PC Jeweller Reports 80% Revenue Growth In Q1 FY26; Cuts Bank Debt By 52%

PC Jeweller Ltd caught the market's attention on Friday, July 4, 2025, following the release of impressive business updates for the quarter ending June 2025. The jewellery maker registered close to 80 percent growth in standalone revenue relative to the previous year's quarter, fueled by consumer spending during the festive and wedding season.

"Notwithstanding the sharp fluctuations in gold prices, the company reported standalone revenue growth of nearly 80% vis-a-vis the corresponding quarter last fiscal year. This was largely due to the sustained and robust demand and festive purchases by customers," PC Jeweller said in an exchange filing.

In line with the company's strong revenue results, PC Jeweller continued to execute its strategy focused on debt contraction. During the quarter, the company reduced outstanding debts to bankers by an additional 7.5 percent. This is on the heels of a more than 50 percent reduction in bank debt during FY25. The management reiterated its targets to eliminate outstanding payments to bankers by the end of FY26.

The company reduced its debt from Rs 4,150 crore to Rs 2,151 crore, a 52% reduction, as of March 2024.

The company's strategic moves towards operational growth and financial restructuring have enhanced its stock. In five years, PC Jeweller's stock returned over 738 percent, and gained over 173 percent in just one year. Year to date, the stock is down 13.63 percent, but it has recovered 13.45 percent over the last five trading days.

PC Jeweller Limited has also announced the allotment of 97,84,800 equity shares of Rs 1 each on August 13, 2025, following the conversion of 9,78,480 Fully Convertible Warrants held by two non-promoter, public category allottees-Hawk Capital Pvt Ltd and Vivek Garg.

Following the receipt of Rs 4.12 crore, or 75% of the issuance price per warrant at Rs 42.15, which was modified to take into account the company's previous share split from Rs 10 to Rs 1 face value with effect from December 16, 2024, this conversion takes place. The company's paid-up equity share capital grew from Rs 692.21 crore to Rs 693.19 crore as a result of this allocation, and the public shareholding climbed slightly from 60.62% to 60.68%.

Recently, the company finalized an important equity issuance which is part of its capital restructuring strategy. On May 29, 2025, the Board of Directors sanctioned the issuance of 3,084,240 equity shares of face value Re 1 each to one of the promoter group members. This was subsequent to the conversion of 30,84,240 warrants which were issued earlier at a price of Rs 42.15 per warrant in compliance with SEBI stipulations. This was in line with the capital restructuring plan where the company also undertook a sub-division of shares from Rs 10 to Re 1 each effective December 16, 2024.

PC Jeweller's paid-up equity share capital further increased to Rs 657.53 crore from Rs 654.45 crore which enhanced the company's capital base.

PC Jeweller Ltd is one of the first companies based in India to engage in the designing, manufacturing and retailing of gold, platinum, diamond, and silver jewelry. It operates several brands such as Azva, Swarn Dharohar, and LoveGold. Moreover, it has produced commemorative medallions for significant sporting events, including the Cricket World Cup.