Bluestone Jewellery & Lifestyle Limited has announced the allotment of 1,23,069 equity shares under its Employee Stock Option Plan 2014 on January 03, 2026. The Board of Directors approved the allotment through circulation, issuing shares to eligible employees who exercised their vested stock options.

Share Allotment Details

The company allotted equity shares with a face value of ₹1.00 each as fully paid-up shares to eligible employees. The exercise was conducted under the Bluestone Jewellery and Lifestyle Limited - Employee Stock Option Plan 2014, with each share priced at ₹1.00 with no premium.

Impact on Share Capital

Following the allotment, the company's equity share capital structure has been updated. The issued, subscribed and paid-up equity share capital increased from the previous level to accommodate the newly allotted shares.

Regulatory Compliance and Share Characteristics

The allotment was made in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has filed the necessary disclosures with both NSE and BSE, with filing numbers NSE/LIST/51476 and DCS/ESOP/IP/NB/3906/2025-26 respectively.

The newly allotted equity shares carry the ISIN number INE304W01038 and distinctive numbers from 151320373 to 151443441. These shares rank pari-passu with existing equity shares of the company and are not subject to any lock-in restrictions. The shares are identical in all respects to the existing equity shares and will enjoy the same rights and privileges.

Corporate Information

Bluestone Jewellery and Lifestyle Limited, formerly known as Bluestone Jewellery and Lifestyle Private Limited, operates in the diamond, gems and jewellery sector. The company maintains its registered office in Bangalore, Karnataka, and is listed on both the National Stock Exchange of India Limited and BSE Limited.

BlueStone Jewellery and Lifestyle Limited , a leading omnichannel jewellery retailer, has reported robust financial results for the second quarter of fiscal year 2026, demonstrating resilience in a volatile gold price environment.

Record-Breaking Revenue

The company achieved a milestone by crossing the Rs 500 crore mark in standalone revenue for Q2 FY26, marking an impressive 87.4% year-on-year growth. This strong performance is particularly noteworthy given the high base effect from the previous year, which had benefited from a custom duty cut.

Expanding Retail Footprint

BlueStone continued its aggressive expansion strategy, growing its retail presence to 311 stores across 127 cities by the end of September 2025. The company added 19 new stores during the quarter, underlining its commitment to enhancing its physical retail footprint while maintaining a strong online presence.

Customer Growth and Same-Store Sales

The company's customer base expanded by 31% year-on-year, reaching 858,000 customers. Same-store sales growth (SSSG) stood at a healthy 11% YoY, reflecting the company's ability to attract and retain customers through its design innovation and superior customer experience.

Financial Highlights

The company's adjusted EBITDA margins expanded to 13.9% compared to 14% in the same quarter last year. Notably, the contribution margin, excluding inventory gains, improved to 31.8%, showing an expansion of over 300 basis points year-on-year. This improvement was driven by scale and manufacturing efficiencies.

Pre-IndAS EBITDA margins, excluding inventory gains, stood at 3.1%, a significant improvement from -5.6% in the same quarter last year, demonstrating the company's progress towards profitability.

Product Mix and Inventory

The company reported that studded jewellery contributed 62% to the overall revenue in Q2 FY26. BlueStone recorded an inventory gain of Rs 160 million during the quarter, reflecting the volatile gold price environment.

Management Commentary

Gaurav Singh Kushwaha, Founder, Managing Director, and CEO of BlueStone, commented on the results: "Our performance this quarter underscores the resilience of our business model and deep execution focus. We continue to benefit from our omni-channel strategy which seamlessly connects our online presence with an expanding physical retail footprint."

He also noted the mixed customer demand in September but highlighted a strong festive finish towards the quarter's end.

Looking Ahead

While the company refrains from providing specific guidance, management emphasized their continued focus on design capabilities, strengthening store productivity, and optimizing capital efficiency. The company's digital-first approach continues to drive its operations, from design to marketing and personalized shopping experiences.

As BlueStone moves into the traditionally strong second half of the fiscal year, it is well-positioned to leverage its expanded store network and growing customer base. The company's performance in the coming quarters will be closely watched by investors and industry observers alike.