BlueStone Q2 FY27: standalone revenue up 43.9% to ₹7,381 mn, H1 revenue up 46.3% with Pre-Ind AS EBITDA up 175.1%
H1 FY27 standalone revenue up 46.3% to ₹14,713 mn; Pre-Ind AS EBITDA up 175.1% to ₹1,083 mn; SSSG 32.9%.
By ScoutQuest · · 1 min read
- H1 standalone revenue
- ₹14,713 mn for H1 FY27, up 46.3%
- Pre-Ind AS EBITDA
- up 175.1% to ₹1,083 mn
- SSSG H1 FY27
- SSSG of 32.9% in H1 FY27
- Period
- H1 & Q2 FY27
- Positioning
- BlueStone describes itself as India's second largest digital-first omni-channel jewellery player, with 379 stores in 146 towns and cities and 95%+ of jewellery produced in-house.
📉 Standalone revenue from operations was ₹7,381 mn in Q2 FY27, up 43.9% YoY, and ₹14,713 mn for H1 FY27, up 46.3%. Pre-Ind AS EBITDA (excl. inventory gain/loss) rose 234.2% to ₹535 mn in Q2, a 7.3% margin, while reported gross margin fell to 36.6% from 39.5%. Adjusted PAT was 196 against (268) a year earlier.
📉 On a consolidated basis Q2 FY27 showed a loss of (43.73) INR mn versus (521.02) a year ago, and H1 profit of 15.88 INR mn. Inventories rose to 30,934.24 INR mn at 30 September 2026 from 26,718.09 at 31 March 2026, and current borrowings increased to 6,563.74 INR mn.
📈 The company positions itself as India's second largest digital-first omni-channel jewellery player, citing a 58.1% repeat ratio and SSSG of 32.9% in H1 FY27. Management states growth came despite volatile gold prices and the festive calendar shifting fully into Q3, and says operating leverage continues to improve margins.
🏭 The presentation lists plans to expand categories, materials and demographic reach to support premium pricing and market share, backed by an omnichannel model and an in-house integrated tech stack the company says drives order value and retention.
Also from BlueStone Jewellery and Lifestyle
BlueStone Q2 FY 2026-27 earnings conference call audio recording hosted on company website
23 Oct 2026
Bluestone management discussed profitability metrics, a planned NCD fundraise of about 300 crore rupees, and market expansion strategy
23 Oct 2026
Bluestone Jewellery's stock fell sharply despite decent same-store-sales growth of 28%
23 Oct 2026
More numbers
- Standalone revenue from operations, Q2 FY27₹ 7,381 mn
- Standalone revenue from operations, H1 FY27₹ 14,713 mn
- Revenue growth YoY, H1 FY2746.3%
- Revenue growth YoY, Q2 FY2743.9%
- Pre-Ind AS EBITDA, H1 FY27₹ 1,083 mn
- Pre-Ind AS EBITDA, Q2 FY27₹ 535 mn
- SSSG, H1 FY2732.9%
- Reported EBITDA, Q2 FY27971 (in INR mn)
- Adjusted PAT, Q2 FY27196 (in INR mn)
- Consolidated profit/(loss), Q2 FY27(43.73) (INR mn)
- Consolidated inventories, 30 Sep 202630,934.24 (INR mn)
- Stores, Sep'26379
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