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Meesho, an Indian e-commerce marketplace where sellers and individuals list products across categories such as fashion, home, and electronics, released its earnings for the quarter ended March 2026. 

Operational Metrics

• Annual Transacting Users (ATU): Meesho closed  FY26 with 264 million ATU, up from 199 million in FY25, a year-on-year (YoY) increase of 33%.
• Order Frequency: Users placed orders 10.1 times on average over the last twelve months (LTM), up from 9.23 times in FY25, a 9% YoY increase.
• Placed Orders: The platform processed 717 million placed orders in Q4 FY26, taking the full-year FY26 tally to 2,668 million, up 45% YoY from 1,834 million in FY25.
• Delivered Orders: Meesho delivered 469 million orders in Q4 FY26, up 49% YoY from 314 million in Q4 FY25. Full-year FY26 deliveries stood at 1,710 million, up 45% from 1,178 million in FY25.
• Average Order Value (AOV): The AOV for Q4 FY26 was Rs 264.1, down 4% YoY from Rs 274.5 in Q4 FY25. Full-year FY26 AOV stood at Rs 265, down 3% from Rs 274 in FY25, reflecting Meesho’s continued push towards affordable, value-led commerce.
• Gross Merchandise Value (GMV): Q4 FY26 GMV reached Rs 18,941 crore, a 38% YoY increase from Rs 13,750 crore in Q4 FY25. Full-year FY26 GMV stood at Rs 70,710 crore, up 1% from Rs 50,312 crore in FY25.
• Net Merchandise Value (NMV): NMV, which strips out cancellations, returns, and undelivered orders, came in at Rs 11,371 crore for Q4 FY26, up 43% YoY from Rs 7,972 crore in Q4 FY25. The full-year FY26 NMV reached Rs 41,560 crore, a 39% increase over FY25’s Rs 29,988 crore.

Financial numbers: Meesho’s consolidated revenue from operations grew 47% YoY to Rs 3,531.21 crore in Q4 FY26, from Rs 2,399.97 crore in Q4 FY25, taking full-year FY26 revenue to Rs 12,626.34 crore, up 34.5% from Rs 9,389.90 crore in FY25. The company posted a net loss of Rs 166.08 crore for the quarter, an improvement from the Rs 1,391.38 crore loss in Q4 FY25. 

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