Meesho Q3 FY26 NMV ₹10,995 Cr, Users 251M, Orders +36% YoY
Meesho reported Q3 FY26 NMV of ₹10,995 crore, up 26% YoY. Annual Transacting Users hit 251 million (+34% YoY) with placed orders at 690 million (+36% YoY). LTM Free Cash Flow was ₹56 crore. Cash balance stood at ₹7,277 crore post-IPO.
Significant growth in key performance indicators like NMV, users, and orders, coupled with positive financial metrics and a substantial cash balance post-IPO, indicates a high impact on the company's valuation and market position.
The company reported strong year-on-year growth in Net Merchandise Value, placed orders, and annual transacting users. Positive free cash flow and a healthy cash balance post-IPO also contribute to a positive sentiment.
Meesho Limited announced its Q3 FY26 performance, reporting a Net Merchandise Value (NMV) of ₹10,995 crore, a 26% year-on-year increase. Placed orders grew by 36% YoY to 690 million, and Annual Transacting Users reached 251 million, up 34% YoY. Users transacted an average of 9.78 times per year on a Last Twelve Month (LTM) basis, a 9% increase YoY.
The company highlighted that the festive season calendar shift impacted the quarter-on-quarter comparison. Combining Q2 and Q3 FY26, the NMV was ₹21,510 crore, a 37% YoY growth.
Meesho also shared its first shareholder letter as a public company. Founder & CEO Vidit Aatrey emphasized platform health and disciplined growth, with Free Cash Flow per share as the north star. For the LTM period, free cash flow stood at ₹56 crore. As of December 31, 2025, Meesho's cash balance was ₹7,277 crore, including ₹4,088 crore raised through its IPO in December FY26.
Technology investments in recommendation models and voice search improved new consumer onboarding and conversion, especially in regional language markets. The platform also saw participation from national brands like Dabur on Meesho Mall.
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