Meesho Q2 FY27 Results & Earnings Intelligence
MEESHOStructural risk assessment following Q2-FY27 | 30 Sep 26 earnings.
₹4,131.6 Cr
+11.3% QoQ
₹-123.3 Cr
+73.0% YoY•+7.2% QoQ
₹-132.4 Cr
+67.8% YoY•+0.3% QoQ
21/ 100
+14 pts QoQ
The Quarter at a Glance
Consolidated Financials| Metric | Q2-FY27 | 30 Sep 26 | Q2-FY26 | 30 Sep 25 | YoY Δ | Q1-FY27 | 30 Jun 26 | QoQ Δ |
|---|---|---|---|---|---|
| Revenue from Operations | ₹4,131.6 Cr | N/A | N/A | ₹3,712.8 Cr | +11.3% |
| Revenue (Total Income) | ₹4,259.0 Cr | ₹3,074.0 Cr | +38.5% | ₹3,826.4 Cr | +11.3% |
| Operating Profit (EBITDA) | ₹-123.3 Cr | ₹-456.0 Cr | +73.0% | ₹-132.8 Cr | +7.2% |
| Profit Before Tax (PBT) | ₹-123.3 Cr | ₹-330.0 Cr | +62.6% | ₹-132.8 Cr | +7.2% |
| EBIT Margin | -2.89% | -14.83% | +1194 bps | -3.47% | +58 bps |
| Net Profit (PAT) | ₹-132.4 Cr | ₹-411.0 Cr | +67.8% | ₹-132.8 Cr | +0.3% |
| Interest Expense | ₹1.4 Cr | ₹1.0 Cr | +37.8% | ₹2.1 Cr | -35.2% |
| Operating Cash Flow | ₹-279.6 Cr | N/A | N/A | N/A | N/A |
| Basic EPS (₹/share) | ₹-0.28 | N/A | N/A | ₹-0.28 | +0.0% |
Sources:Official BSE/NSE Disclosures & Financial Filings
Core operating EBITDA margin of -2.9% reflects operating leverage, gross spread absorption, and input cost discipline against revenue.
Sentinel Executive Summary
Core Earnings Synthesis"Meesho Ltd. currently sits within Flagium's Watch category. However, recent periods have introduced early signs of leverage and funding pressure, revenue growth headwinds. Despite positive top and bottom-line growth, triggers like 'Receivables-Revenue Divergence', 'Low Interest Coverage' indicate underlying structural risk. While not currently existential, persistent friction suggests that structural risk is rising."
Meesho Ltd. posted steady top-line growth and bottom-line stability, demonstrating resilient execution in its core markets. While the underlying business remains fundamentally sound, the presence of 2 active risk warnings highlights minor operational or working capital inefficiencies to keep on the watch list.
🟢 Key Operational & Structural Positives
- ✓Revenue Growth: Quarterly revenue moved +38.5% YoY and +11.3% QoQ, reflecting demand and volume trends.
- ✓Core Operating Revenue Growth: Revenue from operations (core business, ex-other income) moved +11.3% QoQ, reaching ₹4,131.6 Cr.
- ✓Operating Margins: Operating margin moved +1194 bps YoY and +58 bps QoQ to -2.89%.
⚠️ Key Areas of Watch & Margin Pressures
- ⚠Resolution of 'Receivables-Revenue Divergence': MEESHO: Trade Receivables growth outpaced Revenue by +59.2 pp (DSRI: 1.51x).
- ⚠Resolution of 'Low Interest Coverage': MEESHO: Low Interest Coverage Ratio of -88.45x in FY2027 Q2 (Threshold: 2.5x).
- ⚠Volume growth trajectory: Track rural vs urban consumption trends and underlying volume expansion.
Flagium Risk Signals
Automated Forensic SignalsReceivables-Revenue Divergence • Low Interest Coverage
MEESHO: Trade Receivables growth outpaced Revenue by +59.2 pp (DSRI: 1.51x).
MEESHO: Low Interest Coverage Ratio of -88.45x in FY2027 Q2 (Threshold: 2.5x).
🎙️ Meesho (MEESHO) Q2 FY27 Concall Intelligence
Management Commentary, Concall Takeaways & Key Discussion Themes
No earnings call transcript was available
for this reporting period.
What to do next
Explore MEESHO's full structural risk profile — 12Q score trajectory, pillar breakdown, flag history, and peer benchmarking.
View MEESHO profile →See how Consumer Services peers and the broader market are positioned. Identify sector-wide stress or rotation signals.
Open market monitor →Check how this Q2-FY27 | 30 Sep 26 result affects your portfolio's overall risk exposure and concentration.
Review your portfolio →Continue Research
📬 Flagium Risk Brief — Track forensic risks on MEESHO & 3 market anomalies weekly
See a sample issue →Methodology & Regulatory Disclaimer
Flagium AI is an automated financial data analytics platform. Analysis reports are compiled programmatically from public regulatory XBRL submissions (NSE/BSE) for educational and research purposes only. Flagium AI is not registered with SEBI as a Research Analyst or Investment Adviser under SEBI regulations. This evaluation does not constitute investment advice, financial planning, or recommendations to buy, sell, or hold any security.
Investments in securities market are subject to market risks. Read all the related documents carefully before investing. Please consult a SEBI-registered Investment Adviser before acting on any data presented.