Meesho Q1 FY27: NMV up 34% YoY at Rs 11,614 Cr; Contribution Margin at 4.6%
MEESHO · price
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Meesho Q1 FY27: Annual Transacting Users up 29% YoY to 274 million and NMV rose 34% YoY to about Rs 11,614 crore. Contribution Margin expanded to 4.6 percent of NMV from 4.0 percent, a 54 basis point gain. Meesho Mall NMV grew around 93% YoY, Content Commerce NMV jumped 141% YoY. Kirana Club acquisition slated to close in Q2 FY27. Cash balance stood at Rs 6,521 crore. Management flagged higher user acquisition spend and softer Q2 NMV optics as flagship sale shifts to Q3 this year.
Margin gains of 54 bps QoQ signal improving unit economics, though LTM FCF stays negative at Rs 537 cr. Festive sale shift to Q3 may soften Q2 NMV growth.