PC Jeweller

Quick check

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• DebtLow debtIt owes ₹339 Cr against ₹9,300 Cr of shareholders' money (Sep 2026), 0.04 times.
• ResultsGrowingIn the Sep 2026 quarter, sales rose 28% and profit rose 58% from a year earlier.
• DilutionSmall dilutionIssued 9.72 crore new shares in the last year (+0.9%), raising ₹631 Cr, partly to the promoters.
• PromotersPromoters buyingThe promoters (founders or parent) own 39%, up from 38% in Sep 2025.
• ValuationNormal for this stockThe share trades at 19.7 times its yearly earnings (P/E), pricier than 72% of the time in the last 5 years. Its usual P/E is about 16.

PC Jeweller against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

• Valuation (P/E)19.7 against a typical 20.9: cheaper than most peers (1st = cheapest).49th of 106
• Sales growth+27.8% against a typical +34.8% from a year earlier.47th of 79
• Profit growth+57.6% against a typical +33.3% from a year earlier.27th of 73
• Share price, 3 months+83% against a typical +3.3%.7th of 92
• Size₹ 17,546.9 Cr. market value against a typical ₹ 145.6 Cr. (1st = largest).4th of 94

Exchange filings and their impact on the company.

• 21 Oct 2026Statement of deviation(s) or variation(s) under Reg. 32Medium impactPositivePrice −2.4% on 22 Oct
  Promoter infused Rs 131 cr via warrant conversion, completing Rs 500 cr issue fully used to repay bank debt.

  PC Jeweller completed conversion of 9.72 crore promoter warrants at Rs 18 per share, receiving Rs 131.25 crore during the quarter ended September 2026. This completes the Rs 500 crore preferential issue, which has been fully utilized with Rs 434.42 crore for repayment of bank debts, Rs 65.22 crore for working capital and Rs 0.36 crore for issue expenses. The company confirmed there was no deviation from stated objects, leaving it substantially debt-reduced going forward.

  Full analysisFiling
• 21 Oct 2026Outcome of Board MeetingHigh impactVery positivePrice −2.4% on 22 Oct
  Q2 revenue up 28% to Rs 1,054 cr with operating PAT doubling and company turning debt-free.

  PC Jeweller reported Q2FY27 consolidated sales of Rs 1,054 crore, up 28% year-on-year, with operating PAT up 107% to Rs 299 crore and H1 sales of Rs 1,932 crore up 25%. The company repaid all dues to its 14 consortium banks and became debt-free, with charges and guarantees released, and realised about Rs 142 crore of long-pending export receivables during the quarter. It plans up to 100 new large-format showrooms over 12-18 months, micro-franchise tie-ups with NSDC and UP government, a new lightweight and lab-grown diamond brand for Gen-Z, and has started work on its Chad gold mining licence.

  Full analysisFiling
• 8 Oct 2026Disclosure of material issueHigh impactVery positivePrice +6.6% on 9 Oct
  PC Jeweller is now fully debt-free with all pledged assets and guarantees released.

  PC Jeweller said on October 8, 2026 that it has cleared all outstanding consortium debt and received No Dues letters from all 14 banks. All mortgaged assets, title deeds, charges, securities and personal and corporate guarantees have now been released. This makes the company effectively debt-free, down from borrowings of Rs 4150 crore in FY24 and Rs 1167 crore in FY26, which should lower interest costs and improve operational flexibility.

  Full analysisFiling
• 7 Oct 2026Disclosure of material issueHigh impactVery positivePrice +5.8% on 8 Oct
  28% sales growth plus debt-free status and Rs 500 cr promoter funding sharply improves growth and balance sheet.

  PC Jeweller reported about 28% year-on-year growth in consolidated revenue for the quarter ended September 2026 on healthy consumer demand. It collected about Rs 142 crore from long-outstanding export debtors and said the dispute with export debtors is resolved. During the quarter it repaid all bank debt to become debt-free ahead of schedule and completed its up to Rs 500 crore preferential issue of shares and warrants to promoter Balram Garg on 24 September 2026, which should save interest costs and strengthen the balance sheet.

  Full analysisFiling

Results dates and other board meetings. Full calendar

Compounded yearly rates over each period.

Listed companies in the same business.

Vishan Deo

Chief Financial Officer, Executive Director - Finance

Vijay Panwar

Compliance Officer, Company Secretary

Balram Garg

Managing Director, Executive Director

Ramesh Kumar Sharma

Whole Time Director