PC Jeweller has successfully reduced its outstanding debt payable to banks under the Joint Settlement Agreement by approximately 17%. The company has now repaid the majority of its outstanding debt that was due to the banks under the terms of the Joint Settlement Agreement, demonstrating significant progress towards its financial goals. This was achieved through a combination of balance consideration received on conversion of 5,12,46,860 Fully Convertible Preferential Warrants.
Debt Reduction Milestone
PC Jeweller announced on January 31, 2026, that it has made substantial progress in its debt reduction efforts. In line with the company’s objective of achieving a debt-free status, it has successfully reduced its outstanding debt payable to banks under the Joint Settlement Agreement.
Key Highlights of Debt Reduction
The company has reduced its debt by approximately 17%. This reduction was made possible through a combination of balance consideration received on the account of conversion of 5,12,46,860 Fully Convertible Preferential Warrants into equity shares by Promoter Group entities and from the Company’s internal accruals.
Future Outlook
PC Jeweller has sufficiently covered its remaining outstanding debt towards its banks and expects to receive the remaining amount on conversion of remaining Warrants into equity shares. The company anticipates the realization of this amount by March 2026, thereby reaffirming its goal of becoming debt-free in FY2026.
Strategic Goal
The debt reduction aligns with the Company’s broader objective of achieving a debt-free status, reinforcing its financial stability and long-term growth potential.
Source: BSE
