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PC Jeweller Repays 90% Debt: A Debt-Free Future Near?
17 Apr
Summary
- Outstanding bank debt reduced by 10% in the March quarter.
- Over 90% of bank debt repaid since settlement agreement.
- New venture into precious metal mining in Chad initiated.
PC Jeweller Ltd has made substantial progress in its debt reduction plan, reporting a 10% decrease in outstanding bank debt during the March quarter. This latest repayment brings the total to over 90% of its bank debt discharged since the joint settlement agreement with consortium lenders was executed.
The company's financial restructuring exercise is moving towards completion, with a stated commitment to achieving a debt-free position in the near term. This financial discipline was complemented by a 32% year-on-year rise in standalone revenue for the March quarter and a 49% revenue growth for FY26.
Furthering its strategic initiatives, PC Jeweller has signed a memorandum of understanding with the National Skill Development Corporation to foster up to 2,00,000 micro-entrepreneurs in the gems and jewellery segment over five years. Additionally, a subsidiary has been incorporated in Chad to explore precious metal mining, signaling a move towards backward integration.
