Bluestone Jewellery And Lifestyle (NSE:BLUESTONE) Beneish M-Score: -3.08 (As of Jul. 27, 2026)

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NSE:BLUESTONE Bluestone Jewellery And Lifestyle Ltd NSE:BLUESTONE
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Price ₹772.40
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What is Bluestone Jewellery And Lifestyle Beneish M-Score?

Bluestone Jewellery And Lifestyle NSE:BLUESTONE +3.40% 7 Beneish M-Score is -3.08 as of Jul. 27, 2026. GuruFocus rates NSE:BLUESTONE with a GF Score™ of 7/100. The stock has 6 warning signs investors should review. Among 1,086 Retail - Cyclical companies, Bluestone Jewellery And Lifestyle ranks better than 81.68% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -3.08 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Bluestone Jewellery And Lifestyle's Beneish M-Score or its related term are showing as below:

NSE:BLUESTONE' s Beneish M-Score Range Over the Past 10 Years
Min: -3.08   Med: -3.04   Max: -2.99
Current: -3.08

During the past 4 years, the highest Beneish M-Score of Bluestone Jewellery And Lifestyle was -2.99. The lowest was -3.08. And the median was -3.04.

Bluestone Jewellery And Lifestyle Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Bluestone Jewellery And Lifestyle's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Bluestone Jewellery And Lifestyle Beneish M-Score Chart

Bluestone Jewellery And Lifestyle Annual Data
Trend Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 0.00 -2.99

Bluestone Jewellery And Lifestyle Quarterly Data
Mar23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 -2.99 -3.08

NSE:BLUESTONE vs TPR: Beneish M-Score Comparison

For the Luxury Goods subindustry, Bluestone Jewellery And Lifestyle's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Bluestone Jewellery And Lifestyle Beneish M-Score vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Bluestone Jewellery And Lifestyle's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Bluestone Jewellery And Lifestyle's Beneish M-Score falls into.


NSE:BLUESTONE
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Bluestone Jewellery And Lifestyle Ltd NSE:BLUESTONE
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Bluestone Jewellery And Lifestyle Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Bluestone Jewellery And Lifestyle for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 0.1422+0.528 * 0.9049+0.404 * 0.4901+0.892 * 1.3998+0.115 * 0.8763
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * 0.01166-0.327 * 0.8613
=-3.08

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Jun26) TTM:Last Year (Jun25) TTM:
Total Receivables was ₹75 Mil.
Revenue was 7368.46 + 6814.72 + 7479 + 5136.27 = ₹26,798 Mil.
Gross Profit was 3004.34 + 2983.58 + 3381.54 + 2032.35 = ₹11,402 Mil.
Total Current Assets was ₹35,611 Mil.
Total Assets was ₹49,610 Mil.
Property, Plant and Equipment(Net PPE) was ₹11,345 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹2,212 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹21,268 Mil.
Long-Term Debt & Capital Lease Obligation was ₹10,229 Mil.
Net Income was 69.6 + 311.81 + 714.55 + -517.49 = ₹578 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₹0 Mil.
Cash Flow from Operations was 0 + 0 + 0 + 0 = ₹0 Mil.
 Total Receivables was ₹379 Mil.
Revenue was 4926.78 + 4613.03 + 5870.92 + 3733.64 = ₹19,144 Mil.
Gross Profit was 2022.65 + 1779.86 + 2182.23 + 1385.85 = ₹7,371 Mil.
Total Current Assets was ₹21,297 Mil.
Total Assets was ₹35,323 Mil.
Property, Plant and Equipment(Net PPE) was ₹10,170 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹1,697 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹17,011 Mil.
Long-Term Debt & Capital Lease Obligation was ₹9,026 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(75.45 / 26798.45) / (378.93 / 19144.37)
=0.002815 / 0.019793
=0.1422

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(7370.59 / 19144.37) / (11401.81 / 26798.45)
=0.385 / 0.425465
=0.9049

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (35611.33 + 11345.18) / 49610.12) / (1 - (21297.45 + 10170.38) / 35322.81)
=0.053489 / 0.109136
=0.4901

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=26798.45 / 19144.37
=1.3998

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(1697.03 / (1697.03 + 10170.38)) / (2212.47 / (2212.47 + 11345.18))
=0.142999 / 0.16319
=0.8763

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(0 / 26798.45) / (0 / 19144.37)
=0 / 0
=1

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((10229.16 + 21268.36) / 49610.12) / ((9025.53 + 17011.13) / 35322.81)
=0.634901 / 0.737106
=0.8613

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(578.47 - 0 - 0) / 49610.12
=0.01166

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Bluestone Jewellery And Lifestyle has a M-score of -3.08 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -3.08 mean?
Bluestone Jewellery And Lifestyle (NSE:BLUESTONE) has a Beneish M-Score of -3.08 as of Jul. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Bluestone Jewellery And Lifestyle and its competitors. According to the industry distribution chart, Bluestone Jewellery And Lifestyle ranks #199 out of 1086 companies in the Retail - Cyclical industry, placing it in the top 18.3%.
Is Bluestone Jewellery And Lifestyle's Beneish M-Score too high?
Bluestone Jewellery And Lifestyle's current Beneish M-Score is -3.08. Based on the distribution chart, Bluestone Jewellery And Lifestyle ranks #199 out of 1086 companies in the Retail - Cyclical industry, which is in the top quartile — a strong position relative to peers. Overall, Bluestone Jewellery And Lifestyle has a GF Score™ of 7/100, reflecting its overall financial health beyond just this single metric.
How does Bluestone Jewellery And Lifestyle's Beneish M-Score compare to TPR?
According to the Retail - Cyclical industry distribution chart, Bluestone Jewellery And Lifestyle ranks #199 out of 1086 companies for Beneish M-Score. This places Bluestone Jewellery And Lifestyle in the top 18% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Retail - Cyclical company?
A good Beneish M-Score depends on the Retail - Cyclical industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Bluestone Jewellery And Lifestyle and its competitors. Bluestone Jewellery And Lifestyle's current Beneish M-Score is -3.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bluestone Jewellery And Lifestyle stock overvalued right now?
Bluestone Jewellery And Lifestyle (NSE:BLUESTONE) has a current Beneish M-Score of -3.08. The current Beneish M-Score is -3.08. Bluestone Jewellery And Lifestyle's overall GF Score™ is 7/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Bluestone Jewellery And Lifestyle (NSE:BLUESTONE), the current Beneish M-Score is -3.08 as of Jul. 27, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Bluestone Jewellery And Lifestyle Business Description

Other Exchanges 544484:India
Address Makwana Road, 302, Dhantak Plaza, Marol, Andheri East, Mumbai, MH, IND, 400 059
Bluestone Jewellery and Lifestyle Ltd is a digital-first fine jewellery brand in India, offering a wide range of contemporary diamond, gold, platinum, and gemstone jewellery. It operates through an omnichannel model, combining an extensive online platform with numerous experiential stores, providing customers a seamless shopping experience whether online or in physical locations. The company focuses on certified jewellery designs that cater to diverse tastes and budgets, with features like lifetime exchange and buyback policies. Revenue is majorly generated through the sale of jewellery products across various segments including rings, earrings, pendants, and more, with operations concentrated mainly in India.
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