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Swing Capital

Meesho Ltd

NSE: MEESHO BSE: 544632

The Company is an app-based marketplace that is operated under the brand of Meesho that connects sellers and end consumers. Its offerings span categories including fashion, accessories, electronics, home and kitchen items, health, and fitness equipment, and office supplies.[1]

₹190
52W: ₹126 — ₹255
PE 79.5 · Book ₹72.6 · +162% vs book
Market Cap₹87,161 Cr
Stock P/E79.5Price to Earnings
ROCE6.39%Return on Capital
ROE6.33%Return on Equity
Div. Yield0%Face Value ₹1

Strengths

  • +Company is almost debt free.
  • +Company has delivered good profit growth of 33.2% CAGR over last 5 years

Weaknesses

  • −Stock is trading at 2.57 times its book value
  • −Promoter holding is low: 16.6%
  • −Company has a low return on equity of -19.0% over last 3 years.
  • −Earnings include an other income of Rs.27,801 Cr.
  • −Working capital days have increased from -23.6 days to 73.4 days

Shareholding Pattern

Promoters16.57%
FIIs4.17%
DIIs5.56%
Public73.7%
CategoryDec 2025Mar 2026
Promoters16.76%16.57%▼0.2
FIIs4.31%4.17%▼0.1
DIIs5.28%5.56%▲0.3
Public73.66%73.7%▲0.0

Financial Statements

MetricDec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales2,6782,3992,5041,3911,5791,379
Expenses2,8012,6262,7681,4211,6211,406
Operating Profit-123-226-264-30-42-27
OPM %-5%-9%-11%-2%-3%-2%
Net Profit-30-1,384-28922734320
EPS ₹-3.51-158.9-1.490.111.630.7

AI Insights

Revenue Trend

Mar 2026 revenue at ₹6,381Cr, down 32% YoY. OPM at -4%.

Debt Position

Borrowings at ₹63Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.

Margin & Efficiency

ROCE improving from 0% (Mar 2021) to 6% (Mar 2026). Working capital days: 73.

Valuation

PE 79.5x with 6.39% ROCE. Price is 162% above book value of ₹72.6. Dividend yield: 0%.

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