BlueStone Jewellery & Lifestyle Reports No Deviation in IPO Fund Utilization for Q4FY26

BlueStone Jewellery & Lifestyle Limited has submitted its quarterly compliance statement to stock exchanges, confirming adherence to regulatory fund utilization norms for the quarter ended March 31, 2026. The filing demonstrates the company's commitment to transparent financial governance following its successful public listing.

IPO Fund Utilization Compliance

Bluestone jewellery & lifestyle filed the mandatory statement under Regulation 32(1) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed no deviation or variation in the utilization of funds raised through its Initial Public Offering for the reporting quarter.

Parameter Details Fund Raising Mode Public Issue – Initial Public Offer Date of Fund Raising August 14, 2025 Amount Raised Rs. 820 Crore Reporting Quarter March 31, 2026 Monitoring Agency CARE Ratings Limited Deviation Status No

Regulatory Framework and Oversight

The company's equity shares have been listed on National Stock Exchange of India Limited and BSE Limited since August 19, 2025. As part of regulatory compliance, listed entities must file quarterly statements confirming the proper utilization of public issue proceeds.

CARE Ratings Limited serves as the monitoring agency for the IPO fund utilization, ensuring adherence to the objects and purposes outlined in the prospectus. The regulatory framework requires companies to report any deviation in fund usage, changes in contract terms, or variations from originally disclosed utilization patterns.

Management and Audit Oversight

The statement was signed by Managing Director Gaurav Singh Kushwaha (DIN: 01674879) and Chief Financial Officer Rumit Dugar on April 23, 2026. Both the audit committee and company auditors provided no adverse comments regarding the fund utilization during the quarter.

The filing confirms that no modifications were made to the original objects for which funds were raised, and no shareholder approval was required for any changes in fund deployment. This demonstrates the company's disciplined approach to capital allocation as per the IPO prospectus commitments.

Corporate Governance Standards

The quarterly compliance filing reflects BlueStone's adherence to corporate governance standards mandated for listed entities. The company maintains transparency in fund utilization reporting, with regular monitoring by designated agencies and internal audit mechanisms.

The statement format prescribed by SEBI ensures standardized reporting across all listed entities, enabling investors and regulators to track fund deployment effectively. BlueStone's clean compliance record for the quarter reinforces investor confidence in the company's financial management practices.

BlueStone Jewellery and Lifestyle Limited has achieved a significant milestone by delivering its first full year of positive reported PAT, with Q4FY26 standalone revenue reaching ₹6.88 billion, representing a robust 49.1% year-over-year growth. The company reported a net profit of ₹36.4 crores in Q4FY26 compared to a loss of ₹48.6 crores in the corresponding quarter of the previous year.

Strong Revenue Performance and Profitability Turnaround

BlueStone's Q4FY26 performance demonstrates the strength of its omnichannel business model, with revenue from operations at ₹687.7 crores versus ₹461.3 crores in Q4FY25. The company achieved strong same store sales growth (SSSG) of 34% year-over-year for the quarter, reflecting robust consumer demand for its design-driven product portfolio.

Financial Performance: Q4FY26 Q4FY25 YoY Change Revenue from Operations: ₹687.7 crores ₹461.3 crores +49.1% Reported PAT: ₹36.4 crores Loss ₹48.6 crores Profit turnaround Same Store Sales Growth: 34% - Strong momentum

Exceptional EBITDA Growth and Margin Expansion

The company's operational efficiency showed remarkable improvement with Adjusted EBITDA reaching ₹147.4 crores compared to ₹42.9 crores in the previous year, marking a substantial 243.1% year-over-year increase. The Adjusted EBITDA margin expanded significantly to 21.4% from 9.3% in Q4FY25, demonstrating enhanced profitability and operational leverage.

EBITDA Metrics: Q4FY26 Q4FY25 Change Adjusted EBITDA: ₹147.4 crores ₹42.9 crores +243.1% YoY Adjusted EBITDA Margin: 21.4% 9.3% +1213 bps Cash Profit: ₹82 crores - Significant generation

Full Year FY26 Performance Highlights

For the full financial year FY26, BlueStone delivered exceptional growth with revenue from operations reaching ₹2,441.2 crores compared to ₹1,770.0 crores in FY25, representing a 37.9% year-over-year increase. The company achieved its first full year of positive reported PAT at ₹26.0 crores versus a loss of ₹219.2 crores in FY25.

Annual Performance: FY26 FY25 YoY Change Revenue from Operations: ₹2,441.2 crores ₹1,770.0 crores +37.9% Adjusted EBITDA: ₹492.5 crores ₹130.5 crores +277.3% Adjusted EBITDA Margin: 20.2% 7.4% +1280 bps Reported PAT: ₹26.0 crores Loss ₹219.2 crores Milestone achievement

Store Expansion and Geographic Reach

BlueStone's distribution network continued to scale effectively, with the company operating 340 stores across 134 cities as of Q4FY26, adding 65 stores during the financial year. The company added 17 stores during Q4FY26 alone, demonstrating continued expansion momentum in its omnichannel strategy.

Store Network: Q4FY26 Q4FY25 Growth Total Stores: 340 275 +65 stores YTD Cities Covered: 134 117 +17 cities Quarterly Addition: 17 stores - Sequential expansion

Management Commentary and Future Outlook

CEO Gaurav Singh Kushwaha highlighted that this year marks a significant milestone as the company delivered its first full-year of reported net profit, representing an inflection point in the company's profitability journey. He emphasized the strong operating leverage in the business, reflecting in Adjusted EBITDA growth of 277.3% year-over-year for FY26, and noted that the company generated significant standalone cash profit of ₹82 crores for the quarter.

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