BlueStone Jewellery and Lifestyle Limited Unlisted Shares - Company Overview
Bluestone Jewellery And Lifestyle Limited, also popularly known as BlueStone, is an unlisted public company incorporated on 22 July, 2011. It is classified as a public limited company and is located in , . It's authorized share capital is INR 45.05 cr and the total paid-up capital is INR 13.55 cr.
BlueStone Jewellery and Lifestyle Limited is an omnichannel jewelry retailer that designs, manufactures, and sells a wide range of jewelry, including gold, diamond, and gemstone pieces, through both online and physical retail channels. They focus on a direct-to-consumer (DTC) approach, offering a large selection of designs and customization options.
BlueStone Jewellery and Lifestyle Limited Share Price, Share Details as of March 31, 2024
| BlueStone Jewellery and Lifestyle Limited Outstanding Shares: | 13,54,59,637 |
| Face Value of BlueStone Jewellery and Lifestyle Share | Rs. 1/- Per Equity Share |
| ISIN of BlueStone Jewellery and Lifestyle Share | INE304W01038 |
| Lot Size of BlueStone Jewellery and Lifestyle Share | 100 |
| BlueStone Jewellery and Lifestyle Share Price | Best In Industry |
| PAN Number of BlueStone Jewellery and Lifestyle | AADCN6881C |
| GST Number of BlueStone Jewellery and Lifestyle | 29AADCN6881C1Z9 |
BlueStone Jewellery and Lifestyle Limited Incorporation Details
| BlueStone Jewellery and Lifestyle CIN Number | U72900KA2011PLC059678 |
| BlueStone Jewellery and Lifestyle Registration Date | 22 July 2011 |
| Category / Sub-Category of BlueStone Jewellery and Lifestyle | Company limited by shares/Non-Govt Company |
| BlueStone Jewellery and Lifestyle Registered Office Address | SITE NO.89/2 LAVA KUSHA ARCADE MUNNEKOLAL VILLAGE, OUTER RING ROAD, MAR, ATHAHALLI, Bangalore, BANGALORE, Karnataka, India, 560037 |
| BlueStone Jewellery and Lifestyle Registrar & Transfer Agent Address | KFIN TECHNOLOGIES LIMITED |
BlueStone Jewellery and Lifestyle Limited Board of Directors
| Directors | Post |
| Sameer Dileep Nath | Director |
| Prashanth Prakash | Director |
| Gaurav Singh Kushwaha | Managing Director |
| Rohit Bhasin | Independent Director |
| Neha | Independent Director |
| Rajesh Kumar Dahiya | Independent Director |
BlueStone Jewellery and Lifestyle Principal Business Activities
| Name and Description of main products/services | NIC Code of the product/service* | % to the total turnover of the Company |
| Manufacture of gold jewellery : gold, silver and other precious metal jewellery; precious and semi-precious stone jewellery; gold and silver articles including presentation coins but not the coin used as a legal tender | 36911 | 100% |
Bluestone Jewellery and Lifestyle Private Limited Standalone Balance Sheet (Rs. in Millions)
| Particulars | 31-03-2024 | 31-03-2023 |
| Non-current assets | ||
| Property, plant and equipment | 1,238.25 | 853.38 |
| Right-of-use assets | 4,610.36 | 3,590.00 |
| Capital Work-in-progress | 166.64 | 8.01 |
| Other Intangible Assets | 1.91 | 2.91 |
| Other financial assets | 4,106.05 | 216.26 |
| Non-current tax assets (net) | 36.33 | 12.72 |
| Other non-current assets | 1,001.77 | 661.65 |
| Current assets | ||
| Inventories | 9,912.21 | 3,953.17 |
| Loans | 0.39 | 12.07 |
| Trade Receivables | 23.77 | 10.64 |
| Cash and cash equivalents | 591.35 | 271.00 |
| Bank balances other than above | 473.61 | 2,318.61 |
| Other financial assets | 2,193.96 | 521.96 |
| Other current assets | 178.32 | 122.49 |
| Total Assets | 24,534.92 | 12,554.87 |
| Equity | ||
| Equity Share capital | 278.95 | 92.29 |
| Other Equity | 3,462.77 | (810.55) |
| Non-Current liabilities | ||
| Borrowings | 1,851.40 | 442.19 |
| Lease liabilities | 4,301.18 | 3,318.98 |
| Other Financial Liabilities | 325.10 | 1,610.63 |
| Provisions | 33.93 | 45.79 |
| Current liabilities | ||
| Borrowings | 2,452.86 | 1,841.99 |
| Gold on Loan | 4,424.61 | 2,212.42 |
| Lease liabilities | 588.06 | 410.33 |
| Trade Payables: | ||
| Total outstanding dues of micro and small enterprises | 418.55 | 130.95 |
| Total outstanding dues of creditors other than Micro and Small Enterprises | 1,748.94 | 652.82 |
| Other financial liabilities | 2,712.60 | 1,563.99 |
| Provisions | 20.52 | 3.22 |
| Other Current liabilities | 1,915.45 | 1,039.82 |
| Total Equity and Liabilities | 24,534.92 | 12,554.87 |
Bluestone Jewellery and Lifestyle Private Limited Standalone Profit and Loss Account (Rs. in Millions)
| Particulars | 31-03-2024 | 31-03-2023 |
| Revenue from Operation | 12,658.39 | 7,707.26 |
| Other Income | 376.52 | 171.68 |
| Total Income | 13,034.91 | 7,878.94 |
