PC Jeweller Reports Strong Financial Performance with 63% Sales Growth in Q2 FY2026

PC Jeweller reported a robust financial performance for Q2 and H1 of FY2026, showing significant growth compared to the previous year. In the second quarter, sales increased by 63% to Rs 825 crore from Rs 505 crore. Gross profit rose by 89% to Rs 191 crore, while profit before tax climbed 65% to Rs 204 crore. EBITDA nearly doubled, growing by 91% to Rs 246 crore.

The company recorded a net profit of Rs 208 crore in Q2 FY2026, marking a 16.2% increase from Rs 179 crore in Q2 FY2025. The first half of FY2026 saw sales jump by 71% to Rs 1,550 crore, with gross profit doubling by 102% to Rs 335 crore. Profit before tax rose by 78% to Rs 368 crore, and EBITDA grew by 109% to Rs 456 crore.

PC Jeweller has been actively reducing its debt, cutting it by approximately 23%, or Rs 406 crore, during the quarter ending September 30, 2025. This follows a previous reduction of around Rs 155 crore in the first quarter of FY2025-2026 and a more than 50% decrease of about Rs 2,005 crore in the prior fiscal year.

The company aims to be debt-free by the end of FY2025-2026. "The Company has been servicing its financial obligations timely and with the repayment of its outstanding debt, the Finance Cost will also reduce in the coming quarters. Once the company achieves its target of becoming debt free by the end of FY 2025-26, it will not incur any further finance cost related to borrowings," stated PC Jeweller in a stock exchange filing.

In addition to financial improvements, PC Jeweller expanded its retail presence by opening a franchise-owned showroom in Pitampura, Delhi. This move aligns with their strategy to grow through a mix of owned and franchise outlets. The company also raised Rs 2,702.11 crores through fully convertible warrants in the previous fiscal year.

During a board meeting on July 10, 2025, an additional capital raise of up to approximately Rs 500 crores was approved via Preferential Allotment on a private placement basis. By Q2 FY2025-2026, about Rs 1,877 crores had been collected from these fundraising efforts, with the remaining Rs 1,325 crores expected upon conversion of remaining warrants into equity.

Future Outlook and Strategic Goals

Looking ahead, PC Jeweller anticipates increased operational momentum and market engagement after achieving debt-free status. The company is exploring opportunities to expand its retail footprint further and expects continued strong performance in future fiscal years.

"Further, the company has earned a substantial PAT of Rs 208 crores in Q2 FY2026 after servicing the finance cost of approx. Rs 36.3 crores incurred in this quarter," added PC Jeweller in their filing.