BlueStone Jewellery and Lifestyle Ltd

Financial highlights

• Standalone revenue ₹24,412.30m, up 37.9% YoY.
• Standalone EBITDA ₹3,944.55m; EBITDA margin 16.16%.
• Standalone PAT ₹260.00m; first year of sustained profitability.
• Consolidated revenue ₹24,364.24m; EBITDA ₹3,839.41m; margin 15.76%.
• Consolidated PAT ₹131.79m; profitability improved vs prior year.
• 3-year revenue CAGR ~47% (FY24-26).

Footprint & scale

• 340 stores across 134 cities in India.
• Presence across 28 states and union territories.
• 12,660+ PIN codes served.
• Instagram followers surpassed 1 million in 2026.
• FY26: 65 new stores opened.

Growth & omnichannel

• Omnichannel model with unified online-to-offline journey.
• Real-time inventory visibility across channels.
• In-house manufacturing over 95% of jewellery.
• Fast design-to-store lead times; 15,000+ designs; 25-30 designers.
• Maya AI sales agent; AI-driven marketing; high engagement.
• Analytics over 300 million days of data drive decisions.

Capital structure & IPO

• IPO completed Aug 19, 2025; listed on BSE & NSE.
• Net IPO proceeds ₹7,707.49m; utilised ₹7,633.70m; unutilised ₹566.30m.
• Equity share capital post-IPO: ₹152.23m; 15,223,1365 shares.
• Net debt to equity ratio 0.19 as of FY2026.

Governance & management

• Amit Jain appointed as Non-Executive, Non-Independent Director; appointment subject to member approval.
• M/S Nexdigm replaced by Sudit K. Parekh & Co. LLP as Internal Auditors for H2 FY26.
• ESG expanded from CSR to Environmental, Social, and Governance oversight.
• CSR Committee renamed ESG; members include Rajesh Dahiya, Rohit Bhasin, Prashanth Prakash.
• Secretarial audit by Mihen Halani & Associates; no qualifications.

Dividend policy & governance

• No dividend declared for FY2025-26.
• Dividend Distribution Policy disclosed; available on company website.
• No material changes post-year; governance framework aligned with SEBI LODR.

Outlook & risks

• Risks: gold price volatility, regulatory changes, supply chain, macro factors.
• Outlook: expand store network; target 700+ stores long term.
• Maintain focus on design-led products; strengthen omni-channel capabilities.

Strategic initiatives & milestones

• FY26 expansions included 65 new stores; network now 340 stores.
• Brand strategy emphasizes 'designed to lead' with digital-first execution.
• Product strategy prioritizes daily wear and occasion-led pieces.

Book closure for AGM

• Register of Members and share transfer books closed Sep 8–14, 2026.
• AGM to be held Sep 14, 2026 at 04:30 PM IST via video conferencing.
• Company name note: formerly BlueStone Jewellery and Lifestyle Private Limited.

AGM details

• Date/time: 14 September 2026, 04:30 PM IST.
• Mode: Video Conference / Other Audio Visual Means (OAVM).
• Remote e-voting window: 11–13 September 2026; cut-off: 07 September 2026.

Resolutions at AGM

• Ordinary Resolution: receive and adopt standalone financial statements for FY 2025-26.
• Ordinary Resolution: receive consolidated financial statements for FY 2025-26.
• Ordinary Resolution: appoint Amit Jain as Non-Executive Director (professional).

Voting results (postals available)

• Dec 23, 2025 postal ballot: ESOP-2014 ratification approved, ~92.35% in favour.
• May 30, 2026 postal ballot: MD one-time bonus approved, ~97.39% in favour.
• May 30, 2026 postal ballot: MD remuneration increase approved, ~99.995% in favour.

Dividend

• Dividend for FY2025-26: not proposed.

Director changes

• Amit Jain appointed as Non-Executive Director (professional), liable to rotation.
• Sameer Dileep Nath retires by rotation and is not seeking reappointment.

Auditors

• Statutory Auditor: M S K A & Associates LLP (now M S K A & Associates LLP); tenure to FY 2027-28.
• Internal Auditor: Nexdigm Private Limited resigned; Sudit K. Parekh & Co. LLP appointed for H2 FY2025-26; 2026-27 onward.
• Secretarial Auditor: Mihen Halani & Associates.

Material related party transactions

• EHPL investment: 92,172 CCPS at ₹2,724 each; total ₹252.0m; subsidiary.
• Redefne Fashion Private Limited: Associate; 49.12% holding; ₹105.0m investment.

Other material approvals / corporate actions

• IPO completed; listings on BSE/NSE on 19 Aug 2025; net IPO proceeds ~₹7,707m.
• ESOP pool increased to 1,17,27,642 under ESOP 2014 via EOGM (May 2025).
• Authorised share capital reclassified to ₹45.05 cr (Sept 29, 2025).
• Ratification of BlueStone Jewellery and Lifestyle Limited – ESOP 2014 via postal ballot (Jan 25, 2026).

Rating details

• Issuer Rating: IND A-/Stable by India Ratings and Research Private Limited (Fitch Group).
• Size of Issue: Not Applicable.
• Rating Date: 07 August 2026.

Board actions

• Approved standalone and consolidated unaudited results for quarter ended 30 June 2026.
• Approved allotment of 4,853 equity shares under ESOP 2014; post-issue capital ₹15,24,06,634.
• Annexure A disclosures under Regulation 10(c) included.
• Trading window opens on 22 July 2026.

Financial highlights

• Consolidated total income ₹7,518.12 million; PAT ₹59.61 million.
• Standalone total income ₹7,480.09 million; PAT ₹111.37 million.
• Standalone EPS ₹0.73; Consolidated EPS ₹0.46.

IPO proceeds and deployment

• IPO proceeds utilised ₹7,934.30 million; unutilised ₹265.70 million as of 30 Jun 2026.
• ₹200 million invested in fixed deposits; ₹65.70 million in public account.

Investments and equity actions

• Invested ₹30m in Redefine Fashion CCPS; issued 1,70,416 shares via stock options.