Indian jewellery giant PC Jeweller has delivered impressive financial performance for the September quarter, reporting significant growth across all key parameters driven by robust consumer demand during the festive season.
Strong Financial Performance in Q2 FY26
The company announced its second quarter results for fiscal year 2025-26 on November 11, revealing a 17.2% year-on-year increase in consolidated net profit, which climbed to ₹209.5 crore from ₹178.8 crore in the same period last year.
Revenue performance was even more spectacular, with consolidated revenue from operations surging 63.4% to ₹825.2 crore compared to ₹505 crore in Q2 FY25. This remarkable growth was primarily fueled by sustained consumer demand throughout the ongoing festive season across India.
At the operating level, PC Jeweller demonstrated exceptional efficiency improvements. The company's EBITDA more than doubled to ₹177.5 crore from ₹86.2 crore in the corresponding quarter last year. Operating margins showed significant improvement, expanding to 21.5% from 17% previously, reflecting enhanced operational efficiency and robust sales growth.
Aggressive Debt Reduction Strategy
In a significant development for investors, PC Jeweller has made substantial progress in reducing its debt burden. During the September quarter, the company reduced its outstanding bank debt by another 23% as per the terms of its settlement agreement.
This follows a 9% reduction achieved in the first quarter of FY26 and over 50% reduction already accomplished during the previous financial year. The company has set a clear target of achieving complete debt-free status by the end of FY 2025-26.
The management emphasized the strategic importance of this debt reduction plan in its earnings filing, stating: "Once company becomes debt free, it will not incur any further finance cost. The company will be able to meet its working capital requirement from its operations itself." This move is expected to significantly improve profitability by eliminating finance costs.
Retail Expansion and Growth Outlook
Supporting its financial growth, PC Jeweller continues to expand its retail presence across the country. The company recently launched a new franchise-owned showroom in Pitampura, Delhi, as part of its strategy to enhance market reach through a combination of owned and franchise stores.
With renewed market engagement and sustainable growth driven by network expansion, the company indicated it will continue exploring opportunities to further expand its retail footprint in the coming months.
Supported by rising revenue, strong consumer demand, and improving operational metrics, PC Jeweller expects sustained growth momentum and remains optimistic about expanding its market presence across India.
