Meesho | Business Upturn

Meesho launches Vaani, India’s first Gen-AI powered voice shopping assistant

Arunika Jain — Tue, 24 Mar 2026 08:24:09 +0000

Meesho has announced the launch of “Vaani – Your Meesho Dost”, India’s first Gen-AI powered conversational voice shopping assistant. This innovative tool is designed to cater to the next 500 million users who traditionally shop offline, bringing the conversational aspect of shopping into the digital realm.

In offline shopping environments, customers typically engage in conversations, describe their needs, ask questions, compare options, and seek reassurance before making a purchase. However, this behaviour has not seamlessly transitioned to digital commerce, particularly for users in tier 2+ markets who find navigating apps through typing and structured searches unintuitive.

“Vaani – Your Meesho Dost” aims to bridge this gap by enabling users to engage in natural, ongoing conversations. Users can speak in their own words, ask follow-up questions, and refine their choices, thereby enhancing their digital shopping experience. Meesho’s broader vision of conversational commerce is realised through this launch, reimagining user interaction with e-commerce via more natural, voice-led experiences.

The assistant supports users throughout the shopping journey, from discovery to purchase. It understands user intent by asking relevant follow-up questions, helps surface the most relevant products without extensive browsing, and addresses decision-making barriers through contextual information like reviews and product details. It also guides users through key steps such as selecting payment methods and confirming delivery details, reducing friction across the purchase process.

Built for scale, the system leverages on-device processing to deliver a faster, more efficient experience while optimising costs. The assistant is powered by a robust AI architecture designed for real-world usage at scale, utilising edge computing for speech understanding and synthesis to ensure low latency and cost efficiency. A multi-agent framework enables it to handle complex, multi-step shopping interactions reliably.

Sanjeev Kumar, Co-Founder and Chief Technology Officer at Meesho, stated, “At Meesho, AI has always been at the core of how we build for scale. With over 251 million annual transacting users, we have a deep understanding of how India shops, and that allows us to anticipate and solve for consumer needs in ways that very few platforms can.”

Early adoption of Vaani shows strong user confidence, with 79% of users saying voice simplifies shopping, 94% finding it intuitive, and 62% already trusting it for transactions. Within the first month of launch, over 1.5 million users have interacted with the assistant, with engagement being repeat-led, indicating early habit formation.

This innovation is translating into measurable impact, with users who engage with the assistant seeing a 22% higher conversion rate, moving more efficiently from discovery to purchase, and showing lower returns and cancellations.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

This article is written by Arunika Jain and reviewed by Aman Shukla before publication.

Brokerage radar, March 10: Dixon Technologies, Meesho, Jubilant Ingrevia, Amber Enterprises among top stocks to watch today

Aman Shukla — Tue, 10 Mar 2026 03:52:16 +0000

Brokerage firms released several key stock recommendations and sector outlooks on March 10 (IST), covering companies across electronics manufacturing, insurance, defence, chemicals, and oil marketing. While some brokerages maintained a positive outlook on select sectors such as defence and pharmaceuticals, concerns emerged around oil marketing companies and energy-intensive industries.

Nomura bullish on Dixon Technologies after JV approval

Nomura has reiterated a Buy call on Dixon Technologies (India) Ltd. with a target price of ₹14,678 per share, following government approval for its joint venture with HKC for display modules.

According to the brokerage, backward integration into display modules is expected to provide a structural margin boost. The construction of the display plant is progressing as planned, with trials likely to begin in Q2 FY27 and a ramp-up expected in H2 FY27.

Nomura noted that display module assembly typically delivers healthy double-digit margins and could add around 50 bps to Dixon’s overall margin by FY28, with potential upside of up to 100 bps once operations fully scale up. The brokerage added that the stock currently trades at around 30x FY28 estimated EPS.

HSBC positive on insurance sector growth

HSBC maintained a positive outlook on the Indian life insurance sector, noting that individual APE growth rebounded to around 20% YoY in February 2026.

The brokerage said most insurers reported a strong pickup in individual APE driven by higher policy sales. However, March volumes could be affected by volatile equity markets.

HSBC also highlighted that the adoption of Ind AS accounting standards and potential changes in commission structures could improve the sector’s overall fundamentals over time.

HSBC initiates coverage on Meesho with Hold

HSBC initiated coverage on Meesho with a Hold rating and a target price of ₹160 per share.

