PC Jeweller reported robust Q3 FY26 results, fueled by strong consumer demand during the festive and wedding season. Revenue increased by 37% YoY to ₹875 crores. The company continues to reduce debt, decreasing outstanding debt by approximately 68% since September 2024. The company has also entered an MoU with the Government of Uttar Pradesh to establish 1,000 retail franchise units.
Financial Performance Highlights
PC Jeweller showcased a resilient operational performance in Q3 FY26, driven by heightened consumer demand during the festive and wedding season. Key highlights include:
- Standalone Domestic revenues grew by approximately 37% YoY, reaching ₹875 crores.
- Gross Profit saw a substantial increase of 63%.
- EBITDA increased by 46%, reaching ₹225 crores.
- PBT increased by 29% to ₹189 crores.
Nine-Month Performance
The company also reported significant growth for the nine months ended December 31, 2025:
- Sales increased by 57% to ₹2,426 crores.
- Gross Profit increased by 84%.
- EBITDA increased by 83% to ₹681 crores.
- PBT increased by 58% to ₹557 crores.
Debt Reduction and Financial Position
The company is actively reducing its debt, achieving a decrease of approximately 68% in outstanding debt since the settlement agreement with banks on September 30, 2024. This demonstrates a significant improvement in its financial position.
Strategic Initiatives
PC Jeweller signed an MoU with the Government of Uttar Pradesh under the Chief Minister Yuva Udyami Vikas Abhiyan (CM-YUVA) to support trained goldsmith entrepreneurs in rural and semi-urban areas. The goal is to establish 1,000 jewellery retail franchise units.
Operational Developments
The keys and inventory of showrooms/premises previously in the custody of DRAT (Debts Recovery Appellate Tribunal) have been handed back to the company following compliance with the Joint Settlement Agreement. PC Jeweller now possesses all its inventory.
Fund Raising
The company had already raised ₹2,702.11 crores and another ₹500 crores in private placement. Out of this, the company has already received approx ₹1,906 crores and the remaining amount of approx ₹1,296 crores shall be realized upon conversion of remaining preferential warrants into equity. This amount covers the bank debt well.
Outlook
The company anticipates realizing the remaining amount by March 2026, reiterating its progress towards becoming debt-free and plans to open up to 100 large franchise showrooms during the next 12-18 months.
Source: BSE
