Meesho shares slip 0.5% post-results; analysts split on valuation

SENSEX 73,684.90

+ 438.87

NIFTY 22,839.40

+ 140.55

CRUDEOIL 9,709.00

 -89.00

GOLD 143,501.00

 -204.00

SILVER 192,353.00

 -1,972.00

SENSEX 73,684.90

+ 438.87

NIFTY 22,839.40

+ 140.55

NIFTY 22,839.40

+ 140.55

CRUDEOIL 9,709.00

 -89.00

CRUDEOIL 9,709.00

 -89.00

GOLD 143,501.00

 -204.00

'; } document.getElementById("lgdv").innerHTML = htmlElements; } function numberformat(i) { return Number(parseFloat(i).toFixed(2)).toLocaleString('en', { minimumFractionDigits: 2 }) } async function gatherResponse(response) { const { headers } = response; const contentType = headers.get('content-type') || ''; if (contentType.includes('application/json')) { return await response.json() } return response.text(); } function getWidth() { if (Math.max(document.body.scrollWidth,document.documentElement.scrollWidth,document.body.offsetWidth,document.documentElement.offsetWidth,document.documentElement.clientWidth) > 991) { document.getElementById("mob").style.display = "none"; document.getElementById("lgdv").style.display = "block"; } else { document.getElementById("mob").style.display = "block"; document.getElementById("lgdv").style.display = "none"; } } getWidth(); THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS.THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS.

The stock opened sharply lower at ₹222 before recovering to a day’s high of ₹232.50.

By Anupama Ghosh

Updated - October 29, 2026 at 12:58 PM.

Shares of Meesho Limited were trading at ₹226.70 on Thursday afternoon, down 0.50 per cent from Wednesday’s close of ₹227.84, even as the e-commerce company reported a strong narrowing of net losses in its Q2 FY27 earnings released on October 28. The stock opened sharply lower at ₹222 before recovering to a day’s high of ₹232.50. Sell-side order flow remained skewed, with 77 per cent of pending orders on the sell side against 23 per cent on the buy side. Around 89 lakh shares changed hands, worth ₹203 crore, by early afternoon. The stock has run up nearly 25 per cent year-to-date but remains below its 52-week high of ₹254.40 hit in December 2025.

Analyst opinion following the results is divided. Motilal Oswal and Choice Institutional both maintained Buy ratings with a target price of ₹265, citing logistics-driven margin expansion and the long-term growth runway. Elara Securities retained an Accumulate with a target of ₹270, flagging that sustained profitability improvement, rather than one-off efficiency gains, will be the key re-rating trigger. JM Financial stood out with a lone Sell call, keeping its target at ₹185 and arguing that the stock trades at 60x its FY29 adjusted EBITDA estimate, one of the richest multiples in internet coverage, leaving little room for execution misses.

The divergence stems from Meesho’s own guidance that the 6 per cent contribution margin recorded in Q2 may not hold in coming quarters, as the company plans to reinvest logistics savings into seller and consumer subsidies ahead of the festive season.

On the results themselves: net losses narrowed approximately 68 per cent year-on-year to ₹132 crore, while Net Merchandise Value grew 23 per cent to ₹12,911 crore. On a festival-aligned basis, adjusting for the Mega Blockbuster Sale shifting to Q3 this year, NMV growth was 33 per cent. Quarterly free cash flow turned positive at ₹345 crore, supported by seasonal working capital. The company held a cash balance of ₹7,048 crore as of September 30.

Published on October 29, 2026

THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS. THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS. THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS. THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS.Sign into Unlock benefits!

• Access 10 free stories per month
• Get notified by email for early preview to new features, discounts & offers