Meesho announced robust financial results for Q2 FY27, with Net Monetary Value (NMV) growing 23% YoY to ₹12,911 crore. Annual Transacting Users reached 284 million. The company reported a 68% YoY reduction in net losses, narrowing them to ₹132 crore, supported by increased Contribution Margin to 6.0% and strong operational efficiencies, including a 171% increase in engineering productivity.
Meesho Reports Strong Q2 FY27 Performance
Bengaluru, October 28, 2026 – Meesho, India’s prominent e-commerce platform, today announced its financial results for the second quarter of fiscal year 2027 (Q2 FY27), ended September 30, 2026. The company achieved significant growth in its core metrics, demonstrating the strength of its operating model.
Key Financial Highlights
Net Monetary Value (NMV) saw a substantial increase of 23% year-on-year (YoY), reaching ₹12,911 crore. This growth was complemented by a rise in Annual Transacting Users to 284 million. The platform also experienced a 16% quarter-on-quarter (QoQ) increase in first-time buyers, indicating an expanding consumer base. Festive-aligned NMV grew by 33% YoY, reflecting strong seasonal demand.
The company reported a significant improvement in its bottom line, with net losses narrowing by approximately 68% YoY to ₹132 crore for the quarter, compared to ₹411 crore in Q2 FY26. This enhanced profitability is attributed to a stronger Contribution Margin, which expanded to 6.0% of NMV, up from 4.6% in the previous quarter. This improvement was driven by logistics efficiencies and enhanced platform monetization.
Operational Efficiencies and Growth Drivers
Meesho highlighted considerable advancements in operational efficiencies, particularly in its adoption of AI-first engineering. Engineering productivity increased by an impressive 171% between March and September 2026. AI-powered development has reduced feature development timelines from weeks to days, with code approval times declining by 41%.
Meesho Mall, now home to approximately 1,800 brands, recorded an 81% YoY NMV growth, with significant traction in Tier 3+ cities. Content Commerce also scaled dramatically, with NMV growing 160% YoY.
The platform also saw robust growth in its seller ecosystem, with Annual Transacting Sellers increasing 60% YoY to 1.13 million. Marketplace revenue from operations grew 34% YoY to ₹4,120 crore.
Financial Discipline and Future Outlook
The company generated ₹345 crore in quarterly free cash flow. As of September 30, 2026, Meesho maintained a healthy cash balance of ₹7,048 crore, ensuring financial flexibility to pursue long-term growth opportunities while maintaining discipline.
Source: BSE
