Trading activity remained elevated, with nearly 83 lakh shares changing hands at an average price of ₹170.21 apiece during the session.
Despite the recent correction, the stock continues to trade at a premium of more than 50% to its IPO price of ₹111 per share. Following the decline, Meesho’s market capitalisation stood at ₹77,088 crore.
Meesho recently reported strong top-line growth in the March quarter. The company reported a 47.1% year-on-year increase in revenue to ₹3,531.2 crore, compared with ₹2,399.9 crore in the corresponding period last year.
The company’s net loss narrowed sharply to ₹166.3 crore from ₹1,391 crore a year earlier. However, the year-ago quarter included an exceptional loss of ₹1,285 crore, and excluding that one-time item, the latest quarter’s loss was higher on a comparable basis.
At the operating level, Meesho reported an EBITDA loss of ₹254.7 crore for the quarter, compared with a loss of ₹230.8 crore in the same period last year.
Contribution margins improved to 4% in the March quarter from 2.3% in the preceding quarter. However, the metric remained below the 4.4% reported in the first quarter of FY26.
The company also reported a deterioration in cash generation, with trailing 12-month free cash flow turning negative at ₹633 crore versus a positive ₹591 crore in the previous year.
Meesho said investments aimed at scaling the business, along with temporary logistics-related expenses, weighed on performance during the second and third quarters of FY26.
