Bluestone, the omnichannel jewellery retailer, has announced impressive financial results for the fourth quarter and the full fiscal year ending March 31, 2026. The company reported a remarkable 48% increase in operating revenues, reaching Rs 681 crore in Q4, compared to Rs 461 crore in the same quarter last year.
For the entire fiscal year, Bluestone's revenue from operations climbed 38% to Rs 2,436 crore, up from Rs 1,770 crore in FY25. This growth reflects a strong recovery as the company achieved a net profit of Rs 13 crore, a stark contrast to the Rs 222 crore net loss reported in the previous year.
Quarterly Performance
In Q4 FY26, Bluestone not only increased its revenues but also turned a profit, posting a net profit of Rs 31 crore, a significant improvement from the Rs 51.2 crore net loss recorded in the same quarter last year. This quarter also marked Bluestone's first-ever quarterly profit of Rs 68.8 crore in Q3 FY26.
Cost Management
Despite the revenue growth, the company's expenses rose due to higher input and employee costs. This increase in costs is a common challenge for growing businesses as they scale operations.
Employee Stock Options
On a strategic front, Bluestone issued 129,573 shares valued at Rs 7 crore under its employee stock option plan (Esop). This follows a previous issuance of Esops worth nearly Rs 11 crore, comprising 2.09 lakh equity shares.
Financial Utilization
Since its listing on the exchanges last August, after raising Rs 1,540 crore, Bluestone has effectively utilized Rs 725 crore of the Rs 750 crore allocated for working capital. The total expenditure, including corporate and issue expenses, has reached approximately Rs 763 crore as of March 31, 2026.
Market Performance
As of the latest trading session, Bluestone shares closed at Rs 547.95, reflecting a 1.05% increase on the Bombay Stock Exchange (BSE).
