PC Jeweller Ltd. (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 Jeweller Ltd. 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.