PC Jeweller Ltd. (PCJEWELLER) AI Stock Analysis

• Market Cap: ₹78.05B
• Dividend Yield: N/A
• Average Volume (3M): 8.93M
• Price to Earnings (P/E): 11.0
• Beta (1Y): 1.16
• Revenue Growth: 190.41%
• EPS Growth: 2939.51%
• Country: IN
• Employees: 614
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Luxury Goods
• EPS (TTM): 0.26
• Shares Outstanding: 7,328,494,600
• 10 Day Avg. Volume: 6,546,987
• 30 Day Avg. Volume: 8,930,794
• PEG Ratio: -0.07
• Price to Book (P/B): 1.13
• Price to Sales (P/S): 3.11
• P/FCF Ratio: -10.33
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 62 Neutral
• Price Target: ₹11.50 ▲(20.29% Upside)

PC Jeweller's stock score is primarily influenced by its financial performance, which shows recovery in profitability and stability, though cash flow issues remain a concern. Technical analysis indicates a bearish trend, while valuation suggests the stock is reasonably priced. The absence of earnings call data and corporate events limits additional insights.

Positive Factors

Improved Profitability

The significant improvement in net profit margin indicates better cost management and operational efficiency, enhancing long-term profitability and competitiveness.

Financial Stability

A strong equity base and improved debt-to-equity ratio reflect sound financial health, providing resilience against economic fluctuations and supporting growth initiatives.

Leverage Management

Improved leverage management reduces financial risk and interest burden, enhancing the company's ability to invest in growth and withstand market volatility.

Negative Factors

Volatile Revenue Growth

Inconsistent revenue growth can hinder strategic planning and investment, posing challenges to sustaining long-term growth and market position.

Cash Flow Challenges

Negative free cash flow indicates potential liquidity issues, limiting the company's ability to fund operations and growth without external financing.

Sustainability Issues

A negative operating cash flow to net income ratio suggests difficulties in converting profits into cash, impacting the company's operational sustainability and financial flexibility.

PC Jeweller Ltd. Business Overview & Revenue Model

Company Description

PC Jeweller Limited manufactures, retails, and trades in gold jewelry, diamond studded jewelry, and silver items in India. The company sells its jewelry through its showrooms and Website. As of March 31, 2021, it had 82 showrooms, including 11 franchisee showrooms. The company also exports its products. PC Jeweller Limited was incorporated in 2005 and is based in Delhi, India.

How the Company Makes Money

PC Jeweller generates revenue primarily through the sale of jewelry products, including gold, diamond, and silver items, which account for the bulk of its earnings. The company operates a multi-channel revenue model that includes retail showrooms, online sales through its e-commerce platform, and participation in various exhibitions and trade shows. Key revenue streams include the direct sale of finished jewelry, customization services, and gold loan services. Additionally, PC Jeweller benefits from partnerships with financial institutions for gold loans, which further enhances its earnings potential. The company's ability to offer seasonal and festival promotions also drives higher sales volumes, contributing to its overall profitability.

PC Jeweller Ltd. Financial Statement Overview

Summary

PC Jeweller shows signs of recovery in profitability and financial stability, with improved margins and leverage management. However, cash flow challenges persist, requiring close attention to ensure sustained operations. Revenue growth is volatile, and while recent trends are positive, continued improvement is necessary to secure long-term growth.

Income Statement

PC Jeweller has shown improvement in profitability with a significant positive net profit margin of 25.74% and a gross profit margin of 19.32% in the latest year. However, revenue growth remains inconsistent, showing a decline from 2020 to 2021, and a recent sharp recovery. Notably, EBIT and EBITDA margins have recovered from negative values in recent years to positive figures, indicating a return to operational efficiency.

Balance Sheet

The company boasts a strong equity base with an equity ratio of 73.6%, indicating financial stability. The debt-to-equity ratio has improved over the years, reflecting better leverage management, though it remains a point to monitor at 0.35. The return on equity is strong at 9.33%, suggesting effective use of shareholder funds, despite past volatility.

