PCJEWELLERConsumer Durables

PC Jeweller Limited

Gems, Jewellery And Watches · ISIN INE785M01021 · BSE 534809 · NSE EQ · FV ₹1
Last price
₹12
-2.29%today
What this company does

PC Jeweller Limited operates in Gems, Jewellery And Watches, part of the Consumer Durables sector. It booked ₹877 cr of revenue in its latest quarter (Q1 FY27) and kept 25.3% of sales as profit. It is the 7th largest of 9 Gems, Jewellery And Watches companies we track, by market value.

In the report:
57out of 100
Equitytale Health Score
Mixed

Healthier than 57% of companies in Consumer Durables, on all six measures of filed financials. Each measure is ranked against the 30–41 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
56

At close. Not part of the score.

Profitability & returns41

How much profit it earns on the money it employs

Balance sheet59

How much it owes, and whether earnings cover the interest

Cash quality25

Whether reported profit actually arrives as cash

Growth & consistency50

Whether sales and profit have grown, and how steadily

Valuation99

What today's price implies, against our models or its peers · highest in its sector on what we could measure

Governance & risk86

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
Makes a profit
Strong 25% net margin
Sales up 21% vs last year
Profit up 37% vs last year
No promoter shares pledged
Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in PCJEWELLER?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹12 -2.29%
latest close · 2026-09-17
52-wk low ₹942 sessions so far52-wk high ₹14
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio13.4Low
LowAverageHigh
P/B ratio1.47Moderate
Below bookModerateHigh
EV / EBITDA13.3Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity10.9%Fair
WeakFairStrong ▸15%
Return on capital11.5%Fair
WeakFairStrong
Net margin25.3%Strong
ThinDecentStrong
EBITDA margin27.8%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.13Comfortable
LowModerateHigh ▸1
Interest cover17.6×Strong
RiskyOkayStrong ▸5×
Current ratio7.05Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹11,992 cr
Book value
₹8
EPS
₹0.23
latest quarter
Net debt
₹938 cr
owes more than its cash
Enterprise value
₹12,931 cr
EBITDA
₹975 cr
annualised
EBIT
₹953 cr
annualised
Operating margin
27.2%
Return on assets
9.4%
Earnings yield
7.45%
P/S
3.42
Sales / share
₹3.6
Tax rate
1.3%
Face value
₹1
Shares
971.1 cr
Working capital
₹7,071 cr
Current assets
₹8,240 cr
Current liabilities
₹1,169 cr
Delivery %
17.9%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.
Models span ₹1₹1, midpoint ₹1

