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BlueStone Jewellery and Lifestyle Limited [Formerly Known as BlueStone Jewellery and Lifestyle Private Limited] Reg. off : Site No. 89/2 Lava Kusha Arcade, Munnekolal Village, Outer Ring Road, Marathahalli, Bangalore - 560037 statutorycompliance@bluestone.com www.bluestone.com CIN: L72900KA2011PLC059678 Corporate off: 302, Dhantak Plaza, Makwana Road, Marol, Andheri East, Mumbai - 400 059, Maharashtra. Contact No: 080 4514 6904 October 22, 2026 To, BSE Ltd. Listing Department, P. J. Towers, Dalal Street, Mumbai – 400 001. (Scrip Code: Equity - 544484), National Stock Exchange of India Ltd. Exchange Plaza, Bandra-Kurla Complex, Bandra (E), Mumbai – 400 051. (Symbol: BLUESTONE, Series EQ) Dear Sirs/ Madam, Sub: Outcome of the Board Meeting held on October 22, 2026 under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Dear Sir/Madam, This has reference to the intimation of meeting of Board of Directors (“Board”) of BlueStone Jewellery and Lifestyle Limited (the “Company”) dated October 14, 2026. In compliance with Regulation 30 of the Securities and Exchange Board of India (“SEBI”) (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the “Listing Regulations”), we would hereby like to inform that the Board of Directors at its meeting held today, i.e. Thursday, October 22, 2026 has, inter alia, approved the following: 1. Approval of Unaudited Financial Results (Standalone and Consolidated) for the quarter ended September 30, 2026. A copy of Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended September 30, 2026 along with the Limited Review Report issued by the Statutory Auditors is enclosed herewith. The aforesaid financial results have been duly reviewed by the Audit Committee and subsequently approved by the Board at their respective meetings held today i.e. Thursday, October 22, 2026. We would like to further inform you that the Statutory Auditors of the Company have conducted a Limited Review of the aforesaid financial results. 2. Approved raising of funds by way of issuance of non-convertible debentures on a private placement basis, for an amount not exceeding ₹300 crore in one or more series/ tranches. The Board has accorded its approval for raising funds of up to ₹300 crore (Indian Rupees Three Hundred Crore only) through the issuance of non-convertible debentures (“Debentures” / “NCDs”) on a private placement basis, in one or more series / tranches. The proceeds of subscription of the Debentures are proposed to be utilized inter alia for refinancing a portion of

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BlueStone Jewellery and Lifestyle Limited [Formerly Known as BlueStone Jewellery and Lifestyle Private Limited] Reg. off : Site No. 89/2 Lava Kusha Arcade, Munnekolal Village, Outer Ring Road, Marathahalli, Bangalore - 560037 statutorycompliance@bluestone.com www.bluestone.com CIN: L72900KA2011PLC059678 Corporate off: 302, Dhantak Plaza, Makwana Road, Marol, Andheri East, Mumbai - 400 059, Maharashtra. Contact No: 080 4514 6904 its existing debt and business growth requirements (capital expenditure, working capital and general corporate requirements). The Board has authorized the Operations Committee to determine and finalize the terms and conditions of the allotment of NCDs. The disclosure as required under the Regulation 30(6) of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/CFD PoD1/P/CIR/2023/123 dated July 13, 2023, would be made at the time of issuance and/or allotment of NCDs. 3. Allotment of equity shares pursuant to exercise of stock options. The Board approved allotment of 77,079 equity shares of the Company having a face value of ₹1/- (Rupee One only) each, as fully paid up, to eligible employees, upon exercise of vested options under BlueStone Jewellery and Lifestyle limited – Employee Stock Option Plan 2014. Consequent to the aforesaid allotment, the issued, subscribed and paid-up equity share capital of the Company stands increased from ₹ 15,27,96,524 (consisting of 15,27,96,524 equity shares of face value of ₹ 1/- each) to ₹ 15,28,73,603 (consisting of 15,28,73,603 equity shares of face value of ₹ 1/- each). The Board Meeting commenced at 2 P.M. (IST) and concluded at 4:45 P.M. (IST). Please note that in terms of the Company’s Code of Conduct for Prohibition of Insider Trading and pursuant to Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 as amended, the trading window for trading in securities of the Company will open on October 24, 2026. The aforesaid results and announcements are also available on the website of the Company at www.bluestone.com. The same may please be taken on record and suitably disseminated to all concerned. Thanking You. For BlueStone Jewellery and Lifestyle Limited (Formerly known as BlueStone Jewellery and Lifestyle Private Limited) Mandar Godbole Company Secretary and Compliance Officer ACS: 30240 Encl: as above

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BlueStone’s Q2 FY27 EBITDA of INR 97.1 crores; profitable for the fourth consecutive quarter Crosses 1 million customers | Q2FY27 revenue up 43.9% YoY, category leading | Q2FY27 EBITDA up 12 7 % YoY to INR 97 crores ● EBITDA more than doubles: Q2FY27 EBITDA of INR 97. 1 crores, up 12 7 % YoY ● Fourth consecutive quarter of profit, following FY26, BlueStone’s first full year of profit ● 1 million customers: 10,24,220 customers at September - end, up 19.3% YoY; repeat customers contributed 56.3% of Q2FY27 revenue, up from 51.4% YoY ● Category leading growth: Q2FY27 revenue up 43.9% YoY; 1HFY27 revenue up 46.3% to INR 1,471 crores, with SSSG of 32.9% ● 379 stores across 146 cities, up 68 stores and 19 cities YoY; all seven cities entered in Q2FY27 are Tier 2 and Tier 3 markets October 22, 2026, Bengaluru : BlueStone Jewellery and Lifestyle Limited, a leading digital - first, direct - to - consumer jewellery brand, today announced its results for the quarter and half year ended September 30, 2026. EBITDA for Q2FY27 surged to INR 9 7. 1 crores, up 127% YoY, and BlueStone reported a profit for the fourth consecutive quarter. Revenue grew 46.3% YoY to INR 1,471 crores in 1HFY27, led by same - store sales growth (SSSG) of 32.9%. In Q2FY27, revenue grew 43.9% YoY to INR 738 crores, outpacing the category even as gold prices stayed volatile and the festive calendar moved into Q3. D uring the quarter, BlueStone crossed one million customers, a milestone in a category where customers decide whom to trust before they decide what to buy. Profitable for the fourth consecutive quarter BlueStone has now reported a profit in each of the last four quarters, building on FY26, its first full year of profit. EBITDA more than doubled to INR 207. 3 crores in 1HFY27, and the EBITDA margin expanded by 422 bps YoY to 14.1%. In Q2FY27, EBITDA rose 12 7 % YoY to INR 97. 1 crores, with the margin up 48 3 bps to 13.2%. Growing faster than the category BlueStone’s revenue grew 43.9% YoY in Q2FY27, well ahead of the category. Two choices set it apart. The first is omnichannel: more than 80% of its sales originate online, so its stores convert intent that customers have already built. The second is everyda y wear: almost all of its business is in non - wedding jewellery, the faster - growing part of the market, as consumers move from heavy pieces kept in lockers to lighter jewellery worn every day. Its reach is widening too, with 379 stores across 146 cities, 68 more than a year ago, and a new flagship on Park Street, Kolkata. One million customers, in a category built on trust Fine jewellery is bought on trust, and trust has traditionally taken generations to build. BlueStone has built it in 15 years. Its customer base crossed one million during the quarter and stood at 10,24,220 at the end of September, up 19.3% YoY. BlueStone counts a customer only once they have bought, and kept, a piece of its jewellery.

