Conference Call with Meesho Management and Analysts on Q4FY26 & Full Year Performance and Outlook. Listen to the full earnings transcript.
Internet & Catalogue Retail company Meesho announced Q4FY26 & FY26 results Consolidated Financial Highlights: Revenue from Operations: In Q4FY26, revenue stood at Rs 35,312.12 million, representing a YoY increase of 47.13% from Rs 23,999.75 million in Q4FY25 and a QoQ growth of 0.39% from Rs 35,175.98 million in Q3FY26. Total Income: For the quarter ended March 31, 2026, total income reached Rs 36,469.82 million, marking a YoY growth of 44.34% compared to Rs 25,266.18 million in Q4FY25 and a QoQ increase of 1.41% from Rs 35,964.14 million in Q3FY26. Net Loss: Consolidated net loss for Q4FY26 narrowed significantly to Rs 1,663.45 million, compared to a loss of Rs 13,913.81 million in Q4FY25 (YoY) and a loss of Rs 4,906.75 million in Q3FY26 (QoQ). Annual Revenue: For the full year FY26, revenue from operations was Rs 1,26,263.48 million, a 34.47% YoY growth compared to Rs 93,899.03 million in FY25. Annual Total Income: Consolidated total income for FY26 stood at Rs 1,30,990.61 million, increasing by 32.30% YoY from Rs 99,009.01 million in FY25. Annual Net Loss: The net loss for the full year FY26 narrowed to Rs 13,577.38 million from Rs 39,417.05 million in FY25. Loss Per Share: Basic and diluted loss per share for Q4FY26 improved to Rs 0.36 compared to Rs 3.39 in Q4FY25. For FY26, it improved to Rs 3.11 from Rs 9.98 in the previous year. Standalone Financial Highlights: Note on Comparability: Standalone results for FY26 are not directly comparable to FY25 due to the implementation of a composite scheme of arrangement involving the transfer of marketplace and grocery businesses to subsidiaries. Revenue from Operations: Standalone revenue for Q4FY26 was Rs 13,790.25 million, a decline of 42.52% YoY from Rs 23,992.51 million and a decrease of 12.66% QoQ from Rs 15,788.85 million. Total Income: For Q4FY26, standalone total income was Rs 17,526.50 million compared to Rs 25,265.37 million in Q4FY25 and Rs 23,846.56 million in Q3FY26. Net Profit: Standalone net profit for Q4FY26 stood at Rs 3,196.32 million, showing a turnaround from a loss of Rs 13,836.12 million in Q4FY25. However, it decreased by 56.43% QoQ from Rs 7,335.34 million in Q3FY26. Annual Revenue: For FY26, standalone revenue from operations was Rs 63,809.23 million, a 31.52% YoY decrease from Rs 93,175.47 million in FY25. Annual Net Profit: The standalone net profit for the full year FY26 reached Rs 2,73,311.18 million, primarily driven by a one-time exceptional gain on demerger amounting to Rs 2,64,790.20 million. This marks a turnaround from a standalone net loss of Rs 38,333.93 million in FY25. Business Highlights: Segment Performance (Marketplace): This segment (including marketplace for sellers/buyers, ads, and logistics) recorded revenue of Rs 35,251.06 million in Q4FY26 and Rs 1,26,141.81 million for the full year FY26. It reported a segment loss of Rs 1,984.13 million in Q4FY26 and Rs 11,778.27 million in FY26. Segment Performance (New Initiatives): This segment (including local logistics for essentials, digital financial services, and AI services) recorded revenue of Rs 61.06 million in Q4FY26 and Rs 121.67 million for FY26. It reported a segment loss of Rs 207.34 million in Q4FY26 and Rs 702.39 million in FY26. Composite Scheme of Arrangement: The NCLT approved the scheme on May 27, 2025, which led to the transfer of the Grocery business to Meesho Grocery Private Limited and the Marketplace business to Meesho Technologies Private Limited. IPO Completion: The company successfully completed its Initial Public Offering (IPO) in December 2025, raising Rs 42,500.00 million through a fresh issue at an issue price of Rs 111 per share. Its shares were listed on December 10, 2025. Investment in Subsidiary: The Board approved a further investment in Meesho Payments Private Limited (MPPL) for an aggregate amount not exceeding Rs 100 crore to support its operations and growth as a Lending Service Provider (LSP). Bonus Issue: The company approved a bonus issue of equity shares in the ratio of 47.2509 shares for every 1 share held as of May 31, 2025. Internal Reorganization: In March 2026, the Board approved an internal reorganization to house the logistics business under different entities to enhance administrative efficiency and functional specialization. Vidit Aatrey, Founder & CEO, Meesho, said: “FY26 has deepened our conviction that the Indian e-commerce market has far more depth than most people assume. In emerging markets like China, Southeast Asia, and Latin America, more than 80% of smartphone users shop online. In India, that number is around 30%, not because Indians don't want to shop online, but because nobody built e-commerce that actually works for them. Every time we removed one of those barriers, the market got larger. That pattern has held for a decade. What AI has changed is the pace at which we can now remove them. Today, more than 75% of orders on Meesho come from personalized feeds that infer what a user is looking for before they even type a query. Vaani, our voice shopping agent, lets a user describe what they want in their own language and complete a purchase through conversation. GeoIndia decodes the landmarkbased, vernacular addresses that conventional systems cannot parse. The result is that first-time buyers who had never placed an order online are now completing purchases on Meesho. We are still early in this journey, but the direction is clear: as accessibility improves, the market continues to widen, and we are building the technology infrastructure to drive that expansion.” Result PDF