Mumbai, Sept. 22 -- The brokerage raised its net merchandise value (NMV) estimates for Meesho for FY29-FY31 by 7%-18%, along with a similar increase in its contribution profit estimates. It also raised its EBITDA estimates for the period by 20%-40%.

The brokerage attributed the higher NMV estimates to the continued expansion of Meesho's buyer and seller ecosystems, along with rapid growth in stock-keeping units (SKUs) and logistics partners.

The brokerage expects Meesho's earnings to grow faster than NMV over the medium term, supported by improvements in advertising monetisation and logistics economics.

Meesho's adjusted loss after extraordinary items narrowed to Rs 132.84 crore in Q1 FY27 from Rs 215.92 crore in Q1 FY26 and Rs 166.35 ...