PC Jeweller Cuts Bank Debt by Another 10%, Repayment Crosses 90% Under Lender Agreement

PC Jeweller Ltd has reduced its outstanding bank debt by about 10% under its joint settlement agreement with consortium lenders, according to a regulatory filing dated April 17.  

Following this tranche, the company has repaid more than 90% of its total bank borrowings since the settlement was executed.  

The repayment forms part of a plan to close legacy liabilities and move towards a debt-free position. 

Progress Under Settlement Framework 

The company stated that the reduction aligns with the agreed terms of the settlement with lenders.  

It added that repayments have been carried out in stages, with the latest instalment marking progress in lowering outstanding dues. 

Management indicated that the objective remains to fully discharge bank debt in the near term. The filing noted that the pace of reduction is indicative of adherence to the restructuring plan agreed earlier. 

PC Jeweller Revenue Performance 

Separately, the company reported a 32% year-on-year increase in standalone revenue for the March quarter.  

For FY26, revenue rose by around 49% compared with the previous year, supported by quarterly performance. 

During the same quarter, outstanding bank debt was reduced by nearly 23% under the settlement arrangement. A substantial portion of the dues has already been repaid, contributing to the overall decline in borrowings. 

Business Developments 

The company has also entered into a Memorandum of Understanding (MoU) with the National Skill Development Corporation (NSDC) to support the development of up to 200,000 micro-entrepreneurs over 5 years in the gems and jewellery segment. 

In addition, a subsidiary has incorporated PCJ Mining SARL in Chad to explore opportunities in precious metal mining, indicating initial steps towards backward integration. 

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PC Jeweller Share Price Performance  

As of April 17, 2026, 3:30 pm, PC Jeweller Ltd share price closed at ₹9.59, up 0.63% from the previous closing price. 

Conclusion 

With over 90% of bank debt cleared, the company remains in the final stages of its settlement plan. Additional reductions are likely in the coming period. 

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