PC Jeweller has shown a significant improvement in its turnaround story, with Q1 FY27 consolidated revenue from operations rising 21% YoY to ₹877 crore, operating EBITDA increasing around 90% to ₹242 crore and net profit rising 37% YoY to ₹222 crore, indicating stronger operating performance and improved profitability. The biggest positive trigger currently is debt reduction: on September 3, 2026, the company announced that it has fully repaid outstanding debt to 9 of its 14 consortium banks, while more than 96% of the outstanding debt of the remaining five banks has also been discharged; management expects to achieve a debt-free status during September 2026, which could materially strengthen the balance sheet and reduce finance-cost pressure. The company had already reduced bank debt by more than 90% since signing its Joint Settlement Agreement in September 2024. PC Jeweller has also completed a ₹2,702 crore preferential warrant issue, while its board has approved raising up to ₹1,000 crore through QIP, providing additional capital for future expansion and financial flexibility; shareholders approved the QIP proposal and related authorised-capital changes in August

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