“We have repaid bank loans worth Rs 335 crore during the April-July period of this fiscal year,” Garg told PTI, adding that the company’s net debt had fallen to Rs 1,445 crore at the end of July, down from Rs 1,780 crore at the start of FY26. The company is repaying its loans using internal accruals as well as funds raised from promoters and investors.
“We will become debt-free by the end of this fiscal year,” Garg said.
PC Jeweller had indicated in its investor presentation that it had reduced its outstanding bank debt by more than 50% in FY25 under a settlement agreement with its financial institutions. According to the company, the debt was further trimmed by 8.7% during the June quarter of FY26 and by another 10.1% in July 2025.
Rs 1,800 crore equity infusion planned
To further accelerate deleveraging, PC Jeweller’s board in July approved a proposal to raise Rs 500 crore from promoters and Capital Ventures Pvt Ltd. Additionally, the company is set to receive Rs 1,300 crore from the conversion of warrants into equity shares by promoters and investors.
The total Rs 1,800 crore infusion is intended to help the company clear its outstanding debt completely.
Improved financial performance in Q1
PC Jeweller also reported a 4% year-on-year rise in consolidated net profit to Rs 161.93 crore for the quarter ended June 2025, compared with Rs 156.06 crore in the year-ago period. Revenue surged to Rs 807.88 crore during the quarter, up from Rs 439.78 crore in the corresponding period last year, the company said in a regulatory filing.
The company, which operates 52 showrooms across major Indian cities, 49 of which are company-owned, has been focusing on consolidating operations and enhancing transparency.
Garg told PTI that the Indian jewellery market is increasingly shifting towards organised players, supported by government initiatives such as mandatory hallmarking. “The hallmarking scheme… has ensured the quality of the products for consumers,” he said.
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