Jewellery retailer BlueStone Jewellery & Lifestyle Limited has reported strong results for the first quarter of FY26. The company posted a massive 630% year-on-year surge in adjusted EBITDA, reaching ₹830 million. Its EBITDA margin improved sharply to 16.8%, compared to just 3.3% in the same quarter last year.
BlueStone also saw its revenue rise by 41% YoY to ₹4,926 million during the quarter. Gross profit grew 48% to ₹2,022 million, with margins touching 41.1%. The company further highlighted a repeat revenue ratio of 50.7%, showing the strength of its customer base.
The retailer continued its aggressive expansion. As of June 30, 2025, BlueStone had 292 stores across 26 states and union territories, up 89 stores compared to last year. Its operations also cover 12,600 pin codes across India, giving it one of the widest reaches among digital-first jewellery players.
Founded as a digital-first venture, BlueStone has grown into India’s second-largest omni-channel jewellery brand. It combines online platforms with physical stores to give customers a seamless shopping experience. The company has also invested heavily in in-house design and manufacturing, with over 75% of its jewellery produced internally.
BlueStone sets itself apart from traditional jewellers by focusing on non-wedding jewellery that appeals to modern buyers. Its designs are aimed at customers in the 25-45 age group, offering stylish and affordable products. The brand also makes use of advanced technology such as 3D rendering and virtual trials to enhance the shopping experience.
The company’s strategy of being a design-led, tech-driven retailer is paying off. With strong store-level performance, rising margins, and rapid growth, BlueStone is positioning itself as a leading name in India’s fast-changing jewellery market.
