Advertisement
The Gulf conflict has disrupted global supply chains, pushed...
REITs have changed the way commercial real estate is owned a...
What does it take to preserve a real estate legacy while bui...
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
E-commerce company Meesho reported that its tax disputes more than tripled to INR 2,071.8 crore in FY26, according to its annual report. The disputes include a fresh income tax demand of INR 1,499.74 crore for assessment year 2023-24, in addition to a demand of more than INR 572 crore raised in the previous fiscal year. Meesho has challenged the assessments through rectification requests and appeals. Despite the tax matters, the company reported strong operational growth in FY26, with its user base rising 33% to 26.4 crore and consolidated revenue increasing to INR 12,626 crore.
Meesho’s tax disputes more than tripled to INR 2,071.8 crore in FY26 from the previous fiscal year, according to the company’s annual report.
Income Tax authorities had raised a demand of more than INR 572 crore against Meesho in FY25. The company challenged the demand in court and obtained a stay order.
During FY26, the tax authorities made additions to Meesho’s taxable income declared for assessment year 2023-24, resulting in a demand of INR 1,499.74 crore. The company also received a show-cause notice for initiation of penalty proceedings under Sections 274 and 270A of the Income-tax Act, 1961.
Meesho has filed a rectification request against the assessment order with the Deputy Commissioner of Income Tax and an appeal before the National Faceless Appeal Centre in Delhi.
On the business front, Meesho Chairman, Managing Director and CEO Vidit Aatrey said FY26 was among the company’s strongest years, while the firm also increased spending on user acquisition and technology to build capabilities for future growth.
Aatrey said the higher spending affected the company’s contribution margin and free cash flow during the year as Meesho invested in acquiring consumers and expanding its capabilities. He added that the investments were evaluated against the company’s long-term return targets.
Meesho’s user base increased 33% to 26.4 crore during FY26. The number of annual transacting sellers rose 87% to 9.61 lakh, while its logistics network included 18,000 logistics partners and around 1.2 lakh delivery agents.
Content-led commerce also emerged as a growth driver, with 63,213 active content creators generating more than 14 lakh pieces of order-generating content on the platform.
The company narrowed its loss to INR 1,358 crore in FY26 from INR 3,942 crore in FY25. Consolidated revenue rose to INR 12,626 crore from INR 9,390 crore during the same period.
Source PTI
Advertisement
Facebook
Whatsapp
