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PC Jeweller Ltd.
(PCJEWELLER)
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Rating:65Neutral
Price Target:
₹17.00
▲(76.17% Upside)
Action:Reiterated
Date:10/20/26
The score is driven primarily by improved earnings and a much stronger balance sheet, but it is held back by weak cash conversion (negative operating/free cash flow). Technicals are supportive due to strong trend and positive MACD, though overbought readings increase near-term risk. Valuation appears moderate based on the P/E provided.
Positive Factors
Revenue and profit growth
The improvement in revenue and net income indicates stronger operating performance and customer demand than in the prior year. If maintained, this scale of growth can support reinvestment, improve operating leverage, and strengthen the company’s earnings base over the next several quarters.
Negative Factors
Weak cash conversion
Persistent negative operating and free cash flow despite reported profits shows that earnings are not consistently converting into usable cash. This can increase reliance on working-capital management or external funding and may restrict the company’s ability to reinvest sustainably.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and profit growth
The improvement in revenue and net income indicates stronger operating performance and customer demand than in the prior year. If maintained, this scale of growth can support reinvestment, improve operating leverage, and strengthen the company’s earnings base over the next several quarters.
Read all positive factors
PC Jeweller Ltd. (PCJEWELLER) vs. iShares MSCI India ETF (INDA)
Market Cap
₹150.96B
Dividend Yield0.64%
Average Volume (3M)29.61M
Price to Earnings (P/E)15.0
Beta (1Y)0.76
Revenue Growth29.27%
EPS Growth3.00%
CountryIN
Employees700
SectorGeneral
Sector StrengthN/A
IndustryLuxury Goods
Share Statistics
EPS (TTM)1.03
Shares Outstanding9,752,135,000
10 Day Avg. Volume51,080,246
30 Day Avg. Volume29,605,469
Financial Highlights & Ratios
PEG Ratio-0.66
Price to Book (P/B)0.66
Price to Sales (P/S)1.61
P/FCF Ratio-27.03
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
PC Jeweller Ltd. Business Overview & Revenue Model
Company Description
PC Jeweller Limited, established in 2005 and headquartered in Delhi, India, is a prominent player in the Indian jewelry market. The company specializes in the manufacturing, retailing, and trading of gold, diamond-studded, and silver jewelry. Its ...
How the Company Makes Money
PC Jeweller makes money primarily by selling jewellery to customers, with revenue driven by (1) domestic retail sales through its branded showrooms and other direct-to-consumer channels, where it earns a gross margin based on the difference betwee...
PC Jeweller Ltd. Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
74
Positive
Cash Flow
32
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 37.34B | 33.53B | 22.45B | 6.05B | 24.73B | 16.06B |
| Gross Profit | 9.69B | 7.09B | 4.34B | -701.50M | 3.84B | 1.93B |
| EBITDA | 9.61B | 8.67B | 5.22B | -1.16B | 4.11B | -479.10M |
| Net Income | 8.96B | 7.14B | 5.78B | -6.29B | -2.03B | -3.91B |
Balance Sheet | ||||||
| Total Assets | 98.34B | 94.25B | 84.12B | 72.69B | 76.36B | 75.45B |
| Cash, Cash Equivalents and Short-Term Investments | 785.60M | 1.36B | 637.80M | 73.40M | 500.80M | 628.50M |
| Total Debt | 3.39B | 11.66B | 21.51B | 41.50B | 37.36B | 33.91B |
| Total Liabilities | 5.34B | 12.51B | 22.20B | 43.38B | 39.45B | 36.56B |
| Stockholders Equity | 92.87B | 81.74B | 61.93B | 29.31B | 36.91B | 38.89B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -2.00B | -6.75B | 637.30M | 965.80M | -7.23B |
| Operating Cash Flow | 0.00 | -1.97B | -6.75B | 638.60M | 989.50M | -7.19B |
| Investing Cash Flow | 0.00 | 3.40M | 18.60M | 70.60M | 304.80M | 1.15B |
| Financing Cash Flow | 0.00 | 2.69B | 7.31B | -1.08B | -1.11B | 5.70B |
PC Jeweller Ltd. Technical Analysis
Positive
9.65
Price Trends
13.40
Positive
11.41
Positive
10.42
Positive
Market Momentum
1.02
Positive
56.01
Neutral
30.32
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PCJEWELLER, the sentiment is Positive. The current price of 9.65 is below the 20-day moving average (MA) of 15.30, below the 50-day MA of 13.40, and below the 200-day MA of 10.42, indicating a bullish trend. The MACD of 1.02 indicates Positive momentum. The RSI at 56.01 is Neutral, neither overbought nor oversold. The STOCH value of 30.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:PCJEWELLER.
PC Jeweller Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | ₹150.96B | 15.03 | ― | 0.64% | 29.27% | 3.00% | |
61 Neutral | ₹48.05B | 8.41 | ― | 0.59% | 41.91% | 165.71% | |
61 Neutral | ₹138.51B | 35.41 | ― | 0.40% | 83.21% | 252.74% | |
56 Neutral | ₹515.34B | 35.83 | ― | 0.50% | 45.75% | 78.91% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹40.87B | 18.98 | ― | 0.41% | 24.14% | 110.35% | |
53 Neutral | ₹82.77B | 15.65 | ― | ― | 50.66% | 63.28% |
* General Sector Average
IN:PCJEWELLER
PC Jeweller Ltd.
15.48
3.86
33.22%
IN:KALYANKJIL
Kalyan Jewellers India Ltd.
499.00
-8.83
-1.74%
IN:PNGJL
P N Gadgil Jewellers Limited
562.30
-86.25
-13.30%
IN:SENCO
Senco Gold Limited
293.15
-29.73
-9.21%
IN:TBZ
Tribhovandas Bhimji Zaveri Limited
612.50
433.93
243.00%
IN:THANGAMAYL
Thangamayil Jewellery Ltd.
4,456.20
2,292.81
105.98%
PC Jeweller Ltd. Corporate Events
PC Jeweller Secures Full Release of Mortgaged Assets After Clearing Consortium Debt
Oct 8, 2026
PC Jeweller Ltd. has completed the clearance of its outstanding debt with a consortium of 14 banks, resulting in the full release of all mortgaged assets and related securities. The company confirmed that original title deeds have been returned to...
PC Jeweller Posts 28% Revenue Growth, Turns Debt-Free After ₹500 Crore Capital Raise
Oct 7, 2026
PC Jeweller reported consolidated revenue growth of about 28 percent year-on-year for the quarter ended 30 September 2026, driven by robust consumer demand and strong business momentum. The company also completed a ₹500 crore fund-raising vi...
PC Jeweller boosts capital as promoter converts 74 lakh warrants into equity
Sep 22, 2026
PC Jeweller has allotted 7,407,500 equity shares to promoter and managing director Balram Garg following the conversion of an equal number of fully convertible warrants issued on a preferential basis. The new shares, priced at ₹18 per warran...
PC Jeweller Sets Virtual AGM to Approve FY26 Accounts and Director Reappointment
Sep 7, 2026
PC Jeweller Ltd. has scheduled its 21st Annual General Meeting for September 30, 2026 at 11:00 a.m. India time, to be conducted via video conferencing and other audio-visual means in line with regulatory allowances for virtual meetings. The AGM wi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.