BlueStone Jewellery & Lifestyle , a leading digital-first, omni-channel jewellery brand, has announced robust financial results for the first quarter, demonstrating significant growth and improved profitability.

Key Financial Highlights

• Standalone revenue reached INR 4,926.00 million, up 41% year-on-year
• Adjusted EBITDA surged by 630% to INR 830.00 million
• Adjusted EBITDA margin expanded to 16.8%, a substantial increase of 1,358 basis points
• The company turned cash PAT positive, reporting INR 174.00 million compared to a cash loss of INR 360.00 million in the same quarter last year
• Same Store Sales Growth (SSSG) remained strong at 18.4% year-on-year

Expansion and Operational Performance

BlueStone continued its aggressive expansion strategy, adding 17 new stores during the quarter. As of June 30, the company's retail footprint expanded to 292 stores across 122 cities, representing an addition of 89 stores year-on-year.

The company's customer base grew by 34.4% year-on-year to 816,000, reflecting strong demand and effective customer acquisition strategies. The Average Order Value (AOV) increased to INR 55,499.00, up from INR 45,084.00 in the same quarter last year.

Profitability Improvements

BlueStone's focus on operational efficiency and scale benefits yielded significant profitability improvements. The company's Pre-IndAS EBITDA (excluding inventory gains) stood at INR 233.00 million, with margins improving to 4.7% from -3.5% in the same quarter of the previous year.

Gaurav Singh Kushwaha, CEO of BlueStone, commented on the results: "We are pleased to report our first quarter as a listed company with a strong performance — revenues grew 41% year-on-year, driven by healthy same-store sales growth and the continued expansion of our omni-channel footprint. Alongside this growth, we delivered meaningful profitability improvements, with standalone adjusted EBITDA up 630% and margins expanding by 1,358 bps, reflecting operating leverage across marketing, corporate costs, and manufacturing efficiencies."

Strategic Focus and Outlook

The company attributes its success to its omni-channel strategy, which integrates online and offline channels to provide a seamless customer experience. BlueStone's digital-first approach continues to serve as a strong demand funnel for its stores, while the expanding retail footprint is deepening customer access.

Looking ahead, BlueStone remains focused on balancing growth investments with profitability. The company's management expressed confidence in delivering sustainable long-term outcomes for stakeholders, based on the profitable scalability of their business model.

As BlueStone continues to expand its presence in the Indian jewellery market, investors and industry observers will be watching closely to see if the company can maintain its growth trajectory while further improving its profitability metrics in the coming quarters.

BlueStone Jewellery & Lifestyle , a prominent player in the Indian jewellery market, has reported significant growth and improved financial performance for the first quarter, demonstrating resilience in a challenging economic environment.

Strong Revenue Growth

BlueStone Jewellery reported standalone revenues of INR 4,926.00 million for the quarter, representing a substantial 41.4% year-on-year growth. This impressive increase was achieved despite elevated gold prices, indicating robust demand for the company's products.

Expanded Customer Base and Store Network

The company's customer base expanded by 34.4% year-on-year, reaching 816,000 customers. BlueStone also reported strong same-store sales growth of 18.4% year-on-year. During the quarter, the company added 17 new stores, bringing its total store count to 292 across 122 cities, further strengthening its retail presence.

Significant EBITDA Improvement

BlueStone's Adjusted EBITDA surged by 630% year-on-year to INR 830.00 million. The EBITDA margin improved substantially to 16.8% from 3.3% in the same quarter last year. Even excluding inventory gains of INR 228.00 million, the Adjusted EBITDA stood at INR 602.00 million with a 12.2% margin, indicating strong operational performance.

Enhanced Operational Efficiency

The company reported contribution margins of 31.8%, up 131 basis points year-on-year, driven by manufacturing efficiencies from new facilities. The repeat revenue share increased to 50.7% from 43.2% in the prior year quarter, suggesting strong customer loyalty and satisfaction.

Strategic Focus

BlueStone maintained its omni-channel strategy while focusing on operational leverage in advertising and corporate costs. This approach appears to be yielding positive results in terms of both revenue growth and profitability.

Positive Outlook

Management indicated that Q2 trends are ahead of May-June exit rates from Q1, supported by an earlier festive season timing. This suggests potential for continued strong performance in the coming quarter.

Analysis

The significant revenue growth coupled with substantial EBITDA improvement suggests that BlueStone Jewellery is making significant strides in its business operations. The company appears to be successfully expanding its market presence and benefiting from increased consumer spending in the jewellery sector.

The dramatic increase in EBITDA and EBITDA margin is particularly noteworthy, as it indicates improved operational efficiency and cost management. This positive trend in profitability metrics, combined with strong revenue growth, suggests that BlueStone is moving closer to achieving sustainable profitability.

The jewellery market in India is highly competitive and subject to changing consumer preferences and economic conditions. BlueStone's ability to grow its revenue significantly and improve its EBITDA in this environment is commendable and may reflect the success of its retail and omni-channel strategy.

As the company continues to focus on growth and operational efficiency, investors and industry observers will likely keep a close watch on its performance in the coming quarters, particularly given the positive trends in its EBITDA, revenue growth, and expanding store network.