BlueStone Jewellery & Lifestyle

BlueStone Jewellery and Lifestyle Limited delivered record standalone revenue exceeding Rs 500 crores in Q2FY26, marking 87.4% year-on-year growth despite high base effect from previous year's custom duty cut. The company expanded its retail footprint to 311 stores across 127 cities, adding 19 new stores during the quarter. Customer base grew 31% year-on-year to 858,000 customers with same-store sales growth of 11% YoY. Adjusted EBITDA margins expanded to 13.9% compared to 14% in the same quarter last year. The company recorded an inventory gain of Rs 160 million during the quarter. Contribution margin excluding inventory gains improved to 31.8%, showing expansion of over 300 basis points year-on-year driven by scale and manufacturing efficiencies. Pre-IndAS EBITDA margins excluding inventory gains stood at 3.1% versus -5.6% in the same quarter last year. For the first half of FY26, the company delivered 39.4% year-on-year growth. Management highlighted volatile gold price environment and mixed customer demand in September, but noted strong festive finish towards quarter end. The company's omni-channel strategy continues to benefit from seamless connection between online presence and expanding physical retail footprint.

BlueStone Jewellery and Lifestyle Limited reported a consolidated net loss of ₹516.20 crore for the quarter ended September 30, 2025, compared to a loss of ₹277.50 crore in the same period last year. Revenue from operations increased to ₹5,362.77 crore from ₹3,826.78 crore year-on-year. For the half-year period, the company posted a consolidated loss of ₹1,349.47 crore versus ₹846.73 crore in the previous year, while revenue grew to ₹10,300.25 crore from ₹7,432.78 crore. The company completed its IPO during the quarter, raising ₹15,406.50 crore through fresh issue and offer for sale, with shares listed on BSE and NSE on August 19, 2025. The company utilized ₹1,906.50 crore of IPO proceeds, primarily for working capital requirements. BlueStone operates in the design, manufacture and sale of jewellery segment.

BlueStone Jewellery and Lifestyle Limited filed a statement confirming no deviation or variation in the utilization of proceeds raised through its Initial Public Offering for the quarter ended September 30, 2025. The company's equity shares were listed on the National Stock Exchange of India Limited and BSE Limited on August 19, 2025. The filing was made pursuant to SEBI Listing Regulations and confirms that IPO funds were used according to their originally disclosed purposes without any modifications to objects or allocation amounts.