| Expenses | ||
| Cost of raw materials consumed | 12,346.71 | 7,176.00 |
| Change in inventories of finished goods, WIP and stock-in-trade | (4,803.30) | (1,924.79) |
| Employee Benefit Expense | 1,384.25 | 911.96 |
| Finance Cost | 1,376.71 | 666.85 |
| Depreciation and Amortisation Expense | 952.66 | 616.94 |
| Other Expenses | 3,200.24 | 2,104.42 |
| Total Expense | 14,457.27 | 9,551.38 |
| Profit/Loss before tax | (1,422.36) | (1,672.44) |
| Tax expenses | - | - |
| Profit after tax | (1,422.36) | (1,672.44) |
| Other comprehensive income | ||
| Items that will not be reclassified to profit or loss: | ||
| Remeasurement of defined benefit liability/(asset) | 9.77 | 1.41 |
| Total comprehensive income for the year | (1,412.59) | (1,671.03) |
| Earnings per Equity Share (Nominal value of INR 1 each) | ||
| Basic | (78.36) | (92.14) |
| Diluted | (78.36) | (92.14) |
Bluestone Jewellery and Lifestyle Private Limited Standalone Cash Flow Statement (Rs. in Millions)
| Particulars | 31-03-2024 | 31-03-2023 |
| Cash Flow from Operating Activities | ||
| Loss before Tax | (1,422.36) | (1,672.44) |
| Adjustments For: | ||
| Depreciation and Amortization | 952.66 | 616.94 |
| Expense on employee stock option scheme | 292.58 | 194.47 |
| Finance Costs | 1,366.03 | 653.25 |
| Interest income | (250.58) | (97.86) |
| (Profit)/Loss on sale of property, plant and equipment (net) | (19.43) | 3.94 |
| Provision for expected credit loss | - | 0.96 |
| Bad debts written off | 2.75 | - |
| Provision for doubtful debt and other receivables | 1.20 | - |
| Provision for balance with Government authorities | - | 72.18 |
| Rent waiver on lease liabilities | - | (0.09) |
| Liabilities no longer required written back | (96.71) | (55.00) |
| Gain on termination of lease | (7.96) | (5.55) |
| Unwinding of interest on financial assets carried at amortised cost | - | (11.32) |
| Operating Profit/(Loss) before Working Capital Charges | 818.18 | (300.52) |
| Working Capital adjustments: | ||
| (Increase)/Decrease in Inventories | (5,959.04) | (2,291.94) |
| (Increase)/Decrease in Trade Receivables | (17.07) | 38.38 |
| (Increase)/Decrease in Loans | 11.68 | (2.99) |
| Decrease/(increase) in other financial assets | (520.42) | (534.80) |
| Decrease/(increase) in other assets | (319.12) | (410.90) |
| (Increase)/Decrease in Trade Payables | 1,480.43 | 50.32 |
| (Increase)/Decrease in gold on loan | 2,212.19 | 1,383.94 |
| (Increase)/Decrease in other financial liabilities | (320.50) | 2,025.35 |
| (Increase)/Decrease in Provisions | 15.21 | (253.92) |
| (Increase)/Decrease in other current liabilities | 810.43 | 573.70 |
| Cash generated from Operating Activities | (1,788.03) | 276.62 |
| Income-tax paid (net) | (23.61) | (5.27) |
| Net Cash Flow (Used in)/Generated from Operating Activities | (1,811.64) | 271.35 |
| Cash Flow from Investing Activities | ||
| Investment in fixed deposits | (3,276.26) | (1,394.11) |
| Payment for purchase of property, plant and equipment | (989.08) | (900.74) |
| Proceeds from sale of property, plant and equipment | 172.34 | 189.54 |
| Interest received on fixed deposits | 276.52 | 57.01 |
| Net Cash Flow (Used in)/Generated from Investing Activities | (3,816.48) | (2,048.30) |
| Cash Flow from Financing Activities | ||
| Interest paid | (1,056.65) | (434.10) |
| Proceeds from issue of equity shares | - | 90.20 |
| Proceeds from issue of preference shares | 5,877.53 | 756.99 |
| Settlement of cash settled ESOP liability | (117.96) | - |
| Proceeds from borrowings | 4,393.28 | 2,125.69 |
| Repayment of borrowings | (2,373.20) | (65.01) |
| Repayment of lease liabilities | (774.53) | (512.93) |
| Net Cash Flow (Used in)/Generated from Financing Activities | 5,948.47 | 1,960.84 |
| Net Changes in Cash and cash equivalents during the year | 320.35 | 183.88 |
| Cash and cash equivalents at beginning of the year | 271.00 | 87.12 |
| Cash and cash equivalents at the end of the year | 591.35 | 271.00 |
Here is a summary of the Cash Flow Statement for the years 2024 and 2023:
Cash Flow from Operating Activities
For the year ending 31st March 2024, the company had a net outflow of ₹1,811.64 million from operating activities, compared to a small inflow of ₹271.35 million in the previous year. This sharp decline was mainly due to a loss before tax and major increases in working capital needs especially a rise in inventories (₹5,959 million) and other financial assets. Although the company added back depreciation, finance costs, and other non-cash items, these were not enough to offset the working capital pressure.
