PCJEWELLERConsumer Durables

PC Jeweller Limited

Gems, Jewellery And Watches · ISIN INE785M01021 · BSE 534809 · NSE EQ · FV ₹1
Last price
₹16
+7.69%today
What this company does

PC Jeweller Limited operates in Gems, Jewellery And Watches, part of the Consumer Durables sector. It booked ₹1,054 cr of revenue in its latest quarter (Q2 FY27) and kept 31.4% of sales as profit. It is the 4th largest of 9 Gems, Jewellery And Watches companies we track, by market value.

In the report:
64out of 100
Equitytale Health Score
Mixed

Healthier than 64% of companies in Consumer Durables, on all six measures of filed financials. Each measure is ranked against the 35–45 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)
47

At close. Not part of the score.

Profitability & returns58

How much profit it earns on the money it employs

Balance sheet75

How much it owes, and whether earnings cover the interest

Cash quality24

Whether reported profit actually arrives as cash

Growth & consistency50

Whether sales and profit have grown, and how steadily

Valuation97

What today's price implies, against our models or its peers

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 31% net margin
✓ Sales up 28% vs last year
✓ Profit up 58% vs last year
✓ No promoter shares pledged
✓ Virtually debt-free
✓ 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 We do not publish price targets or predict returns.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
₹16▲ +7.69%
latest close · 2026-11-04
52-wk low ₹974 sessions so far52-wk high ₹20
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 ratio11.6Low
LowAverageHigh
P/B ratio1.67Moderate
Below bookModerateHigh
EV / EBITDA11.4Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity14.3%Fair
WeakFairStrong ▸15%
Return on capital14.4%Fair
WeakFairStrong
Net margin31.4%Strong
ThinDecentStrong
EBITDA margin32.7%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.03Comfortable
LowModerateHigh ▸1
Interest cover38.9×Strong
RiskyOkayStrong ▸5×
Current ratio19.82Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹15,516 cr
Book value
₹9
EPS
₹0.34
latest quarter
Net debt
₹158 cr
owes more than its cash
Enterprise value
₹15,674 cr
EBITDA
₹1,381 cr
annualised
EBIT
₹1,357 cr
annualised
Operating margin
32.2%
Return on assets
13.5%
Earnings yield
8.60%
P/S
3.68
Sales / share
₹4.3
Tax rate
-0.0%
Face value
₹1
Shares
980.8 cr
Working capital
₹8,150 cr
Current assets
₹8,583 cr
Current liabilities
₹433 cr
Delivery %
20.2%
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 2026-11-04.