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Q2FY27 | Press Release Commenting on the results, BlueStone’s Founder & CEO Gaurav Singh Kushwaha said, “Crossing one million customers is the milestone I am proudest of this quarter. Most of those customers first met us on a screen, and still chose us for something as precious as jewellery. More than half of what we sold this quarter went to customers comin g back to us. That is why our growth keeps running ahead of the category even as our marketing spend falls as a share of revenue. We earn that trust one promise at a time: a money - back policy we have honoured since our first sale, every piece designed and made by us, and a store close enough to see a piece before buying it, now in 146 cities. This quarter we entered seven new cities, all beyond the metros, and opened our Park Street flagship with a handcrafted and antique range. Modern jewellery does not have to leave tradition behind. It has to make tradition wearable.” About BlueStone Jewellery and Lifestyle Limited: BlueStone is a contemporary lifestyle jewellery brand offering diamond, gold, platinum and studded jewellery with a strong design - led approach. Launched in 2011 as a digital - first, direct - to - consumer brand, BlueStone has evolved into one of India’s leading omnichannel jewellery retailers with a wide presence across the country. The brand retails through its website, mobile app and a growing network of stores, providing customers with a seamless online - to - offline experience. With a diverse portfolio spanning rings, earrings, necklaces, bangles, solitaires and more, BlueStone caters to modern consumers who value unique designs, craftsmanship and innovation across occasions. The Company also operates advanced manufacturing facilities to support its expanding sc ale and product range. More than one million customers have chosen BlueStone since its launch. Website App Store Play Store For further information please contact: BlueStone Jewellery & Lifestyle Limited investor.relations@bluestone.com EY LLP Investor Relations Diwakar Pingle: diwakar.pingle@in.ey.com Rhea Dharia: Rhea.Dharia@in.ey.com Avantika Mishra: Avantika.Mishra@in.ey.com Note: Certain statements in this document may be forward - looking statements. Such forward - looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward - looking statements. Further, past performance is not necessarily indicative of future results. Given these risks, uncertainties and other risk factors, viewers a re cautioned not to place undue reliance on these forward - looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward - looking statements to r eflect subsequent events or circumstances.

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Q2 FY27 | Management Commentary 2 the retail side, we are trying new store formats and strengthening the link between our online and offline channels, so that each visit feels more personal and engaging. We see both as central to deepening consumer relationships, supporting sustained growth and market share gains. Q: How has distribution progressed this quarter? A: We had mentioned last quarter that store additions would not be linear through the year, and Q2 demonstrates that. This quarter, we front - loaded our distribution roll - out ahead of the festive end of the year and added 27 stores. This took our store count to 379 as of September 2026. Our city coverage expanded by 19 cities YoY, with all seven cities entered this quarter being Tier 2 and Tier 3 markets. While the opportunity remains large, we continue to expand in a calibrated way, both by entering new cities and by adding density in existing ones. We remain on track with our stated distribution objectives for the year. Q2 FY27 Q1 FY27 Q2 FY26 No. of stores 379 352 311 No. of cities 146 139 127 Q: A&P has grown modestly on an absolute basis YoY – is there a conscious effort to cut back on A&P? A: As we had mentioned in our commentary last quarter, A&P spend will have some quarterly seasonality but, directionally, has operating leverage over the medium term. This quarter, A&P spend grew a modest 5.7% YoY and stood at 6.0% of sales. This reflects a combination of factors: scale benefits, the shift of the festive season into Q3 compared with last year, and the timing of our cricket sponsorships, which falls in Q1. At a fundamental level, our approach to A&P remains very ROI - driven and there aren’t any investment cutbacks. From an ATL perspective, the advertising property landscape has undergone a sea change over the past few years, and we focus on areas where we can drive ROI on our investments. Given how fragmented consumer attention now is, a step change in spend does not deliver a linear ROI. A&P investment will keep growing, and we will keep evaluating strategic, long - term opportunities. Q2 FY27 Q1 FY27 Q2 FY26 Advertising and marketing cost 444 5 08 420 Advertising and marketing cost as % of revenue 6.0% 6 . 9 % 8.2%

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Q2 FY27 | Management Commentary 8 Glossary of Terms Term Description A&P Advertising expense plus selling or promotional expenses. Adjusted EBITDA EBITDA plus ESOP charge plus franchisee commission as part of opex . Franchisee commission includes minimum guarantee on the franchisee deposits and the margin paid to the Franchisees over and above the minimum guarantee (forms part of brokerage and commission in our Restated Financial Information). Adjusted PAT Reported PAT adjusted for ESOP expense, net impact of Ind AS 116 accounting and any inventory gains/losses. Average Inventory Average of opening and closing inventory. Average Order Value or AOV Average Order Value (AOV) measures the average amount of revenue generated per customer order Capital Employed Total equity plus non - current borrowings plus current borrowings (including gold metal loan). Cash PAT Profit before tax, adding back depreciation and amortisation, finance cost on leases and ESOP expenses, and deducting rent paid Contribution Margin Margin after deducting direct costs from gross profit EBITDA EBITDA is calculated as profit / (loss) before tax less other income plus depreciation and amortisation expense plus finance cost plus fair value through profit or loss (one - time loss in Fiscal 2022). EBITDA Margin EBITDA Margin is calculated as EBITDA as a percentage of revenue from operations. Gross Debt Non - current borrowings plus current borrowings. Gross Margin Gross Margin is calculated as gross profit divided by revenue from operations. Gross Profit Gross Profit is calculated as revenue from operations less cost of raw materials consumed plus change in inventory. Inventory Turnover Ratio Inventory Turnover Ratio is calculated as the annualised revenue from operations divided by the average inventory for the period (calculated as the average between the opening and closing inventory for the period). Net Debt (without GML) Gross Debt excluding GML less cash and bank balances. Net Debt / Equity (without GML) Net debt without GML divided by total equity Net Debt (with GML) Gross Debt - Cash and Bank Balances (including all unrestricted bank deposits, and deposits for Gold Metal Loan) Net Debt / Equity (with GML) Net debt with GML divided by total equity Number of customers Number of customers refers to the total count of unique customers who have made and retained a purchase to date PAT Profit after tax PAT Margin Profit after tax as a percentage of revenue from operations. Pre - IndAS EBITDA Management metric to understand operating EBITDA of the business. Pre - IndAS EBITDA is reported EBITDA adjusted to add back ESOP expenses and franchise commission, deduct rent paid on leases (accounted for as depreciation and interest under Ind AS 116) and exclude inventory gains/losses. A reconciliation is provided in the housekeeping section. Return on Capital Employed or ROCE EBIT / (Equity + Net Debt) Same Store Sales Growth (SSSG) Same Store Sales Growth represents the period - over - period percentage change in net revenue from operations of all stores which are operational for more than 12 months for the reported Fiscal. Studded Revenue Studded Revenue refers to the revenue generated through the sale of Studded Jewellery. Studded jewellery refers to jewellery pieces that prominently feature gemstones or precious stones. These stones, such as diamonds, rubies, etc., are set into jewellery to add colour and value. (Source: RedSeer Report)

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MS KA & Associates LLP (Formerly known as MS KA & Associates) Chartered Accountants HO 602, Floor 6, Raheja Titanium Western Express Highway, Geetanjali Railway Colony, Ram Nagar, Goregaon (E) Mumbai 400063, INDIA Tel: +91 22 6974 0200 Independent Auditor's Review Report on consolidated unaudited financial results of BlueStone Jewellery and Lifestyle Limited for the quarter and year to date pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To the Board of Directors of BlueStone Jewellery and Lifestyle Limited 1. We have reviewed the accompanying statement of consolidated unaudited financial results of BlueStone Jewellery and Lifestyle Limited (hereinafter referred to as 'the Holding Company'), its subsidiary, (the Holding Company and its subsidiary together referred to as the 'Group') and its share of the net loss after tax and total comprehensive loss of its associate for the quarter ended September 30, 2026 and the year to date results for the period from April 01, 2026 to September 30, 2026 ('the Statement') attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('the Regulations'). 2. This Statement, which is the responsibility of the Holding Company's Management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 'Interim Financial Reporting' prescribed under Section 133 of the Companies Act, 2013 ( 'the Act') read with relevant rules issued thereunder ('Ind AS 34') and other recognised accounting principles generally accepted in India and is in compliance with the Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity' issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Act and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33 (8) of the Regulations, to the extent applicable. 4. This Statement includes the results of the Holding Company and the following entities: Sr. No Name of the entity Relationship with the Holding Company 1 Ethereal House Private Limited Subsidiary 2 Redefine Fashion Private Limited Associate 5. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 and other recognised accounting principles generally accepted in India has not disclosed the information required to be disclosed in terms of the Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. Ahmedabad Registered Office: 602, Raheja Titanium, Western Express Highway, Goregaon (East), Mumbai-400063, Maharashtra, India Tel: +91 22 6974 0200 I LLPIN: ACT-3789 Bengaluru I Chandigarh I Chennai I Coimbatore I Goa I Gurugram I Hyderabad I Kochi I Kolkata I Pune www mska. in

