PC Jeweller Limited has informed the Exchange regarding 'Supplement to Results Highlights'.
PCJEWELLER · price
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Awaiting price reaction for this filing.
PC Jeweller reported Q1 FY26 revenue of Rs 725 crore (up from Rs 401 crore in Q1 FY25) and PAT of Rs 164 crore. The company clarified that Q1 FY25 PAT of Rs 155 crore included a one-time Rs 106 crore income tax refund, so the comparable operating PAT was only Rs 49 crore — meaning the real operating PAT has more than tripled year-on-year. Finance cost rose sharply to Rs 41.6 crore in Q1 FY26 (from just Rs 1.8 crore earlier) as the interest moratorium ended. The CFO outlined a clear debt reduction roadmap: remaining bank debt of Rs 1,440 crore is targeted to be fully paid off by end of FY26, supported by Rs 155 crore repaid in Q1, Rs 180 crore in July 2025, and a fresh Rs 500 crore preferential allotment approved by the Board on July 10, 2025.
Strong operating profit growth and a credible path to becoming debt-free by FY26-end should be positive for shareholders, though rising finance costs will keep eating into margins until the bank borrowings are fully cleared. The Rs 500 crore equity raise may cause near-term dilution concerns but improves the balance sheet.