National News
PC Jeweller Soars 33% in Two Days on Strong Q1 Revenue Growth and Debt Reduction Plans
Standalone revenue jumps 80% YoY in Q1FY26; company targets becoming debt-free by FY26
PC Jeweller Ltd witnessed a sharp rally in its stock price over the past two trading sessions, surging by 33% to touch ₹18.69 on the BSE. The surge followed an upbeat business update for the quarter ended June 30, 2025 (Q1FY26), where the company reported a standout 80% year-on-year increase in standalone revenue.
In Monday’s session alone, the stock advanced 11.8%, reflecting heightened investor optimism on the back of strong operational performance and a clear path toward financial deleveraging.
The company attributed the robust growth to high customer demand during the wedding and festive season, which continued to drive strong sales across key markets. Notably, this surge in revenue came despite considerable volatility in gold prices—showcasing customer resilience and trust in the PC Jeweller brand.
In its official filing, the company described Q1 as “very promising and fulfilling,” highlighting that sustained goodwill and brand equity have enabled it to clock a “robust performance.”
Beyond top-line growth, PC Jeweller also emphasized its focus on strengthening its financial fundamentals. The company has been steadily reducing its outstanding debt, having cut its obligations to bankers by over 50% during FY24–25. In Q1FY26, it further trimmed its debt by another 7.5%, reinforcing its commitment to achieving a debt-free status by the end of FY26.
“The company continues to revamp and strengthen all aspects of its operations, the results of which are clearly visible in its financial performance,” the management noted in a statement. It added that the company remains optimistic about maintaining strong momentum in the upcoming quarters.
PC Jeweller’s strong quarterly update and visible progress on debt reduction have caught the attention of both retail and institutional investors, marking a potential turnaround story for the jewellery brand that has seen significant headwinds in previous years.
As it continues to streamline operations and strengthen its balance sheet, PC Jeweller is positioning itself to capture further growth opportunities in India’s ever-resilient gold and jewellery market.
Silver prices experienced a dramatic single-day surge of RS10,000 on Monday, reaching Rs1.74 lakh per kg. This rally is part of a larger trend that has seen silver prices double in the last 12 months (outperforming gold’s 60% gain).
The price acceleration is primarily attributed to a persistent global supply deficit, increased investment demand, and macroeconomic factors like a weaker US Dollar and rising expectations of interest rate cuts by the US Federal Reserve. Experts predict the supply shortage will continue, providing significant headroom for further price appreciation into 2026.
The spike to Rs1.74 lakh per kg 1.64 lakh per kg was driven by four interconnected factors:
- Supply Squeeze: The most critical driver is the ongoing global silver supply shortage. The total silver production stands at approximately 26,000 tonnes, while the deficit this year is estimated between 6,000 and 7,500 tonnes, one of the largest in recent decades. Global demand has been consistently outstripping supply since 2020, as most silver is mined as a by-product of other metals (gold, lead, zinc), limiting its independent supply growth.
- US Rate Cut Expectations: Rising anticipation that the US Federal Reserve will cut interest rates, likely due to a projected economic slowdown continuing into 2026, is attracting investors back to non-yielding assets like silver and gold.
- Softer US Dollar: A globally weaker US Dollar makes dollar-denominated commodities, including silver, cheaper for holders of other currencies, thus boosting demand.
- Rupee Weakness: The recent weakness of the Indian Rupee against the US Dollar further contributes to the higher price of imported silver in the domestic market.
Investment demand for silver reached a projected 1,751 tonnes in calendar year 2025, reflecting a sharp 350-tonne increase from 2024 levels, as reported by Metals Focus. This surge stemmed from persistent market deficits—marking the seventh consecutive year—with cumulative shortfalls nearing 25,000 tonnes since 2021, fueled by structural supply constraints and accelerating industrial needs. Retail and institutional interest, particularly in Asia and North America, drove inflows into silver-backed ETPs, coins, and bars, amplifying the demand spike amid economic uncertainty.
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