BlueStone Jewellery and Lifestyle Limited has informed the Exchange regarding 'under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Management CommentaryManagement Commentary'.
BLUESTONE · price
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Awaiting price reaction for this filing.
BlueStone reported Q2 FY26 standalone revenue of INR 5,131 mn, up 37.4% year-on-year, driven by festive demand in late September and a wider distribution reach. Adjusted EBITDA jumped 1,312% YoY to INR 714 mn with margin expanding 1,255 basis points to 13.9% (from 1.4% in Q2 FY25). Core contribution margin (excluding inventory gains) improved 327 bps to 31.8% YoY despite a lower studded jewellery mix of 62%. Same-store sales growth was 11.1% YoY on a high comparison base of 43.8% in the year-ago quarter. The company added 19 new stores to reach 311 stores across 127 cities, with customer base growing 31% YoY to over 858,000. Management explicitly declined to provide any forward earnings guidance, focusing instead on long-term ROCE and ROE improvements.
Strong revenue growth, sharp margin expansion, and improving cash PAT signal a clear operating leverage story as the store network matures. Net debt turned negative (INR -542 mn) post the public issue, strengthening the balance sheet. Short-term, the stock may react positively to the margin beat, though reported PAT remains negative and ROCE is still marginally negative due to ongoing store expansion.