BlueStone reported strong Q1 FY27 earnings, driven by robust revenue growth, expanding profitability, and continued retail expansion across India.
BlueStone’s Strong Q1 Performance Fuels Investor Confidence
BlueStone Jewellery and Lifestyle shares hit the 20% upper circuit on Tuesday following robust Q1 FY27 financial results, marking the company’s third consecutive profitable quarter. The stock settled at Rs 732.45 per share on the NSE after the market’s enthusiastic reception of the quarterly performance.1
The digital-first jewellery retailer reported a consolidated net profit of ₹5.96 crore for June quarter, reversing from a loss of ₹34.7 crore in Q1 FY26. Revenue from operations surged 49.6% year-over-year to ₹737 crore, while same-store sales growth (SSSG) reached an impressive 39%, demonstrating strong underlying customer demand despite gold price volatility and recent customs duty increases from 6% to 15%.2
BlueStone’s operational metrics strengthened significantly. EBITDA surged 93.7% to ₹107.7 crore with margins expanding 354 basis points to 15%, supported by operating leverage where revenue growth outpaced cost increases. The company added 12 new stores during the quarter, expanding its network to 352 outlets across 139 cities with strategic focus on Tier-II and Tier-III markets.3
Product mix optimization contributed to profitability improvement. Studded jewellery increased to 57% of total revenue from 55%, indicating successful shift towards higher-margin products. Management attributed growth to consistent execution despite macroeconomic headwinds.
BlueStone Accelerates Expansion with New Stores and Long-Term Profitability Goals
BlueStone targets 15% pre-Ind AS EBITDA margins within 3-4 years and plans Rs 400-500 crore investment to open 80 new stores this fiscal. The company aims sustained 30% same-store sales growth, leveraging its vertically integrated model covering design, manufacturing and retail.4
Since listing in August 2025, BlueStone shares have delivered 28% returns to IPO investors, validating market confidence in India’s digital-first jewellery retail opportunity. The third straight profitable quarter signals business model maturity and operational efficiency.5