The brokerage said Meesho operates almost as a near-monopoly in India’s value e-commerce segment, focusing on low-value and non-time-sensitive parcel deliveries.

However, HSBC cautioned that improving profitability may be challenging, as margin gains could come at the expense of growth. The brokerage added that long-term valuation would depend significantly on the company’s ability to monetise customer data beyond its core business.

InCred upgrades Jubilant Ingrevia

InCred upgraded Jubilant Ingrevia Ltd. to ADD with a target price of ₹780 per share.

The brokerage expects near-term revenue support from the CDMO plant start-up, with the first dispatch anticipated in mid-March 2026. It also noted limited demand risk for the large CTPR molecule, despite challenges in the FMC segment.

However, InCred stated that management’s ₹2,000 crore EBITDA target by FY30 appears difficult to achieve, citing capability gaps in fluorination and semiconductor chemicals. Even so, the brokerage sees potential for around 2.5x EBITDA growth over the next four years, which supports the upgrade.

MOSL remains positive on defence sector

Motilal Oswal Financial Services maintained a positive outlook on India’s defence sector, stating that ongoing conflict in West Asia could lead to higher global defence spending.

The brokerage believes the sector is well positioned due to strong domestic procurement, export opportunities, and the government’s push for indigenisation. However, it warned that near-term supply chain constraints in specialised components may affect execution timelines.

MOSL issued the following calls:

Buy on Bharat Electronics Ltd. with a target price of ₹520
Buy on Hindustan Aeronautics Ltd. with a target price of ₹5,500
Buy on Bharat Dynamics Ltd. with a target price of ₹1,800
Buy on Astra Microwave Products Ltd. with a target price of ₹1,150
Neutral on Zen Technologies Ltd. with a target price of ₹1,400

Jefferies flags risks for tiles industry

Jefferies said the West Asia conflict could disrupt gas supplies, noting that India receives around 75% of its LNG imports via the Strait of Hormuz.

The brokerage highlighted that LNG and propane account for roughly 70% of fuel used in the Morbi tiles industry, making it highly vulnerable to fuel price volatility.

Energy costs account for 20–25% of net sales, and a 5% increase in fuel costs could reduce EPS by around 5–7%, according to Jefferies.

The brokerage expects weak FY26 volume growth of about 1% YoY for Kajaria Ceramics Ltd. and maintained a Hold rating with a target price of ₹1,310.

Jefferies positive on Amber Enterprises

Jefferies maintained a Buy rating on Amber Enterprises India Ltd. with a target price of ₹9,120.

The stock has already risen around 40% from its January lows, following a strong December 2025 quarter. The brokerage said Amber currently trades at around 47x FY27 PE, slightly above its five-year historical average.

Key growth catalysts include summer demand, electronics manufacturing expansion, and ramp-up of acquisitions. The company has also added two new customers in its data centre business and secured three ECMS approvals for PCB manufacturing.

Jefferies expects around 48% EPS CAGR between FY25 and FY28, supported by expansion across electronics and mobility segments.

Jefferies bullish on Divi’s Labs

Jefferies also reiterated a Buy rating on Divi’s Laboratories Ltd. with a target price of ₹8,200.

The brokerage expects the company to scale up as a major GLP and peptide CDMO player. Two complex oral GLP intermediates and injectable GLP projects could add $600 million and over $400 million in revenue by FY32.

Jefferies said the company’s strong peptide pipeline and deep relationships with global pharmaceutical companies support long-term growth. The brokerage also expects Divi’s to benefit from **Eli Lilly and Company’s supply chain expansion in India.

It forecasts around 15% revenue CAGR and 20% EPS CAGR between FY26 and FY32, with the company potentially reaching about $2.7 billion in revenue by the early 2030s.

Jefferies positive on industrial capex themes

Jefferies noted that central government capex declined 25% YoY in January 2026, but the remaining two months of FY26 could still see a 14% YoY decline while meeting revised estimates.

The brokerage remains positive on companies benefiting from power transmission and distribution (T&D) capex, including Siemens Energy and Hitachi Energy India Ltd..

It also highlighted strong growth visibility for Hindustan Aeronautics Ltd. and Bharat Electronics Ltd., projecting around 19% and 18% EPS CAGR respectively over five years.

Jefferies initiates coverage on Uno Minda

Jefferies initiated coverage on Uno Minda Ltd. with a Buy rating and a target price of ₹1,350.

