The shares of PC Jeweller soared over 6 per cent in intraday trade on Wednesday despite a massive sell-off in the domestic stock market due to renewed geopolitical situation in the Middle East and a sharp spike in crude prices. Amid all, the small cap jewellery stock started the session with a slight uptick at Rs 9.51 as compared to the last day's closing of Rs 9.41 on NSE. The shares escalated the momentum further to hit a high at Rs 10.28, up nearly 6.5 per cent from the last day's closing.
Today's rally was seen after the company announced that it had paid all outstanding debt under a settlement agreement with two of the 14 consortium banks.
"The Company is pleased to inform that, today, in line with its objective of achieving a debt-free status in the current quarter itself, the Company has successfully cleared and repaid all its outstanding debt under the terms of the Settlement Agreement dated 30 September 2024 with respect to 2 out of the 14 consortium banks," the company said in an exchange filing.
Stock market Today
The domestic equity market fell sharply in early trade on Wednesday as fresh geopolitical concerns arose after the United States attacked Iran's oil hub. The development triggered a sharp spike in crude prices. Meanwhile, Sensex, the 30-share index of BS, E tanked 537.83 points to 77,642.89 in early trade, while NSE's Nifty50 fell 163.55 points to 24,235.15.
Brent crude, the global oil benchmark, was trading 2.55 per cent higher at USD 76.05 per barrel at the time of writing.
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Revenue In Q4
In a recent regulatory filing, the company said it ended the first quarter of 2026-27 with adjusted revenue growth of about 21 per cent year-on-year.
"Debt reduced by more than 90 per cent; Debt-Free status to be achieved in the current quarter itself," it said in the business update. PC Jeweller has reduced its outstanding debt that was payable to the banks under the terms of the Joint Settlement Agreement by another 24 per cent during the June quarter.
"With this reduction, the company has now reduced its outstanding debt by more than 90 per cent as of the date, since the execution of the Settlement Agreement with banks on 30 September 2024. The repayment of remaining outstanding debt and attaining a debt-free status in the ongoing quarter itself will significantly improve the company's financial position in the coming periods," the company said.
In fiscal year 2025-26, the company's net profit increased from Rs 577.70 crore in the previous year to Rs 714.46 crore. Total income increased from Rs 2,371.87 crore to Rs 3,549.58 crore. PC Jeweller has approximately 50 stores in major cities across the nation.
Disclaimer: This story is for informational purposes only. It should not be considered as investment advice.