iWorld
Virgin Music Group extends deal with Play DMF
Mumbai: Virgin Music Group, the world’s leading partner to independent artists, labels and entrepreneurs, announced today that the company has extended its deal with Play DMF, the Mumbai-based company founded by producer/actor/entrepreneur Anshal Garg. The new long-term deal aligns Play DMF and Virgin Music Group globally well into the next decade.
Play DMF is one of the most successful entertainment companies in India, with a YouTube channel with more than five Million subscribers, recently spawning such hit tracks as “Guli Mata,” “Yimmy Yimmy,” “Heer Ranjha,” “Hum Toh Deewane,” the freshly released ‘Zaalima’ among many others. Play DMF also had major success with “Selfiee,” a Bollywood film soundtrack which drove more than 200 Million streams globally and more than 400 Million views on YouTube.
“Play DMF is consistently one of our most successful partners in India,” said Virgin Music Group country manager Amit Sharma. “Working so closely with Anshul and his entire team has been hugely successful for everyone involved and we are honored to extend our partnership with them well into the next decade. We are looking forward to some really exciting international collaborations with PLAY DMF, as we have done before, and this long term deal shows how solid our intent is in this partnership.
“Partnering with Virgin Music Group aligns perfectly with my vision for Play DMF,” said Anshul Garg. “My aim is to create global music that puts India on the world music map, and with Virgin Music Group, we can achieve this on a much larger scale. Extending this partnership proves the impact we are making in the global music scene, and we promise to continue delivering more chartbusters into the next decade.”
Flagging off the extended partnership, is a brand new track called Ittefaq, – helmed by new-age composers Oaff and Savera, with Bollywood actor Siddhant Chaturvedi debuting as a singer. The song is set for release on 12 June, and the video, which also features popular actor Wamiqa Gabbi alongside Siddhant, is a slick, glamourous video that has been shot in one-take.
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.
