PC Jeweller shares surged over 37% in three consecutive sessions, reaching an intraday high of ₹13.66 on the BSE on September 7. The stock had already gained 11% on September 4, hitting a nine-month high of ₹11.71 and taking the company's market capitalisation to about ₹11,250 crore. The latest surge came after the company announced significant progress in debt repayment, with the stock now gaining about 25% so far in 2026, significantly outpacing the Nifty 50's 8.4% decline over the same period. The sharp rise came despite a positive broader market, with the Sensex up 533 points (0.70%) and Nifty 50 gaining 70 points (0.29%), as PC Jeweller substantially outperformed benchmark indices. However, the stock reversed sharply on Tuesday, September 8, declining 5.5% to hit a day's low of ₹13.17 as investors appeared to book profits following the recent surge. Despite Tuesday's decline, PC Jeweller shares have delivered significant gains across several timeframes, surging over 38% in the last 1 month, 53% over 3 months and 50% over 6 months, with the stock remaining up 31% in the past week and 45% so far in 2026.
PC Jeweller 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. According to the latest announcement, the jewellery firm has discharged more than 96% of the outstanding debt of the remaining five banks, with all repayments completed ahead of scheduled due dates. 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 company remains firmly on track to discharge the remaining less than 4% of the outstanding debt of the remaining five banks and achieve complete debt-free status in the current month itself, which will materially strengthen its balance sheet and financial position. The successful clearance of debt has brought the company closer to its debt-free objective, with repayments completed across 9 of the 14 consortium banks and more than 96% of the outstanding debt of the other 5 banks already discharged.
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. Additionally, PC Jeweller's financial performance has provided support to the stock's recent momentum, with consolidated revenue rising approximately 21% year-on-year to ₹877 crore during Q1 FY27 and gross profit recording an even sharper increase, surging 81% YoY to ₹260 crore, helped by improved customer demand and higher footfall. The company's consolidated operating PAT, excluding other income, surged to ₹213 crore in Q1 FY27 from ₹79 crore in the year-ago quarter, translating into an impressive 168% YoY growth.
The company is also preparing to raise capital to support its future growth plans. In July 2026, the board approved a proposal to raise up to ₹1,000 crore through a qualified institutional placement (QIP), subject to the requisite approvals. According to the company's exchange filing, the proposed fundraising will primarily be used to support future growth opportunities, strengthen financial flexibility and enhance the Company's ability to scale its operations. The stock's recent performance also comes against a wide 52-week trading range, with PC Jeweller hitting a 52-week low of ₹7.45 on March 30 this year after touching a 52-week high of ₹15.38 on September 17 last year. Despite Tuesday's decline, PC Jeweller shares have delivered stellar long-term returns, gaining 388% over three years and 424% over five years, significantly outperforming broader market indices.
