Key Metrics 
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10 Yrs X-Ray 
Valuation 
Analyst Note 
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About
Bluestone Jewellery And Lifestyle Ltd (BLUESTONE)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544484 NSE: BLUESTONE Diamond & Jewellery | Small Cap | Bluestone Jewellery Share Price
₹890.30 35.35 (4.13%)
As on 11-Sep'26 16:01
Bluestone Jewellery And Lifestyle Ltd (BLUESTONE)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544484 NSE: BLUESTONE Diamond & Jewellery | Small Cap | Bluestone Jewellery Share Price
₹890.30 35.35 (4.13%)
As on 11-Sep'26 16:01
Key Metrics
Valuation Multiples
Market Cap
₹13,062 Cr.
Current Price
₹890.3
52-Week Low / High
₹400 / 927
TTM EPS
₹3.7
TTM Sales
₹2,681 Cr.
Book Value per Share
₹107.6
P/E Ratio
231.93
Industry PE
53.9
Price to Book (P/B)
7.95
Higher than its 5-year historical median
Price to Sales (P/S)
4.87
Higher than its 5-year historical median
EV/EBITDA
27.49
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
1.09%
Underperforms industry median
Return on Capital Employed (ROCE)
9.24%
Outperforms industry median
Return on Assets (ROA)
0.31%
Operating Profit Margin
16%
Net Profit Margin
0.54%
Gross Profit Margin
9.4%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
37.92%
Operating Profit Growth (1 Year)
-
411.92%
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
16.25%
Pledged shares (%) of Promoter's holding (%)
37.21%
Reserves
₹1,628 Cr.
Equity
₹15.3 Cr.
Face Value
₹1
All Time Low / High
₹400.40 / 926.70
Check Before You Invest
Quality
Not GoodValuation
OvervaluedCheck Valuation charts
Price Trend
Strong
Is Bluestone Jewellery And Lifestyle Ltd a good quality company?
Bluestone Jewellery And Lifestyle Ltd is a weak quality company, based on a inconsistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Bluestone Jewellery And Lifestyle Ltd performance compare with that of its Peers?
Revenue growth of Bluestone Jewellery And Lifestyle Ltd vs industry peers?
Bluestone Jewellery And Lifestyle Ltd revenue CAGR is 58.43%, compared to the industry median CAGR of 6.25%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Bluestone Jewellery And Lifestyle Ltd?
Promoters hold 16.25% of the Bluestone Jewellery And Lifestyle Ltd, with 37.21% of their stake pledged, indicating high pledge risk.
Stock return of Bluestone Jewellery And Lifestyle Ltd over the last decade?
Over the last 1 year(s), the stock has delivered a CAGR of 30.53% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Bluestone Jewellery And Lifestyle Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | -157.8% | -100.8% | -128.4% | -57.3% | -96.9% | -2,432.5% | -42.3% | -0.5% | -0.7% | 9.7% | - |
| Value Creation Index ⓘ | -12.7 | -8.5 | NA | -5.2 | NA | NA | NA | -1.0 | -1.1 | -0.3 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 113 | 179 | 196 | 255 | 245 | 461 | 771 | 1,266 | 1,770 | 2,441 | 2,682 |
| Sales YoY Gr. | - | 58.9% | 9.4% | 30.4% | -4.1% | 88.7% | 67.1% | 64.2% | 39.8% | 37.9% | - |
| Adj EPS ⓘ | -79.2 | -65 | -54.6 | -19.4 | -34.2 | -698.8 | -92 | -79.1 | -61.8 | 1.9 | 4.6 |
| YoY Gr. | - | NA | NA | NA | NA | NA | NA | NA | NA | NA | - |
| BVPS (₹) ⓘ | 57.6 | 20.3 | -5.2 | 2.8 | -640.9 | -1,020.8 | -65.8 | 161.2 | 226.4 | 108.7 | 109 |
| Adj Net Profit ⓘ | -98.5 | -80.9 | -50.3 | -24.2 | -31.5 | -1,269 | -167 | -144 | -218 | 28.2 | 70 |
| Cash Flow from Ops. ⓘ | -110 | -71.5 | -40.1 | -18.5 | 38.7 | 25.1 | 27.1 | -181 | -665 | -174 | - |