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Sr. Particulars No. BlueStone Jewellery and Lifestyle limited Registered office: Site No. 89/2 , Lava Kusha Arcade , Munnekolal Village, Outer Ring Road, Marathahalli, Bangalore 560 037, Karnataka, India Tel: +9122 4515 2729Website: www.bluestone.com CIN: l72900KA2011 PLC059678 Statement of consolidated unaudited financial results for the quarter and half year ended 30 September 2026 (All amounts are in INR million unless otherwise stated} Quarter ended Half year ended 30-09-2026 I 30-06-2026 I 30-09-2025 30-09-2026 I 30-09-2025 (Unaudited) (Unauditedl (Unaudited) {Unaudited) (Unaud ited) I I I I 1 !Income Revenue from operations 7,450.33 1 7,368.461 5,136.27 1 14,818.791 10.063 .05 I Other income 243.81 149.66 116.58 393.47 237.20 Total income 7,694.14 7,518.12 5,252.85 15,212.26 10,300.25 2 Expenses Cost of raw materials consumed 5,880.24 7,120.01 4,399.75 13,000 .25 8,575.49 Purchases of stock-in -trade 51.98 47.58 16.65 99.56 53.15 Change in inventories of finished goods, work-in-progress and stock-in- (1,230.72) (2,803.47) (1,312.48) (4,034.19) (2,620.59) trade Employee benefits expense 705.78 758.86 720.87 1,464.64 1,350.08 Finance costs 583.76 553.65 524.15 1,137.41 1,052.83 Depreciation and amortizat ion expense 638.70 604.46 514.83 1,243.16 1,001.67 Other expenses 1,094.09 1,167.12 894 .67 2,261.21 1,730 .31 Total expenses 7,723.83 7,448.21 5,758.44 15,172.04 11,142.94 3 Profit/ (loss) befor e share of net loss of investment accounted for using the equity method and tax (1-2) (29.69) 69.91 (505.59) 40.22 (842.69) 4 Share of loss of investment accounted for usin~ the equity mothod (14.04) (10.30) (15.43) (24.34) (25.78) 5 Profit / (loss) before tax for the period / year (3+4} (43.731 59.61 (521.02) 15.88 (868.47) 6 Tax expense: Current tax Deferred tax Total tax expense . . . 7 Profit / (loss ) after tax for the period/ year (5-6) 143,731 59.61 (521.02} 15.88 (868.47' 8 Othe r comprehensive income/ {loss); Items that will not be reclassified subsequently to profit or loss i. Re-measurement of employee defined benefit plans (4.96) (0.06) 2.82 (5.02) 0.80 ii. Income tax on (i) above Other comprehensive income/ (loss) for the period/ year, net of tax 14.96\ (0.06} 2.82 (5.02} 0.80 9 Tota l comprehensive income/ (loss) for the period / year {7+8} 148.691 59.55 (518.20} 10.86 1867.67' Profit / (loss) attributable to: Owners of the Holding Company (32.32) 69.60 (517.49) 37.28 (862.69) Non-controllina interest 111.41' 19.99 (3.53 (21.40) (5.78) 143.73\ 59.61 (521.021 15.88 (868.47\ Other comprehens ive income/ (loss } attributable to: Owners of the Holding Company (4.96) (0.06) 2.82 (5.02) 0.80 Non-controllina interest 14.96 10.06 2.82 (5.02} 0.80 Total comprehensive income / (loss) attributable to: Owners of the Holding Company (37.28) 69.54 (514.67) 32.26 (861.89) Non-controllints interest 111.41\ 19.99} (3.53 (21.401 (5.78) (48.69} 59.55 (518.20) 10.86 (867.67) 10 Paid up equity share capital (face value of INR 1/- each) 152.80 152.40 151.32 152 .80 151.32 11 Other equity 12 Earnings per share (in INR) (not annualised for the period s) Basic (0.21) 0.46 (3.73) 0.24 (9.90) Diluted 10.21\ 0.44 (3.73) 0.24 (9.901 Year ended 31-03 -2026 lAuditedl 24,364 .24 1 495.76 24,860.00 22,043.45 127.52 (8,24 1.16) 2,824. 43 2,104.1 1 2,099.27 3,715.07 24,672.69 187.31 (55.52} 131.79 131.79 (0.23) (0.23} 131.56 148.37 (16.58 ) 131.79 (0.23) 10.23\ 148.14 (16.58) 131.56 152.23 17,854.70 1.10 1.05

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Sr. No. A 2 B 2 3 BlueStone Jewellery and Lifestyle Limited Registered office: Site No. 89/2, Lava Kusha Arcade, Munnekolal Village, Outer Ring Road, Marathahalli, Bangalore 560 037, Karnataka, India Tel: +9122 4515 2729 Website : www.bluestone .com Parti culars CIN: L72900KA2011 PLC059678 Unaudited consolidated Balance Sheet as at 30 September 2026 /All amounts are in INR million unless otherwise stated) Asa t Assets 30 September 2026 Non-current assets Property, pla?:t .and equipment 2,688.07 Right-of-use assets 9,220 .90 Capital work-in-progress 24.36 Other intangible assets 18.37 !ntangible asset under development 19.60 Investments acco unted for using the equity method 35.70 Financial assets i) Other financial assets 758.42 Non-current tax assets (net) 114.44 Other non-current assets 2,206.42 Total non-current assets 15,086.28 Current assets Inventories Financial assets 30,934.2 4 i) Investmen ts 157.82 ii) Loans 0.25 iii) Trade receivables 341 .43 iv) Cash and cash equivalents 644 .33 v) Bank balances other than (iv) above 4,341.43 vi) Other financial assets 3,080.42 Other current assets 348.24 Total current assets 39,848.16 Total assets 54,934 .44 Equity and liabilities Equity Equity share capital 152.80 Share application money pending allo tment Other equity 18,210.91 Equity attributable to the owners of the Holdin g Company 18,363.71 Non-controlling Interest 1.68 Total equity 18,365.39 Non-current liabilities Financial liabilities i) Borrowings 2,355.50 ii) Lease liabilities 8,814 .01 iii) Other financial liabilities 185.49 Provisions 54.65 Total non-current liabilities 11 409.65 Current liabilities Financial liabilities i) Borrowings 6,563.74 ii) Gold on loan 4,556.42 iii) Lease liabilities 1,446.79 iv) Trade payables (a) Total outstanding dues of micro enterprises and small enterprises 234.27 (b) Total outstanding dues of creditors other than micro enterprises 1,268 .99 and small enterprises v) Other financial liabilities 2,074.19 Provisions 49.80 Other current liabilities 8,965.20 Total current liabilit ies 25,159.40 Total liabilit ies 36,569 .05 Total e uit and liabilities 54,934.44 As at 31 March 2026 2,662 .48 8,655.21 27.49 25.60 30.04 748.63 99.00 1,750 .34 13,998.79 26,718.09 436.14 0.02 75.43 1,075.24 4,041.48 3,015.42 249.51 35,611.33 49,610.12 152.23 0.02 17,854.70 18,006.95 23.08 18,030 .03 2,010.58 8,218.58 30.82 51.75 10,311.73 5,432.65 2,848.14 1,329.00 399.56 1,204.26 2,420.88 36.87 7,597.00 21,268.36 31,580.09