The brokerage said the company offers strong exposure to India’s auto sector through a diversified product portfolio, with around 90% of revenue coming from the domestic market.

It expects around 25% EPS CAGR and roughly 20% average RoE between FY26 and FY28, supported by growth across both conventional and electric vehicle components.

UBS downgrades oil marketing companies

UBS downgraded India’s major oil marketing companies due to rising geopolitical risks and uncertain earnings visibility.

The brokerage downgraded Indian Oil Corporation Ltd. and Bharat Petroleum Corporation Ltd. to Neutral, while Hindustan Petroleum Corporation Ltd. was downgraded to Sell.

Target prices were revised to:

₹175 for Indian Oil (from ₹190)
₹365 for BPCL (from ₹425)
₹340 for HPCL (from ₹540)

UBS said a $5 per barrel increase in crude oil prices could potentially halve profits if not passed on to consumers. The brokerage also reduced FY27 and FY28 marketing margin estimates by 43–45% and 22–26%, respectively.

The revisions resulted in FY27 profit cuts of 19% for Indian Oil, 15% for BPCL, and 46% for HPCL, despite higher expected refining margins.

Meesho raises $275 million from existing investors, plans more capital infusion

Adnan Nasir — Sat, 11 May 2024 11:52:54 +0000

E-commerce startup Meesho has raised $275 million from existing investors like SoftBank, Prosus, Elevation Capital, and Peak XV Partners, as per the regulatory filings with Security and Exchange Commission (SEC). The capital infusion is part of a larger ongoing round at Meesho.

Meesho, which was initially in the market to raise $300 million, has seen increased in investors interest and can potentially increase the round size as much as $500 to $600 million. The news were first reported by moneycontrol. The talks are still ongoing and the final amount will be decided in due course.

The round, which is a mix of equity and debt, will also see Tiger Global ending its hiatus and returning to in the startup for the first time. Of the total amount, the primary amount of $300 million will be utilised into paying off the taxes from switching the company base from Delaware to India, ahead of an IPO in India. The remaining amount will be the secondary component, as per the reports by the news outlet.

The round values Meesho at $3.9 billion, 20 per cent lower than the $4.9 billion valuation it commanded during its previous fundraise in 2021. The reduction in value comes after Fidelity cut Meesho’s valuation to $3 billion, as per the media reports in January.

Meesho’s mega marketing strategies: Check out some of the unique advertisement campaigns carried out by e-commerce

Kashvi Basu — Wed, 16 Aug 2023 05:13:37 +0000

Meesho” is actually a short form of ‘Meri Shop’ which was found on 13 August 2015 by Vidit Aatrey and Sanjeev Barnwal. It provides stylish and top-quality products related to lifestyle at low and wholesale prices. Meesho is the right place if you love having options as you are free to choose according to your liking from over 40-50 lakhs of top quality products from numerous categories.

Meesho in just a couple of years has become a million-dollar company! Meesho’s brand image is quite similar yet different from high-end companies eg. Amazon, Flipkart, etc. Though the structure of all three companies is B2C in nature. Something that affected Meesho’s Marketing budget was that it is more locally sourced than the rest. This increased the contribution in small business sectors which Meesho enables to bring an income. Though it has cons to it that it brings a gateway to more unidentifiable identities and buyers to fool customers as well as resellers at times too.Meesho usually strives to use the main elements of marketing mix to promote its brand or product in the market which consists of typical 4Ps which are Price, Product, Promotion, and place. As the majority of Meesho’s buyers and sellers are women, its communication mainly centers around the motto of Women Empowerment with a mission to help women achieve independence financially as well. Meesho has collaborated with various influencers to get the brand promoted on their successfully run social media handles. They have roped in Devoleena Bhattacharjee, Paras Bhushan Kalnawat, and others so far. Taking the advantage of ‘the meme trend‘ Meesho has also started offering discounts and offers through them. Taking famous dialogues and molding them to convey Meesho’s messages is one of the great ways of marketing.

Despite e-commerce giants sharing an owning a major chunk of the industry in the country for years now, Meesho seemingly emerged as a disruptor that catered to the Indian audience’s needs and monetary capacities.With campaigns like ‘Sahi sahi lagao na’ and ‘Meesho pe sab Kuch’, the brand tries to tell the users how their needs can be met at Meesho, without the hassle of going out and giving a higher price.

