Shares of PC Jeweller Ltd jumped over 7 per cent after it cleared and repaid its outstanding debt with one more bank under its settlement agreement dated September 30, 2024. With the latest repayment, the firm has fully settled its obligations with 12 out of 14 consortium banks ahead of their scheduled due dates, discharging over 98 per cent of its total bank debt liabilities. Meanwhile, the company announced that its board of directors has approved the allotment of 74,07,500 equity shares to the promoter upon the conversion of an equivalent number of fully convertible warrants.
“The company has now repaid all the outstanding debt of 12 out of the 14 consortium banks, with all repayments completed ahead of scheduled due dates. Further, with this repayment, the company has now discharged more than 98% of the outstanding debt of the banks,” the company said in an exchange filing.
PC Jeweller share price
The stock opened in the red at Rs 12.74 against the previous close of Rs 12.79 on the BSE. However, the stock picked momentum and touched the intraday high of Rs 13.70, representing a gain of Rs 0.91 or 7.11 per cent from the previous close. Last seen, the stock was trading at Rs 13.58 with a gain of Rs 0.79 or 6.09 per cent and the market cap of the company stood at Rs 13,218.65 crore.
Capital infusion via warrant conversion
The promoter has converted 74.08 lakh warrants into equity shares at Rs 18 each, infusing Rs 10.00 crore of capital into the company. A total of 4.82 crore promoter warrants remain pending conversion.
Q1 profit rises 37 per cent
The company reported a 37 per cent increase in its consolidated net profit to Rs 221.88 crore for the quarter ended June on better revenue and said the company will become debt-free in the current quarter.
Its net profit stood at Rs 161.93 crore in the year-ago period. Total income rose to Rs 879.27 crore in the first quarter of this fiscal year from Rs 807.88 crore in the corresponding period of the preceding year, according to a regulatory filing.
Delhi-based PC Jeweller, which has around 50 physical stores across 12 states, raised Rs 2,702.11 crore via a preferential issue of fully convertible warrants during the quarter ended June 2026.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