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BlueStone Jewellery and Lifestyle Limited Registered office: Site No. 89/2, Lava Kusha Arcade, Munnekolal Village, Outer Ring Road, Marathahalli , Bangalore 560 037, Karnataka , India Tel: +9122 4515 2729 Website: www.bluestone.com CIN: L 72900KA2011 PLC059678 Unaudited consolidated statement of cash flows for the half year ended 30 September 2026 (All amounts are in INR million unless otherwise stated) Particulars A. Cash flows from operating activities Profit/ (loss) before tax Adjustments for non cash items and other adjustments : Depreciation and amortisation Expense on employee stock option scheme Finance costs Share of loss of investments accounted for using the equity method Interest income Loss on sale of property, plant and equipment (net) Gain on mutual fund Liabilities no longer required written back Gain on termination of lease Unwinding of interest on financial assets carried at amortised cost Operating profit before working cap ital changes Working capital adjustments: Increase in other financial assets (Increase)/ Decrease in other assets Increase in inventories Increase in loans Increase in trade receivables (Decrease)/ Increase in other financial liabilities Increase in provisions Increase/ (Decrease) in gold on loan Increase in trade payables Increase in other current liabilities Cash generated/ (used) in operations Income tax paid (net) Net cash generated/ (used) in operating activities (A) 8. Cash flows from investing activities Acquisition of property, plant and equipment (including capital work-in-progress and capital advances) Proceeds from sale of property, plant and equipment Acquisition of intangible assets Payment for acquisition of associate Investment in fixed deposits Redemption of fixed deposits Investment in mutual funds Redemption of mutual funds Interest received on fixed deposits Net cash used in investing activities (B} C. Cash flows from financing activities Proceeds from issue of equity shares (net of IPO expenses) Proceeds from borrowings Repayment of borrowings Interest paid Payment of lease liabilities including interest Net cash (used)/ generated from financing activities (C} Net (decrease)/ increase in cash and cash equiva lents (A+B+C) Cash and cash equivalents at the beginning of the period/year Cash and cash equivalents at the end of the period/ year For the half year ended 30 September 2026 15.88 1,2,13_ 16 323.95 1,111.48 24.35 (183.5 1) 9.36 (13.74) (154.57) (12.38) (20.69) 2,343.29 (241.43) (489.76) (4,216.15) (0.23) (266.00) (202.43) 10.81 1,708.28 54.01 1,391.70 92.09 (15.44) 76.65 (490.83 ) 2.23 (19.60) (30.00) (4,743.99) 4,600.53 (411.57) 703.63 174.71 (214.89) 0.57 7,690.64 (6,214.63) (731.73) (1,037 52) (292.67) (430.9 1) 1,075.24 644.33 For the half year ended 30 September 2025 1,001.67 510.81 1,033.92 (148.77) 23.73 (1 7.58) (31.76) (14.65) (16.74) 1,497.94 (378.40) 84.61 (3,146.75) (0.18) (21.50) 227.25 10.60 (762.98) 98.69 1,643.60 (747.12) (10.19) (757.31) (544.60) 2.51 (3.33) (9,130.73) 3,868.46 (450.00) 571.71 134.33 (5,551.65) 7,970.84 7,192.48 (7,156.87) (709.52) (765.28) 6,531.65 222.69 487.75 710.44 The above consolidated statement of cash flows has been prepared under indirect method in accordance with the Indian Accounting Standard 7 on "Statement of Cash Flows".

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BlueStone Jewellery and Life style Limit ed Registered office : Site No. 89/ 2, Lava Kusha Arcade, Munnekolal Village, Outer Ring Road, Marath ahalli, Bangalore 560 037, Karnataka, India Tel: +9122 4515 2729 Website : www.blue ston e.com CIN: L72900KA2011PLC059678 Notes to consolidated unaudited financial results for the quarter and half year ended 30 September 2026 1) The consoli dated unaud ited financial resu lts of BlueStone Jewellery and Lifestyle Limited (the "Holding Company"), its subs idiary (together referred as "Group"), and its associate have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 'Interim Financial Report ing', prescribed under Section 133 of the Companies Act, 2013 ('the Act') read with relevant rules issued thereunder ('Ind AS 34') and othe r recognised accounting principles generally accepted in India and is in compliance with the Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. 2) The consolidated unaudited financial results have been reviewed by the Audit Committee and approved by the Board ot Dire.ctors at the Holding Company .at th.air meet ing held on 22 October 2026. These conso lidated unaudited financia l results have been reviewed by the statutory auditors of the Holding Company and they have issued an unmodified conclusion on these consolidated unaudited financial results. 3) The consolidated unaudited financial results of the Holding Company consist financial results of its subsidiary company, Ethereal House Private Limited and its associate company, Redefine Fashion Private Limited. 4) During the year ended 31 March 2026, the Holding Company has completed its Initial Public Offer ing ("IPO") of 29,799,798 equity shares of face value of Rs. 1 each comprising of fresh issue of 15,860,735 equity shares at an issue price of Rs. 517 per equity share aggregating to Rs. 8,200 million and an offer for sale of 13,939,063 equity shares at an issue price of Rs. 517 per equity share aggregating to Rs. 7,406.50 million. Pursuant to IPO, equity shares of the Holding Company were listed on BSE Limited (BSE) and National Stock Exchange (NSE) w.e.f. 19 August 2025. The utili sation of net IPO proceeds is summaris ed below: (Rs. in million I Total unutili sed Sr.No Objects of issue as per prospectus Amount as proposed in Revised amount* Amount utilized up to amount as on the Offer Document 30 September 2026 30 September 2026# 1 Working capital requirement 7,500.00 7,500.00 7,499.00 1.00 2 General corporate purpose 207.50 307.50 307.50 3 Issue expenses 492.50 392.50 227.80 164.70 Total 8,200.00 8,200.00 8,034.30 165.70 * The Board of Directors, vide resolution dated 23 April 2026, approved the reallocation of surplus of issue expenses for utilization towards general corporate purposes. # Out of the net proceeds which were unutilised as at 30 September 2026, Rs. 100 million are temporarily invested in fixed deposits and Rs. 65.70 million is held in the Company 's public accou nt. 5) The Board of Directors has approved investment of up to Rs. 100 million byway of subscription of compulsorily convertible cumulative preference shares of face value of Rs. 10 each in Redefine Fashion Private Limited. 6) During the quarter and half year ended 30 September 2026, the Holding Company has allotted 394,743 and 565,159 equity shares of Rs. 1 each, respecti vely, fully paid-up on exercise of stock options by employees in accordance with the Holding Company's stock option scheme . 7) The Group operate in a single operating segme nt of design, manufacture and sale of jewellery. Accordingly, the Group has only one reportable segment and disclosure as per Ind AS 108 "Operating Segment" is not applicable. Further, the entlre revenue of the Group is derived from the domestic market, hence no separate disclosure is required of revenue from operations by geographical area. 8) Figures of previous periods/ year have been regrouped, wherever necessary. 9) The above consolidated unaudited financial results are available on the Holding Company's website viz. www.bluestone.com and on the websites of BSE (www.bseind ia.com) and NSE (www.nse india.com). For and on behalf of the Board of Directors of BlueStone Jewellery and Lifestyle Limited Gaurav Singh Kushwaha Chairman and Managing Director DIN No. 01674879 Place: Mumbai Date: 22 October 2026

