India · Delayed Price · Currency is INR BlueStone Jewellery and Lifestyle Earnings Call Transcripts
Fiscal Year 2027
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Q2 revenue rose 44% YoY and EBITDA more than doubled, marking a fourth consecutive standalone profitable quarter. Growth was supported by customer expansion, while management expects maturing stores, repeat demand and broader entry-level assortment to sustain progress.
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Q1 FY27 revenue grew 49% and pre-interest EBITDA rose 135%, with operating margin reaching 7.5%. SSG was 39%; four-year plans include ~20% store growth CAGR and margin expansion toward 15%.
Fiscal Year 2026
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Q4 standalone revenue grew 49.1% YoY and SSG reached 34%, supporting strong FY26 momentum. The network expanded to 340 stores, while management targeted ~20% annual distribution growth and linked inventory-turn pressure to higher gold prices.
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Q3 delivered first reported profit, with standalone revenue up 27.4% YoY and pre-Ind AS EBITDA margin of 12.1% excluding inventory gains. December growth accelerated as store productivity and operating leverage improved.
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Standalone revenue grew 37.4% YoY, while pre-interest EBITDA excluding inventory gains turned positive at a 3.1% margin. Customer growth, store additions and operating leverage supported results, despite volatile gold prices and festive-related spending shifts.
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Q1 FY26 revenue rose 41% YoY and adjusted EBITDA margin expanded 1,358 bps; excluding inventory gains, margin was 12.2%. Cash PAT turned positive as same-store sales grew 18.4% and the store network reached 292.