5446322026-07-012026-09-305446322026-09-305446322026-03-315446322026-04-012026-09-305446322026-07-012026-09-30in-capmkt:OtherExpenses1Member5446322026-04-012026-09-30in-capmkt:OtherExpenses1Member5446322026-09-30OtherNoncurrentFinancialAssetsDomain15446322026-09-30OtherNoncurrentAssetsDomain15446322026-09-30OtherNoncurrentAssetsDomain25446322026-09-30OtherCurrentFinancialAssetsDomain15446322026-09-30OtherCurrentAssetsDomain15446322026-09-30OtherNoncurrentFinancialLiabilitiesDomain15446322026-09-30OtherCurrentFinancialLiabilitiesDomain15446322026-09-30OtherCurrentFinancialLiabilitiesDomain25446322026-09-30OtherCurrentLiabilitiesDomain15446322026-09-30OtherCurrentLiabilitiesDomain25446322026-07-012026-09-30in-capmkt:ReportableSegments1Member5446322026-07-012026-09-30in-capmkt:ReportableSegments2Member5446322026-04-012026-09-30in-capmkt:ReportableSegments1Member5446322026-04-012026-09-30in-capmkt:ReportableSegments2Member5446322026-07-012026-09-30in-capmkt:ReportableSegments1Member5446322026-07-012026-09-30in-capmkt:ReportableSegments2Member5446322026-04-012026-09-30in-capmkt:ReportableSegments1Member5446322026-04-012026-09-30in-capmkt:ReportableSegments2Member5446322026-07-012026-09-30in-capmkt:ReportableSegments1Member5446322026-09-30in-capmkt:ReportableSegments1Member5446322026-07-012026-09-30in-capmkt:ReportableSegments2Member5446322026-09-30in-capmkt:ReportableSegments2Member5446322026-07-012026-09-30in-capmkt:ReportableSegments1Member5446322026-09-30in-capmkt:ReportableSegments1Member5446322026-07-012026-09-30in-capmkt:ReportableSegments2Member5446322026-09-30in-capmkt:ReportableSegments2Member5446322026-07-012026-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss15446322026-04-012026-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss15446322026-07-012026-09-30ItemsThatWillBeReclassifiedToProfitAndLoss15446322026-04-012026-09-30ItemsThatWillBeReclassifiedToProfitAndLoss1iso4217:INRiso4217:INRxbrli:shares544632MEESHONOTLISTEDINE0VDM01015Meesho LimitedMain BoardEquity2026-04-012027-03-312026-10-282026-10-14INRMillionsQuarterlySecond quarterMulti segment2026-10-2815:30:002026-10-2816:20:00trueCash Flow IndirectNot applicable2026-07-012026-09-30UnauditedConsolidated413158200001274200000425900200000002808830000137800002014500004079861000043822670000-12326500000-1232650000918100000918100000-13244600000000-1324460000141490000-1182970000-13244600000141490000046285300001-0.28-0.2800-0.28-0.28Notes to the Unaudited Consolidated Financial Results for the quarter and six month period ended September 30, 2026 <br /> <br /> 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”). <br /> <br /> 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. <br /> <br /> 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. <br /> <br /> 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. <br /> <br /> 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. <br /> <br /> 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 <br /> <br /> a) transfer of Grocery business of the Holding Company to MGPL; <br /> b) transfer of Marketplace business of the Holding Company to MTPL; and <br /> c) amalgamation by way of transfer of assets and liabilities of the Transferor Company with the Holding Company. <br /> <br /> The aforesaid Scheme was approved by an order passed by NCLT on May 27, 2025. <br /> <br /> 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. <br /> <br /> 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. <br /> <br /> 6.During the quarter and six month period ended September 30, 2026: <br /> <br /> 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. <br /> <br /> 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. <br /> <br /> 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. <br /> <br /> 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: <br /> i. 100% stake of Kirana Club Pte. Ltd., (“Kirana Club”) a company incorporated under the laws of Singapore; and <br /> ii. 0.41% stake of Retail Pulse Labs Private Limited (“RPLPL”), a company incorporated in India, and an existing subsidiary of Kirana Club. <br /> <br /> The aforesaid consideration is payable in two tranches, subject to the satisfaction of the specified conditions precedent applicable for each tranche. <br /> <br /> The acquisition is expected to be completed during the quarter ended December 31, 2026. <br /> <br /> 7. Exceptional items: <br /> (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. <br /> (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. <br /> <br /> 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. <br /> <br /> 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. <br /> 2026-04-012026-09-30UnauditedConsolidated784439300002410120000808540500000005239600000350400003980100007774240000083415050000-25610000000-2561000000918100000918100000-26528100000000-2652810000-76470000-2729280000-26528100000-76470000046285300001-0.54-0.5400-0.54-0.54The 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.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.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.Other expenses40798610000Other expenses77742400000637820000000584880000000434996000000135786900001792865000003179750000223311000000240755800001079200001287780000459156000036340000263842500005648343000001202230000576856600000080016760000462853000037431130000420596600004205966000000001961000001961000002788800000047498000007467000001843595000019182650000170836400003626629000010677700001480600000037482120000003795710000080016760000Other financial assets13578690000Right-of-use assets443500000Income tax assets (net)2736250000Other financial assets26384250000Other current assets1202230000Lease liabilities196100000Other financial liabilities16791450000Lease liabilities292190000Other current liabilities975960000Provision for tax91810000Marketplace41198940000New Initiatives116880000Marketplace78269890000New Initiatives1740400004131582000078443930000004131582000078443930000Marketplace-1304910000New Initiatives-416280000Marketplace-2694120000New Initiatives-809260000-1721190000-35033800001378000035040000-502320000-977420000-1232650000-2561000000Marketplace0New Initiatives0000Marketplace0New Initiatives0000The 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: <br /> (i) Marketplace - Marketplace for sellers and buyers, Display of Ads, Logistics business and Content commerce; and <br /> (ii) New Initiatives - Low-cost local logistics network for daily essentials, Digital financial services and AI services. <br /> 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.3504000001168100000-55590000000-1661760000035455700000-358395000003980100003299000000028267200000001901110000888090000-568600000-33459000001907600000236730000-23242700000004719000000-279617000000000000657000026646000000000000000000000018702200000-3484590000-187426000000132000000000002468300000000-245510000-49159400000-491594000062037200001287780000Re-measurement (loss)/gains on defined employee benefit plans1185000011850000Re-measurement (loss)/gains on defined employee benefit plans239800002398000000Net change in fair value of forward contracts designated as cash flow hedges129640000129640000Net change in fair value of forward contracts designated as cash flow hedges-100450000-10045000000141490000-76470000