 31, 2026, the Income Tax Authorities made certain additions to the taxable income declared for AY 2023-24. Consequently, a demand of Rs. 14,997.38 million was raised, along with a show-cause notice for initiation of penalty proceedings under Sections 274 and 270A of the Income-tax Act, 1961. During the six month period ended September 30, 2026, the Holding Company filed a rectification request against the assessment order with the Deputy Commissioner of Income Tax and has also filed an appeal before the National Faceless Appeal Centre, Delhi (NFAC). A similar demand order of Rs. 5,720.69 million was issued for AY 2022-23 on which an interim stay has been granted by the Hon’ble High Court of Karnataka and the matter is currently pending. Based on independent tax and legal advice, the management is confident of the favorable outcome upon conclusion of the proceedings. 9.The above unaudited consolidated financial results for the quarter ended and six month period ended September 30, 2026 are available on the Company’s website (www.meesho.com) and also on the website of BSE (www.bseindia.com) and NSE (www.nseindia.com), where the shares of the Company are listed.



Remarks

Debt equity ratio The Group has no debt and interest on borrowings and accordingly, debt equity ratio, debt service coverage ratio and interest service coverage ratio are not presented.
Debt service coverage ratio The Group has no debt and interest on borrowings and accordingly, debt equity ratio, debt service coverage ratio and interest service coverage ratio are not presented.
Interest service coverage ratio The Group has no debt and interest on borrowings and accordingly, debt equity ratio, debt service coverage ratio and interest service coverage ratio are not presented.


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2026
Date of end of reporting period 30-09-2026
Whether results are audited or unaudited Unaudited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 6,378.20
Capital work-in-progress 0.00
Investment property 0.00
Goodwill 0.00
Other intangible assets 5,848.80
Intangible assets under development 0.00
Biological assets other than bearer plants 0.00
Investments accounted for using equity method 0.00
Non-current financial assets
Non-current investments 43,499.60
Trade receivables, non-current 0.00
Loans, non-current 0.00
Other non-current financial assets
1 Other financial assets 1,35,786.90
Total of other non-current financial assets 1,35,786.90
Total non-current financial assets 1,79,286.50
Deferred tax assets (net) 0.00
Other non-current assets
1 Right-of-use assets 4,435.00
2 Income tax assets (net) 27,362.50
Total of other non-current assets 31,797.50
Total non-current assets 2,23,311.00
2 Current assets
Inventories 0.00
Current financial asset
Current investments 2,40,755.80
Trade receivables, current 1,079.20
Cash and cash equivalents 12,877.80
Bank balance other than cash and cash equivalents 45,915.60
Loans, current 363.40
Other current financial assets
Total of other current financial assets 2,63,842.50
Total current financial assets 5,64,834.30
Current tax assets (net) 0.00
Other current assets
1 Other current assets 12,022.30
Total of other current assets 12,022.30
Total current assets 5,76,856.60
3 Non-current assets classified as held for sale 0.00
4 Regulatory deferral account debit balances and related deferred tax Assets 0.00
Total assets 8,00,167.60
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 46,285.30
Other equity 3,74,311.30
Total equity attributable to owners of parent 4,20,596.60
Non controlling interest
Total equity 4,20,596.60
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 0.00
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities
1 Lease liabilities 1,961.00
Total of other non-current financial liabilities 1,961.00
Total non-current financial liabilities 1,961.00
Provisions, non-current 2,788.80
Deferred tax liabilities (net) 0.00
Deferred government grants, Non-current 0.00
Other non-current liabilities
Total of other non-current liabilities
Total non-current liabilities 4,749.80
Current liabilities
Current financial liabilities
Borrowings, current 0.00
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 7,467.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 1,84,359.50
Total Trade payable 1,91,826.50
Other current financial liabilities
1 Other financial liabilities 1,67,914.50
2 Lease liabilities 2,921.90
Total of other current financial liabilities 1,70,836.40
Total current financial liabilities 3,62,662.90
Other current liabilities 10,677.70
1 Other current liabilities 9,759.60
2 Provision for tax 918.10
Total of other current liabilities 10,677.70
Provisions, current 1,480.60
Current tax liabilities (Net) 0.00
Deferred government grants, Current 0.00
Total current liabilities 3,74,821.20
3 Liabilities directly associated with assets in disposal group classified as held for sale 0.00
4 Regulatory deferral account credit balances and related deferred tax liability 0.00
Total liabilities 3,79,571.00
Total equity and liabilites 8,00,167.60
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-07-2026 01-04-2026
Date of end of reporting period 30-09-2026 30-09-2026
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
1 Marketplace 4,11,989.40 7,82,698.90
2 New Initiatives 1,168.80 1,740.40
Total Segment Revenue 4,13,158.20 7,84,439.30
Less: Inter segment revenue 0.00 0.00
Revenue from operations 4,13,158.20 7,84,439.30
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Marketplace (13,049.10) (26,941.20)
2 New Initiatives (4,162.80) (8,092.60)
Total Profit before tax (17,211.90) (35,033.80)
i. Finance cost 137.80 350.40
ii. Other Unallocable Expenditure net off Unallocable income (5,023.20) (9,774.20)
Profit before tax (12,326.50) (25,610.00)
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 Marketplace 0.00 0.00
2 New Initiatives 0.00 0.00
Total Segment Asset 0.00 0.00
Un-allocable Assets 0.00 0.00
Net Segment Asset 0.00 0.00
4 Segment Liabilities
Segment Liabilities
1 Marketplace 0.00 0.00
2 New Initiatives 0.00 0.00
Total Segment Liabilities 0.00 0.00
Un-allocable Liabilities 0.00 0.00
Net Segment Liabilities 0.00 0.00
Disclosure of notes on segments Textual Information(2)