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 · Q2 FY27 (consolidated)
Revenue from Operations₹1,054 cr
Other Income₹36 cr
Total Income₹1,090 cr
Cost of Materials₹630 cr
Purchases of Stock-in-Trade₹259 cr
Inventory Change (±)₹-160 cr
Employee Benefit Expense₹7 cr
Finance Costs₹9 cr
Depreciation & Amortisation₹6 cr
Other Expenses₹8 cr
Total Expenses₹759 cr
Profit before Tax₹331 cr
Tax Expense₹-5 L
Net Profit₹331 cr
Net margin on total income30.3%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹729 cr66.9%
Employee benefit expense₹7 cr0.7%
Finance costs₹9 cr0.8%
Depreciation & amortisation₹6 cr0.5%
Other expenses₹8 cr0.7%
Profit for the period₹331 cr30.3%
Total income ₹1,090 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue927 cr877 cr1,054 cr
Total income946 cr879 cr1,090 cr
Expenses793 cr654 cr759 cr
Profit before tax154 cr225 cr331 cr
Tax68 L3 cr-5 L
Net profit (owners' share)153 cr222 cr331 cr
Net margin (owners' share, on revenue)16.5%25.3%31.4%
EPS (₹)0.200.230.34
YoY (latest quarter): total income +21.8% · net profit +58.0%
Balance sheet & cash flow · as of Sep 2026
Debt-free
Total assets
₹9,834 cr
Shareholder equity
₹9,287 cr
parent shareholders
Total debt
₹235 cr
Cash
₹77 cr
Cash flow · H1 FY27
Operating
₹253 cr
Investing
₹-32 cr
Financing
₹-279 cr
Peer comparison
Gems, Jewellery And Watches · by market value
CompanyPriceMarket capP/E
Titan Company Limited₹4,562₹4.05 L cr56.9
Kalyan Jewellers India Limited₹508₹52,484 cr37.6
Lalithaa Jewellery Mart Limited₹363₹18,149 cr21.8
PC Jeweller Limitedthis company₹15₹14,408 cr10.8
Thangamayil Jewellery Limited₹4,533₹14,088 cr41.4
SKY GOLD AND DIAMONDS LIMITED₹870₹13,478 cr26.3
BlueStone Jewellery and Lifestyle Limited₹672₹10,272 cr—
P N Gadgil Jewellers Limited₹576₹8,472 cr16.6
Ethos Limited₹2,654₹7,102 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 · 2026-09-30
No pledge
Promoter
39.1%
FII / Foreign
10.6%
DII / Domestic
3.8%
Retail / others
46.5%
Promoter stake down 1.0% 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
BoughtJUMP TRADING FINANCIAL INDIA PRIVATE LIMITED · NSE5.68 cr @ ₹16.0129 Oct 26
SoldJUMP TRADING FINANCIAL INDIA PRIVATE LIMITED · NSE5.68 cr @ ₹15.9929 Oct 26
short— · NSE1,50228 Oct 26
Stake changes
BoughtBALRAM GARG · promoter→ 21.82% · 5.56 cr24 Sep 26
BoughtBALRAM GARG · promoter→ 21.37% · 4.16 cr4 Aug 26
SoldUNICO Global Opportunities Fund Limited→ 4.97% · 3.65 cr3 Jul 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
2 proposals 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.

Yearly shareholder meeting · 30 Sep 2026
See the official result
1
To receive, consider and adopt the audited standalone financial statements of the Company for the financial year ended March 31, 2026, the reports of the Board of Directors and Statutory Auditor thereon and the audited consolidated financial statements of the Company for the financial year ended March 31, 2026 and the report of Statutory Auditor thereon.
⚑ Passed only because promoters voted yes
Backed by 15% of shareholders other than promotersneeded 50%
2.28 cr votes for, 12.84 cr against · 99% of mutual funds and other big investors said no
2
To appoint a Director in place of Shri Vishan Deo (DIN: 07634994), who retires by rotation and being eligible, offers himself for re-appointment.
Backed by 97% of shareholders other than promotersneeded 50%
14.77 cr votes for, 43.65 L against · 3% 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 39.1% between them · as of 2026-09-30
BALRAM GARG21.82%
NEW TRACK GARMENTS PRIVATE LIMITED5.10%
KRISHNA DEVI4.94%
POOJA GARG3.63%
BALRAM GARG (HUF)3.58%
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 3.63% of the company
₹49 cr
company received
Balram Garg (HUF)
Contribution received from them · Description is mentioned alongwith relevant line item
also owns 3.58% of the company
₹49 cr
company received
Mr. Balram Garg
Contribution received from them · Description is mentioned alongwith relevant line item
also owns 21.82% of the company
₹1 L
company received
Mr. Balram Garg
Leases As Lessee · Description is mentioned alongwith relevant line item
also owns 21.82% 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.

₹49 cr raised in Sep 2026 by selling shares to selected investors

The company has not broken this money down into purposes in its filing for Sep 2026, so there is nothing to measure it against yet. CARE Ratings Limited watches the spending on the exchange’s behalf.

₹16 cr raised in Sep 2026 by selling shares to selected investors

The company has not broken this money down into purposes in its filing for Sep 2026, so there is nothing to measure it against yet. CARE Ratings Limited watches the spending on the exchange’s behalf.

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.