New Delhi-based PC Jeweller Ltd has reported a strong performance in the second quarter of FY2025-26, driven by robust festive demand for gold jewellery and significant progress on its debt reduction strategy.
Q2 Financial Highlights
- Revenue: Rose 63% YoY to ₹808 crore in July–September 2025, up from ₹496 crore in the same quarter last year.
- Debt Reduction: Outstanding bank debt was cut by 23% during the quarter. This follows a 9% reduction in Q1 and more than 50% in FY2024-25, aligning with the company’s goal of becoming debt-free by FY2025-26.
- Showroom Expansion: Opened a new franchise-owned outlet in Pitampura, Delhi, strengthening its retail footprint of 52 stores (49 company-owned, 3 franchise).
Strategic Initiatives
PC Jeweller is pursuing balanced growth through a mix of company-owned and franchise outlets. The board has approved plans to raise ₹500 crore from promoters and Capital Ventures Pvt Ltd, along with ₹1,300 crore via warrant conversion, providing the company with ₹1,800 crore in fresh funds to retire all outstanding debt.
Management Outlook
The company expressed confidence in sustaining momentum:
“Looking ahead, the company is confident about building on its strong performance in the upcoming quarters and is focused on reclaiming its leading market position, which it has held in the past,” PC Jeweller said in a filing.
Recent Performance Snapshot
- Q1 FY2025-26: Total income jumped to ₹807.88 crore vs. ₹439.78 crore YoY; net profit stood at ₹161.93 crore (up 4% YoY due to a high base effect).
- FY2024-25: Net profit of ₹577.70 crore on revenue of ₹2,371.87 crore.
With improving financials, reduced leverage, and steady expansion, PC Jeweller is positioning itself for a debt-free and growth-oriented future.
Summary
PC Jeweller posted a strong Q2 FY2025-26 performance, with revenue up 63% YoY to ₹808 crore and debt reduced by 23% during the quarter. The company continues its push to become debt-free by FY2025-26, supported by ₹1,800 crore of planned fund infusion from promoters and investors. With festive demand, retail expansion, and a healthier balance sheet, PC Jeweller aims to reclaim its leading market position in the jewellery sector.
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