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Nomura starts Meesho at Reduce, sees nearly 24% downside to Rs 167

Nomura initiated Meesho with a Reduce rating and Rs 167 target, citing premium valuation versus Eternal and Swiggy. It expects value-commerce growth and margin improvement but flags competition from Amazon, Flipkart and quick commerce, plus logistics disruption risks.

Nomura forecasts Meesho adjusted EBITDA margin rising from -1.2% in Q1 FY27 to 2.9% by FY30
Adjusted EBITDA margin, Q1 FY27-1.2%
Adjusted EBITDA margin forecast, FY302.9%

Newer report , , NDTV Profit : Meesho's Mega Blockbuster Sale lifts Day 1 orders 75% year-on-year, peaking above 75,000 a minute

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Reported figures

From the report. Source details below

Expected NMV CAGR: 23% from FY27 to FY30
Valmo logistics partners: approximately 18,000
Adjusted EBITDA margin forecast: 2.9% by FY30 versus -1.2% in Q1 FY27
Advertising revenue forecast: 5% of NMV by FY30 versus 3% in Q1 FY27
Logistics spreads forecast: 2.8% of NMV by FY30

The source

Source Read the source at Financial Express

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