Meesho registers its first ever profit post taxation in July 2023

Dixita Hazarika — Mon, 07 Aug 2023 18:15:32 +0000

On Monday, Meesho, the ecommerce firm, said that it had turned profitable in July for the first time on a consolidated profit after tax (PAT) level. Also, according to Vidit Aatrey, chief executive of the company, it expects to continue widening its profit pool hereon in the coming months and quarters.

Aatrey said, “The idea is not to record this profit but expand on it and you will see us investing that back in the business after being conservative for the last few months. The caveat is that we will invest while being profitable and it will go in areas like growing categories on the platform,”

Aatrey also mentioned that the firm had a PAT in “single-digit crore rupees” for July, without disclosing a specific number. He outlined some of his plans to the Meesho team as well on Monday.

CFO Dhiresh Bansal said, “The trends (on profitability) have been secular for the last few months and we expect them to continue in the coming quarters… there is a big jump in scale expected in the quarter ended November due to the festive season, and we expect the increase in revenue to make up for our sale offers and other costs.”

The firm stated that Meesho has seen order volumes surge by about 43% and revenues shot up 54% over the last 12 months.

Meesho has reduced its burn significantly from the peak of 2022, and the ecommerce startup is looking to grow from hereon while maintaining profitability. According to reports, Meesho had slashed its burn by half last year, with CEO Aatrey saying it was at around $5 million that month, and expected to shrink further in the ongoing July-September quarter.

In May, the firm fired 15% of its team in order to reduce operating costs further, in its second round of layoffs since 2022. In a statement, Meesho said it has slashed customer acquisition costs by over 80% on a year-on-year basis while maintaining about 140 million monthly active users (MAU).

Meesho under its newly launched Meesho Mall vertical, earns about 80% of its revenues by offering logistics-related services. The rest comes from advertising.

Bansal said Meesho’s plans to go public remain unchanged. It was looking to go for an initial public offering (IPO) in the next 12 to 18 months.

Meesho last raised $570 million in September 2021, at a valuation of $4.9 billion in a round led by Fidelity and B Capital Group. In total, it has raised $1.06 billion to date from the likes of Prosus, SoftBank, B Capital and Peak XV Partners (formerly Sequoia Capital India & SEA), as per data from Tracxn.

According to Bansal, the firm’s grocery vertical was still at an “experimentation phase”, and that further expansion was dependent on the unit economics of the vertical. He added that it was currently operational only in a few cities.

Meesho raises $570 million in funding, crosses $4.9 billion in valuation

Cheryll Jain — Thu, 30 Sep 2021 05:28:18 +0000

Meesho, a leading social commerce startup, has more than doubled its valuation to $ 4.9 billion within the last six months through a new round of funding led by US-based asset manager Fidelity and Eduardo Saverin’s B Capital, the company announced on Thursday, September 30. Meesho has managed to raise $570 million and has plans to use the capital to increase its research and development team and platform users.

The Bengaluru-based startup saw the participation of existing investors like Prosus Ventures, SoftBank Vision Fund 2, Facebook, and Good Capital in its Series F financing round which was reportedly held on September 24.

Some other investors to back the latest funding round include New York-based Footpath Ventures and venture debt fund Trifecta Capital, the company announced in a statement. The news comes just months after Meesho raised $300 million in a larger funding round led by SoftBank Vision Fund 2, valuing it at $2.1 billion.

“We have grown three times in terms of the number of orders over the last two quarters. The business has continued to expand at a very rapid pace. We’ve been adding more categories and catalogues…We have now become a pure horizontal platform where people can find anything they want,” co-founder and chief executive Vidit Aatrey told ET in an interview.

The social commerce platform, founded in 2015 by Vidit Aatrey and Sanjeev Barnwal, relies on a three-sided marketplace with suppliers, resellers and customers. As of April this year, close to 13 million resellers and over 100,000 suppliers were using Meesho while about 80% of resellers on the platform were women, making use of social media sites like WhatsApp and Facebook to reach customers and sell their products.

The company said it had hit 15 million transacting users in the month of August and plans to use the capital to further increase its transacting user base to over 100 million by December 2022. Meesho is also looking to diversify the product categories available on the platform, expanding its selection to 50+ million products, and increase grocery and FMCG offerings through its community group buying business Farmiso to over 200 cities.