Bluestone Jewellery & Lifestyle Ltd
Incorporated in 2011, BlueStone Jewellery and Lifestyle Limited manufactures and provides diamond, gold, platinum and studded jewellery.[1]
- Market Cap ₹ 7,359 Cr.
- Current Price ₹ 484
- High / Low ₹ 793 / 400
- Stock P/E 283
- Book Value ₹ 119
- Dividend Yield 0.00 %
- ROCE 7.13 %
- ROE 1.92 %
- Face Value ₹ 1.00
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 23.1% CAGR over last 5 years
Cons
- Stock is trading at 4.05 times its book value
- Company has low interest coverage ratio.
- Promoter holding is low: 16.3%
- Company has a low return on equity of -16.1% over last 3 years.
- Promoters have pledged 37.2% of their holding.
- Working capital days have increased from 39.0 days to 136 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 255 | 245 | 461 | 771 | 1,266 | 1,770 | 2,441 | |
| 273 | 261 | 1,697 | 826 | 1,212 | 1,692 | 2,047 | |
| Operating Profit | -18 | -16 | -1,236 | -55 | 53 | 78 | 394 |
| OPM % | -7% | -7% | -268% | -7% | 4% | 4% | 16% |
| 1 | 8 | 15 | 17 | 38 | 58 | 49 | |
| Interest | 3 | 9 | 19 | 67 | 138 | 208 | 210 |
| Depreciation | 4 | 13 | 22 | 62 | 95 | 147 | 208 |
| Profit before tax | -24 | -31 | -1,261 | -167 | -142 | -219 | 26 |
| Tax % | 0% | 0% | 1% | 0% | 0% | 0% | 0% |
| -24 | -31 | -1,268 | -167 | -142 | -219 | 26 | |
| EPS in Rs | -193.89 | -252.95 | -5,934.08 | -78.24 | -66.54 | -62.21 | 1.71 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 58% |
| 3 Years: | 47% |
| TTM: | 38% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 23% |
| 3 Years: | 29% |
| TTM: | 112% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -16% |
| Last Year: | 2% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.12 | 0.09 | 0.18 | 2 | 2 | 4 | 15 |
| Reserves | 20 | -572 | -1,837 | -81 | 346 | 884 | 1,803 |
| 20 | 678 | 2,128 | 830 | 1,388 | 1,941 | 1,961 | |
| 67 | 127 | 270 | 505 | 718 | 707 | 1,169 | |
| Total Liabilities | 106 | 233 | 561 | 1,255 | 2,454 | 3,535 | 4,949 |
| 7 | 75 | 215 | 445 | 585 | 1,013 | 1,109 | |
| CWIP | 2 | 0 | 0 | 1 | 17 | 5 | 3 |
| Investments | 0 | 0 | 0 | 0 | 0 | 78 | 96 |
| 97 | 158 | 346 | 810 | 1,852 | 2,438 | 3,741 | |
| Total Assets | 106 | 233 | 561 | 1,255 | 2,454 | 3,535 | 4,949 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| -18 | 39 | 33 | 27 | -181 | -665 | -174 | |
| -5 | -43 | -71 | -205 | -382 | -91 | -272 | |
| 24 | 9 | 38 | 196 | 595 | 740 | 499 | |
| Net Cash Flow | 0 | 5 | -1 | 18 | 32 | -16 | 53 |
| Free Cash Flow | -17 | 32 | 11 | -44 | -263 | -831 | -247 |
| CFO/OP | 100% | -236% | -3% | -50% | -335% | -838% | -44% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 26 | 3 | 4 | 0 | 1 | 1 | 1 |
| Inventory Days | 57 | 140 | 194 | 275 | 480 | 549 | 691 |
| Days Payable | 51 | 80 | 86 | 54 | 105 | 55 | 41 |
| Cash Conversion Cycle | 33 | 64 | 112 | 221 | 375 | 496 | 652 |
| Working Capital Days | 13 | -73 | -91 | -153 | -57 | 38 | 136 |
| ROCE % | -30% | -626% | -19% | -0% | -1% | 7% |
Insights
In beta| Mar 2018 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Number of Stores Number |
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| Number of Customers (Life-to-date) Number |
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| Same Store Sales Growth (SSSG) % |
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| Average Order Value (AOV) INR |
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| Capacity Utilization - Mumbai % |
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| Installed Manufacturing Capacity - Mumbai kg |
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| Repeat Revenue Ratio % |
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| Total Store Area Square Feet |
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Extracted by Screener AI
Documents
Announcements
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Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
6 May - Bluestone says it does not qualify as a Large Corporate under SEBI debt norms as of March 31, 2026.
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Compliances-Reg.24(A)-Annual Secretarial Compliance
4 May - Annual Secretarial Compliance Report for FY2025-26 filed; no deviations or additional non-compliances noted.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
4 May - Newspaper publications relating to Notice of Postal Ballot and e-voting information.
- Shareholder Meeting / Postal Ballot-Notice of Postal Ballot 30 Apr
- Announcement under Regulation 30 (LODR)-Earnings Call Transcript 29 Apr
Concalls
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Apr 2026Transcript PPT REC
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Jan 2026TranscriptPPT
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Jan 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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Sep 2025Transcript PPT REC
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Nov 2024TranscriptPPTREC
Business Profile[1]
BlueStone is India’s 2nd largest digital-first omni-channel jewellery retailer, operating a vertically integrated model covering design, manufacturing, and retail. It targets modern consumers with a strong focus on non-wedding, lightweight, design-led jewellery, combining online discovery with offline fulfilment.