Shares of PC Jeweller Ltd witnessed a significant uptick during Monday's trading session, climbing as much as 6% to reach ₹10.13 per piece. This rally was fueled by the company's impressive business update for the December quarter (Q3 FY26), which highlighted robust financial performance and strategic progress.
Strong Quarterly Performance and Debt Reduction
The driving force behind the investor optimism was the company's reported standalone revenue growth. PC Jeweller posted a remarkable year-on-year revenue increase of approximately 37% for Q3 FY26. This surge was primarily attributed to vigorous consumer demand during the ongoing festive and wedding season in India.
In a filing to the stock exchanges, the company reaffirmed its commitment to becoming debt-free in the near future. It provided a concrete update on this goal, stating that since the execution of a Settlement Agreement with banks on September 30, 2024, it has already slashed its outstanding debt by about 68%. This represents substantial headway in strengthening its balance sheet.
"Looking ahead, the Company will remain focused on expanding its retail footprint, achieving debt-free status, and consistently delivering strong performances in the upcoming quarters," the company added in its statement.
Strategic Expansion and Government Partnership
Beyond financial metrics, PC Jeweller is actively pursuing growth through strategic initiatives. During the quarter, the company proposed a plan to the Directorate of Industries and Enterprises Promotion of the Uttar Pradesh government. The proposal aimed to support trained goldsmith entrepreneurs in rural and semi-urban areas by helping them establish 1,000 jewellery retail franchise units under the PC Jeweller brand.
This proposal has gained official approval. The company has been onboarded as a Franchise Brand on the state's CM-YUVA Portal and has entered into a Memorandum of Understanding with the CM YUVA Mission under the Department of MSME and Export Promotion, Government of Uttar Pradesh.
Recap of Previous Quarter's Stellar Results
The current momentum follows an already strong performance in the preceding quarter. For the second quarter ended September 30, 2025 (Q2 FY25), PC Jeweller had reported a net profit of ₹209.5 crore, marking a 17.2% increase from ₹178.8 crore in the same period last year.
Its revenue for Q2 FY25 witnessed an explosive growth of 63.4% year-on-year, soaring to ₹825.2 crore from ₹505 crore. This performance was underpinned by robust festive demand and sustained domestic sales momentum. The operating profit (EBITDA) more than doubled to ₹177.5 crore from ₹86.2 crore, with margins expanding impressively to 21.5% from 17%.
Stock Performance Trajectory
The jewellery stock has been on a bullish run over the past five trading sessions, gaining close to 17%. However, it's important to view this in a broader context. The stock has declined by 8% over the past month and has corrected by 46% in the last six months.
Despite recent volatility, PC Jeweller shares have delivered multibagger returns of 259% over the past five years. The stock, listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), hit its 52-week high of ₹19.55 on July 7, 2025, and a 52-week low of ₹8.66 on December 30, 2025.
The company's latest update, combining strong revenue growth, aggressive debt repayment, and a clear expansion strategy through government-backed franchises, has reignited investor interest, positioning it for its next phase of growth.
