PC Jeweller Q4 Profit Jumps 61%; Debt Reduction, Expansion Plans Put Stock in Spotlight

Revenue from operations during the quarter rose 32.7% year-on-year to ₹927.3 crore, compared with ₹699 crore in the year-ago period. The company said domestic revenues grew around 33% during the quarter, while profit before tax increased nearly 59% on a yearly basis.

At the operational level, EBITDA stood at ₹164 crore in Q4 FY26, up 13% from ₹145 crore in the corresponding quarter of the previous financial year. The growth was supported by operating leverage and improved cost efficiencies across operations.

However, EBITDA margin contracted to 17.6% in the March quarter from 20.7% a year ago.

The stock ended 0.88% higher at ₹9.21 on Wednesday, May 27, ahead of the Bakrid market holiday on Thursday. Despite the strong quarterly performance, the small-cap stock has remained under pressure in recent months, declining 3% over the past one month, 7% in three months and 29% over the last one year. However, over a five-year period, the stock has delivered multibagger returns of 218%.

For the full financial year FY26, PC Jeweller reported revenue of ₹3,353 crore, marking a 49% increase from ₹2,243 crore in FY25.

The company’s profit after tax for FY26 stood at ₹705 crore, compared with ₹392 crore in the previous financial year, reflecting an 80% rise after excluding income tax refund and related interest treated as exceptional items.

Commenting on the performance, Managing Director Balram Garg said FY26 marked a key phase in the company’s turnaround journey as it regained momentum and delivered broad-based growth across businesses.

“FY26 was an important year for PC Jeweller, as the Company regained its momentum and delivered a strong performance throughout the year. This broad-based growth was driven by strong execution across the business, supported by continued consumer demand throughout the year,” Garg said.

The company also highlighted significant progress in reducing its debt burden. PC Jeweller said it has reduced its outstanding debt by more than 90% since the execution of its settlement agreement with banks on September 30, 2024, strengthening its financial position considerably.

Management said the company is moving steadily towards becoming debt-free and plans to enter an aggressive expansion phase thereafter.

Garg added that PC Jeweller has been witnessing strong interest from prospective business partners for large-format franchisee showrooms, with several discussions already at advanced stages.

The company said its preferential issue of fully convertible warrants worth ₹2,702.11 crore was completed on April 10, 2026, with around 93% realisation of the total allotted warrants.

According to the company, the warrant conversion has strengthened its capital base and further supported its debt reduction efforts.

PC Jeweller also reiterated its plans to expand through an asset-light franchise model and said it aims to open up to 100 franchise outlets over the next 12–18 months without requiring additional capital investment.

Disclaimer: This article is for informational purposes only and does not constitute financial advice.