Bluestone Jewellery & Lifestyle Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Bluestone Jewellery & Lifestyle Ltd trades at ₹809, in a confirmed uptrend and 11 weeks into that stage. That is +26.4% against its own 200-day average. It sits at 83% of a 52-week range of ₹411 to ₹890. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 14 straight weeks.

Today the stock is in a confirmed uptrend — week 11 of stage 2, confirmed. At ₹809 it trades +26.4% versus its 200-day average and sits at 83% of its 52-week range (₹411–₹890).

Against the market, two honest reads. Cumulative: over the last 1.1 years the stock moved +48% while the NIFTY 500 moved −1% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 14 straight weeks — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Bluestone Jewellery & Lifestyle Ltd trades at 212.0× P/E, near the bottom of its own range — cheaper only 18% of the time. Its long-run median P/E is 221.3×, measured across 0.2 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 212.0× is near the bottom of its own range — cheaper only 18% of the time, against a long-run median of 221.3× measured over 0.2 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Bluestone Jewellery & Lifestyle Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 6 quarters across 1 curve, on partial evidence.

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

4-Factor Sector Score

48.2/100 — rank 13 of 18 in Diamond Gems and Jewellery · 59% evidence confidence

Bluestone Jewellery & Lifestyle Ltd scores 48.2 out of 100 against the 18 companies it is compared with in Diamond Gems and Jewellery, ranking 13. Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

The four contributions add to the total exactly: 23.5 + 4.7 + 8.7 + 11.3 = 48.2. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

Bluestone Jewellery & Lifestyle Ltd reported ₹737 Cr of revenue in the Jun 26 quarter, +49.6% year on year. That is the 5th straight quarter of year-on-year growth. Over 1 years it has compounded at 37.6% a year. The last full year, FY26, came in at ₹2,436 Cr. The last four reported quarters add to ₹2,681 Cr.

FY26 revenue came in at ₹2,436 Cr (+37.6% on the year), capping 1 years at 37.6% compound. The latest quarter (Jun 26) printed ₹737 Cr, +49.6% year on year — the 5th consecutive quarter of year-over-year growth.

Pace check: the last four quarters averaged +40.6% growth against the decade's 37.6% — the current year is running faster than its own long-run rate.

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Bluestone Jewellery & Lifestyle Ltd's operating margin is 14.5% in the Jun 26 quarter, +3.4 percentage points against the same quarter a year ago.

The latest quarter's operating margin is 14.5%, +3.4 pp against the same quarter a year ago. Across 2 fiscal years the operating margin has ranged 4.3%–16.0%.

Why the margin moved: operating margin went +3.4 pp year on year while gross margin went −0.3 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Bluestone Jewellery & Lifestyle Ltd earned ₹6.0 Cr of net profit in the Jun 26 quarter. Full-year FY26 profit was ₹13.0 Cr. That is 0.8% of the quarter's revenue. The same quarter a year earlier lost ₹34.8 Cr. 6 of the last 9 reported quarters were loss-making.

Jun 26 profit was ₹6.0 Cr, null year on year. On the full year, FY26 printed ₹13.0 Cr (null).

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Bluestone Jewellery & Lifestyle Ltd's cash-flow history is too thin to judge how much reported profit converts into cash. In FY26 that was ₹−199 Cr of operating cash against ₹13.0 Cr of profit. After ₹329 Cr of capital spending, ₹−528 Cr was left as free cash. Cash resolution here is annual, because quarterly cash statements are not published.

FY26: operating cash of ₹−199 Cr against reported profit of ₹13.0 Cr, leaving free cash of ₹−528 Cr after ₹329 Cr of capital spending.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

Router verdict: the bigger cash user is investment — capital spending ran 1.6× depreciation over three years, so the next section's job is to check what that build-out is buying.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Bluestone Jewellery & Lifestyle Ltd's cash conversion cycle runs 659 days in FY26, up from 496 days in FY25. Capital spending ran ₹329 Cr over the last 1 years. At FY26 sales of ₹2,436 Cr each day of that cycle holds about ₹6.7 Cr, so roughly ₹4,398 Cr sits inside the business at any moment.

FY26: debtors at 1 days, inventory at 700 days — roughly 23.0 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 659 days, looser than FY25's 496.

The full loop: cash goes out to suppliers and production on day 0; stock waits 700 days to sell; customers pay about 1 days after that; and suppliers themselves are paid at 42 days — netting out to the 659-day cycle.

In money terms: at FY26 sales of ₹2,436 Cr, each day of the cycle holds about ₹6.7 Cr — so the 659-day loop keeps roughly ₹4,398 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹329 Cr over the last 1 fiscal years against ₹210 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹3.0 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Bluestone Jewellery & Lifestyle Ltd earns a ROCE of 7% in FY26. Return on invested capital clears the cost of that capital by −7.8 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 0.5% net margin on 0.49× asset turns.

FY26 ROCE is 7%.

🚨 Why the return is what it is — the wiring (FY26): 0.5% net margin × 0.49× asset turns × 2.76× balance-sheet leverage ≈ 0.7% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 4.2% − 12.0% = a −7.8 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.

Bluestone Jewellery & Lifestyle Ltd carries total debt of ₹1,984 Cr against shareholder equity of ₹1,803 Cr as of Jun 26, a debt-to-equity of 1.10. On the annual view that ratio went from 2.10 in FY25 to 1.10 in FY26. Read the returns elsewhere on this page with that leverage in mind.

Jun 26: total debt of ₹1,984 Cr against shareholder equity of ₹1,803 Cr — a debt-to-equity of 1.10. On the annual view, debt-to-equity went from 2.10 (FY25) to 1.10 (FY26). Read the returns on this page with that leverage in mind.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

No holder of Bluestone Jewellery & Lifestyle Ltd moved a full percentage point over the last two years — the register is quiet. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — .

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Bluestone Jewellery & Lifestyle Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

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