PC Jeweller Ltd announced on Friday (April 17) that it has reduced its outstanding bank debt by around 10% in line with its joint settlement agreement with consortium lenders, as part of its ongoing debt reduction plan. According to reports from CNBC TV18, the company has now repaid and discharged more than 90% of its outstanding bank debt since the execution of the settlement agreement. The progress aligns with the company's objective of achieving a debt-free status and moving towards completing its financial restructuring exercise.
The debt reduction comes after PC Jeweller reported strong financial performance last week. As reported by CNBC TV18, the company achieved a 32% year-on-year rise in standalone revenue for the March quarter. For the full financial year FY26, revenue grew around 49% year-on-year, supported by steady performance across quarters. During the quarter, the company had reduced outstanding bank debt by approximately 23% under a joint settlement framework, with a large portion of dues already repaid.
Beyond debt reduction, PC Jeweller has undertaken several strategic initiatives. According to CNBC TV18, the company signed a memorandum of understanding with the National Skill Development Corporation to develop up to 2,00,000 micro-entrepreneurs over five years in the gems and jewellery segment, aimed at expanding its retail footprint. Additionally, a subsidiary incorporated PCJ Mining SARL in Chad to explore opportunities in precious metal mining, indicating early steps towards backward integration.
Shares of PC Jeweller Ltd ended at ₹9.58, up by ₹0.050, or 0.52% on the BSE on April 17, as reported by CNBC TV18. The modest gain reflects investor confidence in the company's continued progress towards financial restructuring and its commitment to achieving a debt-free position in the near term.
