PC Jeweller Limited has reported further progress on its balance sheet strengthening efforts, announcing an additional reduction in bank-related debt under its Joint Settlement Agreement with consortium lenders.
The update was shared with stock exchanges on January 31, 2026.
The company stated that it has lowered its outstanding debt payable to banks by approximately 17% under the terms of the Joint Settlement Agreement.
With this step, PC Jeweller has repaid a substantial portion of the liabilities originally due to lenders, marking continued progress towards its stated objective of achieving a debt-free status.
According to the disclosure, the latest debt reduction was funded through a mix of internal accruals and proceeds received from the conversion of 51,246,860 fully convertible preferential warrants into equity shares by promoter group entities.
The company indicated that this combination has supported ongoing deleveraging without additional borrowing.
PC Jeweller noted that the remaining outstanding bank debt is adequately covered by amounts expected to be realised from the conversion of the balance warrants into equity shares.
The company expects these funds to be received by March 2026, reinforcing its expectation of becoming debt-free during FY26.
PC Jeweller shares were trading at ₹10.11, down 1.56% at 11:00 AM on the NSE from the previous close of ₹10.27. The stock opened at ₹10.25 and moved within a range of ₹10.10–₹10.36 during the session, with a VWAP of ₹10.20.
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PC Jeweller’s latest disclosure highlights continued deleveraging under its settlement arrangement with banks, supported by promoter warrant conversions and internal cash generation. While execution of the remaining warrant conversions will be key, the company maintains that it is on track to meet its stated target of becoming debt-free in FY26.
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Published on: Feb 2, 2026, 11:13 AM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
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