Results · Commerce & Consumer Brands

BlueStone posts profit as stock rallies on strong growth

By Startup Enthusiast · 21 July 2026

What they do

BlueStone sells jewellery through stores and online channels

Q1 FY27 net profit rose to ₹6 Cr from a prior loss, though PAT declined 80% sequentially from ₹31.2 Cr in Q4 FY26

Stock jumped 20% as revenue grew 50% year-on-year

BlueStone shares surged 20% intraday to reach an all-time high of ₹730.10.
The stock closed at ₹727.20, marking a 19.52% gain on the BSE.
The company's market capitalization expanded to ₹11,082 Cr (approximately $1.15 Bn).
BlueStone reported a net profit of ₹6 Cr for Q1 FY27 compared to a loss in the previous year.
Standalone adjusted PAT improved to ₹14 Cr versus a loss of ₹21 Cr year-on-year.
Operating revenue increased by 50% year-on-year to reach ₹736.8 Cr.
Revenue also saw an 8% quarter-on-quarter increase during this period.
JM Financial issued a 'Buy' rating citing a shift towards lifestyle jewellery.

PAT declined 80% sequentially from ₹31.2 Cr in Q4 FY26.
Same store sales growth accelerated significantly to 39% year-on-year.
Analysts note benefits for organized players due to changing consumer preferences.

BlueStone operates 352 stores across 139 cities in India.
The company added 12 new stores during the reporting period.
It entered five new Tier II and III cities for expansion.
Internal manufacturing provides a 300-400 bps cost advantage over outsourcing peers.
This vertical integration helps protect the company's design intellectual property.
Repeat customers contribute approximately 60% of total revenue.
Repeat customers spend 20-30% more per order than new buyers.
The website functions primarily as a discovery channel for long-term growth.
New customer acquisition slowed to 40,000 per quarter from 50,000.

BlueStone aims to expand EBITDA margins from 7.5% to ~15% over four years.
The company plans to grow its store count to 706 by FY30.
Distribution is expected to grow at ~20% annually despite slower store additions.
Management projects revenue to reach ₹12,000 Cr by FY30.