PC Jeweller Limited provided an update on the clearance of its outstanding debt to banks. The company successfully cleared and repaid all outstanding debt under the terms of a Settlement Agreement dated September 30, 2024 with respect to one additional bank.
This repayment represents the completion of debt settlements with 12 out of 14 consortium banks, with all repayments completed ahead of scheduled due dates. With this latest repayment, the company has now discharged more than 98% of its outstanding debt to banks.
The company remains on track to discharge the remaining less than 2% of outstanding bank debt and achieve a debt-free status in September 2026. This achievement is expected to materially strengthen the company's balance sheet and financial position.
The disclosure was signed by Vishan Deo, Executive Director (Finance) & CFO (DIN: 07634994), and submitted to both BSE Limited and National Stock Exchange of India Limited for compliance purposes.