PC Jeweller cuts 56% debt in FY25, to become debt-free by Mar FY26: MD

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PC Jeweller cuts 56% debt in FY25, to become debt-free by Mar FY26: MD - Business Standard

Quick Summary:

PC Jeweller Ltd has reduced bank loans by more than half to about Rs 1,800 crore this fiscal year and aims to become debt-free by March next year on better sales and fundraise, its MD Balram Garg said.

He said the company will get more than Rs 1,500 crore in the next fiscal from investors as proceeds against preferential issue of warrants and the same will be utilised to clear bank loans.

In September, Delhi-based PC Jeweller executed a settlement agreement with a consortium of 14 banks led by SBI to clear its outstanding loan, which stood at nearly Rs 4,100 crore as on March 31, 3024.