PC Jeweller Limited delivered a strong operational performance for the year ended March 31, 2026, with its Profit After Tax (PAT) rising 58% to ₹710 crore. The company's revenue from operations increased by 49% to ₹3,352 crore for FY26, driven by a 33% year-on-year growth in standalone domestic revenue in Q4FY26. The Board of Directors approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, at its meeting held on May 27, 2026.

Financial Performance

The company delivered a robust turnaround across both standalone and consolidated metrics. On a standalone basis, Profit Before Tax (PBT) for FY26 increased by 58% to ₹708 crore, while Operating PAT for FY26 stood at ₹705 crore, an increase of 80% compared to the previous year. In Q4FY26, standalone sales rose 33% to ₹927 crore, while PBT jumped 59% to ₹151 crore. On a consolidated basis, Q4 net profit came in at ₹152.89 crore compared to ₹94.78 crore in the same period last year, while Q4 consolidated revenue stood at ₹927.34 crore versus ₹699.02 crore year-on-year. The company also successfully reduced its outstanding debt by more than 90% since the execution of the Settlement Agreement with banks on September 30, 2024.

The table below summarises the standalone annual financial performance:

The table below highlights the consolidated Q4 performance:

Strategic Developments

During the quarter, the company executed a Memorandum of Understanding with the National Skill Development Corporation (NSDC) to onboard up to 2,00,000 micro-entrepreneurs over five years. Additionally, PC Jeweller incorporated a step-down subsidiary, PCJ Mining SARL, in the Republic of Chad, which was granted a license for semi-mechanized artisanal gold mining in April 2026. The company also successfully completed its preferential issue of fully convertible warrants amounting to ₹2,702.11 crore on April 10, 2026, with a realisation of approximately 93%.

Board Decisions

The Board approved the re-appointment of Shri Balram Garg as Managing Director for a period of five years effective from July 01, 2026, subject to shareholder approval. The company remains confident of becoming debt-free in the near term and is in advanced stages of finalizing discussions for establishing large format franchisee showrooms to expand its retail presence.

PC Jeweller has announced that its step-down subsidiary PCJ Mining SARL has been granted a mining license by the Ministry of Petroleum, Mining and Oil Geology, Republic of Chad. The development was communicated to stock exchanges through an official regulatory filing.

Mining License Details

The regulatory filing reveals key specifications of the mining authorization:

Strategic Business Expansion

PCJ Mining SARL was incorporated as a step-down subsidiary with a comprehensive mandate covering extraction of precious metal ores, mining, mineral exploration and quarrying, production, refining and marketing of mineral products, and general import-export trade.

Vertical Integration Prospects

The mining license represents a significant milestone in PC Jeweller's expansion strategy. According to the company's communication, this development provides the Group an opportunity to explore mining operations and create potential vertical integration prospects. The move allows PC Jeweller to extend its operations beyond jewelry retail and manufacturing into the upstream mining sector.

Business Implications

The gold mining license could provide several strategic advantages including direct access to gold resources for jewelry manufacturing, enhanced supply chain control, potential cost optimization in raw material procurement, and reduced dependency on external gold suppliers. This vertical integration approach strengthens the company's position by providing greater control over raw material costs and availability in the competitive jewelry market.