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PC Jeweller shares returned to the green on Wednesday after the jewellery retailer announced that it had cleared its outstanding debt with another consortium bank. The latest repayment takes the company one step closer to its stated goal of becoming debt-free by the end of the current month. PC Jeweller shares climbed 4% to ₹14.07 apiece during Wednesday morning trading. The recovery followed Tuesday's profit booking, which had brought an end to the stock's three-day winning streak. Despite that one-day reversal, the shares remain up more than 36% over the past week. The development comes as PC Jeweller has now settled all outstanding dues with 10 of the 14 consortium banks. The progress on debt repayment has emerged as a key trigger for investor interest in the stock, which has delivered strong gains over the past week. PC Jeweller shares opened Wednesday's session at ₹13.53 before advancing as much as 4% to reach a day's high of ₹14.07. The jewellery stock has maintained strong momentum over the medium term. PC Jeweller shares have surged 42% over the past three months, while the gain over the last six months stands at 58%. The one-year performance, however, remains negative, with the stock down 4% during the period. The longer-term picture is considerably stronger. PC Jeweller has delivered multibagger returns of 439%, highlighting the significant appreciation in the stock over the longer term. The company's progress towards eliminating its debt has become one of the major factors behind the recent buying interest in PC Jeweller shares. In its latest exchange filing released on Tuesday, the company said it had successfully repaid all outstanding debt to another bank, taking the total number of consortium banks whose dues have been cleared to 10 out of 14. PC Jeweller said all repayments have been completed ahead of their scheduled due dates. "In line with its objective of achieving a debt-free status in the current month itself, the Company has successfully cleared and repaid all its outstanding debt under the terms of Settlement Agreement dated 30 September 2024 with respect to 1 more bank. With this successful clearance of debt, the Company has now repaid all the outstanding debt of 10 out of the 14 consortium banks with all repayments completed ahead of scheduled due dates," it said in an exchange filing. The company has also made substantial progress with the remaining lenders. PC Jeweller said it has discharged more than 96% of the outstanding debt of the remaining 4 banks. It added that it remains firmly on track to repay the remaining less than 4% of the outstanding debt owed to these four banks and achieve debt-free status in the current month itself. According to the company, this would materially strengthen its balance sheet and financial position. The debt resolution stems from a settlement agreement signed in September 2024 between PC Jeweller and a 14-bank consortium led by State Bank of India (SBI). The one-time settlement was aimed at resolving a stressed loan book that stood at nearly ₹4,100 crore as of March 2024. The consortium also included Union Bank, Punjab National Bank (PNB), Axis Bank, IndusInd Bank, Bank of India, IDBI Bank, Karur Vysya Bank, Kotak Mahindra Bank, Indian Overseas Bank, Canara Bank, Indian Bank, Bank of Baroda and IDFC First Bank. The company's recent financial performance has provided another positive factor for investors. PC Jeweller reported a consolidated net profit of ₹222 crore in Q1 FY27 in August, representing a 37% year-on-year (YoY) increase from ₹153 crore in the corresponding period of the previous year. Revenue from operations also recorded healthy growth. It increased 21% YoY to ₹877 crore in the April-June quarter of the ongoing financial year, compared with ₹725 crore in the year-ago period. Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions. Pranati Deva is a seasoned financial journalist with over a decade of experience in high-pressure newsroom environments, currently working as a Senior Sub Editor at LiveMint. Over the years, she has developed a reputation for sharp editorial judgement, a strong grasp of market dynamics, and the ability to translate complex financial developments into clear, engaging stories for a wide audience. <br><br> Her core areas of coverage include stock markets, leading listed companies, currencies, and commodities, with a particular strength in fast-paced, real-time market reporting. She is known for handling breaking market news, earnings-driven stock movements, and macroeconomic developments with speed, accuracy, and context—qualities that are essential in financial journalism. <br><br> Pranati has built a diverse and credible professional track record across some of India’s most respected news organisations, including MintGenie, CNBC-TV18, Business Standard and EconomicTimes.com. During her stints at these platforms, she produced data-driven market stories, curated and steered live blogs during volatile trading sessions, and conducted interviews with market veterans, fund managers, economists, and industry experts. Her work often combines on-ground reporting with analytical depth, helping readers make sense of daily market fluctuations and longer-term trends. An alumnus of the Symbiosis Institute of Media and Communications and Hansraj College, University of Delhi, Pranati brings a strong academic foundation to her journalism. She specialises in real-time financial reporting, with a keen focus on precision, balance, and insight, aiming to decode market movements in a way that is both informative and accessible to readers across experience levels. Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
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