Meesho Limited has notified the stock exchanges of its scheduled participation in investor and analyst meetings on May 18 and May 19, 2026, pursuant to Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was filed on May 13, 2026, by the Company Secretary and Compliance Officer, Rahul Bhardwaj.

Meeting Schedule

The company will engage with institutional investors across two consecutive days through distinct meeting formats. The following table outlines the details of the scheduled events:

Key Disclosures

Meesho has stated that all discussions during these meetings will be based on publicly available information. The company has explicitly noted that no unpublished price-sensitive information is proposed to be shared during the meetings.

Additionally, the company has indicated that the schedule of the above investor and analyst meetings is subject to change, which may occur due to exigencies on the part of investors, analysts, or the company itself.

Regulatory Compliance

The intimation has been submitted to both the National Stock Exchange of India Limited and BSE Limited in accordance with applicable SEBI listing regulations. Further details and updates related to the meetings will be made available on the company's investor relations website at https://investor.meesho.com/announcements .

Meesho Limited, formerly known as Meesho Private Limited and Fashnear Technologies Private Limited, has requested both exchanges to take the above information on record.

Meesho Limited has submitted the transcript of its Q4 FY26 Earnings Conference Call, held on May 06, 2026, to the stock exchanges under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The submission, signed by Company Secretary and Compliance Officer Rahul Bhardwaj (Membership No. A41649), was filed on May 12, 2026, and the transcript has been made available on the company's investor relations website.

Key Disclosure Details

The following table summarises the key parameters of the disclosure:

The call was moderated by Nilisha Barbora from Citi and featured Vidit Aatrey (Chairman, Managing Director and CEO), Sanjeev Kumar (Whole-Time Director and CTO), Dhiresh Bansal (CFO), and Karthik Chandrashekar (Head Corporate Development and Investor Relations).

Logistics Strategy and Valmo

Management addressed questions on the mix between in-house logistics arm Valmo and third-party logistics (3PL) partners. Vidit Aatrey stated that the company does not set a specific target for Valmo's share, instead prioritising cost efficiency across all logistics lanes. He noted that Valmo currently handles approximately 50% of order volumes and that its share increases naturally as it innovates and improves its cost structure. Aatrey also confirmed that the company is investing in state-of-the-art automation within sort centres, with experiments already underway at several locations, and that third-party partners are also competing on cost to retain volumes.

Dhiresh Bansal clarified that the one-time logistics headwinds experienced in Q2 and Q3 of FY26, amounting to approximately 145 basis points, were caused by a 3PL consolidation event around May of the prior year, which necessitated short-term capacity building at higher rates. He confirmed that this disruption is behind the company and that the baseline contribution margin has improved to the 4% exit rate seen in Q4. Key drivers of ongoing logistics cost improvement include the shift from cash-on-delivery (CoD) to prepaid transactions, volume-driven density improvements across last-mile and middle-mile legs, and continued innovations within Valmo.

User Acquisition, Frequency, and Financial Metrics

On user acquisition, Aatrey emphasised that investment decisions are governed by return-on-investment thresholds rather than fixed budgets. He highlighted that India's online transacting users represent approximately 30% of smartphone users, compared to over 80% in other emerging markets, supporting continued aggressive user acquisition. The company's annual transacting user base grew 33% year-on-year, reaching 264 million users. New user first-year frequency has nearly doubled over the last three years, driven by AI-led product improvements including the voice shopping agent Vaani, which has helped reduce customer acquisition costs (CAC), particularly for rural users.

The following table highlights key user and platform metrics discussed during the call:

Bansal noted that LTM (Last Twelve Months) Free Cash Flow (FCF) remains the key financial metric for assessing the company's trajectory, given that quarterly cash flows can be volatile depending on the timing of sale events relative to quarter-end. He added that while short-term EBITDA guidance was not provided, the overall FCF trajectory on a quarterly basis is expected to keep improving as margins and growth continue.

Monetisation and Advertising

Management reported that ad revenue as a percentage of Net Merchandise Value (NMV) has seen an uptick in Q4 versus the prior quarter. The Return on Ad Spend (ROAS) remains industry-best, described as multiples of what other e-commerce players offer in India or globally. The number of product catalogs live on ads grew by more than 40% year-on-year, and seller ad budgets have grown more than double over the last year. Aatrey noted that more than two-thirds of sellers, weighted by GMV, are active on the ads platform.

On revenue per order trends, management clarified that the decline from approximately ₹57 in FY24 to approximately ₹47 in FY26 is largely explained by the increasing share of prepaid orders (which carry lower revenue but also lower cost, leaving contribution margin net neutral) and accounting changes where first-order discounts are now netted against revenue rather than reported gross. Contribution margin was highlighted as the more instructive metric, with ad revenue improvements expected to flow directly to contribution margin given the high gross margin nature of the ads business.

Meesho Mall and Strategic Priorities

Management highlighted the continued scaling of Meesho Mall, which targets affordable and value-focused national, regional, and D2C brands for mass India rather than exclusively premium customers. Aatrey noted that many national brands are finding new consumer segments and new product selections through Meesho that they could not reach via traditional distribution channels such as Kirana stores or general trade. The contribution margin for Mall transactions is currently lower than the core marketplace, as the business is in an investment phase focused on onboarding brands and growing selection. Management indicated that the focus on maximising Mall contribution margin will come at a later stage of maturity.

On the macroeconomic environment, Aatrey observed that value-focused platforms historically tend to gain market share during high-inflation periods as consumer budgets tighten, characterising such an environment as a potential tailwind for Meesho's positioning.