Akil Gulcha · Hornbill Capital
directHow many franchisee stores and what is the plan for them?
out of the total portfolio of 340 stores about 67 are franchisee stores
BLUESTONEJEWELLERYANDLIF / Q4-FY26 / claim-ledger
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Bluestone Jewellery and · Analyst questions, management answers, and the quality of the response where the ledger is available.
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Questions audited
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Question ledger
What was answered, and how?
Akil Gulcha · Hornbill Capital
directWhat is the trajectory of ESOP cost going ahead?
90% of our ESOs are with the management with top six people... we have around 1.7% of unallocated esop pool on a fully diluted basis and we don't foresee ourselves breaching that in next 3 to four years
Aditi · MSA Capital Partners
evasiveWhat is the split of inventory between store and corporate?
the split is not significantly different from what we had communicated earlier. it's pretty much in the same territory
Aditi · MSA Capital Partners
partialHow many mature stores and how are they performing?
mature stores which have seen more than 3 to four years of operations there we see these turns to be hovering somewhere between 1.7 to 1.9
Aditi · MSA Capital Partners
directWhat is the store addition plan for FY27 and FY28?
adding close to 20% to our distribution on a annual basis
Vikram Devanatan · Prodigy Investment and Management
partialWhy was store expansion plan revised down from RHP target?
we should look at how the external operating environment has been specifically from a gold price perspective
Vikram Devanatan · Prodigy Investment and Management
directHow long can 20% store growth be maintained?
a 20% taker on distribution is a fairly good number which we will continue to deliver over several years
Harish Adwani · Access Capital
evasiveWhat is the March exit rate for revenue?
no specific commentary on March exit but... the momentum is only strengthened
Harish Adwani · Access Capital
declinedWhat is the entry-level portfolio contribution to revenues?
that breakup will not be able to provide for competitive reasons
Harish Adwani · Access Capital
evasiveWhere do you see studded share moving in next 6 months?
Fundamentally from our point of view I feel that for us it's like looking at we built overall network... focus is clearly on looking at taking the brand forward
Kaushal Pavasar · ICICI Direct
partialWhy did margins dip sequentially despite inventory gains?
the best comparisons are YoY because seasonality... there has been a substantial improvement in the margin at the pre-ind level
Kaushal Pavasar · ICICI Direct
directWhat drove strong SSSG of 34% and will it continue?
34% is not something which is very new for us. In fact anomaly for us was Q3 of last year... the SSC that we see in Q4 is kind of getting back to normal