PC Jeweller Limited submitted a regulatory filing to the BSE and NSE listing departments, providing an update on the clearance of its outstanding debt.
The disclosure states that the company has successfully cleared and repaid all outstanding debt to one more bank, in line with the terms of a Settlement Agreement dated September 30, 2024. This action is part of the company's objective to achieve a debt-free status in the current quarter (Q2 FY2027).
With this repayment, the company has now fully repaid the outstanding debt of 8 out of the 14 banks in its consortium. All these repayments were completed ahead of their scheduled due dates.
Regarding the remaining 6 consortium banks, the company has discharged more than 96% of its outstanding debt. The company confirms it remains on track to discharge the remaining less than 4% of the debt owed to these 6 banks and achieve a completely debt-free status within the ongoing quarter.
The company states that achieving this debt-free status will materially strengthen its balance sheet and financial position.
The disclosure is signed by Vishan Deo, Executive Director (Finance) & CFO, and is submitted for record-keeping purposes.