Intimation w.r.t transcript of the Company''s Earnings Conference Call for Q1 FY27 held on July 23, 2026.

AI summary - Logistics cost expected to continue declining despite fuel and wage hikes, driven by efficiency gains - Meesho Mall growing faster than overall platform; significant contributor to long-term ad revenue - Kirana Club acquisition early stage; aims to serve Kiranas and retailers in small towns, aligning with Meesho's mission - Low-cost local logistics network being developed for perishables and FMCG; still experimental - Valmo accounts for about 50% of logistics volume; cost efficiencies ongoing - Two-thirds of GMV-contributing sellers advertise; ad adoption increasing - Annual frequency of orders growing 9% y-y, driven by older and newer cohorts - AI used to accelerate seller onboarding, catalog automation, and product authenticity checks - Long-term NMV growth guidance at 25% CAGR over five years