BlueStone Q1 FY27: Revenue up 49%, EBITDA margin expands 273 bps

BlueStone posted Q1 FY27 revenue of Rs 7,332 Mn, up 48.8% YoY, driven by 39% same-store sales growth and a 21% rise in customer base. Pre-IndAS EBITDA grew 134.6% YoY to Rs 548 Mn, with margin expanding 273 bps to 7.5%, as revenue scaled against a slower-growing cost base. Adjusted PAT swung to Rs 138 Mn profit from a Rs 213 Mn loss a year ago. The retailer added 12 stores to reach 352 across 139 cities, with repeat buyers contributing 59.7% of revenue. A&P spend held at 6.9% of sales. Net debt stood at Rs 4,536 Mn.