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹877 cr
Other Income₹2 cr
Total Income₹879 cr
Cost of Materials₹741 cr
Purchases of Stock-in-Trade₹166 cr
Inventory Change (±)₹-290 cr
Employee Benefit Expense₹7 cr
Finance Costs₹14 cr
Depreciation & Amortisation₹5 cr
Other Expenses₹11 cr
Total Expenses₹654 cr
Profit before Tax₹225 cr
Tax Expense₹3 cr
Net Profit₹222 cr
Net margin on total income25.2%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹617 cr70.2%
Employee benefit expense₹7 cr0.8%
Finance costs₹14 cr1.5%
Depreciation & amortisation₹5 cr0.6%
Other expenses₹11 cr1.3%
Tax expense₹3 cr0.3%
Profit for the period₹222 cr25.2%
Total income ₹879 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue875 cr927 cr877 cr
Total income901 cr946 cr879 cr
Expenses710 cr793 cr654 cr
Profit before tax190 cr154 cr225 cr
Tax16 L68 L3 cr
Net profit (owners' share)190 cr153 cr222 cr
Net margin (owners' share, on revenue)21.7%16.5%25.3%
EPS (₹)0.260.200.23
YoY (latest quarter): total income +8.8% · net profit +37.2%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹9,425 cr
Shareholder equity
₹8,174 cr
parent shareholders
Total debt
₹1,073 cr
Cash
₹134 cr
Cash flow · H1 FY26
Operating
₹34 cr
Investing
₹1 cr
Financing
₹32 cr
Peer comparison
Gems, Jewellery And Watches · by market value
CompanyPriceMarket capP/E
Titan Company Limited₹4,841₹4.30 L cr60.4
Kalyan Jewellers India Limited₹581₹60,049 cr43.0
Thangamayil Jewellery Limited₹4,811₹14,953 cr43.9
Lalithaa Jewellery Mart Limited₹290₹14,519 cr17.5
BlueStone Jewellery and Lifestyle Limited₹831₹12,667 cr451.7
SKY GOLD AND DIAMONDS LIMITED₹793₹12,286 cr29.7
PC Jeweller Limitedthis company₹12₹11,992 cr13.4
P N Gadgil Jewellers Limited₹601₹8,158 cr19.4
Ethos Limited₹2,651₹7,093 cr63.1
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
trailing 12 months
Dividend / share (TTM)
Last dividend
₹0.5
ex 19 Sep 2018
ActionDetailEx-date
Stock splitStock Split From Rs.10/- to Rs.1/-16 Dec 2024
Dividend₹0.5 / share19 Sep 2018
Bonus issue1:16 Jul 2017
Dividend₹1 / share21 Jun 2017
Dividend₹3.35 / share9 Sep 2016
Dividend₹3.2 / share10 Sep 2015
Who owns it · 2026-06-30
No pledge
Promoter
38.5%
FII / Foreign
12.2%
DII / Domestic
4.3%
Retail / others
45.0%
Promoter stake down 1.3% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtBALRAM GARG · Promoters7.03 cr · ₹211.0 cr4 Feb 21
SoldSachin Gupta · Promoter Group4.85 cr10 Sep 20
BoughtKrishna Devi · Promoters4.85 cr10 Sep 20
Bulk / block deals
short · NSE1,50015 Sep 26
BoughtJUMP TRADING FINANCIAL INDIA PRIVATE LIMITED · NSE5.00 cr @ ₹13.5911 Sep 26
SoldJUMP TRADING FINANCIAL INDIA PRIVATE LIMITED · NSE4.92 cr @ ₹13.5711 Sep 26
Stake changes
BoughtBALRAM GARG · promoter→ 21.37% · 4.16 cr4 Aug 26
SoldUNICO Global Opportunities Fund Limited→ 4.97% · 3.65 cr3 Jul 26
BoughtUNICO GLOBAL OPPORTUNITIES FUND LIMITED→ 5.57% · 46.61 cr30 May 26
Promoter pledges
ReleasedNone4.83 cr · 26.99% held30 Mar 17
ReleasedNone29,767 · 0.02% held30 Mar 17
ReleasedNone2.20 L · 0.12% held30 Mar 17
What shareholders were asked to approve
1 proposal passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 23 Aug 2026
See the official result
1
Increase in the Authorised Share Capital and alteration in the Capital Clause of Memorandum of Association.
Backed by 99% of shareholders other than promotersneeded 50%
11.29 cr votes for, 12.46 L against · 0% of mutual funds and other big investors said no
2
Raising of funds up to an aggregate amount not exceeding Rs. 1,000 crore, in one or more tranches, through Qualified Institutions Placement.
Backed by 99% of shareholders other than promotersneeded 75%
11.33 cr votes for, 12.39 L against · 0% of mutual funds and other big investors said no
3
Re-appointment of Shri Balram Garg (DIN: 00032083) as Managing Director and payment of remuneration.
Promoters had a personal stake in this
Backed by 64% of shareholders other than promotersneeded 50%
7.28 cr votes for, 4.13 cr against · 42% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 12 named members
owning 38.5% between them · as of 2026-06-30
BALRAM GARG21.04%
NEW TRACK GARMENTS PRIVATE LIMITED5.15%
KRISHNA DEVI4.99%
POOJA GARG3.67%
BALRAM GARG (HUF)3.61%
SHIVANI GUPTA0.04%
ISHITA GARGno shares
MURTI GUPTAno shares
Business done with them
FY2025 · 3 of the group
The company paid ₹0 cr to companies in the promoter group last year — about 0.0% of its ₹2,245 cr revenue and received ₹98 cr back from them.
Mrs. Pooja Garg
Contribution received from them · Description is mentioned alongwith relevant line item
also owns 3.67% of the company
₹49 cr
company received
Balram Garg (HUF)
Contribution received from them · Description is mentioned alongwith relevant line item
also owns 3.61% of the company
₹49 cr
company received
Mr. Balram Garg
Contribution received from them · Description is mentioned alongwith relevant line item
also owns 21.04% of the company
₹1 L
company received
Mr. Balram Garg
Leases As Lessee · Description is mentioned alongwith relevant line item
also owns 21.04% of the company
₹1 L
company received

The company also transacted with 10 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹448 cr raised in Apr 2026 by selling shares to selected investors

As of Jun 2026, the company says it has spent 93% of what it set aside. CARE Ratings Limited watches the spending on the exchange’s behalf.

Repayment of Banker’s Outstanding Debts
budget changed
90%
of what was set aside
Working Capital Requirement
budget changed
100%
of what was set aside
General Corporate Purposes
budget changed
100%
of what was set aside
Issue Related Expenses
100%
of what was set aside

The rupee amounts in this company’s own breakdown don’t add up to the amount it says it raised — a common filing slip, where a table meant to be read in lakhs is entered as whole rupees. Rather than guess which is right, we show only the percentages, which are unaffected.

₹369 cr raised in Sep 2025 by selling shares to selected investors

As of Jun 2026, the company says it has spent 74% of what it set aside, leaving ₹131 cr still to be spent. CARE Ratings Limited watches the spending on the exchange’s behalf.

Repayment of Banker’s Outstanding Debts including interest thereon
70%
₹304 cr of ₹434 cr
Working Capital Requirement
100%
₹65 cr of ₹65 cr
Issue Related Expenses
0%
₹0 cr of ₹40 L
Spent by quarter: 63%74%74%74% (to Jun 2026)

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.