Shares of Meesho Limited opened higher on the National Stock Exchange (NSE) on Thursday, rising over 4 percent to ₹204.20 by 10:31 AM, following the release of its audited Q4 FY26 results. The stock initially opened at ₹205 and reached an intraday high of ₹211.34, witnessing significant trading activity with over 5.16 crore shares valued at ₹1,063 crore exchanged by mid-morning. Despite the rise, sell-side pressure remained high, with 61.79 percent of orders on the sell side compared to 38.21 percent on the buy side.
Meesho, which listed on the NSE and BSE on December 10, 2025, at an IPO price of ₹111, has shown remarkable market performance. The stock has gained 37.55 percent over the past month and 12.15 percent year-to-date, in stark contrast to the Nifty 500’s -2.98 percent YTD return. Its 52-week high reached ₹254.40 in December 2025, while the 52-week low was recorded at ₹125.56 in March 2026.
Market analysts have had mixed reactions to the results. Choice Institutional Equities reaffirmed an ADD rating with a target price of ₹210, highlighting logistics recovery and consistent user growth as positive factors. However, they cautioned that the near-term upside may already be reflected in the current stock price, with expectations of EBITDA breakeven by the second half of FY28.
Conversely, Swapnil Potdukhe from JM Financial maintained a REDUCE rating with a target price of ₹180, citing the strong Q4 results but expressing concerns over the stock’s valuation at approximately 46 times FY29 estimated adjusted EBITDA— one of the highest multiples in the internet sector—leaving little room for execution errors. The analyst also noted the potential for a moderation in net monetary value (NMV) growth to about 34 percent year-on-year in FY27 due to challenging comparisons from the previous year.
The company’s results, released on May 6, indicated that Q4 NMV increased by 43 percent year-on-year to ₹11,371 crore, with the contribution margin improving to 4 percent of NMV from 2.3 percent in Q3. Additionally, the annual number of transacting users grew by 33 percent to reach 26.4 crores for FY26.
Published on May 7, 2026.
