PC Jeweller debt-free; Q2 sales up 28%, profit unreported

PC Jeweller said on 7 October that its bank borrowings are cleared and that 14 consortium banks have released the securities and guarantees they held. The provisional Q2 FY27 business update showed revenue growth of about 28 percent YoY. The company has not yet announced full Q2 results, so no Q2 profit figure is out. The debt news is the first point I can now confirm in full. My 1 October post said the company had cleared 96 percent of its debt. The No Objection letter from the 14 banks confirms all of it, and the original title deeds were returned to their holders. What is still missing: Q2 FY27 revenue in rupees: not given, only growth of about 28 percent Q2 FY27 profit and margin: not given Full results date: not announced PC Jeweller [][***** trades at Rs 15.41 at 10:06 AM IST today on StockGro, up 8.9 percent from Rs 14.15. The stock touched Rs 15.50 on 12 October, close to the Rs 15.58 top of its 52-week range, which starts at Rs 7.11. It fell about 5 percent on 13 October and has since recovered. At 16.2 times trailing earnings, against a sector P/E of 49, the stock is no longer cheap against its sector. My view: hold for holders, not a fresh entry. The stock is above the Rs 14.50 resistance from my 1 October post, but a debt-free notice is not a profit result. Fresh entry stays below Rs 12, as in my 1 October post. Fresh money also needs the Q2 result to show profit, not only sales growth. Without both, no fresh money. My exit is a close below Rs 11.81, the support from my 1 October post. Disclosure: Vijay Kumar Gupta, SEBI Registered Research Analyst, INH000020226, Vijay Gupta Advisory. SEBI registration and NISM certification do not guarantee performance or assure returns. Securities markets are subject to market risks. No holdings in the subject company