Bluestone Jewellery And Lifestyle Limited · NSE:BLUESTONE
Bluestone Jewellery And Lifestyle — Q3 FY2026 Earnings Presentation
35 slides from Bluestone Jewellery And Lifestyle's earnings presentation, Jan 22, 2026
Slide 1: Regulation 30 intimation letter to stock exchanges
January 22, 2026 To, BSE Ltd. National Stock Exchange of India Ltd. Listing Department, Exchange Plaza, P. J. Towers, Dalal Street, Bandra-Kurla Complex, Mumbai – 400 001. Bandra (E), Mumbai – 400 051. (Scrip Code: Equity - 544484), (Symbol: BLUESTONE, Series EQ) Dear Sirs/ Madam, Sub.: Intimation u
Slide 2: Investor Presentation Q3 & 9M FY26
Investor Presentation Q3 & 9M FY26
Slide 3: Disclaimer
Disclaimer Prospective investors should be aware that investing in equity shares involves a significant level of risk . For detailed information regarding such risks, potential investors are advised to refer to the section titled "Risk Factors" in the Prospectus . It is crucial to note that certain
Slide 4: Table of Contents
Table of Contents BlueStone at Business Financial 01 a Glance 02 Overview 03 Performance 3
Slide 5: BlueStone at a Glance
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Slide 6: India's second largest 'digital first' omni-channel jewellery player
India’s second largest ‘digital first’ omni -channel jewellery player 51.4% 32.1% 23.83 % Fastest Growing1 with Strong Unit Economics Revenue CAGR (FY23 -25) SSSG (FY25) Adjusted EBITDA % of FY19/20 cohort stores #2 28 -32% Market Leader Digital -first omni -channel jewellery brands in India (FY24)
Slide 7: Tracing Our Growth..
Tracing Our Growth.. Onboarded 0.5mn+ customers since incorporation Online retail Commenced omni - Established Jaipur 1st office at channel expanded channel business model facility and Crossed annual Bangalore to cover 12,600 PIN with launch of first EBO inaugurated 100th revenue of INR 10bn codes i
Slide 8: Differentiating BlueStone's Jewellery from Traditional Offerings
Differentiating BlueStone’s Jewellery from Traditional Offerings Target Shift from wedding to non -wedding wear, delivering style, convenience, & value for the modern consumer Customers 25 to 45 years of age Category by Purity & Average Gross Repeat Revenue Projected Occasion Weight Selling Price Ma
Slide 9: Business Overview
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Slide 10: Our Strengths
Our Strengths Leading player: India’s second largest omni -channel digital first jewellery brand 1 Differentiated Approach to Product and Design 2 In -house Technology Architecture Driving End -to-End Business Operations 3 Advanced Manufacturing Capabilities with Vertically Integrated Operations 4 P
Slide 11: Successful Omnichannel Strategy for a Cohesive Customer Experience
1 Successful Omnichannel Strategy for a Cohesive Customer Experience Integrating online and Browse online Seek in -store assistance Complete purchase (online or in -person) offline touchpoints One brand, Many touchpoints - Discover anywhere, Buy anywhere Attracting Customers Engaging Customers Retai
Slide 12: Omnichannel as a Catalyst for Sales Growth
1 Omnichannel as a Catalyst for Sales Growth Offline stores boost omni -channel sales A Case Study - Impact of omni -channel model on revenue growth in Ranchi, Jharkhand Introduction of omni -channel model 188 3.5 Brand trust drives Offline stores bridge 3 shift to online the need for tactile purcha
Slide 13: Product & Design at the Core
