Meesho Q1 FY27 Results: Marketplace Revenue Rises 48%

Meesho Q1 FY27 results showed continued expansion of the marketplace business across another quarter. The company's Net Merchandise Value (NMV) grew 34% over the previous year to ₹11,614 crores. Marketplace revenues have gone up by 48% to ₹3,707 crore, mainly due to better conversion of deliveries, fewer cancellations and more monetisation of the platform.

Marginal contribution had improved to 4.6% of the total NMV, up from 4.0% during the prior quarter. The increase in contribution margin also led to an increase in the revenue contribution of the marketplace to ₹531 crore, up from ₹459 crore in the prior quarter. Marketplace adjusted Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) has moved up again from -1.7% of the company's total NMV in Q4 FY26 to -1.2% of Q1 FY27 in FY27 NMV.

Over the last twelve months, free cash flow improved to ₹537 crore negative from ₹633 crore negative in the preceding quarter, while free cash flow to equity improved to ₹164 crore negative. The company closed the quarter with a cash balance of ₹6,521 crore.

Meesho’s Business Performance In Q1 FY27

The e-commerce business not only increased its customer base but also boosted user engagement through various initiatives. Annual active users increased by 29%, reaching 274 million, with the number of purchases per customer being around 10.3 orders.

Customer orders also rose by 29% to 725 million in comparison with the previous year, as a result of an ongoing customer acquisition strategy and a high number of return purchases. Prepaid orders constituted about 37% of shipped orders. To add to that, the transacting seller count reached 1.04 million, with almost 45% coming from Tier 2 towns and smaller cities.

The company's newer businesses also maintained strong momentum. Meesho Mall, which now hosts over 1,200 brands, recorded 93% growth, while Content Commerce saw NMV rise 141%, supported by 1.7 million active order-generating content pieces. Chief Financial Officer Dhiresh Bansal said investments in AI continued across product discovery, seller onboarding, logistics and engineering.

How Did The Market React?

The company’s stock is likely to be in focus after the announcement of its Q1 results. On 23 July, Meesho's share price closed at ₹188.95 on the National Stock Exchange.

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