Meesho shares hit 52-week low on ₹1,500 crore demand notice from Income Tax department

The stock was down 10% to ₹143.34 apiece, its lower-circuit level, on the National Stock Exchange (NSE). Its market capitalisation stood at ₹64,691.22 crore.

The scrip has declined 7.83% in the past week and 8.66% over the month. On a year-to-date basis, it is down 21%. The stock had hit a 52-week high of ₹254.40 on December 18, 2025.

The company, in an exchange filing on March 6, said that the notice is for assessment year 2023-24.

"The Assessment Unit of Income Tax Department has raised a tax demand aggregating to ₹14,99,73,82,840, including applicable interest," the filing said.

The company said that the demand order is based on certain additions and adjustments to the company's income.

"The company is currently evaluating the assessment order and does not concur with the observations and adjustments made in the assessment order. The company believes that it has adequate legal and factual grounds to contest the same and is taking necessary steps to protect its interest," Meesho said.

Meesho had received a similar income tax demand order for the assessment year 2022-23 as well, which it had declared in detail in the IPO documents.

"As indicated therein, the High Court of Karnataka, by an order dated April 17, 2025, granted an interim stay on such demand notice and the matter is currently pending. The Assessment Order along with the Demand Notice does not have any major adverse impact on the company's financial position, operations, or other activities," the filing said.

Meesho Q3 results

In the December quarter of FY26, Meesho's consolidated net loss widened to ₹490.67 crore. The company had posted a net loss of ₹37.43 crore a year back.

Its revenue from operations increased 31.32% to ₹3,517.59 crore in Q3 FY26, compared to ₹2,678.64 crore in the same period a year ago.