PC Jeweller Shares Soar 15% as FY26 Profit Jumps, Debt Slashes Over 90%

New Delhi [India], May 29: Shares of PC Jeweller surged nearly 15 per cent on Friday, hitting an intra-day high of Rs 10.40 compared to the previous close of Rs 9.20, after the company reported strong financial performance for FY26 along with significant debt reduction and aggressive expansion plans.

The jewellery retailer’s market capitalisation stood at around Rs 9,720 crore. The stock has touched a 52-week high of Rs 18.74 and a 52-week low of Rs 7.52.

PC Jeweller reported standalone revenue of Rs 3,353 crore for FY26, registering a robust 49 per cent year-on-year growth from Rs 2,243 crore in FY25. EBITDA rose 67 per cent to Rs 861 crore from Rs 517 crore in the previous financial year, while EBITDA margin improved to 25.7 per cent from 23 per cent.

Profit before tax increased 58 per cent to Rs 708 crore compared with Rs 448 crore in FY25. Profit after tax stood at Rs 710 crore against Rs 575 crore in the previous year, marking a 23 per cent rise. Gross profit climbed 59 per cent to Rs 751 crore from Rs 472 crore, while gross margin expanded to 22.4 per cent from 21 per cent.

The company said operating profit after tax, excluding income tax refund and related interest classified as exceptional items, surged 80 per cent to Rs 705 crore from Rs 392 crore in the previous year.

For the March quarter, standalone revenue increased 33 per cent to Rs 927 crore from Rs 699 crore in the corresponding quarter of the previous year. Quarterly EBITDA rose 25 per cent to Rs 180 crore, while profit before tax jumped 59 per cent to Rs 151 crore from Rs 95 crore in Q4FY25.

Quarterly profit after tax came in at Rs 150 crore, registering a sharp 58 per cent increase from Rs 95 crore in the year-ago period.

PC Jeweller also highlighted a sharp improvement in its balance sheet. The company stated that it has reduced its outstanding debt by more than 90 per cent since executing its Settlement Agreement with banks on September 30, 2024.

Short-term borrowings declined to Rs 1,072 crore at the end of FY26 from Rs 2,064 crore a year earlier.

The company further strengthened its capital position through a preferential issue of fully convertible warrants amounting to Rs 2,702.11 crore. The process was completed on April 10, 2026, with around 93 per cent of total allotted warrants realised. PC Jeweller said it continues to move towards becoming debt-free.

On the expansion front, the company said it plans to open up to 100 large-format franchisee showrooms over the next 12 to 18 months, driven by strong interest from franchise partners.

In a major rural expansion initiative, the company signed a Memorandum of Understanding with the Government of Uttar Pradesh under the Chief Minister – Yuva Udyami Vikas Abhiyan to establish up to 1,000 retail franchisee units across rural and semi-urban regions of the state.

Separately, PC Jeweller entered into an MoU with the National Skill Development Corporation to onboard up to 2 lakh micro-entrepreneurs over the next five years under its brand network.

In another development, PCJ Mining SARL, the company’s step-down subsidiary incorporated in the Republic of Chad, received a licence in April 2026 for semi-mechanized artisanal gold mining. The company expects production activities to commence during the current financial year.

Institutional interest in the company also improved during the period. Foreign institutional investor holding increased to 10.40 per cent from 6.31 per cent, while domestic institutional investor holding stood at 5.42 per cent.

PC Jeweller Ltd is engaged in the manufacturing and retailing of gold, diamond and other jewellery products through its showroom and franchise network across India. The company continues to focus on franchise-led expansion and value-added retail initiatives to strengthen its market presence.

Disclaimer: This article is for informational purposes only and does not constitute financial advice.