Low PE Jewellery Stock Below Rs 15 Repays Over 96% Bank Debt, Targets Debt-Free Status In Current Quarter

On Friday, shares of PC Jeweller Ltd closed at Rs 9.26 per share, up 1.54 per cent from its previous closing price of Rs 9.12. During the session, the stock touched an Intraday high of Rs 9.32, marking a gain of 2.19 per cent over the previous close. The stock's 52-week high stands at Rs 16.10 per share, while its 52-week low is Rs 7.47 per share.

PC Jeweller Ltd has announced another major milestone in its debt reduction journey, stating that it has successfully processed the repayment of another significant portion of its outstanding Bank debt. The latest repayment comes in continuation of its earlier updates regarding the successful clearance of debt owed to consortium lenders.

According to the company's exchange filing, more than 96 per cent of its outstanding debt to banks has now been successfully processed and repaid. The company added that it intends to discharge the remaining less than 4 per cent of its outstanding bank debt during the current quarter itself, enabling it to achieve a debt-free status.

Earlier, the company had informed investors about the successful repayment of outstanding debt to several consortium banks. With the latest repayment, PC Jeweller continues to make significant progress towards eliminating its bank borrowings ahead of schedule. The company said the repayments are in line with its objective of strengthening its balance sheet and becoming debt-free during the current quarter.

The management stated that the accelerated debt repayment reflects the company's continued focus on improving its financial position under the settlement arrangements with its consortium lenders. By substantially reducing its borrowings, the company aims to enhance its financial flexibility and support its long-term growth strategy.

About PC Jeweller Ltd

PC Jeweller Ltd is engaged in the manufacturing, retailing and export of gold, diamond and silver jewellery. The company offers a wide portfolio of jewellery products, including gold, diamond, precious stone and silver ornaments. It operates a network of branded jewellery showrooms across India while also exporting jewellery products to international markets.

The company has a market cap of over Rs 8,991.96 crore. The stock price has surged over 216.04 per cent in the last 3 years. From its 52-week low of Rs 7.47 per share, the stock has rallied approximately 23.96 per cent.

Disclaimer: The article is for informational purposes only and not investment advice.

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