Author: Nishtha Mehrotra | EQMint
PC Jeweller Limited has moved another step closer to becoming debt-free after fully repaying its outstanding debt to its 12th consortium bank under the Settlement Agreement executed on 30 September 2024.
With the latest repayment, PC Jeweller has now cleared its dues with 12 of the 14 consortium banks, with the company stating that each repayment has been completed ahead of the scheduled due date. Overall, more than 98% of its total outstanding bank debt has now been discharged, leaving less than 2% to be repaid.
The latest development follows a series of repayment announcements during September. PC Jeweller had cleared its obligations with nine banks by 3 September, 10 banks by 8 September and 11 banks by 10 September.
The company remains on track to achieve its stated goal of becoming fully debt-free within September 2026.
The deleveraging programme follows the 2024 settlement with a consortium of 14 banks led by State Bank of India. PC Jeweller’s outstanding debt had stood at nearly ₹4,100 crore in March 2024 before the repayment programme accelerated.
The balance-sheet improvement has coincided with stronger operating performance. In Q1 FY27, consolidated revenue increased around 21% year-on-year, while net profit rose approximately 37% to ₹221.88 crore.
With only two consortium banks remaining, investors will now track the final repayments and whether the reduction in debt translates into lower financial costs and stronger cash flows.
Disclaimer: This article is for information purposes only and is not investment advice.
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