PC Jeweller reported a 58% year-on-year increase in consolidated net profit to ₹331 crore for the second quarter of FY27, compared with ₹210 crore in the corresponding period last year. The Delhi-based jewellery retailer and manufacturer’s revenue rose 27.8% to ₹1,054 crore from ₹825 crore, while Earnings Before Interest, Taxes, Depreciation, and mortisation (EBITDA) increased 74.1% to ₹309 crore from ₹178 crore.
The EBITDA margin expanded to 29.3% in Q2 FY27 from 21.5% a year earlier. The company said it continued to deliver growth during the quarter, supported by sustained consumer demand.
For the first half of FY27, consolidated revenue rose 25% year-on-year to ₹1,932 crore, compared with ₹1,550 crore in H1 FY26.
PC Jeweller repays outstanding bank debt
PC Jeweller said it has fully repaid all outstanding debt to its consortium of banks and has received no-objection, no-dues and release letters from the lenders.
The company added that the repayment has resulted in the release of mortgaged assets, guarantees, securities and other undertakings provided by the company, as well as its personal and corporate guarantors. Original title deeds have also been returned to the respective title holders.
According to the company, the absence of outstanding bank debt is expected to lower future interest costs and support profitability.
During the quarter, the company received remittances of approximately ₹142 crore from outstanding export debtors. It said discussions with the debtors led to a resolution of the matter and that the recovery process has now commenced.
Plans up to 100 new showrooms
PC Jeweller plans to open up to 100 new showrooms over the next 12-18 months through a mix of company-owned and franchise-operated outlets. The company expects store openings to begin in the current financial year.
It has signed memorandums of understanding with the National Skill Development Corporation (NSDC) and the Uttar Pradesh government under the CM YUVA scheme.
These initiatives envisage onboarding up to 2,00,000 entrepreneurs or franchise partners through the NSDC programme and up to 1,000 participants through the CM YUVA scheme.
The company intends to leverage these partnerships to expand its footprint across metropolitan markets, Tier-II and Tier-III cities, as well as rural and semi-urban regions.
New jewellery brand aimed at younger consumers
PC Jeweller is also developing a new jewellery brand targeted at younger consumers and self-purchase buyers.
The proposed brand will focus on demi-fine and lightweight jewellery, along with lab-grown diamond jewellery. The company said rising disposable incomes and growing demand for affordable, design-led jewellery for everyday wear, work and gifting are creating opportunities in these segments.
The business is expected to commence operations within the current financial year.
According to the company, lightweight and lab-grown diamond jewellery generally offer higher gross margins than traditional jewellery and require lower capital investment, which could improve inventory turnover and return on capital as the business scales.
Gold mining project in Chad
PCJ Mining SARL, a step-down subsidiary of PC Jeweller, commenced on-site development and related activities during the quarter ended September 2026.
The subsidiary holds a licence for semi-mechanised artisanal gold mining issued by the Ministry of Petroleum, Mining and Oil Geology of the Republic of Chad. PC Jeweller expects mining production to begin during the current financial year.
Shares of PC Jeweller rose 2.87% to ₹18.65 on Wednesday ahead of the company’s Q2 earnings announcement.
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