PC Jeweller Q2 FY27: PAT Surges 107% to ₹299 Cr, Revenue Up 28% to ₹1,054 Cr; Becomes Debt-Free
PC Jeweller reported a 28% YoY revenue increase to ₹1,054 crore for Q2 FY27. Operating PAT surged 107% to ₹299 crore, and the company became debt-free. It plans to open 100 new showrooms in 12-18 months and expand its micro-franchise network. Remittances of ₹142 crore received from export debtors.
The significant financial performance improvement, debt-free status, and strategic expansion plans are expected to have a substantial positive impact on the company's valuation and market position.
The company reported strong financial growth, achieved debt-free status, and outlined aggressive expansion plans, indicating positive future prospects.
PC Jeweller Limited announced its unaudited financial results for the quarter and half-year ended September 30, 2026, reporting a consolidated revenue growth of 28% year-on-year to ₹1,054 crore in Q2 FY27. The company also achieved a significant milestone by becoming debt-free after repaying its outstanding dues to all 14 consortium banks ahead of schedule.
The financial highlights for Q2 FY27 include a 107% increase in Operating PAT to ₹299 crore from ₹144 crore in Q2 FY26, and a 74% rise in Operating EBITDA to ₹310 crore. For the half-year ended September 30, 2026 (H1 FY27), consolidated revenues grew by 25% to ₹1,932 crore, with Operating PAT rising by 129% to ₹512 crore.
Key operational highlights include the successful realization of approximately ₹142 crore from export debtors. The company plans a significant retail expansion, aiming to open up to 100 large-format showrooms in the next 12-18 months through a mix of owned and franchise models. Furthermore, PC Jeweller has entered into MoUs with NSDC and the Government of Uttar Pradesh (CM YUVA scheme) to onboard entrepreneurs for a micro-franchise network in rural and semi-urban markets.
In a strategic move towards backward integration, PCJ Mining SARL, a step-down subsidiary, has commenced on-site development work for gold mining in the Republic of Chad. The company is also planning to launch a new brand targeting Gen-Z customers with demi-fine and lab-grown diamond jewellery, aiming to tap into a segment with higher gross margins. The company successfully completed a fund raise of up to ₹500 crore via preferential issue of equity shares and warrants on September 24, 2026.
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