Results · Commerce & Consumer Brands

Bluestone posts first full-year net profit

By Startup Enthusiast · 23 April 2026

What they do

Bluestone is an omnichannel jewellery retailer selling gold, diamond, gemstone and platinum jewellery

It reported Q4 FY26 consolidated net profit of ₹32 crore, its second consecutive quarterly profit, and FY26 PAT of ₹13.18 crore

The company turned profitable for the first time in FY26, a year after listing, with revenue up 38% to ₹2,436 crore

Bluestone Jewellery and Lifestyle Ltd reported a Q4 FY26 consolidated net profit of ₹32 crore, compared to a loss of ₹51 crore in Q4 FY25.
Its FY26 full-year consolidated net profit was ₹13.18 crore, versus a loss of ₹222 crore in FY25, marking its first full year of profitability.
Q4 FY26 consolidated revenue rose 48% year-on-year to ₹681.4 crore, from ₹461.3 crore.
FY26 full-year revenue grew 38% to ₹2,436 crore, from ₹1,770 crore in FY25.
Q4 EBITDA was ₹126 crore (margin 18.4%), up from ₹27 crore (5.8%) a year ago.
Same-store sales grew 34% in Q4, and the company added 65 new stores during FY26, taking the total to 340 stores across 134 cities.
The company issued ESOPs worth ₹7 crore (1,29,573 shares) on 23 April 2026, and had rolled out fresh ESOPs worth ~₹11 crore in the prior week.

Bluestone listed on exchanges in August 2025 through an IPO that raised ₹1,540 crore.
The company achieved its first-ever quarterly profit of ₹68.8 crore in Q3 FY26, but Q4 profit fell 55% sequentially.
Net debt reduced sharply to ₹346.9 crore as of March 2026, from ₹617.1 crore a year earlier.
The results show the company has reached a profitability inflection point after years of losses, as highlighted by CEO Gaurav Singh Kushwaha.

Bluestone is an omnichannel jewellery retailer specialising in gold, diamond, gemstone and platinum jewellery.
It operates an in-house design, manufacturing and retail model, selling through its website, mobile app and physical stores.
The company offers over 8,000 unique designs and had a customer base of over 944,000 during Q4.
Its average order value is ₹74,816.
It generated Q4 gross profit of ₹303.1 crore with a gross margin of 44.5%, up from 38.6% a year ago.
Employee benefit expenses were ₹74.1 crore in Q4, up 32% year-on-year.

The company plans to further expand its customer base and market presence in FY27.