2 Product & Design at the Core Differentiated Approach to Product and Design Contemporary Affordable designs Lightweight Website/app lets designs and starting at ₹5,000, designs are ideal customers browse reimagined make BlueStone a for ‘non -wedding’ anytime and purchase traditional jewellery go -t
Slide 14: Pioneering Tech-Driven Jewellery Shopping Experience
3 Pioneering Tech -Driven Jewellery Shopping Experience BlueStone leverages cutting -edge digital tools to make online jewellery shopping as engaging as in -store Immersive visuals that bring the in -store experience online Seamless transaction experience 3D Rendering 360 Video Unified customer view
Slide 15: In-house technology bringing efficiency and agility
3 In -house technology bringing efficiency and agility Building a digitally -native company DESIGNING MANUFACTURING MERCHANDIZING RETAILING Complete autonomy with designers; Dedicated prototype Algorithm -driven, data -led Omnichannel not merchandizer led facility approach retailing identify custome
Slide 16: In-House Tech & Infrastructure Powering Agile Design-to-Store
4 In -House Tech & Infrastructure Powering Agile Design -to-Store Operational manufacturing facilities Fastest Accelerate new design launches Scale production quickly Manufacturing -to- In-house design team & in -house Vertical integration enabling quality shelf Turnaround manufacturing control Time
Slide 17: Offline Stores Boost Omnichannel Sales
5 Offline Stores Boost Omnichannel Sales Robust Pan -India Footprint Driving Scalable Growth Located in high -visibility areas with standardised look and feel 168 new stores States & UTs 169 26 145 Offer touch -and -feel benefit for “online 89 77 88 influenced” sales 46 53 66 20 PIN codes serviced O
Slide 18: Leveraging the internet to become a one-of-a-kind digital jewellery brand
Leveraging the internet to become a one -of-a-kind digital jewellery brand Designs become heroes Traditional Playbook vs. BlueStone Approach Celebrity brand ambassadors, heavy ATL (TV, Print) spends 100% digital-first, design -led, customer experience How We Win Online? Design Differentiation Digita
Slide 19: Brand Building With Marketing Edge
Brand Building With Marketing Edge BlueStone’s Strong Gross Margins are Enabling it to Redefine Marketing in the Digital Era Building the BlueStone Brand Brand Trust Digital Marketing Incentive / Loyalty Schemes ▪ Communicating BlueStone’s values ▪ 1-0-1 customer outreach drives ▪ Gold Mine 10+1 Pla
Slide 20: Experienced Board Driving Strategic Oversight
6 Experienced Board Driving Strategic Oversight Gaurav Singh Prashanth Prakash Sameer Dileep Nath Kushwaha Chairman, MD and Non -Executive Non -Executive CEO Nominee Director Nominee Director Prior : Tavant Tech, Amazon Experience : Accel India Experience : 360One, Citi Education : IIT Delhi Educati
Slide 21: Guided by Able Leadership to Drive Sustained Growth
6 Guided by Able Leadership to Drive Sustained Growth Gaurav Singh Sudeep Nagar Vipin Sharma Rumit Dugar Kushwaha Chairman, MD and Chief Financial Chief Operating Chief Merchandising CEO Officer Officer Officer Prior : Tavant Prior : Tavant Tech, Amazon Tech, Amazon Prior : JP Morgan, Infosys Prior
Slide 22: Financial Performance
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Slide 23: Key Financial and Operational Highlights
Key Financial and Operational Highlights Q3FY26 | Standalone Revenue +27.4% YoY at INR 7,479mn; +34.0% YTD Revenue recognised on secondary sales basis (even for franchise stores) Adjusted EBITDA +169.7% YoY at INR 1,908mn; +295.9% YTD margin +1346bps YoY at 25.5%;+1302bps YTD Inventory gain of INR 5