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MS KA & Associates LLP (Formerly known as MS KA & Associates) Chartered Accountants HO 602, Floor 6, Raheja Titanium Western Express Highway, Geetanjali Railway Colony, Ram Nagar, Goregaon (E) Mumbai 400063, INDIA Tel: +91 22 6974 0200 Independent Auditor's Review Report on standalone unaudited financial results of BlueStone Jewellery and Lifestyle Limited for the quarter and year to date pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To The Board of Directors of BlueStone Jewellery and Lifestyle Limited 1. We have reviewed the accompanying statement of standalone unaudited financial results of BlueStone Jewellery and Lifestyle Limited (hereinafter referred to as 'the Company') for the quarter ended September 30, 2026 and the year to date results for the period from April 01, 2026 to September 30, 2026 ('the Statement') attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('the Regulations'). 2. This Statement, which is the responsibility of the Company's Management and has been approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 'Interim Financial Reporting', prescribed under Section 133 of the Companies Act, 2013 ('the Act') read with relevant rules issued thereunder ('Ind AS 34') and other recognised accounting principles generally accepted in India and is in compliance with the Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Act and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 and other recognised account1ng principles generally accepted in India has not disclosed the information required to be disclosed in terms of the Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. For M S KA & Associates LLP (Formerly known as M S KA & Associates) Chartered Accountants ICAI Firm Registration No.105047W /W101187 Ankush Agrawal Partner Membership No.: 159694 UDIN: 161 Sq 6q l/8UU<MVf'29 Place: Mumbai Date: October 22, 2026 Registered Office: 602, Raheja Titanium, Western Express Highway, Goregaon (East), Mumbai-400063, Maharashtra, India Tel: +91 22 6974 0200 I LLPIN: ACT-3789 Ahmedabad I Bengaluru I Chandigarh I Chennai I Coimbatore I Goa I Gurugram I Hyderabad I Kochi I Kolkata I Pune www.mska.in

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Sr. No. I 1 2 3 4 5 6 7 8 9 10 BlueStone Jewellery and Lifesty le Limited Registered office: Site No. 89/2, Lava Kush a Arcade , Munnekolal Village, Outer Ring Road, Marathahalli, Bangalore 560037, Karnataka, India Tel: +91224515 2729 Website: www.bluestone.com CIN: L72900KA2011 PLC059678 Statement of standalone unaudited financial results for the quart er and half year ended 30 Septem ber 2026 /All amounts are in INR mi/lion unless othetWise stated) Quarter ended Half year ended Particulars 30-09-2026 30-06-2026 30-09-2025 30-09-2026 30-09-2025 !Unaudited] !Unaudited\ /Uneuditedl !Unaudited] !Unaudited\ ,~e::~ve~l,vn,vpe,a, ;ons I - - -o _8 1 /,;:Its .ts 7,331.94 I 5,130.93 14,712.82 10,056 .70 Other income 244.85 148.15 115.23 393.00 234.11 Total income 7,625.73 7,480.09 5,246.16 15,105.82 10,290.81 Expenses Cost of raw materials consumed 5,678.52 7,120.01 4,399.74 12,798.53 8,575.48 Change in inventories of finished goods and work-in-progress (996.69) {2,769.15) (1,297.57) (3,765.84) (2,569.65 ) Employee benefits expense 678.4 7 738.21 713.66 1,416.68 1,337 .47 Finance costs 576.26 547.44 522.29 1,123.70 1,050.03 Depreciation and amortizat ion expense 622.51 591.36 511.38 1,213.87 996.24 Othe r expenses 1,049.20 1,140.85 887.75 2,190.05 1,720.21 Total expenses 7,608.27 7,368.72 5,737.25 14,976.99 11,109 .78 Profit/ {loss) before tax for the period/ year (1-2) 17.46 111.37 1491.091 128.83 1818.97 Tax expense: Current tax . Deferred tax . . Total tax expense . . Profit/ (loss) after tax for the period/ year (3-4) 17.46 111.37 1491.091 128.83 (818.971 Other comprehensive income/ (loss): Items that will not be reclassified subsequently to profit or loss i. Re-measurement of employee defined benefit plans (4.96) (0.06) 2.82 (5.02) 0.80 ii. Income tax on (i) above . Other comprehensive Income / (loss) for the period/ year, net of tax (4.961 C0.061 2.82 15.021 0.80 Total comprehensive income/ (loss) for the period/ year (5+6) 12.50 111.31 /488.27' 123.81 1818.171 Paid up equity share capital (face value of INR 1 /- each) 152.80 152.40 151.32 152.80 151.32 Other equity Earnings per share (in INR) (not annualised for the periods) Basic 0.11 0.73 (3.52) 0.84 (9.34) Diluted 0.11 0.70 (3.52) 0.81 (9.34) Year ended 31-03-2026 !Audited! I I 24,412.30 491.81 24,904.11 22,042.90 {8,039.58) 2,786.94 2,095.18 2,081.18 3,677.49 24,644.11 260.00 260.00 (0.23) C0.231 259.77 152.23 18,031.85 2. 18 2.07

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BlueStone Jewellery and Lifesty le Limited Registered office: Site No. 89/2 , Lava Kusha Arcade , Munnekolal Village, Oute r Ring Road, Marathahalli , Bangalore 560037, Karnataka, India Tel: +9122 4515 2729 Website: www.bluestone.com CIN: L72900KA2011PLC059678 Unaudited standalone statement of cash flows for the half year ended 30 September 2026 (All amounts are in JNR million unless otherwise stated) Particulars A. Cash flows from operating activities Profit/ (loss) before tax A.djustrm:mts iornon cash items and orher aa]usrmenrs: Depreciati on and amortis ation E><pense on employee stock option scheme Finance costs Interest incom e Loss on sale of property, plant and equip ment (net) Gain on mutual fund liabilities no longe r required written back Gain on termi nation of lease Unwindi ng of inter est on financial assets carried at amortis ed cost Operating profit before working capital changes Working capital adjustments: Increase in other financia l assets (Increase)/ Decreas e in other assets Increase in invento ries Increase in loa ns Increase in trade receivab les (Decrease}/ Increase in other financial liabiliti es Increase in provisions Increase/ (decrease) in gold on loan (Decrease)/ Increase in trade payables Increase in oth er current liabilities Cash used in operations Income tax paid (net) Net cash generated / (used) in operating activities (A) B. Cash flows from investing activities Acquisition of property, plant and equipment (including capi tal work-in-prog ress and capital advances) Proc eeds from sale of property, plant and equipmen t Acquisition of intangible assets Payment for acquisit ion of associa te Investment in fixed deposits Redemption of fixed deposits Investment in mutua l funds Redemp tion of mutual funds Interest received on fixed deposits Net cash used in investing activities {B) C. Cash flows from financing activities Proceeds from issue of equity shares {net of IPO expenses) Proceeds from borrow ings Repayment of borrowings Interest paid Paymen t of tease liabilities includ ing intere st Net cash (used)/ generated from financing activities (C) Net (decrease)/ increase in cash and cash equivalents (A+B+C) Cash and cash equivale nts at the beginning of the period/ year Cash and cash equivalent s at the end of the period/ year For the half year ended 30 September 2026 128.83 1.213.87 323.79 1,097.77 (184.80) 9.36 (13.74) (154.57) (11.68) (20.1 1) 2,388.72 (430.06) (461.52) (3,947.80) (255.33) (280.89) 11.65 1.708.28 (55.45) 1.389.83 67.43 (15.44) 51.99 (453.77) 1.65 (19.60) (30.00) (4.743.99) 4.640.51 (411.57) 703.63 174.45 (138.69) 0.57 14.635.66 (13,159.65) (721.32) (1.010.65) (255.39) (342.09) 960.81 618.72 For the half year ended 30 September 2025 (818.97) 996.24 510.81 1,031.12 (145.77) 23.73 (17.58) (31.76) (14.67) (16.63) 1,516.52 (374.05) 100.83 (3,095.81) (0.11) (21.50) 225.37 10.60 (762.98) 76.85 1.641 .93 (682.35) (1 0.07) (692.42) (535.66) 2.51 (3.33) (9.130.73) 3,828.46 (450.00) 571.71 133.10 (5,583.94) 7.970.84 7.192.48 (7.156.87) (709.52) (761.37) 6,535.56 259.20 430.57 689.77 The above standalone statement of cash flows has been prepared unde r indirec t method in accordance with the Indian Accou nt ing Standard 7 on "Statement of Ca sh Flows".

