Meesho Limited has informed the Exchange about Transcript
MEESHO · price
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Meesho held its Q4 FY26 earnings call on May 6, 2026, discussing strong operational improvements. The company reported sharp margin improvement with a 4% contribution margin exit rate, recovering from 145 basis points of one-time logistics headwinds experienced in Q2-Q3 FY26. Management clarified it does not set specific targets for Valmo (in-house logistics) share, allocating volumes based on cost efficiency wherever highest ROI is available. User acquisition remains aggressive with declining CAC driven by AI investments like the Vaani voice agent; the company plans to focus heavily on rural customer acquisition. Meesho Mall is being scaled for affordable brands targeting mass India, not premium customers. Ad revenue trends remain positive with over 40% YoY growth in seller adoption, though management is deliberately holding off on pricing increases to maximize long-term ad revenue potential. Management emphasized that LTM FCF is the key guiding metric, not quarterly EBITDA, and expects continued quarterly FCF improvement.
The one-time logistics disruption is behind the company, and the 4% Q4 contribution margin exit rate provides a cleaner baseline for FY27. Management declined to provide specific EBITDA break-even timelines, maintaining its return-threshold-based investment approach rather than cost-cutting mode.