Meesho Q2 FY27 Results: Revenue Grows 34.4% As Meesho Mall And Content Commerce Drive Marketplace Growth

Meesho Limited reported its Q2 FY27 results today. The company’s revenue for Q2 FY27 stood at ₹4,131.58 crore, up 34.4% from ₹3,073.67 crore a year ago.

Also, the company’s net loss came down to ₹132.4 crore. It was ₹411.4 crore in the same quarter last year.

Other Key Highlights Of Meesho's Q2 Results

The platform's net merchandise value (NMV), which measures the value of goods sold, rose 23% year-on-year to ₹12,911 crore. Orders grew 17% to 819 million.

The number of annual transacting users reached 284 million. It went up 21% from last year. The annual purchase frequency is rising to 10.4 transactions per user.

The platform’s branded products vertical, Meesho Mall, had a strong quarter. Its NMV grew 81% year-on-year. In Tier 3 cities and smaller markets, the increase was even higher at 89%. The platform now has around 1,800 brands.

Content Commerce was another area of growth. This is where shoppers discover products through creator videos and other content. NMV from this business rose 160% year-on-year. The number of content pieces that generated orders also increased 144% to 2.2 million.

There was some improvement in the cost side of the business, too. Meesho's contribution margin rose to 6% of NMV. This number stood at 4.6% in Q1 FY27. In simple terms, the company retained more from its sales after certain direct costs. It credited better logistics efficiency and higher advertising revenue for the improvement.

Meesho also reported free cash flow of ₹345 crore in Q2, compared with an outflow of ₹226 crore in the previous quarter. The company cautioned that seasonal working capital benefits helped this figure. It had ₹7,048 crore in cash as of 30 September 2026.

The Meesho share price closed at ₹227.84 on 28 October 2026. This was 1.91% up from its previous close.

What Did Meesho's Management Say?

The timing of the festive sale made a difference to the year-on-year comparison. Last year's Mega Blockbuster Sale fell in Q2, while this year's event took place in Q3. Meesho said NMV grew 33% when it compared the 90 days leading up to Dussehra in both years.

The company is also using artificial intelligence to speed up its engineering work. Between March and September 2026, it reported a 171% increase in engineering productivity. Feature development that once took weeks can now take days, while code approval times have fallen 41%.

Meesho plans to put some of these efficiency gains back into the business. That includes improving the platform for shoppers and sellers and growing newer areas such as Meesho Mall and Content Commerce.

There is a trade-off, though. The company said its contribution margin could ease in the near term as it spends more on these growth plans.

For Meesho, the next step is to keep bringing more shoppers to the platform while managing costs and improving cash generation over time.

Also Read - Borosil Scientific Q2 FY27 Results: Net Profit Jumps 86.3%; Company Looks To Cut Reliance On Imported Glass Tubing