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BlueStone Jewellery and Lifestyle Limtt:ed Registered office; Site No. 89/2, Lava Kusha Arcade, Munnekolal Village, Outer Ring Road, Marath ahalli, Bangal ore 560037, Karnataka, India Tel: +9122 4515 2729 Website: www.bluestone.com CIN: L72900KA2011PLC059678 Notes to standalone unaudited financial results fort he quarter and half year ended 30 September 2026 1) The standalone unaudited financial results of BlueStone Jewetlery and Lifestyle Limited ("the Company") have been prepared in acco rdance with the recognition and measu rement principles laid down in Indian Account ing Standard 34 'Interim Financial Reporting', prescribed under Section 133 of the Companies Act, 2013 ('the Act') read with relevant rules issued thereundc• ('Ind AS 34'} and other recognised accounting principles generally accepted in India and is in complian ce with the Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regula tions, 2015, as amended. 2.) lhti :.tcuicic.1io11ti u r1&udit ediimmcic.1i. n::.ull:. httve bel::!111tivit=wt=d by thi: AudlCon1rn iTI!::!t:! c.111d ul-'p,ovt:!d by t hti Dourci oi Ui1ticto1:. utth t:!ir n1!::!t:lin~i'11:::i6vn 22. October 2026. These standalone unaudited financial results have been reviewed by the statu tory auditors of the Company and they have issued an unmodified concius1on onthese standaione unaudi tedfinanciat results. 3) During the year ended 31 March 2026, the Company has completed its Initial Public Offering f'IPO~) of 29,799,798 equity shares of face value of Rs. 1 each compris ing of fresh issue of 15,860,735 equity shares at an issue price of Rs. 517 per equity share aggregating to Rs. 8.200 million and an offer for sale of 13,939,063 equity shares at an issue price of Rs. 517 per equity share aggregating to Rs. 7,406.50 million. Pursuant to IPO, equity shares of the Company were listed on BSE Limited (BSE) and National Stock Exchange (NSE} w.e.f. 19 August 2025. The utilisation of net IPO proceeds is summarised below: (Rs in million) Amount utilized up to Total unutili sed Sr.No Object s of issue as per prospectu s Amount as propo sed In Revised amount* amount as on 30 the Offer Document 30 September 2026 September 2026# 1 Working capital requirement 7,500.00 7,500.00 7,499.00 1.00 2 General corporate purpose 207.50 307.50 307.50 3 Issue expenses 492.50 392.50 227.80 164.70 Total 8,200.00 8,200.00 8,034.30 165.70 • The Board of Directors , vide resolution dated 23 April 2026, approved the reallocatio n of surplus of issue expenses for utili zation towards general corporate purposes. # Out of the net proceeds which were unu tilised as at 30 Septembe r 2026, Rs. 100 million are temporarily invested in fixed deposi ts and Rs. 65.70 million is held in the Company's public accoun t. 4) The Board of Directors has approved investment of up to Rs. 100 m illion byway of subscription of compulsor ily convertible cumulative preferen ce shares of face value of Rs. 10 each in Redefine Fashion Private limited. 5) During the quar1er and half year ended 30 September 2026, the Company has allotted 394.743 and 565,159 equity shares of Rs. 1 each. respect ively, fully paid-up on exercise of stock optio ns by employees in accordance with the the Company 's stock option scheme. 6) The Company operate in a single operating segment of design, manufacture and sale of jewellery. Accordingly, the Company has only one reportable segment and disclosure as per Ind AS 108 "Operating Segmenr is not applicab le. Further, the entire revenue of the Company is derived from the domestic market, hence no separate disclosure is required of revenue from operations by geographical area. 7) Figures of previous periods/year have been regrouped, wherever necessary. 8) The above standa lone unaud ited financial results are available on the Company 's website viz. www.bluestone.com and on the websites of BSE (www.bseind la.com) and NSE (www.nseindia.com). For and on behalf of the Board of Directors of Gaurav Singh Kushwaha Chairman and Managing Director DIN No. 01674879 Place: Mumbai Dat e: 22 October 2026

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34 Profit & Loss Statement Standalone | INR mn Particulars Quarter ended Half year ended Year ended 30 - 09 - 2026 (Unaudited) 30 - 06 - 2026 (Unaudited) 30 - 09 - 2025 (Unaudited) 30 - 09 - 2026 (Unaudited) 30 - 09 - 2025 (Unaudited) 31 - 03 - 2026 (Audited) Income Revenue from operations 7,380.88 7,331.94 5,130.93 14,712.82 10,056.70 24,412.30 Other income 244.85 148.15 115.23 393.00 234.11 491.81 Total income 7,625.73 7,480.09 5,246.16 15,105.82 10,290.81 24,904.11 Expenses Cost of raw materials consumed 5,678.52 7,120.01 4,399.74 12,798.53 8,575.48 22,042.90 Change in inventories of finished goods, work - in - progress and stock - in - trade (996.69) (2,769.15) (1,297.57) (3,765.84) (2,569.65) (8,039.58) Employee benefits expense 678.47 738.21 713.66 1,416.68 1,337.47 2,786.94 Finance costs 576.26 547.44 522.29 1,123.70 1,050.03 2,095.18 Depreciation and amortization expense 622.51 591.36 511.38 1,213.87 996.24 2,081.18 Other expenses 1,049.20 1,140.85 887.75 2,190.05 1,720.21 3,677.49 Total expenses 7,608.27 7,368.72 5,737.25 14,976.99 11,109.78 24,644.11 Profit/(Loss) before tax 17.46 111.37 (491.09) 128.83 (818.97) 260.00 Total tax expenses - - - - - - Profit/(Loss) for the period / year 17.46 111.37 (491.09) 128.83 (818.97) 260.00 Other comprehensive income / (loss) Items that will not be reclassified subsequently to profit or loss i . Re - measurement of employee defined benefit plans (4.96) (0.06) 2.82 (5.02) 0.80 (0.23) ii. Income tax on ( i ) above - - - - - - Other comprehensive profit/(loss) for the period/year, net of tax (4.96) (0.06) 2.82 (5.02) 0.80 (0.23) Total comprehensive profit/(loss) for the period/year 12.50 111.31 (488.27) 123.81 (818.17) 259.77 Earnings per share (in INR) (face value of INR 1 each) (not annualised for the periods) Basic 0.11 0.73 (3.52) 0.84 (9.34) 2.18 Diluted 0.11 0.70 (3.52) 0.81 (9.34) 2.07 Paid up equity share capital 152.80 152.40 151.32 152.80 151.32 152.23 Other equity 18,031.85

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35 Balance Sheet Standalone | INR million Particulars As on 30 September 2026 As on 31 March 2026 Particulars As on 30 September 2026 As on 31 March 2026 Assets Equity and liabilities Non - current assets Equity Property, plant and equipment 2,645.42 2,638.59 Equity share capital 152.80 152.23 Right - of - use assets 8,835.43 8,430.31 Share application money pending allotment - 0.02 Capital work - in - progress 22.29 26.02 Other equity 18,479.46 18,031.85 Other intangible assets 18.38 25.62 Total equity 18,632.26 18,184.10 Intangible asset under development 19.60 - Financial assets Non - current liabilities i ) Investments 554.98 524.98 Financial liabilities ii) Other financial assets 721.44 727.65 i ) Borrowings 2,355.50 2,010.58 Non - current tax assets (net) 114.12 98.68 ii) Lease liabilities 8,455.32 8,010.95 Deferred tax assets (net) - - iii) Other financial liabilities - 30.82 Other non - current assets 2,159.75 1,732.36 Provisions 54.65 50.68 Total non - current assets 15,091.41 14,204.21 Total non - current liabilities 10,865.47 10,103.03 Current assets Current liabilities Inventories 30,464.31 26,516.51 Financial liabilities Financial assets i ) Borrowings 6,563.74 5,432.65 i ) Investments 157.82 436.14 ii) Gold on loan 4,556.42 2,848.4 ii) Loans - - iii) Lease liabilities 1,409.76 1,307.34 iii) Trade receivables 330.31 74.98 iv) Trade payables iv) Cash and cash equivalents 618.72 960.81 (a) Total outstanding dues of micro enterprises and small enterprises 234.27 399.25 v) Bank balances other than (iv) above 4,301.43 4,041.46 (b) Total outstanding dues of creditors other than micro enterprises and small enterprises 1,230.02 1,160.11 vi) Other financial assets 3,281.02 3,015.07 v) Other financial liabilities 2,066.27 2,420.88 Other current assets 322.82 237.91 Provisions 49.38 36.68 Total current assets 39,476.43 35,282.88 Other current liabilities 8,960.25 7,594.91 Total current liabilities 25,070.11 21,199.96 Total liabilities 35,935.58 31,302.99 Total assets 54,567.84 49,487.09 Total equity and liabilities 54,567.84 49,487.09

