India · Delayed Price · Currency is INR Meesho Earnings Call Transcripts
Fiscal Year 2027
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Logistics costs declined despite inflation, with efficiency gains and stable Valmo share. Meesho Mall outpaced core growth, and new initiatives like Kirana Club and low-cost logistics are in early stages. AI-driven improvements and a 25% NMV CAGR target support long-term growth.
Fiscal Year 2026
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Annual transacting users grew 33% year-over-year, with strong gains in contribution margin and ad revenue. Logistics cost optimization and rural expansion drove performance, while Meesho Mall and ad products saw robust adoption.
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Annual transacting users grew 34% to 251 million and seller base rose 81% to 846,000, with NMV up 26% year-over-year. Margins were temporarily impacted by rapid logistics expansion, but are expected to recover as costs normalize and operating leverage improves.