PC Jeweller Ltd(PCJEWELLER)

NSE: PCJEWELLERBSE: 534809

₹ 18.07-0.06%refreshed 23 Oct, 03:58 pm ISTMarket cap: ₹ 17,723 crWebsite: www.pcjeweller.comUpdated: 24 Oct 2026

About

PC Jeweller Limited is an Indian jewellery retailer that sells gold and studded jewellery only in India, through its own and franchise showrooms. It reported standalone revenues of Rs 3,353 crore in FY26, up 49% year on year. As of Q2 FY27, it has 2.05 lakh sq ft of retail space across 13 states and union territories, and it now has no bank borrowings.^[1][2]

Business segments

PC Jeweller reports one segment, jewellery, and sells only in India. It stopped its export business in September 2021, and all revenue in FY25 and FY26 came from domestic sales.^[3]
In FY22, domestic sales made up 87.7% of revenue and exports 12.3%. Exports posted a negative EBIT margin of 74.3% that year.^[4]

Retail network

As of Q2 FY27, total retail area was 2.05 lakh sq ft across 13 states and union territories.^[2]
As of 30 June 2025 (Q1 FY26), there were 51 showrooms in 37 cities, 3 of them franchise stores. The Jamshedpur showroom closed in Q1 FY26.^[5]
As of Q1 FY26, the franchise showrooms were in Katihar, Haldwani and Jhansi. Another franchise-owned showroom opened in Pitampura, Delhi in Q2 FY26.^[5]

Raw material and sourcing

In FY25, about 59% of raw material needs by value came from recycling customers' old jewellery through the buyback programme.^[3]
PCJ Mining SARL, a step-down subsidiary set up in Chad in Q4 FY26, received a licence for semi-mechanised artisanal gold mining in April 2026.^[1]
PCJ Mining SARL started on-site development work in Chad in Q2 FY27. Gold production there is expected to begin in FY27.^[2]

Distribution and customers

As of Q1 FY26, the company sold only in India and had no export or foreign exposure, including to the USA.^[5]
Net export receivables of Rs 1,512.03 crore were still outstanding at the end of FY25, and legal recovery had begun.^[3]
In Q2 FY27, the company received about Rs 142 crore from export debtors after resolving the issues with them.^[2]

Expansion plans

The company plans up to 100 new showrooms, both own and franchise, over the next 12-18 months. The first are due to open within FY27.^[2]
It plans to launch a Gen-Z brand for demi-fine, lightweight and lab-grown diamond jewellery, with the business starting in FY27.^[2]
It signed an MoU with the Government of Uttar Pradesh under CM-YUVA to set up 1,000 jewellery retail franchise units in rural and semi-urban parts of the state.^[1]
It signed an MoU with NSDC to bring on up to 2,00,000 micro-entrepreneurs across India over five years under the PC Jeweller brand.^[1]
The CM-YUVA and NSDC franchisees will trade as PCJ Lifestyle and are aimed at Tier 4 and smaller markets.^[2]
India's jewellery retail market is projected to reach about USD 145 billion by FY2028, up from about USD 70 billion in FY2023. Organised retail held about 37% of the market in FY2023.^[3]

Debt and capital

In Q2 FY27, the company repaid all debt owed to its 14 consortium banks, ahead of the dates in the 30 September 2024 settlement agreement. All charges and guarantees were released, and it now has no bank borrowings.^[2]
A preferential issue of equity shares and warrants worth up to Rs 500 crore was completed on 24 September 2026, when the promoter converted all of his warrants.^[2]

Recent developments

Soumil Garg became Additional and Whole-time Director from 1 October 2026. On the same date, Ramesh Kumar Sharma resigned as a Director and Vivek Jain as Whole-time Director.^[6]
The 21st AGM was held on 30 September 2026. Its agenda covered adopting the FY26 financial statements and re-appointing Vishan Deo, ED Finance and CFO, by rotation.^[7]
On 7 October 2025, DRAT handed back the keys and inventory for all showrooms and premises. No inventory is left in the custody of DRAT or any other authority.^[8]

Market Cap

₹17,723 Cr

High / Low

₹20 / 7

Stock P/E

19.7

Price / Book

2.0

Book Value

₹9

EPS

₹0.8

No. of Shares

864.86 Cr

ROCE

9.6%

ROE

10.0%

OPM

23.9%

Debt / Equity

0.13

Sales

₹3,353 Cr

Net Profit

₹714 Cr

Promoter holding

39.1%

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PC Jeweller Ltd(PCJEWELLER)

About

Business segments

Retail network

Raw material and sourcing

Distribution and customers

Expansion plans

Debt and capital

Recent developments

Signal history

The analysis Screener can't give you

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Verdict

Company data

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