| Debt/CF from Ops. ⓘ | -0.2 | -0.1 | -0.4 | -0.7 | 14.9 | 77.1 | 16.6 | -4.8 | -1.7 | -5.9 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 40.8% | 58.4% | 46.9% | 37.9% | ||||
| Adj EPS ⓘ | NA | NA | NA | NA | ||||
| BVPSⓘ | 7.3% | NA | NA | -52% | ||||
| Share Price | - | - | - | 38.9% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | -198.2 | -131.4 | -174.7 | -115.6 | 11.6 | 105.4 | 17.5 | -95 | -33.8 | 2.1 | 4.2 |
| Op. Profit Mgn % ⓘ | -83 | -42.8 | -26.2 | -7.2 | -6.8 | -267.9 | -7.2 | 4.2 | 4.4 | 16.2 | 16.7 |
| Net Profit Mgn % ⓘ | -87.5 | -45.2 | -25.7 | -9.5 | -12.9 | -275 | -21.7 | -11.3 | -12.3 | 1.2 | 2.6 |
| Debt to Equity ⓘ | 0.2 | 0.3 | 11.8 | 1.3 | -1 | -1 | -4 | 2.7 | 1.4 | 0.6 | - |
| Working Cap Days ⓘ | 79 | 81 | 90 | 93 | 135 | 136 | 188 | 331 | 413 | 411 | 247 |
| Cash Conv. Cycle ⓘ | 23 | 22 | 21 | 24 | 44 | 56 | 107 | 169 | 244 | 303 | 96 |
Valuation of Bluestone Jewellery - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 37.21 | 37.21 | 37.21 | 37.21 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|
| Sales | 1,266 | 1,770 | 2,436 |
| Operating Expenses ⓘ + | 1,212 | 1,694 | 2,050 |
| Operating Profit ⓘ | 53 | 76 | 387 |
| Operating Profit Margin (%) | 4.2% | 4.3% | 15.9% |
| Other Income ⓘ + | 38 | 60 | 53 |
| Interest ⓘ | 138 | 208 | 211 |
| Depreciation ⓘ | 95 | 147 | 210 |
| Profit Before Tax ⓘ | -142 | -222 | 13 |
| Tax ⓘ | 0 | 0 | 0 |
| Profit After Tax | -142 | -222 | 13 |
| PAT Margin (%) | -11.2% | -12.5% | 0.5% |
| Adjusted EPS (₹) | -78.3 | -62.9 | 1.0 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% |
| PARTICULARS | Mar'24 | Mar'25 | Mar'26 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 319 | 817 | 1,636 | ||||||||
| Debt + | 698 | 727 | 754 | ||||||||
| Minority Interest | 0 | 4 | 2 | ||||||||
| Trade Payables | 217 | 165 | 160 | ||||||||
| Others Liabilities ⓘ | 1,220 | 1,820 | 2,408 | ||||||||
| Total Liabilities ⓘ | 2,453 | 3,532 | 4,961 | ||||||||
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 585 | 1,013 | 1,134 | ||||||||
| CWIP ⓘ | 17 | 5 | 3 | ||||||||
| Investments ⓘ | 0 | 59 | 47 | ||||||||
| Inventories | 991 | 1,653 | 2,672 | ||||||||
| Trade Receivables | 2 | 6 | 8 | ||||||||
| Cash Equivalents | 106 | 187 | 512 | ||||||||
| Others Assets ⓘ | 752 | 610 | 586 | ||||||||
| Total Assets ⓘ | 2,453 | 3,532 | 4,961 | ||||||||
| PARTICULARS | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | -181 | -666 | -199 |
| Cash Flow From Investing Activity ⓘ + | -382 | -84 | -239 |
| Cash Flow From Financing Activity ⓘ + | 595 | 740 | 497 |
| Net Cash Flow ⓘ | 32 | -10 | 59 |
| PARTICULARS | Mar'24 | Mar'25 | Mar'26 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -48.58 | -40.94 | 1.09 | |||||||
| ROCE (%) | -0.34 | -0.84 | 9.24 | |||||||
| Asset Turnover Ratio | 0.52 | 0.59 | 0.57 | |||||||
| PAT to CFO Conversion(x) | N/A | N/A | -15.31 | |||||||
| Working Capital Days | ||||||||||
| Receivable Days | 0.70 | 0.80 | 1 | |||||||
| Inventory Days | 285.80 | 272.60 | 323.90 | |||||||
| Payable Days | 104.90 | 63.40 | 42.60 | |||||||
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Bluestone Jewellery And Lifestyle Ltd FAQs
The current trading price of Bluestone Jewellery on 11-Sep-2026 16:01 is ₹890.3.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 10-Sep-2026 the market cap of Bluestone Jewellery stood at ₹13,061.8 Cr
The latest P/E ratio of Bluestone Jewellery as of 10-Sep-2026 is 186.8.