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36 Cash Flow Statement Standalone | INR mn A. Cash flows from operating activities For half year ended 30 Sept 2026 For half year ended 30 Sept 2025 B. Cash flows from investing activities For half year ended 30 Sept 2026 For half year ended 30 Sept 2025 Profit / (Loss) before tax 128.83 (818.97) Acquisition of property, plant and equipment (including capital work - in - progress and capital advances) (453.77) (535.66) Adjustments for non cash items and other adjustments : Depreciation and amortisation 1,213.87 996.24 Proceeds from sale of property, plant and equipment 1.65 2.51 Expense on employee stock option scheme 323.79 510.81 Acquisition of intangible assets (19.60) (3.33) Finance costs 1,097.77 1031.12 Payment for acquisition of subsidiary - - Interest income (184.80) (145.77) Payment for acquisition of associate (30.00) - Loss / (Profit) on sale of property, plant and equipment (net) 9.36 23.73 Investment in fixed deposits (4,743.99) (9,130.73) Rent waiver on lease liabilities - - Redemption of fixed deposits 4,640.51 3,828.46 Gain on mutual fund (13.74) (17.58) Investment in mutual funds (411.57) (450.00) Liabilities no longer required written back (154.57) (31.67) Redemption of mutual funds 703.63 571.71 (Gain)/ loss on termination of lease (11.68) (14.67) Interest received on fixed deposits 174.45 133.10 Fair value gain on call option in subsidiary - - Net cash used in investing activities (B) (138.69) (5,583.94) Intangible asset under development written off - - Unwinding of interest on financial assets carried at amortised cost (20.11) (16.63) Operating profit before working capital changes 2,388.72 1,516.52 Working capital adjustments: C. Cash flows from financing activities For half year ended 30 Sept 2026 For half year ended 30 Sept 2025 Decrease / (Increase) in other financial assets (430.06) (374.05) Increase in other assets (461.52) 100.83 Proceeds from issue of equity shares (net of IPO expenses) 0.57 7,970.84 Increase in inventories (3,947.80) (3,095.81) Share application money pending allotment - - Decrease in loans - (0.11) Proceeds from issue of preference shares - - Increase in trade receivables (255.33) (21.50) Proceeds from borrowings 14,635.66 7,192..48 Decrease in other financial liabilities (280.89) 225.37 Repayment of borrowings (13,159.65) (7,156.87) Increase in provisions 11.65 10.60 Interest paid (721.32) (709.52) Decrease in gold on loan 1,708.28 (762.98) Payment of lease liabilities including interest (1,010.65) (761.37) (Decrease) / Increase in trade payables (55.45) 76.85 Net cash generated from financing activities (C) (255.39) 6,535.56 Increase in other current liabilities 1,389.83 1,641.93 Net (decrease) / increase in cash and cash equivalents (A+B+C) (342.09) 259.20 Cash used in operations 67.43 (682.35) Cash and cash equivalents at the beginning of the year 960.81 430.57 Income tax paid (net) (15.44) (10.07) Cash and cash equivalents at the end of the year 618.72 689.77 Net cash used in operating activities (A) 51.99 (692.42)

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37 Profit & Loss Statement Consolidated | INR mn Particulars Quarter ended For the half year ended Year ended 30 - 09 - 2026 (Unaudited) 30 - 06 - 2026 (Unaudited) 30 - 09 - 2025 (Unaudited) 30 - 09 - 2026 (Unaudited) 30 - 09 - 2025 (Unaudited) 31 - 03 - 2026 (Audited) Income Revenue from operations 7,450.33 7,368.46 5,136.27 14,818.79 10,063.05 24,364.24 Other income 243.81 149.66 1 16.58 393.47 237.20 495.76 Total income 7,694.14 7,518.12 5 ,252.85 15,212.26 10,300.25 24,860.00 Expenses Cost of raw materials consumed 5,880.24 7,120.01 4,399.75 13,000.25 8,575.49 22,043.45 Purchases of stock - in - trade 51.98 47.58 16 .65 99.56 53.15 127.52 Change in inventories of finished goods, work - in - progress and stock - in - trade (1,230.72) (2,803.47) (1,312.48) (4,034.19) (2,620.59) (8,241.16) Employee benefits expense 705.78 758.86 720.87 1,464.64 1,350.08 2,824.43 Finance costs 583.76 553.65 524.15 1,137.41 1,052.83 2,104.11 Depreciation and amortization expense 638.70 604.46 514.83 1,243.16 1,001.67 2,099.27 Other expenses 1,094.09 1,167.12 8 94.67 2,261.21 1,730.31 3,715.07 Total expenses 7,723.83 7,448.21 5,758.44 15,172.04 11,142.94 24,672.69 Profit/(loss) before share of net profit /(loss) of investments accounted for using the equity method and tax (29.69) 69.91 (505.59) 40.22 (842.69) 187.31 Share of loss of investments accounted for using the equity method (14.04) (10.30) (15.43) (24.34) (25.78) (55.52) Profit/(loss) before tax (43.73) 59.61 (521.02) 15.88 (868.47) 131.79 Total tax expenses - - - - - - Profit/(loss) for the period / year (43.73) 59.61 (521.02) 15.88 (868.47) 131.79 Other comprehensive income / (loss) Items that will not be reclassified subsequently to profit or loss i . Re - measurement of employee defined benefit plans (4.96) (0.06) 2 .82 (5.02) 0.80 (0.23) ii. Income tax on ( i ) above - - - - 0 - Other comprehensive profit/(loss) for the period / year, net of tax (4.96) (0.06) 2 .82 (5.02) 0.80 (0.23) Total comprehensive profit/(loss) for the period / year (48.69) 59.55 (518.20) 10.86 (867.67) 131.56 Profit/(loss) attributable to: Owners of the Holding Company (32.32) 69.60 (517.49) 37.28 (862.69) 148.37 Non - Controlling Interest (11.41) (9.99) (3.53) (21.40) (5.78) (16.58) (43.73) 59.61 (521.02) 15.88 (868.47) 131.79 Other comprehensive income attributable to: Owners of the Holding Company (4.96) (0.06) 2.82 (5.02) 0.80 (0.23) Non - Controlling Interest - - - - - - (4.96) (0.06) 2 .82 (5.02) 0.80 (0.23) Total comprehensive income attributable to: Owners of the Holding Company (37.28) 69.54 (514.67) 32.26 (861.89) 148.14 Non - Controlling Interest (11.41) (9.99) (3.53) (21.40) (5.78) (16.58) (48.69) 59.55 (518.20) 10.86 (867.67) 131.56 Earnings per share (in INR) (Face Value of INR 1 each) (not annualised for periods) Basic (0.21) 0.46 (3.73) 0.24 (9.90) 1.10 Diluted (0.21) 0.44 (3.73) 0.24 (9.90) 1.05 Paid up equity share capital 152.80 152.40 151.32 152.80 151.32 152.23 Other equity 17,854.70

