PC Jeweller shares rallied 6% on Thursday, hitting an intraday high of ₹10.75 after the company announced significant progress in debt repayment. According to a regulatory filing, the jewellery firm has now successfully cleared and repaid all outstanding debt with respect to one more consortium bank, bringing the total to 9 out of 14 consortium banks that have been fully repaid. The settlement agreement was dated September 30, 2024, representing a one-time resolution of a stressed loan book that stood at nearly ₹4,100 crore as of March 2024. The stock ended at ₹10.54, up by ₹0.36, or 3.54% on the BSE, with the company having also discharged more than 96% of the outstanding debt of the remaining five banks, with all repayments completed ahead of scheduled due dates.
PC Jeweller remains firmly on track to achieve debt-free status in the current month, which will materially strengthen its balance sheet and financial position. As reported by the company, it expects to discharge the remaining less than 4% of outstanding debt of the remaining 5 banks and achieve complete debt-free status in the current month itself. The settlement agreement, signed on September 30, 2024, was a one-time settlement between PC Jeweller and a 14-bank consortium led by State Bank of India to resolve the stressed loan book. The consortium includes major banks such as 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.
The company's debt clearance progress comes alongside robust financial results for Q1 FY27. According to reports, PC Jeweller reported a 37% increase in consolidated net profit to ₹222 crore for the quarter ended June, compared to ₹161.93 crore in the year-ago period. The company's total income rose to ₹879.27 crore in Q1 FY27 from ₹807.88 crore in the corresponding period of the preceding year. Most significantly, the jewellery retailer's operating profit or earnings before interest, tax, depreciation and amortisation (EBITDA) climbed 90% to ₹242 crore in the reporting quarter from ₹127 crore in the same quarter of the previous fiscal year. The company also strengthened its capital position, raising ₹2,702.11 crore through a preferential issue of fully convertible warrants during the quarter ended June 2026, with promoters converting an additional 4.16 crore warrants into equity shares in the current quarter.
PC Jeweller shares have demonstrated strong performance across multiple timeframes, with the stock gaining 14% from the beginning of the year, 10% over a month, and 18% for a six-month period. As of the latest trading session, the stock was trading at ₹10.63 apiece on the National Stock Exchange, gaining 4.42% at 2:30 PM. The stock had previously hit a 52-week high of ₹15.38 on September 17, 2025, and a 52-week low of ₹7.47 on March 30, 2026. The latest rally of up to 6% represents a significant recovery from recent declines and reflects strong investor confidence in the company's debt clearance progress and the material strengthening of its balance sheet through the successful resolution of its stressed loan book.