The latest P/B ratio of Bluestone Jewellery as of 10-Sep-2026 is 7.84.
The 52-week high of Bluestone Jewellery is ₹926.7 and the 52-week low is ₹400.4.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Bluestone Jewellery is ₹2,682 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Bluestone Jewellery And Lifestyle Ltd is a below average quality company.
The key valuation ratios of Bluestone Jewellery And Lifestyle Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Bluestone Jewellery And Lifestyle Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing
About Bluestone Jewellery And Lifestyle Ltd
Bluestone Jewellery and Lifestyle Limited was originally incorporated as ‘New Age E Commerce Services Private Limited’, a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation issued by the RoC on July 22, 2011. Subsequently, the name of the company was changed to ‘BlueStone Jewellery and Lifestyle Private Limited’, pursuant to a fresh certificate of incorporation issued by the RoC on November 25, 2013. Thereafter, the company was converted to a public limited company and the name of the company was changed to ‘BlueStone Jewellery and Lifestyle Limited’ pursuant to a fresh certificate of incorporation dated November 8, 2024 issued by the RoC.
The company offers contemporary lifestyle diamond, gold, platinum and studded jewellery under its flagship brand, BlueStone. It is a digital first direct-to-consumer (DTC) brand focussed on ensuring a seamless omnichannel experience for customers and are the second largest digital-first omni-channel jewellery brand in India. It retails its products through its website www.bluestone.com and its mobile application available on iOS and Google Play Store, in addition to its pan-India network of stores.
Its wide range of product offerings includes rings, earrings, necklaces, pendants, solitaires, bangles, bracelets and chains cater to diverse customer segments and are retailed at varied price points. It offers customers an omni-channel experience with an endeavour to ensure a smooth and consistent shopping experience across various touchpoints. Its omni-channel approach caters to customers preferences and convenience and endeavours to ensure that the purchase of jewellery is a personalized and intimate experience. In its experience, an omni-channel approach allows customers to have a cohesive shopping experience by offering them the ability to browse its products online, get assistance in-store, and make purchase decisions either online or at its stores in-person.
Business area of the company
The company offers contemporary lifestyle diamond, gold, platinum and studded jewellery under its flagship brand, BlueStone. The company carries on its business under the brand name of ‘BlueStone’.
History and milestones
- 2011: Establishment of the company’s first office at Bengaluru, Karnataka
- 2012: Commencement of the company’s online channel of business.
- 2012: Establishment of the company’s office in Mumbai, Maharashtra.
- 2012: Establishment and expansion of the manufacturing unit in Mumbai, Maharashtra.
- 2014: Online retail channel expanded to cover 12,600 PIN codes.
- 2015: Establishment of additional manufacturing facility in Mumbai, Maharashtra.
- 2018: Commencement of omnichannel business model with the launch of first exclusive brand outlet in New Delhi.
- 2021: Establishment of 50th store.
- 2022: Establishment of 100th store.
- 2022: Establishment of additional manufacturing facility in Jaipur, Rajasthan.
- 2023: Establishment of 150th store.
- 2024: Achieved store retail presence across 26 states / union territories.
- 2024: Crossed annual revenue of Rs 10,000 million in Fiscal 2024.
- 2024: Onboarding of more than half million customers since incorporation.
- 2024: Establishment of 250th store.
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