BlueStone Zooms 20% After Reporting Third Consecutive Profitable Quarter
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Shares of omnichannel jewellery major BlueStone rallied as much as 20% to touch an intraday high of ₹729 on the BSE today following the company’s financial disclosures for Q1 FY27.
As of 14:15 IST, shares of the company were trading 18.4% higher at ₹722. The company’s market capitalisation stood at ₹10,972 Cr (about $1.1 Bn).
The Accel-backed D2C company reported a net profit of ₹6 Cr in the first quarter of FY27, as against a net loss of ₹34.7 Cr in the year-ago period. However, its PAT declined 80% on a sequential basis from ₹31.2 Cr in Q4 FY26.
Meanwhile, operating revenue grew 50% YoY and 8% QoQ to ₹736.8 Cr.
BlueStone said that its standalone adjusted PAT for the quarter stood at ₹14 Cr compared to a loss of ₹21 Cr in the year-ago period. Moreover, it saw a 39% YoY same store sales growth (SSSG), noting that consumer demand remained resilient despite gold price volatility.
The company added 12 new stores and entered five new Tier-II and Tier-III cities in the quarter, increasing the total store count to 352 across 139 cities. Moving forth, the company is seeing considerable headroom for growth in the non-metro markets and plans to further double down on existing markets.
BlueStone plans to grow its store count to 706 by FY30 and sees its D2C website as a discovery channel in the long run. The management expects same-store sales growth to become an increasingly important driver, even as new store additions continue.
It said that repeat customers accounted for nearly 60% of its revenue, supporting its operating leverage by enabling growth at a lower customer acquisition cost.
In its investor day presentation presented in June, the company projected an annual revenue of ₹12,000 Cr in FY30, almost 5X of its FY26 total revenue of ₹2,486 Cr.
Back then, JM Financial maintained a ‘Buy’ rating on the stock, citing a shift in consumer demand from wedding jewellery to lifestyle jewellery as a key growth driver, a trend it said is benefiting organised players like BlueStone.
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