PC Jeweller repays 8 of 14 consortium bank debts

PC Jeweller Limited has successfully repaid the full outstanding debt of eight out of its 14 consortium banks. According to company filings, all eight repayments were completed ahead of the scheduled deadlines established in a September 2024 settlement agreement.

Regarding the remaining six banks, the retailer has already cleared more than 96% of the outstanding dues, leaving less than 4% of the debt pending. Management stated the company remains on track to become entirely debt-free within the current quarter.

The company’s financial recovery is supported by recent growth; consolidated net profit for the June quarter rose 37.2% year-on-year to Rs 222 crore, while revenue increased 21% to Rs 877 crore. Additionally, PC Jeweller has been raising capital, having completed a Rs 2,702.11 crore preferential warrant issue and planning to raise up to Rs 1,000 crore through a Qualified Institutional Placement to fund future growth.