New Delhi [India], September 3: PC Jeweller Limited has announced another significant step in its ongoing debt-reduction programme, reporting the successful clearance and repayment of its outstanding debt to one more bank under the terms of the Settlement Agreement dated September 30, 2024.
The latest repayment takes the number of consortium banks whose outstanding debt has been fully repaid to nine out of 14. According to the company, all repayments made to these nine banks have been completed ahead of their scheduled due dates, highlighting the pace of its debt-resolution efforts.
The jewellery retailer has simultaneously made substantial progress with the remaining five consortium banks. PC Jeweller said it has already discharged more than 96% of the outstanding debt owed to these lenders, leaving less than 4% still to be repaid.
The company has reiterated its objective of becoming debt-free within the current month. If completed as planned, the milestone would represent a significant strengthening of PC Jeweller’s balance sheet and overall financial position.
The company said the debt-free status would materially strengthen its balance sheet and financial position, as it continues to execute its repayment commitments under the settlement arrangement.
The disclosure was made by PC Jeweller to both BSE Limited and National Stock Exchange of India Limited on September 3, 2026. The company’s BSE scrip code is 534809, while its NSE symbol is PCJEWELLER.
Market takeaway:Â The latest debt repayment update is a positive balance-sheet development for PC Jeweller, particularly as the company moves closer to eliminating its outstanding consortium-bank debt. The key near-term milestone for investors will be whether the company completes the remaining repayments and formally achieves its targeted debt-free status within September.
