PC Jwellers Q2 results showed pomising improvement

reports 74% increase in EBITDA with margin at 29.3% versus 21.5% year-over-year. Rajratan Global sees 26% revenue growth and 17% profit rise year-over-year. Vishal Mega Mart maintains its FY27 target of double-digit same-store sales growth. Marked margin expansion (29.3% from 21.5%) indicates meaningful operating leverage and improved gross-to-operating conversion. High YoY EBITDA and PAT growth (EBITDA +74%; PAT +58%) signals recovery/acceleration in core jewellery sales and profitability. Debt-free status and recovery of export receivables (~₹142 Cr) materially improves balance-sheet risk and liquidity profile. Operating cash flow has improved sharply (from -₹633 Cr to -₹77 Cr), reducing near-term cash strain though still negative. Capital actions (large preferential raise and proposed QIP in prior updates) support expansion plans but introduce execution and dilution considerations.