Author: Nishtha Mehrotra | EQMint
Synopsis:
- PC Jeweller reported a 58% year-on-year rise in consolidated net profit to ₹330.66 crore in Q2 FY27.
- The company repaid all 14 consortium banks ahead of schedule, while finance costs fell 76% to ₹8.73 crore.
- Investor Aditya Kumar Halwasiya purchased another 5.51 crore shares at ₹18.39 apiece, worth approximately ₹101 crore.
PC Jeweller Q2 FY27 results showed strong year-on-year growth, with revenue rising 28% to ₹1,054.47 crore and net profit increasing to ₹330.66 crore for the quarter ended September 2026. The jewellery retailer also announced the repayment of its dues to all 14 consortium banks, marking a significant milestone in its debt-restructuring process.
Revenue and Profit Rise
PC Jeweller’s profit before tax increased 60% to ₹330.61 crore, compared with ₹206.08 crore in the year-ago quarter. Finance costs declined 76% to ₹8.73 crore from ₹36.28 crore.
For the first half of FY27, revenue reached ₹1,931.51 crore, up around 25%, while net profit rose 49% to ₹552.54 crore.
The company separately reported a 107% increase in net operating profit after tax, excluding other income, to ₹299 crore. This is different from the 58% growth in reported net profit.
PC Jeweller Clears Consortium Bank Dues
The company said it repaid all dues to its 14 consortium banks on September 25, 2026, ahead of the schedule under its settlement agreement. The banks subsequently issued no-dues certificates and released mortgaged assets, title deeds and associated guarantees.
However, the September balance sheet still reports ₹226 crore in current borrowings. The company has described itself as having cleared its consortium bank debt, so the broader claim that it is entirely debt-free requires clarification.
Aditya Kumar Halwasiya Buys More Shares
Investor Aditya Kumar Halwasiya reportedly purchased 5.51 crore PC Jeweller shares at ₹18.39 each, amounting to approximately ₹101 crore.
The transaction follows his October 15 purchase of 5.10 crore shares at ₹14.43 apiece, worth around ₹73.59 crore. Together, the two purchases amount to approximately ₹175 crore.
The latest transaction’s date should be verified against the NSE bulk-deal records before publication. The purchases alone do not establish any strategic arrangement between Halwasiya and PC Jeweller.
Export Receivables Remain a Key Concern
PC Jeweller recovered approximately ₹142 crore in long-pending export receivables during the quarter. However, total current and non-current trade receivables remain around ₹1,641 crore.
The company’s auditors issued an unmodified review conclusion but highlighted receivables and expected credit-loss estimates under an Emphasis of Matter section. Inventory also increased to ₹7,664 crore from ₹7,214 crore in March 2026.
These figures make further receivable collections and cash-flow performance important indicators to monitor.
Expansion Plans
PC Jeweller plans to open up to 100 large-format showrooms across Tier I, II and III cities over the next 12–18 months. It also announced franchise-related initiatives with the National Skill Development Corporation and the Uttar Pradesh government, alongside a new jewellery brand targeting Gen-Z consumers.
The company additionally reported development activity linked to its gold mining licence in Chad.
Source: https://www.bseindia.com/xml-data/corpfiling/AttachLive/36388a22-1acd-42d5-981a-c7d3d550c727.pdf
Disclaimer: This article is for information purposes only and is not investment advice.
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