PC Jeweller shares declined nearly 2% in morning deals on Thursday, October 1, looking set to extend the losing streak for the sixth consecutive session. According to Live Mint, the stock opened at ₹13.20 against its previous close and dropped to an intraday low of ₹12.95. Around 9:55 am, the jewellery stock was 1.6% down at ₹13. Despite the recent decline, the stock has delivered strong multibagger returns of nearly 400% over the last three years and has jumped nearly 60% in the last six months. The stock recently hit a 52-week high of ₹14.87 on September 23 after hitting a 52-week low of ₹7.45 on March 30. As per Upstox Securities, the stock has also gained 53% year-to-date, reflecting sustained investor interest in the debt-free transformation story.
PC Jeweller held its 21st Annual General Meeting (AGM) on Wednesday, September 30, 2026, wherein it considered and adopted its audited standalone financial statements for the financial year 2026 (FY26). According to the company's exchange filing, its consolidated revenue from operations stood at ₹3,353 crore for FY26, as compared to ₹2,245 crore in the previous year. The company's consolidated net profit for the year came at ₹722 crore compared to ₹577 crore in FY25. The debt-free status is expected to materially strengthen PC Jeweller's balance sheet and financial position, with the company noting it will save on financing costs in the future, which will have a positive impact on its bottom line. As reported by The Economic Times, the company's Q1 FY27 profit rose 37% year-on-year to ₹222 crore and revenue increased 21% to ₹877 crore, reflecting improved performance.
PC Jeweller shares gained 3.61% to ₹14.63 on Monday after the company announced it has become debt-free by clearing dues to all 14 consortium banks ahead of schedule. According to reports from The Economic Times, the settlement agreement was signed in September 2024 and aimed to resolve a stressed loan book that stood at nearly ₹4,100 crore as of March 2024. The consortium was led by State Bank of India with other members including Union Bank, Punjab National Bank, Axis Bank, IndusInd Bank, Bank of India, IDBI Bank, Karur Vysya Bank, Kotak Mahindra Bank, Indian Overseas Bank, Canara Bank, Indian Bank, Bank of Baroda and IDFC First Bank. As per The Economic Times, the company announced on Friday that it has completed all its repayments ahead of scheduled due dates, with the debt-free status expected to materially strengthen its balance sheet and financial position. In an exchange filing on Friday, the company confirmed it has successfully discharged the remaining outstanding debt of the banks and achieved its financial objective of a Debt-Free status. The company has now received No Objection cum No Dues cum Release Letters from all 14 consortium banks following the repayment of outstanding debt, with the last letter received on Wednesday. During the debt repayment period, the company incurred and paid interest amounting to approximately ₹175 crores to the banks.
The company plans to establish up to 100 new showrooms, both owned and franchised, in the next 12 to 18 months. According to Live Mint, the company, while underscoring that the jewellery market is mainly ruled by the unorganised sector in India, said it wants to explore the opportunity to tap these untapped rural and semi-urban markets located in tier 4 and below cities. Additionally, the company is also planning to launch a new jewellery brand which will be lightweight, budget-friendly, daily wear and most importantly, targeting youngsters. The company's market capitalisation stood at over ₹13,760 crore and its total income rose to ₹879.27 crore from ₹807.88 crore in the previous year. The debt-free status positions PC Jeweller for continued growth and improved operational efficiency, with experts noting that the company's recent earnings have demonstrated upward momentum in revenue and operating profitability.
On the technical front, Jigar S. Patel, Senior Manager of Equity Technical Research at Anand Rathi Share and Stock Brokers, underscored that PC Jeweller is showing signs of weakness after forming a double-top pattern on the chart, accompanied by a bearish divergence on the RSI, indicating weakening momentum. The combination suggests that the stock may enter a period of consolidation or witness profit-booking from current levels. "Traders who are already holding the stock may consider locking in partial profits, while fresh long positions should be avoided until a clear breakout is witnessed. The immediate resistance is placed near ₹15, which remains the key level to watch on the upside. A decisive and sustained move above ₹15 could negate the current cautious setup and trigger further upside momentum," said Patel. "On the downside, ₹12 acts as the major support zone. A break below this level could further weaken the structure. Until ₹15 is decisively taken out, a cautious approach is advisable, with focus on protecting existing profits," Patel added. Despite the recent weakness, experts note that the company's act on debt settlement is positive, though the recent sharp rise in the stock has driven the valuation up.
