BLUESTONEConsumer Durables

BlueStone Jewellery and Lifestyle Limited

Gems, Jewellery And Watches · ISIN INE304W01038 · BSE 544484 · NSE EQ · FV ₹1
Last price
₹691
+2.74%today
What this company does

BlueStone Jewellery and Lifestyle Limited operates in Gems, Jewellery And Watches, part of the Consumer Durables sector. It booked ₹745 cr of revenue in its latest quarter (Q2 FY27) and kept -0.4% of sales as profit. It is the 7th largest of 9 Gems, Jewellery And Watches companies we track, by market value.

In the report:
15out of 100
Equitytale Health Score
Fragile

Healthier than 15% of companies in Consumer Durables, on the 5 of 6 measures we could read for it. Each measure is ranked against the 5–45 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
33

At close. Not part of the score.

Profitability & returns7

How much profit it earns on the money it employs

Balance sheet17

How much it owes, and whether earnings cover the interest

Cash quality0

Whether reported profit actually arrives as cash · lowest in its sector on what we could measure

Valuation33

What today's price implies, against our models or its peers

Governance & risk26

How much of the promoters' stake is pledged, and how much they hold

Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Some things to watch
Strengths
✓ Sales up 45% vs last year
Watch-outs
! Currently loss-making
! Thin -0.4% net margin
! 37.2% of promoter stake pledged
! Low -0.7% return on equity

What if I invest in BLUESTONE?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹691▲ +2.74%
latest close · 2026-11-04
52-wk low ₹61774 sessions so far52-wk high ₹970
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/B ratio5.75High
Below bookModerateHigh
EV / EBITDA23.9High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity-0.7%Loss
WeakFairStrong ▸15%
Return on capital7.4%Weak
WeakFairStrong
Net margin-0.4%Loss
ThinDecentStrong
EBITDA margin16.0%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.49Comfortable
LowModerateHigh ▸1
Interest cover0.9×Risky
RiskyOkayStrong ▸5×
Current ratio1.58Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹10,553 cr
Book value
₹120
EPS
₹-0.21
latest quarter
Net debt
₹827 cr
owes more than its cash
Enterprise value
₹11,381 cr
EBITDA
₹477 cr
annualised
EBIT
₹222 cr
annualised
Operating margin
7.4%
Return on assets
-0.2%
Earnings yield
—
P/S
3.54
Sales / share
₹195.0
Tax rate
—
Face value
₹1
Shares
15.3 cr
Working capital
₹1,469 cr
Current assets
₹3,985 cr
Current liabilities
₹2,516 cr
Delivery %
29.7%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
Too few reliable models — the filings don't support two independent estimates of value.

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹745 cr
Other Income₹24 cr
Total Income₹769 cr
Cost of Materials₹588 cr
Purchases of Stock-in-Trade₹5 cr
Inventory Change (±)₹-123 cr
Employee Benefit Expense₹71 cr
Finance Costs₹58 cr
Depreciation & Amortisation₹64 cr
Other Expenses₹109 cr
Total Expenses₹772 cr
Profit before Tax₹-3 cr
Tax Expense₹0 cr
Share of JV / Associates₹-1 cr
Net Profit₹-4 cr
Net margin on total income-0.6%
Where the money goes · Q2 FY27
% of total spend
Materials + stock-in-trade₹470 cr60.9%
Employee benefit expense₹71 cr9.1%
Finance costs₹58 cr7.6%
Depreciation & amortisation₹64 cr8.3%
Other expenses₹109 cr14.2%
Total income ₹769 cr

The company made a net loss of ₹4 cr this quarter — income covered only ₹100 of every ₹100 it spent on costs and tax.

Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue681 cr737 cr745 cr
Total income697 cr752 cr769 cr
Expenses664 cr745 cr772 cr
Profit before tax33 cr7 cr-3 cr
Tax0 cr0 cr0 cr
Net profit (owners' share)32 cr7 cr-3 cr
Net margin (owners' share, on revenue)4.7%0.9%-0.4%
EPS (₹)2.050.46-0.21
YoY (latest quarter): total income +46.5% · net profit —
Balance sheet & cash flow · as of Sep 2026
Low debt
Total assets
₹5,493 cr
Shareholder equity
₹1,836 cr
parent shareholders
Total debt
₹892 cr
Cash
₹64 cr
Cash flow · H1 FY27
Operating
₹8 cr
Investing
₹-21 cr
Financing
₹-29 cr
Peer comparison
Gems, Jewellery And Watches · by market value
CompanyPriceMarket capP/E
Titan Company Limited₹4,562₹4.05 L cr56.9
Kalyan Jewellers India Limited₹508₹52,484 cr37.6
Lalithaa Jewellery Mart Limited₹363₹18,149 cr21.8
PC Jeweller Limited₹15₹14,408 cr10.8
Thangamayil Jewellery Limited₹4,533₹14,088 cr41.4
SKY GOLD AND DIAMONDS LIMITED₹870₹13,478 cr26.3
BlueStone Jewellery and Lifestyle Limitedthis company₹672₹10,272 cr—
P N Gadgil Jewellers Limited₹576₹8,472 cr16.6
Ethos Limited₹2,654₹7,102 cr63.1
Same industry · latest reported numbers · not a recommendation.
Who owns it · 2026-09-30
⚑ 37.2% pledged
Promoter
16.2%
FII / Foreign
34.2%
DII / Domestic
32.5%
Retail / others
17.1%
Promoter stake down 0.1% over the last 6 quarters.
Smart-money activity
Insider trades
SoldHarshit Kulin Desai · Designated Person12,570 · ₹1.1 cr10 Sep 26
SoldRumit Dugar · KMP46,4908 Sep 26
SoldJayesh Saraf · Designated Person353 · ₹3.1 L7 Sep 26
Bulk / block deals
short— · NSE197 Oct 26
short— · NSE610 Aug 26
short— · NSE15 Aug 26
Stake changes
Sold360 One Special Opportunities Fund-Series 1→ 4.59% · 35.14 L24 Sep 26
SoldAccel India III (Mauritius) Ltd→ 5.58% · 28.00 L24 Sep 26
BoughtNippon India Mutual Fund→ 6.30% · 34.70 L9 Jun 26
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 14 Sep 2026
See the official result
1
To receive, consider and adopt the Audited Standalone Financial Statements of the Company together with the reports of the Board of Directors and Auditors thereon for the Financial Year ended March 31, 2026.
Backed by 100% of shareholders other than promotersneeded 50%
6.58 cr votes for, 10 against · 0% of mutual funds and other big investors said no
2
To receive, consider and adopt the Audited Consolidated Financial Statements of the Company together with Auditors Report thereon for the Financial Year ended March 31, 2026.
Backed by 100% of shareholders other than promotersneeded 50%
6.58 cr votes for, 10 against · 0% of mutual funds and other big investors said no
3
To appoint Mr. Amit Jain (DIN: 01613364), as a Non-Executive, Non-Independent Director, in place of Mr. Sameer Dileep Nath (DIN: 07551506), Director liable to retire by rotation, who does not seek re-election.
Backed by 99% of shareholders other than promotersneeded 50%
6.55 cr votes for, 3.61 L against · 1% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 11 named members
owning 16.2% between them · as of 2026-09-30
GAURAV SINGH KUSHWAHA16.01%
ARPITA TOMAR0.19%
Anurag Tomarno shares
Archana Tomarno shares
Arvind Pratap Singh Tomarno shares
Kayna Singh Kushwahano shares
Mina Tomarno shares
Nivaan Singh Kushwahano shares

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹820 cr raised in Aug 2025 by selling shares to the public

The company has not broken this money down into purposes in its filing for Sep 2026, so there is nothing to measure it against yet. Care Ratings Limited watches the spending on the exchange’s behalf.

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.