PC Jeweller is currently seeing strong positive momentum

PC Jeweller is currently seeing strong positive momentum, mainly because of its rapid progress toward becoming debt-free. The company has now completely 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 clear the remaining less than 4% and achieve debt-free status during September 2026, which could materially strengthen the balance sheet and reduce interest burden. The company is also showing strong operational improvement: Q1 FY27 revenue increased 21% YoY to ₹877 crore, operating profit rose nearly 90% to ₹241.6 crore and net profit increased 37% to ₹221.9 crore. This combination of deleveraging + improving profitability has become a major trigger for the stock, which surged to around ₹13.66 intraday on September 7, gaining roughly 34% in three sessions. PC Jeweller has also been pursuing expansion through large-format franchise showrooms, while the company has previously approved plans to raise up to ₹1,000 crore through QIP, which could support future expansion but also create dilution risk. The key positive trigger now is the formal confirmation of complete debt repayment, while investors should monitor whether revenue growth and margins remain sustainable after the turnaround