Cash Flow

Cash flow performance is mixed, with a concerning negative free cash flow in the latest year despite positive operating cash flow. The operating cash flow to net income ratio is negative, indicating potential sustainability issues. However, free cash flow to net income ratio is improving from previous periods, suggesting gradual recovery.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	25.68B	22.45B	6.05B	24.73B	16.06B	28.26B
Gross Profit	5.41B	4.34B	-701.50M	3.84B	1.93B	5.51B
EBITDA	6.42B	5.22B	-1.16B	4.09B	-479.70M	4.44B
Net Income	5.84B	5.78B	-6.29B	-2.03B	-3.91B	620.00M
Balance Sheet
Total Assets	0.00	84.12B	72.69B	76.36B	75.45B	78.98B
Cash, Cash Equivalents and Short-Term Investments	637.80M	637.80M	73.40M	500.80M	628.50M	1.01B
Total Debt	0.00	21.51B	41.50B	37.36B	33.91B	24.14B
Total Liabilities	-61.93B	22.20B	43.38B	39.45B	36.56B	36.28B
Stockholders Equity	61.93B	61.93B	29.31B	36.91B	38.89B	42.69B
Cash Flow
Free Cash Flow	0.00	-6.75B	637.30M	965.80M	-7.23B	1.14B
Operating Cash Flow	0.00	-6.75B	638.60M	989.50M	-7.19B	1.15B
Investing Cash Flow	0.00	18.60M	70.60M	304.80M	1.15B	943.20M
Financing Cash Flow	0.00	7.31B	-1.08B	-1.11B	5.70B	-1.79B

PC Jeweller Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 9.56
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: 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 9.56 is below the 20-day moving average (MA) of 10.48, below the 50-day MA of 10.24, and below the 200-day MA of 12.48, indicating a neutral trend. The MACD of 0.11 indicates Negative momentum. The RSI at 55.20 is Neutral, neither overbought nor oversold. The STOCH value of 48.32 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TBZ	66 Neutral	₹10.72B	7.44	―	1.38%	14.86%	48.09%
THANGAMAYL	66 Neutral	₹103.54B	43.07	―	0.37%	35.04%	80.12%
SENCO	66 Neutral	₹50.38B	20.09	―	0.31%	20.18%	16.17%
PCJEWELLER	62 Neutral	₹78.05B	10.98	―	―	190.41%	2939.51%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
RAJESHEXPO	60 Neutral	₹48.41B	36.68	―	―	112.02%	244.77%
GOENKA	41 Neutral	₹266.28M	-16.34	―	―	―	―

PC Jeweller Ltd. Corporate Events

PC Jeweller Posts 37% Q3 Revenue Growth, Wins UP Franchise Push and Cuts Debt 68%

PC Jeweller reported a strong third quarter for FY2026, with standalone revenue rising about 37% year-on-year, driven by robust consumer demand during the festival and wedding season. During the quarter, it secured approval from the Government of Uttar Pradesh under the CM-YUVA initiative to support the establishment of 1,000 jewellery retail franchise units in rural and semi-urban areas, a move expected to expand its retail footprint, enhance visibility and scalability, and contribute to local entrepreneurship and employment. The company also highlighted its ongoing deleveraging efforts, noting that it has cut its outstanding debt by roughly 68% since a settlement agreement with banks in September 2024, and reiterated its focus on becoming debt-free while continuing to grow its retail presence and sustain strong operating performance, subject to auditor review of provisional figures.

PC Jeweller Files SEBI Regulation 74(5) Compliance Certificate for December Quarter

PC Jeweller Limited has submitted to BSE and NSE a compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended December 31, 2025, confirming that details of securities dematerialised and rematerialised during the period have been duly furnished to all stock exchanges where its shares are listed. The certification, issued by its registrar and transfer agent KFin Technologies Limited and forwarded by the company, underscores ongoing adherence to depository and listing regulations, reassuring investors and regulators about the integrity and transparency of its share transfer and depository processes.

PC Jeweller Approved as Franchise Brand on CM-YUVA Portal

PC Jeweller Limited has received approval from the Directorate of Industries and Enterprises Promotion, Government of Uttar Pradesh, to become a Franchise Brand on the CM-YUVA Portal. This initiative supports the state’s entrepreneurship promotion and employment generation efforts by establishing 1,000 jewelry retail franchise units, providing opportunities for trained goldsmith entrepreneurs in rural and semi-urban areas, and combining the trust of an established brand with modern digital selling tools.