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Earnings Call

Bluestone Jewellery and Lifestyle Earnings Call: Key Takeaways

BlueStone (India's #2 digital-first jeweler) reported Q1 FY27 standalone revenue of INR 7,332 mn (+49% YoY) with 15% EBITDA margin.

Highlights
Revenue growth49% YoY in Q1 FY27 standalone revenue.
MarginsReported EBITDA margin improved 354bps YoY to 15.0%.
Demand visibilityHigh repeat revenue ratio of 59.7% in Q1 FY27.

Growth

Standalone revenue grew 48.8% YoY; Reported EBITDA surged 94.8% YoY to INR 1,102 mn.

Outlook

Focus on omnichannel expansion via deeper city penetration and new-format larger stores; targeting non-wedding jewelry segments.

Risks

High sensitivity to gold price volatility and duty increases; intense competition from traditional and digital-first players.

Last quarter's promises, checked

Delivered

  • Guided homogeneous SSG trends → delivered 34% SSG in Q4 (= BEAT)
  • Targeted 20% annual distribution growth → added 65 stores/24% growth in FY26 (= BEAT)
  • Guided ESOP cost reduction from INR 93cr → delivered drop to INR 58cr (= BEAT)

Partly delivered

  • Guided A&P spend floor at 6% → delivered 6% but down from 12% (= PARTIAL)

Missed

  • RHP target of 290 new stores over FY26-27 → delivered only 65 in FY26 (= MISS)
Source

Earnings Call filed with BSE, NSE: BLUESTONE. Summary written with AI assistance from the document.

Read the document ↗

Bluestone Jewellery and Lifestyle Ltd: key numbers

Share price
₹775.65
Market cap
₹11,858 Cr
Revenue (annual)
₹2,436 Cr
Net profit (annual)
₹14.84 Cr
P/E (TTM)
113.1×Sector 48.2×
Promoter holding
16.21%-0.04% QoQ
FII holding
34.18%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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