Bluestone Jewel Q1 FY27 Results (NSE: BLUESTONE)
Signal: Margin expansion
The read
BlueStone delivered robust Q1FY27: revenue up 49% YoY to ₹733 Cr, SSSG of 39%, and Pre IndAS EBITDA margin expanded 273bps to 7.5%, driving Adjusted PAT to ₹14 Cr from a loss of ₹21 Cr last year, marking the first positive quarter in FY27 after a profitable FY26.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹733 Cr | 48.8% | N/A |
| EBIT | ₹55 Cr | 134.6% | |
| Net profit | ₹14 Cr | NM | |
| EBIT margin | 7.5% |
P&L walk
Revenue grew 48.8% YoY, EBITDA margin expanded 273bps on operating leverage, leading to a PAT turnaround.
Key positives
- Revenue growth of 48.8% YoY to ₹733 Cr
- Same Store Sales Growth of 39% YoY
- Pre IndAS EBITDA margin expanded 273bps to 7.5%
- Operating leverage: EBITDA grew 134.6% vs revenue 48.8%
- Adjusted PAT turned positive at ₹14 Cr vs loss of ₹21 Cr last year
- Cash profit of ₹57 Cr for the quarter
- Store network expanded to 352 stores across 139 cities, adding 12 stores in Q1
Key concerns
- Rise in custom duty on gold from 6% to 15% may pressure margins if not fully passed on to consumers
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