Financial Results Highlights

Consolidated Performance (Q1 FY27 vs Q1 FY26):

  • Revenue from operations: ₹877.04 crore (vs ₹724.91 crore) - 21% increase
  • Gross Profit: ₹260 crore (vs ₹144 crore) - 81% increase
  • Operating EBITDA: ₹242 crore (vs ₹127 crore) - 90% increase
  • Operating PBT: ₹223 crore (vs ₹81 crore) - 176% increase
  • Operating PAT (excluding other income): ₹213 crore (vs ₹79 crore) - 168% increase
  • Total comprehensive income: ₹214.74 crore
  • Basic EPS: ₹0.23 (not annualized)
  • Diluted EPS: ₹0.23 (not annualized)

Standalone Performance (Q1 FY27):

  • Revenue from operations: ₹803.82 crore
  • Other income: ₹2.33 crore
  • Profit before tax: ₹171.07 crore
  • Profit after tax: ₹171.09 crore
  • Basic EPS: ₹0.18
  • Diluted EPS: ₹0.18
  • Paid-up equity share capital: ₹971.05 crore (face value ₹1 per share)

Operational and Strategic Updates

  • Debt Reduction: Company has fully repaid and discharged debt of 7 out of 14 consortium banks, with all repayments completed ahead of scheduled due dates. Over 96% of outstanding debt of remaining 7 banks also discharged. Targeting debt-free status in current quarter (Q2 FY27).
  • Fundraising: Completed ₹2,702.11 crore preferential issue of fully convertible warrants with 93% of issue proceeds realized. Since quarter-end, promoters converted additional 4.16 crore warrants into equity shares.
  • Future Fundraising: Board approved raising up to ₹1,000 crore through Qualified Institutional Placement (QIP) in July 2026, subject to requisite approvals, primarily for growth opportunities and operational scaling.
  • Business Partnerships: Executed MoUs with National Skill Development Corporation (NSDC) under Ministry of Skill Development & Entrepreneurship, and with Government of Uttar Pradesh under CM YUVA scheme for franchisee showroom partnerships.

Capital Structure Changes

During quarter ended June 30, 2026, Board allotted 1,06,19,31,680 equity shares (face value ₹1 each) upon conversion of Warrants after receipt of balance 75% of Issue Price per Warrant (resolution passed by circulation on April 10, 2026).

Auditor's Qualified Opinion

Statutory Auditor A H P N and Associates issued modified review conclusion highlighting:

Basis for Qualified Conclusion:

1. Export Discounts: During FY2019, company extended discounts totaling ₹513.65 crore to export customers. While approvals obtained for ₹330.49 crore, remaining ₹183.16 crore discounts lack requisite approvals and supporting documentation. Unable to determine if adjustments necessary.

2. Export Receivables: Export receivables outstanding >9 months totaling ₹1,467.53 crore (original non-restated amount) restated per RBI exchange rates as of June 30, 2026. Management represented revised settlement timelines acknowledged but auditor unable to determine reasonableness of realization timelines or adequacy of existing expected credit loss provision of ₹281.39 crore (recognized as of March 31, 2026).

Other Matters:

  • Company continues recognizing outstanding financial liabilities net of payments made pending final discharge
  • PCJ Gems & Jewellery Limited (subsidiary) issued 25,00,000 Compulsorily Convertible Preference Shares (face value ₹10 each) via preferential allotment, changing non-controlling interest
  • Auditor did not review interim results of subsidiaries contributing ₹73.22 crore revenue and ₹43.67 crore comprehensive income

Subsidiary Structure

Consolidated results include:

  • Parent: PC Jeweller Limited
  • Subsidiaries: Luxury Products Trendsetter Private Limited; PC Jeweller Global FZCO; PCJ Gems & Jewellery Limited
  • Step-down Subsidiary: PCJ Mining SARL (66% owned by PCJ Gems & Jewellery Limited, 34% non-controlling interest)