iWorld
MX Player wins bronze for LGBT+ inclusion at IWEI 2022
Mumbai: MX Player has been recognised as a top employer at the India Workplace Equality Index (IWEI) 2022.
MX Player has been honoured with the bronze badge, which recognises the development of inclusive policies and the initiation of activities that promote LGBT+ inclusion at work.
MX Player has worked consciously to create a work environment in which all people are truly welcomed, valued, and respected—for all of who they are.
Considering diversity and inclusion to be critical pillars for an organisation’s success, MX Player launched #PressPlayForAll in June 2022 for its 100K+ LinkedIn family.
With gender-neutral medical and leave policies, attracting LGBTQ+ candidates through its LinkedIn page, and using social media platforms to lead conversations on LGBTQ+ equality, the brand has also actively engaged with the LGBTQ+ community at the grassroots level.
Speaking on being awarded the bronze badge at IWEI 2022, MX Player CEO Karan Bedi said, “We are humbled to receive this recognition and acknowledge the contribution of every stakeholder in this journey. At MX Player, we have always invested in pioneering initiatives and introduced policies that accept and cherish all employees, thus helping to build a progressive work environment. The IWEI 2022 recognition is a testament to the people-first culture that MX Player has built over the years.”
Commenting on making the workplace diverse and inclusive, MX Player Global HR Head Anjani B. Kuumar said, “As an organisation that is deeply invested in the well-being of its employees, our leadership team is committed to building a healthy and safe workplace culture, and inclusion is one of our top priorities. For a young organisation like ours, this recognition by IWEI will further propel us to strengthen our inclusion policies and initiatives.”
IWEI is India’s first comprehensive benchmarking tool for employers to track their progress toward lesbian, gay, bi, and trans (LGBT+) workplace inclusion. The index assesses nine areas: policies and benefits, employee lifecycle, employee network group, allies and role models, senior leadership, monitoring, procurement, community engagement, and other work.
MX Player also participated in Pride Circle’s Ally Challenge 2022, pledging to be active allies and inviting all employees to participate by sharing their pledges, in order to encourage and lead the workforce toward being allies.
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.