Slide 24: Performance Update and Growth Trends
Performance Update and Growth Trends Q3FY26 On Trends • December exit revenue growth of ~ 35% YoY • Underlying growth trend intact at 35%-40%; Q4FY 26 growth trending better than Q3 • January revenues trending better than~ 35% YoY, indicating strong underlying growth • December SSSG in mid -teens ;
Slide 25: Financial Snapshot (1/2)
Financial Snapshot (1/2) Standalone Revenue from operations Gross Profit INR mn +27.4% YoY INR mn % of revenue from operations +55.0% YoY 17,536 +45.8% QoQ +66.7% QoQ 8,000 7,432 60.0% 13,087 7,000 45.2% 37.2% 39.5% 50.0% 6,000 4,935 40.0% 7,479 5,000 5,871 42.4% 3,382 5,131 4,000 37.7% 30.0% 3,000
Slide 26: Financial Snapshot (2/2)
Financial Snapshot (2/2) Standalone Contribution Margin Advertising and Marketing cost INR mn % of revenue from operations +75.0% YoY INR mn % of revenue from operations +3.8% YoY +72.0% QoQ +0.9% QoQ 6,666 1,400 1,220 1,184 12% 7,000 41.2% 50% 1,200 6,000 34.9% 45% 8.2% 10% 30.0% 40% 1,000 7.0% 5,0
Slide 27: Our Robust Operations
Our Robust Operations Standalone Repeat Revenue Ratio Number of Customers (life till date) % +1189bps YoY # +25.6% YoY +642bps QoQ +5.2% QoQ 9,03,068 8,58,457 9,03,068 57.8% 7,19,248 7,19,248 53.9% 51.4% 44.4% 45.9% 9M FY25 9M FY26 Q3 FY25 Q2 FY26 Q3 FY26 9M FY25 9M FY26 Q3 FY25 Q2 FY26 Q3 FY26 Stor
Slide 28: Performance Snapshot
Performance Snapshot Standalone Y-o-Y Q-o-Q Y-o-Y Particulars (in INR mn ) Q3 FY26 Q3 FY25 Q2 FY26 9M FY26 9M FY25 Growth growth Growth Revenue 7,479.0 5,870.9 27.4% 5,130.9 45.8% 17,535.7 13,087.0 34.0% Gross profit 3,381.5 2,182.2 55.0% 2,028.8 66.7% 7,432.4 4,934.8 50.6% Gross margin % 45.2% 37.2
Slide 29: Strong Pre-IND AS performance
Strong Pre -IND AS performance Standalone Pre-IND AS EBITDA Y-o-Y Q-o-Q Y-o-Y Particulars (in INR mn ) Q3 FY26 Q3 FY25 Q2 FY26 9M FY26 9M FY25 Growth growth Growth Profit / (Loss) before tax 714.5 (268.8) NM (491.1) NM (104.4) (1,705.7) NM Finance cost 523.6 526.8 -0.6% 522.3 0.2% 1,573.6 1,530.7 2.
Slide 30: Thank You
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Slide 31: Annexure
Annexure 30
Slide 32: Robust Store-Level Performance with Healthy Unit Economics
Robust Store -Level Performance with Healthy Unit Economics Performance 3 months INR 8.8 mn 12.0% INR 72,984 73.8% Indicators SSSG % 1 Breakeven of 75%of stores Average revenue per store AOV (Q3 FY26) One of the highest GMROI (Q3 FY26) p.m. for operational >3 years 2.3x 2 of FY23 among peers 3 (FY25
Slide 33: Profit & Loss Statement (Standalone)
Profit & Loss Statement Standalone | INR mn Quarter ended Nine months ended Year ended Particulars 31-12-2025 30 -09 -2025 31-12-2024 31-12-2025 31-12-2024 31-03 -2025 (Unaudited) (Unaudited) (Audited) (Unaudited) (Audited) (Audited) Income Revenue from operations 7,479.00 5,130.93 5,870.92 17,535.7
Slide 34: Profit & Loss Statement (Consolidated)
Profit & Loss Statement Consolidated | INR mn Quarter ended Nine months ended Year ended Particulars 31-12-2025 30 -09 -2025 31-12-2024 31-12-2025 31-12-2024 31-03 -2025 (Unaudited) (Unaudited) (Audited) (Unaudited) (Audited) (Audited) Income Revenue from operations 7,486.47 5,136.27 5,870.92 17,549
Slide 35: For further information please contact
For further information please contact: BlueStone Jewellery & Lifestyle Limited investor.relations@bluestone.com EY LLP Investor Relations Diwakar Pingle: Diwakar.Pingle@in.ey.com Rhea Dharia: Rhea.Dharia@in.ey.com Avantika Mishra: Avantika.Mishra@in.ey.com 34
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