Gaming
Bluestone FY26 revenue rises to Rs 2,436 crore, turns profitable
Q4 profit at Rs 31 crore, full-year profit at Rs 13 crore vs loss last year.
MUMBAI: From sparkle to numbers, Bluestone seems to be polishing more than just jewellery this year. Bluestone Jewellery and Lifestyle Limited reported a sharp turnaround in FY26, with revenue from operations rising to Rs 2,436 crore (Rs 24,364 million), up from Rs 1,770 crore (Rs 17,700 million) in FY25. The company posted a full-year profit of Rs 13 crore (Rs 131.79 million), a significant recovery from a loss of Rs 222 crore (Rs 2,218 million) a year ago.
Total income for the year stood at Rs 2,486 crore (Rs 24,860 million), compared to Rs 1,830 crore (Rs 18,300 million) in the previous year, reflecting both topline growth and improved operational momentum.
The March quarter, however, told a more nuanced story. Revenue from operations came in at Rs 681 crore (Rs 6,814 million), down from Rs 748 crore (Rs 7,486 million) in the year-ago period, though higher than Rs 461 crore (Rs 4,613 million) in the preceding December quarter. Net profit for Q4 stood at Rs 31 crore (Rs 311.81 million), compared to Rs 68 crore (Rs 688 million) a year earlier, but a clear reversal from a loss of Rs 51 crore (Rs 512 million) in Q3.
Margins were shaped by higher input costs, with raw material consumption rising to Rs 2,204 crore (Rs 22,043 million) for the full year, alongside employee benefit expenses of Rs 282 crore (Rs 2,824 million) and finance costs of Rs 210 crore (Rs 2,104 million). Other expenses came in at Rs 371 crore (Rs 3,715 million), slightly lower than Rs 393 crore (Rs 3,938 million) in FY25.
On the balance sheet front, total assets expanded to Rs 4,961 crore (Rs 49,610 million) as of March 31, 2026, from Rs 3,532 crore (Rs 35,322 million) a year earlier, driven largely by a surge in inventories to Rs 2,672 crore (Rs 26,718 million). Equity also strengthened to Rs 1,803 crore (Rs 18,030 million), nearly doubling from Rs 911 crore (Rs 9,107 million).
Cash flows reflected the cost of growth. Net cash used in operating activities stood at Rs 199 crore (Rs 1,990 million), while investing activities saw an outflow of Rs 239 crore (Rs 2,392 million). Financing activities, however, generated Rs 497 crore (Rs 4,971 million), helping the company end the year with cash and cash equivalents of Rs 108 crore (Rs 1,075 million), up from Rs 49 crore (Rs 487 million).
Earnings per share for FY26 came in at Rs 1.10, a sharp improvement from a negative Rs 79.74 in FY25, underlining the shift from losses to profitability.
With revenue scaling up, costs still glittering on the higher side, and profitability finally back in the black, BlueStone’s FY26 performance suggests a business mid-transition less about shine alone, and more about sustaining it.
Gaming
Nations Cup names 700 plus coaches for 2026 debut
India joins via Nodwin Gaming, roster building begins ahead of 10 May deadline.
MUMBAI: Game on, but this time, it’s nations not just nicknames entering the lobby. The Esports Foundation has confirmed the appointment of over 700 game coaches representing National Team Partners across more than 100 nations and territories for the inaugural Esports Nations Cup 2026, set to take place in Riyadh from November 2 to 29, 2026. The scale signals a shift towards structured, nation-based esports, where flags matter as much as frags.
India is stepping into this global arena through Nodwin Gaming, its designated National Team Partner, which has now unveiled a multi-title coaching line-up effectively kickstarting the country’s campaign.
The roster reads like a mix of battle-tested veterans and rising strategists. Moin Ejaz (NO_Chanc3) will spearhead DOTA 2, bringing over a decade of experience, including a bronze medal at the Commonwealth Esports Championships 2022. Rahul (Ayogi) takes charge of Battlegrounds Mobile India, with a track record spanning titles such as BGMI Pro Series 2023 and BGIS 2026.
In Valorant, Abhishek Bajaj (GodspeedxD) steps in with multiple championship wins across teams like Reckoning Esports and Velocity Esports, while Pankaj Upadhyay (KAKA), a familiar name in Indian League of Legends, will lead that front.
The line-up also reflects international collaboration. Steve Vitug (Dale) from the Philippines will coach MOBA Legends: 5v5!, while Indonesia’s Gradyano Valendy (Rinnqt) joins for Honor of Kings. Other appointments include Pratik Mehra (Aurum) for PUBG: Battlegrounds, Ashrit Goyal (notyAshritB) for Rainbow Six Siege, and Nirjhar Mitra (jocse) for Rocket League.
This announcement marks more than just staffing, it signals the start of serious team-building. Coaches will now identify players, shape strategies, and assemble competitive squads ahead of the roster submission deadline on May 10, with team announcements expected from mid-May.
Globally, the coaching pool spans more than 90 esports organisations, blending world champions with emerging leaders effectively connecting grassroots talent pipelines to elite competition.
For India, the move reflects a broader attempt to formalise its esports ecosystem, creating structured pathways from local play to global representation. For the tournament itself, it is another building block in turning esports into something closer to traditional sport complete with national pride, coaching systems, and long-term development.
As the countdown to Riyadh begins, the focus shifts from selection rooms to server rooms. The teams are still forming but the stage is already set.