Text Block

Textual Information(2) The Group has identified two operational segments in terms of Ind AS 108, Operating Segments namely Marketplace and New initiatives. The principal activities in each of the segment are as below: (i) Marketplace - Marketplace for sellers and buyers, Display of Ads, Logistics business and Content commerce; and (ii) New Initiatives - Low-cost local logistics network for daily essentials, Digital financial services and AI services. Further, the CODM does not review segment assets and liabilities as part of its resource allocation decisions and hence the same has not been disclosed in these results.



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2026 01-04-2026
B Date of end of reporting period 30-09-2026 30-09-2026
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Re-measurement (loss)/gains on defined employee benefit plans 118.50 239.80
Total Amount of items that will not be reclassified to profit and loss 118.50 239.80
2 Income tax relating to items that will not be reclassified to profit or loss 0.00 0.00
3 Amount of items that will be reclassified to profit and loss
1 Net change in fair value of forward contracts designated as cash flow hedges 1,296.40 (1,004.50)
Total Amount of items that will be reclassified to profit and loss 1,296.40 (1,004.50)
4 Income tax relating to items that will be reclassified to profit or loss 0.00 0.00
5 Total Other comprehensive income 1,414.90 (764.70)



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2026
B Date of end of reporting period 30-09-2026
C Whether results are audited or unaudited Unaudited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax (25,610.00)
Adjustments for reconcile profit (loss)
Adjustments for finance costs 350.40
Adjustments for decrease (increase) in inventories 0.00
Adjustments for decrease (increase) in trade receivables, current 1,168.10
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets (5,559.00)
Adjustments for decrease (increase) in other non-current assets 0.00
Adjustments for other financial assets, non-current 0.00
Adjustments for other financial assets, current (16,617.60)
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current 35,455.70
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities (35,839.50)
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 3,980.10
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 3,299.00
Adjustments for provisions, current 0.00
Adjustments for provisions, non-current 0.00
Adjustments for other financial liabilities, current 28,267.20
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains 0.00
Adjustments for dividend income 0.00
Adjustments for interest income 19,011.10
Adjustments for share-based payments 8,880.90
Adjustments for fair value losses (gains) (568.60)
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow (3,345.90)
Other adjustments to reconcile profit (loss) 0.00
Other adjustments for non-cash items 1,907.60
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) 2,367.30
Net cash flows from (used in) operations (23,242.70)
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 4,719.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities (27,961.70)
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 65.70
Purchase of property, plant and equipment 2,664.60
Proceeds from sales of investment property 0.00
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 0.00
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 0.00
Interest received 18,702.20
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash (34,845.90)
Net cash flows from (used in) investing activities (18,742.60)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 13.20
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 0.00
Repayments of borrowings 0.00
Payments of lease liabilities 2,468.30
Dividends paid 0.00
Interest paid 0.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) financing activities (2,455.10)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes (49,159.40)
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0.00
Net increase (decrease) in cash and cash equivalents (49,159.40)
Cash and cash equivalents cash flow statement at beginning of period 62,037.20
Cash and cash equivalents cash flow statement at end of period 12,877.80