Key Board Approvals

1. Financial Results Approval: The Board approved the Unaudited Financial Results (Standalone and Consolidated) for the quarter and six-month period ended September 30, 2026. The results were reviewed by statutory auditors S.R. Batliboi & Associates LLP.

2. Director Appointment: Based on the recommendation of the Nomination and Remuneration Committee (October 16, 2026), the Board appointed Mr. Sudhir Ganesh Sitapati (DIN: 09197063) as an Additional Director in the capacity of Non-Executive Independent Director for a term of five consecutive years, effective October 28, 2026, till October 27, 2031, subject to shareholder approval.

3. Committee Reconstitution: The Board reconstituted the following committees by appointing Mr. Sitapati as a member:

  • Audit Committee: Kimsuka Narsimhan (Chairperson), Rohit Bhagat, Mukul Arora, Sudhir Ganesh Sitapati
  • Nomination and Remuneration Committee: Rohit Bhagat (Chairperson), Mohit Bhatnagar, Sudhir Ganesh Sitapati
  • Corporate Social Responsibility Committee: Hari Shanker Bhartia (Chairperson), Vidit Aatrey, Sanjeev Kumar, Sudhir Ganesh Sitapati

4. Subsidiary Investment: Approved additional investment in common units of Meesho Networks LLC (wholly-owned subsidiary) for an aggregate amount not exceeding USD 100,000 (United States Dollars One Hundred Thousand) in one or more tranches.

Financial Performance Highlights (Standalone)

Quarter Ended September 30, 2026:

  • Revenue from operations: ₹25,108.35 million
  • Other income: ₹4,189.03 million
  • Total income: ₹29,297.38 million
  • Total expenses: ₹27,402.13 million
  • Profit before tax: ₹1,895.25 million
  • Profit for the period: ₹1,895.25 million
  • Basic EPS: ₹0.41
  • Diluted EPS: ₹0.40

Six Months Ended September 30, 2026:

  • Revenue from operations: ₹46,041.00 million
  • Other income: ₹8,855.81 million
  • Total income: ₹54,896.81 million
  • Total expenses: ₹49,463.86 million
  • Profit before tax: ₹5,432.95 million
  • Profit for the period: ₹5,432.95 million
  • Basic EPS: ₹1.15
  • Diluted EPS: ₹1.14

Comparative Figures (Quarter Ended September 30, 2025):

  • Revenue from operations: ₹13,911.37 million
  • Profit before tax: ₹1,032.21 million
  • Profit for the period: ₹223.64 million
  • Basic EPS: ₹0.05

Financial Performance Highlights (Consolidated)

Quarter Ended September 30, 2026:

  • Revenue from operations: ₹41,315.82 million
  • Other income: ₹1,274.20 million
  • Total income: ₹42,590.02 million
  • Total expenses: ₹43,822.67 million
  • Loss before tax: ₹(1,232.65) million
  • Loss for the period: ₹(1,324.46) million
  • Basic EPS: ₹(0.28)
  • Diluted EPS: ₹(0.28)

Six Months Ended September 30, 2026:

  • Revenue from operations: ₹78,443.93 million
  • Other income: ₹2,410.12 million
  • Total income: ₹80,854.05 million
  • Total expenses: ₹83,415.05 million
  • Loss before tax: ₹(2,561.00) million
  • Loss for the period: ₹(2,652.81) million
  • Basic EPS: ₹(0.54)
  • Diluted EPS: ₹(0.54)

Capital Structure Changes

  • During Q2 FY27, the company allotted 19,860,078 equity shares upon exercise of vested options under Employee Stock Option Plan, 2024
  • During H1 FY27, total 64,465,733 equity shares allotted under ESOP
  • Paid-up share capital as of September 30, 2026: ₹4,628.53 million

Subsidiary Investments and Acquisitions

  • Additional investment of ₹999.99 million in Meesho Payments Private Limited (May 6, 2026)
  • Additional investment of ₹749.99 million in Meesho Grocery Private Limited (July 23, 2026)
  • Entered Share Purchase Agreement (June 12, 2026) to acquire:
  • 100% stake of Kirana Club Pte. Ltd. (Singapore)
  • 0.41% stake of Retail Pulse Labs Private Limited (India)
  • Aggregate consideration: ₹2,020.85 million payable in two tranches
  • Expected completion: Q3 FY27 (December 31, 2026)

Tax Matters

  • Income Tax demand of ₹14,997.38 million for AY 2023-24
  • Additional demand of ₹5,720.69 million for AY 2022-23
  • Company has filed rectification requests and appeals
  • Interim stay granted by Karnataka High Court for AY 2022-23 demand
  • Management confident of favorable outcome based on legal advice

Business Reorganization Background

The document notes that due to demerger and business reorganization completed in FY26, the unaudited standalone financial results for Q2 and H1 FY27 are not comparable with the audited figures for the corresponding periods in FY25 and the unaudited standalone financial results for Q1 FY27.

Meeting Details

  • Commenced: 3:30 PM IST
  • Concluded: 4:20 PM IST
  • Duration: 50 minutes