BlueStone Jewellery swings to profit in Q1FY27 as revenue jumps 49% to ₹733 crore
The omni-channel jewellery retailer posted ₹14 crore adjusted net profit versus a ₹21 crore loss a year ago, with EBITDA margin up 354 bps to 15%. Same-store sales grew 39% and consumer base expanded 21%, even as gold customs duty pressured costs. Stock is up 53% from its record low but still 23% below peak.
What happened
Bluestone Jewellery and Lifestyle · BlueStone Jewellery reported Q1FY27 results with 49% YoY revenue growth to ₹733 crore, turning profitable with ₹14 crore net
Key facts
- 49% YoY revenue growth
- ₹733 crore revenue
- 39% SSSG
- 21% consumer base growth
- EBITDA margin 15%, up 354 bps YoY
- ₹14 crore adjusted net profit vs ₹21 crore loss YoY
- stock up 53% from record low, 23% below peak
Why this matters
BlueStone's 21% consumer base expansion alongside profitable scaling makes it a notable player to watch in the organized jewellery retail consolidation space.
What to watch
- Any further change in gold import customs duty or GST on jewellery
- Q2FY27 (festive season: Navratri/Diwali) same-store sales trend vs 39% base
- Lock-in expiry or block deals from early investors given stock's sharp rally
- Competitor same-store sales and margin trends in next earnings cycle
- Gold price trajectory (global) and its pass-through to average ticket size
- Analysts revise FY27 revenue/EBITDA estimates upward and issue fresh target prices within 1-2 weeks
- Management issues forward commentary on gold-duty hedging strategy and pricing pass-through plans
- Store/omni-channel expansion targets for FY27 likely announced alongside guidance
- Watch for promoter/PE/anchor investor stake sales now that stock has rallied 53% off lows
- Competitors (Kalyan, Senco, CaratLane) expected to disclose their own Q1 SSS numbers for comparison within weeks