PC Jeweller Reports 61% Jump in Q4 Net Profit, Plans Expansion Push

PC Jeweller posted a strong performance for the fourth quarter ended March 31, 2026 with consolidated net profit rising 61% year-on-year to ₹153 crore, compared to ₹95 crore in the corresponding quarter last year.

Revenue from operations grew 33% YoY to ₹927 crore in Q4 (January-March) FY26, up from ₹699 crore in the same period a year ago, supported by sustained consumer demand and higher domestic sales.

At the operating level, EBITDA increased 13% to ₹164 crore from ₹145 crore in Q4 FY25, aided by operating leverage and improved cost efficiencies. However, EBITDA margin narrowed to 17.6% from 20.7% in the year-ago quarter.

The company also reported a robust standalone domestic business performance during the quarter, with domestic revenue increasing around 33% annually and profit before tax (PBT) rising nearly 59% year-on-year.

“FY26 was an important year for PC Jeweller, as the Company regained its momentum and delivered a strong performance throughout the year. This broad-based growth was driven by strong execution across the business, supported by continued consumer demand throughout the year, marking a meaningful progress in the Company’s ongoing turn around journey,” said PC Jeweller Managing Director Balram Garg.

For FY26, PC Jeweller reported a 49% increase in revenue to ₹3,353 crore, compared to ₹2,243 crore in FY25. The company’s operating profit after tax (PAT) rose 80% year-on-year to ₹705 crore, excluding income tax refund and related interest classified as exceptional items, against ₹392 crore in the previous fiscal.

The jewellery retailer said it continues to make significant progress towards becoming debt-free, noting that its outstanding debt has declined by over 90% since the settlement agreement executed with banks on September 30, 2024. The company said the reduction reflects a strengthening of its overall financial position.

Garg said that once the company becomes debt-free, it plans to enter an aggressive expansion phase, adding that it has been receiving a strong response from prospective business partners, some at advanced stages, for large-format franchisee showrooms, and expressed confidence of opening up to 100 such outlets over the next 12-18 months.

In April 2026, PC Jeweller completed its preferential allotment of fully convertible warrants valued at ₹2,702.11 crore, achieving a realisation of nearly 93% of the total warrants issued. The company said the conversion has further reinforced its capital base and accelerated its journey towards becoming debt-free.

“To summarise the company’s vision going ahead, we plan for a debt-free balance sheet soon, rapid expansion through opening large-format franchise showrooms, market penetration and expansion through opening franchise showrooms under government tie-ups and value chain integration through mining activities,” said Garg.

Garg further added that the jewellery company remains focused on strengthening its core operations, improving its financial position and pursuing strategic initiatives to drive long-term growth, noting that a significantly improved balance sheet and emerging growth opportunities position it well for sustainable expansion and value creation.