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PC Jeweller Goes Debt-Free, Shares Surge
12 Oct
Summary
- Company repaid all dues to 14 consortium banks, achieving debt-free status.
- Mortgaged assets released after settling ₹3,000 crore debt via OTS.
- Q2 FY27 revenue grew 28% YoY, with ₹142 crore export remittances.
PC Jeweller has successfully become debt-free by clearing its outstanding dues to all 14 consortium banks. This significant financial achievement involved a one-time settlement of approximately ₹3,000 crore, resolving the company's total debt. Following the repayment, all mortgaged assets belonging to the company and its guarantors have been released, along with original title deeds and all associated charges.
Furthermore, PC Jeweller reported a strong financial performance in the July-September quarter of FY27, with consolidated revenue rising by 28% year-on-year. This growth was attributed to healthy consumer demand. The company also facilitated remittances amounting to ₹142 crore from outstanding export debtors during the same quarter.
The early completion of these repayments is expected to significantly reduce interest costs, thereby positively impacting the company's profitability and strengthening its balance sheet. PC Jeweller, a prominent Indian jewellery firm, operates around 50 retail stores across major cities, and its shares have shown considerable upward momentum in recent months.
