BlueStone Q4 FY26 Earnings Call Transcript Available; Revenue Grows 49.1% YoY
BlueStone Jewellery and Lifestyle Limited has made the transcript of its Q4 FY26 earnings call held on April 24, 2026 available on its website. The company reported standalone revenue growth of 49.1% year-on-year for Q4 FY26, with full-year revenues reaching INR 2,441 crores. Same-store sales growth stood at 34% for the quarter. The company operated 340 stores across 134 cities as of March 2026, adding 65 stores during FY26. Management highlighted strong operating leverage and robust exit growth entering FY27, with plans to maintain approximately 20% annual distribution growth. The earnings call transcript is accessible under the Investors Relations section at www.bluestone.com.

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BlueStone Jewellery and Lifestyle Limited has announced that the transcript of its earnings call held on April 24, 2026 for Q4 FY 2025-26 is now available on the company's official website. The disclosure was made pursuant to Regulation 30(6) read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The transcript can be accessed under the Investors Relations section at www.bluestone.com under Investor updates -> 2025-2026 -> Q4.
During the earnings call, management highlighted that FY26 marked a milestone as the company's first full financial year as a listed entity. For Q4 FY26, standalone revenue grew 49.1% year-on-year, while the company delivered revenues of INR 2,441 crores for the full year. Same-store sales growth of 34% in Q4 demonstrated resilient consumer demand, with growth being broad-based across all three months of the quarter.
Key Operational Metrics
| Particulars | Details |
|---|---|
| Q4 FY26 Standalone Revenue Growth | 49.1% YoY |
| FY26 Full Year Revenue | INR 2,441 crores |
| Q4 Same-Store Sales Growth | 34% |
| Total Stores (March 2026) | 340 stores |
| Stores Added in FY26 | 65 stores |
| Cities Covered | 134 cities |
| Franchisee Stores | 67 stores |
The company's omnichannel model continued to drive performance, with 340 stores operating across 134 cities as of March 2026. During FY26, BlueStone added 65 stores, including 17 stores in Q4 alone. Management noted that growth in non-metro cities like Ranchi and Lucknow demonstrated the ability to drive coverage and density with strong productivity beyond metros. Out of the total store portfolio, 67 are franchisee stores, with management indicating that the franchisee model will see a significant decline in FY27 and FY28 as existing five-year contracts are honoured.
Strategic Outlook
Looking ahead, management indicated plans to maintain approximately 20% annual distribution growth over the coming years. The company's vertically integrated model enabled rapid realignment of entry-level offerings to restore price accessibility without compromising design or experience. This recalibration, visible in Q4 performance, is expected to continue through FY27.
Regarding inventory management, management explained that the sharp increase in gold prices during FY26 led to a disproportionate increase in closing inventory value, impacting inventory turns. Mature stores with more than three to four years of operations show inventory turns hovering between 1.7 to 1.9. As gold prices stabilize, inventory efficiency is expected to improve.
Company Details
| Particulars | Details |
|---|---|
| Company Name | BlueStone Jewellery and Lifestyle Limited |
| Formerly Known As | BlueStone Jewellery and Lifestyle Private Limited |
| BSE Scrip Code | Equity - 544484 |
| NSE Symbol | BLUESTONE, Series EQ |
| CIN | L72900KA2011PLC059678 |
Contact Information
The registered office of the company is located at Site No. 89/2 Lava Kusha Arcade, Munnekolal Village, Outer Ring Road, Marathahalli, Bangalore - 560037. The corporate office is situated at 302, Dhantak Plaza, Makwana Road, Marol, Andheri East, Mumbai - 400 059, Maharashtra. For queries, stakeholders can contact the company at 080 4514 6904 or via email at statutorycompliance@bluestone.com . The earnings call transcript was signed by Gaurav Singh Kushwaha, Managing Director, on April 29, 2026.
Source: Company/INE304W01038/78060ad78fe64107.pdf
How will BlueStone's aggressive 20% annual store expansion target impact profitability and cash flow in the next fiscal year?
What competitive advantages will BlueStone leverage to maintain its 34% same-store sales growth momentum amid increasing market competition?
How might changes in gold prices and consumer spending patterns affect BlueStone's inventory management strategy and margin dynamics?

































