PC Jeweller Ltd.Sets December 16 as Record Date as 1:10 Stock Split

PC JewellerLtd. (BSE: 534809, NSE: PCJEWELLER), one of the leading and fastest-growing jewellery retail chains in India, has announced that it has set December 16, 2024 as record date for sub-division / split of equity shares of the Company, in 1:10 ratio, i.e. 1 equity share be sub-divided / split into 10 equity shares.
Recently, the company allotted 3,38,85,000equity shares of FV of Rs. 10 each, on conversion of 3,38,85,000 Warrants to 35 Allottees belonging to ‘Non-Promoter, Public Category’, upon receipt of the balance amount aggregating to INR 142,82,52,750 at the rate of INR 42.15 per Warrant (75% of the Issue Price per Warrant) pursuant to the exercise of their rights of conversion of Warrants into equity shares.

Earlier, the company reported stellar earnings for the quarter and half year ended 30 September 2024.The consumer demand and footfall exhibited a significant improvement in Q1 FY25 and this momentum has further increased in Q2 FY25, the result of which is clearly visible in the company’s topline as well as bottomline.

For Q2FY25, the company reported revenue at Rs. 505 Crores, recording a growth of 1430% YoY. The EBITDA was reported at Rs. 129 Crores. PBT came in at Rs. 124 Crores.For H1FY25, the revenue recorded an increase of 797% YoY, and came in at Rs. 906 Crores. EBITDA came in at Rs. 218 Crores, and PBT was reported at Rs. 207 Crores.

In continuation to the company’s efforts to amicably settle its issues with the banks, during Q2 FY25, the company’s Offer for Settlement (OTS) was approved by the competent authorities of all the 14 banks of the consortium. Further, the company has executed a Settlement Agreement with the consortium banks on 30th Sep 2024 and as per the terms of the Settlement Agreement, the Company has discharged and paid part of the cash consideration that it had to pay to the Lenders at the time of execution of Settlement Agreement. A substantial portion of this consideration was raised from the Promoter Group entities by means of subscribing to preferential issues of Fully Convertible Warrants of the Company.
In view of the positive developments, specially related to favorable consideration of its OTS proposal by the banks, withdrawal of litigations in various legal foras and the response from its investors, the company is confident and focused towards moving ahead on the path of growth and profitability.

PC JewellerLtd. embarked on its journey in 2005 with the inauguration of its first showroom in Karol Bagh, New Delhi. The company’s vision was to redefine elegance, allure, and style through exquisite jewellery. Today, PC Jeweller stands as one of the fastest-growing jewellery retail chains in India, with showrooms in multiple cities across over 17 states.

Since its inception, PC Jeweller has been a pioneer in design, with each product crafted to perfection. Whether it is elaborate wedding jewellery or affordable everyday wearables, PC Jeweller has consistently produced exceptional designs of unmatched quality. Over the years, their timeless pieces have transformed intimate moments into cherished lifetime memories.

PC Jeweller’s business model focuses on establishing large-format, standalone showrooms in prime high-street locations. These stores offer a diverse range of jewellery across all price points, with a growing emphasis on diamond jewellery. The company is committed to selling only hallmarked jewellery and certified diamond pieces, ensuring quality and purity. This dedication, coupled with transparent and customer-friendly policies, has swiftly established PC Jeweller as a trusted and respected brand.

From the sourcing of raw materials to the sale of the finished product, the company’s processes are integrated and meticulously aligned. The company closely maps customer preferences and manufactures products that cater to diverse tastes, ensuring customers are spoilt for choice. Throughout the production process, stringent quality measures are in place to guarantee the purity, value, and finish of each piece. PC Jeweller also offers expertise in customized and personalized designs, allowing customers to create their perfect jewellery pieces.

PC Jeweller’s remarkable journey has been marked by sustainable customer initiatives and unparalleled quality that has garnered loyal customer support. With a blend of contemporary and classic designs aimed at longevity, the company is dedicated to providing the best buying experience, whether through their online platforms or physical showrooms.