Gaming
Modi collaborates with leading gamers to boost India’s esports industry
Mumbai: In a bid to drive forward the development of India’s burgeoning Esports industry, the country’s notable gaming personalities convened in a groundbreaking dialogue with PM Modi and discussed the growth of the nation.
The roundtable discussion featured Animesh Agarwal (8Bit_Thug), Naman Mathur (Mortal) and Payal Dhare (PayalGaming) of 8BitCreatives, India’s leading gaming influencer management agency alongside Ganesh Gangadhar (SKRossi), Anshu Bisht (GamerFleet), Mithilesh Patankar (MythPat) and Tirth Mehta.
Esports in India has grown from a pastime activity to a new-age ‘multi-sport’ event, officially recognised by the government. The latest FICCI-EY report titled ‘#Reinvent: India’s media & entertainment sector is innovating for the future’, states that participation in Esports tournaments surged to 1.8 million in 2023, across various prominent titles and competitive levels, with an estimated increase to 2.5 million in 2024. Additionally, game streamers witnessed a notable rise in viewership of 20% to 25%, particularly in Tier-II cities.
Sharing his perspective on discussing the exponential growth of Esports in India with the prime minister, 8Bit Creatives founder and co-founder of S8UL & CEO Animesh Agarwal stated, “It was truly an honour to discuss the rapid rise of Esports in India with our prime minister Modi and share our vision about revolutionising the future. I was personally awed at the PM’s understanding of the nuances of the industry, especially when he mentioned that the industry right now needs to grow with support, and not regulation from the government. We also discussed ease of business around gaming and literally voiced our aspirations at the highest possible forum. Gaming is now a mainstream sport and with the government’s support we will be able to take it to the next level.”
S8UL co-founder & CMO of 8Bit Creatives Naman ‘Mortal’ Mathur called the experience surreal and said “Being in the presence of the PM, discussing the topic closest to my heart, was indeed surreal. Who thought I would be playing with the PM & personally walking him through the nuances of one of the games around the theme of Indian mythology. I hope this moment is an inflection point for gaming & esports in India.”
Payal Dhare looked back at the interaction and mentioned “Discussing prospects for female gamers in India with the PM made my journey so much more worthwhile. I realized that he is a great listener, and perfectly paraphrased the difference between esports & gaming content creation, something we now hope everyone will be able to understand. His vision for game development in India around Indian culture, environmental issues, etc is something I felt very strongly about, and I hope it helps take Indian games to the global stage. Thanks to sir for gifting us a lifetime memory.”
8Bit Creatives co-founder Lokesh ‘Goldy’ Jain expressed his pride and said, “This is bound to have outcomes for the industry which I look forward to, but as of now I am focussing on the happiness I am feeling. Having three of my own sit with the PM and discuss gaming & esports, reminds me of why I do what I do. I am completely aligned with the PM’s vision, and hope to work towards it with my team, to the extent we can.”
During the discussion, the gamers delved into various aspects of gaming, including esports, game development, impact on youth, the global presence of India in the industry, and more. The gamers also shared their individual journeys, struggles & wins.
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.
