PC Jeweller shares in focus as Q1 revenue rises 21%, company nears debt-free milestone

PC Jeweller also announced that it has reduced its outstanding bank debt by another approximately 24 percent during the June quarter, taking the cumulative debt reduction to more than 90 percent since signing the Joint Settlement Agreement with lenders on September 30, 2024.

The company expects to achieve a debt-free status during the current quarter, a milestone that it believes will substantially strengthen its financial position and improve its balance sheet in the coming periods.

Management said the operational momentum reflects continued progress in its turnaround journey, with the company focusing on strengthening its business fundamentals while steadily reducing financial liabilities.

The jewellery retailer stated that the remaining outstanding debt under the settlement agreement will be repaid during the ongoing quarter, paving the way for complete elimination of bank debt.

A debt-free balance sheet is expected to enhance the company’s financial flexibility, reduce interest costs, and support future business expansion initiatives.

The company clarified that the revenue and debt figures disclosed in the business update are provisional and remain subject to a limited review by its statutory auditors.

PC Jeweller is one of India’s established jewellery retailers and is recognised among the leading brands in the studded jewellery segment. Investors will closely watch the company’s upcoming financial results for further details on earnings, margins and cash flows following the strong operational update.

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