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38 Balance Sheet Consolidated | INR mn Particulars As on 30 September 2026 As on 31 March 2026 Particulars As on 30 September 2026 As on 31 March 2026 Assets Equity and liabilities Non - current assets Equity Property, plant and equipment 2,688.07 2,662.48 Equity share capital 152.80 152.23 Right - of - use assets 9,220.90 8,655.21 Share application money pending allotment - 0.02 Capital work - in - progress 24.36 27.49 Other equity 18,210.91 17,845.70 Other intangible assets 18.37 25.60 Equity attributable to the owners of the parent 18,363.71 18,006.95 Intangible asset under development 19.60 - Non - controlling interest 1.68 23.08 Investments accounted for using equity method 35.70 30.04 Total equity 18,365.39 18,030.03 Financial assets Non - current liabilities i) Other financial assets 758.42 748.63 Financial liabilities Non - current tax assets (net) 114.44 99.00 i ) Borrowings 2,355.50 2,010.58 Deferred tax assets (net) - - ii) Lease liabilities 8,814.01 8,218.58 Other non - current assets 2,206.42 1,750.34 iii) Other financial liabilities 185.49 30.82 Total non - current assets 15,086.28 13,998.79 Provisions 54.65 51.75 Total non - current liabilities 11,409.65 10,311.73 Current assets Current liabilities Inventories 30,934.24 26,718.09 Financial liabilities Financial assets i ) Borrowings 6,563.74 5,432.65 i ) Investments 157.82 436.14 ii) Gold on loan 4,556.42 2,848.14 ii) Loans 0.25 0.02 iii) Lease liabilities 1,446.79 1,329.00 iii) Trade receivables 341.43 75.43 iv) Trade payables iv) Cash and cash equivalents 644.33 1,075.24 (a) Total outstanding dues of micro & small enterprises 234.27 399.56 v) Bank balances other than (iv) above 4,341.43 4,041.48 (b) Total outstanding dues of creditors other than micro & small enterprises 1,268.99 1,204.26 vi) Other financial assets 3,080.42 3,015.42 v) Other financial liabilities 2,074.19 2,420.88 Other current assets 348.24 249.51 Provisions 49.80 36.87 Total current assets 39,848.16 35,611.33 Other current liabilities 8,965.20 7,597.00 Total current liabilities 25,159.40 21,268.36 Total liabilities 36,569.05 31,580.09 Total assets 54,934.44 49,610.12 Total equity and liabilities 54,934.44 49,610.12

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39 Cash Flow Statement Consolidated | INR mn A. Cash flows from operating activities For half year ended 30 Sept 2026 For half year ended 30 Sept 2025 B. Cash flows from investing activities For half year ended 30 Sept 2026 For half year ended 30 Sept 2025 Profit / (Loss) before tax 15.88 (842.69) Acquisition of property, plant and equipment (including capital work - in - progress and capital advances) (490.83) (544.60) Adjustments for non cash items and other adjustments : Depreciation and amortisation 1,243.16 1,001.67 Proceeds from sale of property, plant and equipment 2.23 2.51 Expense on employee stock option scheme 323.95 510.81 Acquisition of intangible assets (19.60) (3.33) Finance costs 1,111.48 1,033.92 P ayment for acquisition of associate (30.00) - Share of loss of investments accounted for using the equity method 24.35 - Investment in fixed deposits (4,743.99) (9,130.73) Interest income (183.51) 148.77 Redemption of fixed deposits 4,600.53 3,868.46 Loss / (Profit) on sale of property, plant and equipment (net) 9.36 23.73 Investment in mutual funds (411.57) (450.00) Rent waiver on lease liabilities - - Redemption of mutual funds 703.63 571.71 Gain on mutual fund (13.74) (17.58) Interest received on fixed deposits 174.71 134.33 Liabilities no longer required written back (154.57) (31.76) Net cash used in investing activities (B) (214.89) (5,551.65) (Gain)/ loss on termination of lease (12.38) (14.65) Fair value gain on call option in subsidiary - - Intangible asset under development written off - - Unwinding of interest on financial assets carried at amortised cost (20.69) (16.74) Operating profit before working capital changes 2,343.29 1,497.94 Working capital adjustments: C. Cash flows from financing activities For half year ended 30 Sept 2026 For half year ended 30 Sept 2025 Decrease / (Increase) in other financial assets (241.43) (378.40) Decrease / (Increase) in other assets (489.76) 84.61 Proceeds from issue of equity shares (net of IPO expenses) 0.57 7,970.84 Increase in inventories (4,216.15) (3,146.75) Share application money pending allotment - - Decrease in loans (0.23) (0.18) Proceeds from issue of preference shares - - (Increase) / decrease in trade receivables (266.00) (21.50) Proceeds from borrowings 7,690.64 7,192.48 Decrease in other financial liabilities (202.43) 227.25 Repayment of borrowings (6,214.63) (7,156.87) Increase in provisions 10.81 10.60 Interest paid (731.73) (709.52) (Decrease) / Increase in gold on loan 1,708.28 (762.98) Payment of lease liabilities including interest (1,037.52) (765.28) (Decrease) / Increase in trade payables 54.01 98.69 Net cash generated from financing activities (C) (292.67) 6,531.65 Increase in other current liabilities 1,391.70 1,643.60 Net (decrease) / increase in cash and cash equivalents (A+B+C) (430.91) 222.69 Cash used in operations 92.09 (747.12) Cash and cash equivalents at the beginning of the year 1,075.24 487.75 Income tax paid (net) (15.44) (10.91) Cash and cash equivalents at the end of the year 644.33 710.44 Net cash used in operating activities (A) 76.65 (757.31)

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40 Glossary Term Description A&P Advertising expense plus selling or promotional expenses. Adjusted EBITDA EBITDA plus ESOP charge plus franchisee commission as part of opex. Franchisee commission includes minimum guarantee on the f ran chisee deposits and the margin paid to the Franchisees over and above the minimum guarantee (forms part of brokerage and commission in our Restated Financial Information). Adjusted PAT Reported PAT adjusted for ESOP expense, net impact of Ind AS 116 accounting and any inventory gains/losses. Average Inventory Average of opening and closing inventory. Average Order Value or AOV Average Order Value (AOV) measures the average amount of revenue generated per customer order Capital Employed Total equity plus non - current borrowings plus current borrowings (including gold metal loan). Cash PAT Profit before tax, adding back depreciation and amortisation, finance cost on leases and ESOP expenses, and deducting rent pa id Contribution Margin Margin after deducting direct costs from gross profit EBITDA EBITDA is calculated as profit / (loss) before tax less other income plus depreciation and amortisation expense plus finance cos t plus fair value through profit or loss (one - time loss in Fiscal 2022). EBITDA Margin EBITDA Margin is calculated as EBITDA as a percentage of revenue from operations. Gross Debt Non - current borrowings plus current borrowings. Gross Margin Gross Margin is calculated as gross profit divided by revenue from operations. Gross Profit Gross Profit is calculated as revenue from operations less cost of raw materials consumed plus change in inventory. Inventory Turnover Ratio Inventory Turnover Ratio is calculated as the annualised revenue from operations divided by the average inventory for the per iod (calculated as the average between the opening and closing inventory for the period). Net Debt (without GML) Gross Debt excluding GML less cash and bank balances. Net Debt / Equity (without GML) Net debt without GML divided by total equity Net Debt (with GML) Gross Debt - Cash and Bank Balances (including all unrestricted bank deposits, and deposits for Gold Metal Loan) Net Debt / Equity (with GML) Net debt with GML divided by total equity Number of customers Number of customers refers to the total count of unique customers who have made and retained a purchase to date PAT Profit after tax PAT Margin Profit after tax as a percentage of revenue from operations. Pre - IndAS EBITDA Management metric to understand operating EBITDA of the business. Pre - IndAS EBITDA is reported EBITDA adjusted to add back ESOP expenses and franchise commission, deduct rent paid on leases (accounted for as depreciation and interest under Ind AS 116) and exclude in ven tory gains/losses. A reconciliation is provided in the housekeeping section. Return on Capital Employed or ROCE EBIT / (Equity + Net Debt) Same Store Sales Growth (SSSG) Same Store Sales Growth represents the period - over - period percentage change in net revenue from operations of all stores which a re operational for more than 12 months for the reported Fiscal. Studded Revenue Studded Revenue refers to the revenue generated through the sale of Studded Jewellery. Studded jewellery refers to jewellery pie ces that prominently feature gemstones or precious stones. These stones, such as diamonds, rubies, etc., are set into jewellery to add colour and val ue. (Source: RedSeer Report)

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