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Jewellery retailer PC Jeweller Ltd has reported a sharp 63% year-on-year rise in standalone revenue to approximately ₹808 crore for the second quarter of FY26, driven by strong festive demand and strategic retail expansion. The Delhi-based company shared the update in a regulatory filing on Thursday.
The company attributed the revenue growth to buoyant consumer demand for gold jewellery during the festive season. With a total of 52 showrooms—of which 49 are company-owned—PC Jeweller continues to benefit from its widespread retail presence and growing brand visibility.
Debt Reduction on Fast Track
One of the key highlights of the quarter was PC Jeweller’s ongoing effort to reduce debt. The company reported a 23% reduction in its outstanding bank debt during Q2, following a 9% cut in Q1 FY26 and a 50% reduction throughout FY25. This is part of its strategic plan to become debt-free by the end of FY26.
At the close of FY25, PC Jeweller’s net debt stood at ₹1,780 crore. To aid in its debt reduction target, the company’s board in July approved a proposal to raise ₹500 crore in equity from promoters and Capital Ventures Pvt Ltd. Additionally, it expects to receive ₹1,300 crore from the conversion of warrants into equity shares. These combined funds—totalling ₹1,800 crore—are earmarked for clearing all outstanding bank dues under the company’s settlement plan with its lenders.
Retail Network Expansion
The company also expanded its retail footprint during the quarter by launching a new franchise-owned showroom in Pitampura, Delhi. PC Jeweller continues to pursue a balanced growth strategy, combining both company-owned and franchise-operated stores to strengthen its presence across regions.
In its filing, the company expressed confidence about the road ahead:
"We are confident about building on this strong performance in the upcoming quarters and are focused on reclaiming our leadership position in the Indian jewellery market," the statement said.
Strong Foundation from Q1 Performance
PC Jeweller’s robust Q2 builds on a solid Q1 FY26, in which it reported total income of ₹807.88 crore, up 83.7% YoY, net profit of ₹161.93 crore, up 4%, profit before tax at ₹163.58 crore, nearly doubling YoY and EBITDA growth of 136%, rising from ₹89 crore to ₹210 crore.
However, net profit growth was muted due to a high base last year, when the company received ₹71.39 crore in tax refunds during Q1 FY25.