Cash Flow from Investing Activities
The company experienced a net outflow of ₹3,816.48 million in 2024 from investing activities, which was significantly higher than the ₹2,048.30 million outflow in the previous year. The major reason for this increase was higher investment in fixed deposits (₹3,276.26 million) and capital expenditure on property and equipment, even though some inflow came from the sale of assets and interest income.
Cash Flow from Financing Activities
In contrast, financing activities generated a strong inflow of ₹5,948.47 million in 2024, much higher than ₹1,960.84 million in 2023. This was mainly due to the issue of preference shares (₹5,877.53 million) and new borrowings, which covered repayments and interest paid. This strong financing support helped manage the cash deficit from operations and investing.
Net Changes in Cash and cash equivalents
As a result of the financing inflows, the company ended the year with a net cash increase of ₹320.35 million, up from ₹183.88 million last year. The closing cash balance stood at ₹591.35 million, compared to ₹271.00 million in the previous year, reflecting an improved liquidity position despite operational and investment pressures.
Bluestone Jewellery and Lifestyle Private Limited Financial Ratios
| Particulars | 2024 | 2023 |
| Current Ratio | 0.94 | 0.92 |
| Debt-Equity Ratio | 2.46 | (8.37) |
| Debt Service Coverage Ratio | (0.00) | (0.17) |
| Return on Equity | -94% | -18% |
| Inventory Turnover Ratio | 1.09 | 1.87 |
| Trade Receivables Turnover Ratio | 735.86 | 254.29 |
| Trade Payables Turnover Ratio | 7.28 | 9.69 |
| Net Capital Turnover Ratio | (16.30) | (19.57) |
| Net Profit Ratio | -11% | -22% |
| Return on Capital Employed | -1% | -118% |
| Return on Investment | -6% | -13% |
Here is a summary of the Financial Ratio for the years 2024 and 2023:
Current Ratio
The current ratio slightly increased from 0.92 in 2023 to 0.94 in 2024. This means the company still has less than ₹1 in current assets for every ₹1 of current liabilities, showing that it may face challenges in meeting short-term obligations.
Debt-Equity Ratio
The debt-equity ratio shifted from a negative (–8.37) in 2023 to a positive 2.46 in 2024. This change likely indicates improved financial structuring, but a ratio above 2 still suggests heavy reliance on borrowed funds.
Debt Service Coverage Ratio
The ratio remained negative in both years, at (–0.17) in 2023 and close to zero in 2024. This shows the company is still struggling to generate enough income to cover its debt repayments.
Return on Equity (ROE)
ROE worsened significantly, dropping from (–18%) in 2023 to (–94%) in 2024. This means the company has faced larger losses in relation to shareholders’ equity, which is a concerning sign for investors.
Inventory Turnover Ratio
The ratio fell from 1.87 to 1.09, indicating that the company is taking longer to sell its inventory, which may lead to overstocking or inefficiencies in inventory management.
Trade Receivables Turnover Ratio
This improved sharply from 254.29 to 735.86, showing that the company is collecting receivables much faster. This is a very positive sign for cash flow.
Trade Payables Turnover Ratio
The ratio decreased from 9.69 to 7.28, meaning the company is taking a bit longer to pay its suppliers. This may help with short-term cash but could affect supplier relationships.
Net Capital Turnover Ratio
The ratio remained negative but improved slightly from (–19.57) to (–16.30), showing the company is still not efficiently using its capital to generate revenue, although the situation has slightly improved.
Net Profit Ratio
The net profit ratio improved from (–22%) to (–11%), which means the company is still in loss but the losses have reduced compared to last year.
Return on Capital Employed (ROCE)
ROCE improved from (–118%) to (–1%), which, although still negative, shows a major improvement in how the company is using its capital.
Return on Investment (ROI)
ROI increased from (–13%) in 2023 to (–6%) in 2024, indicating that the company is still making losses on investments, but the situation is getting better.
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