MarketFriction

PC Jeweller Ltd

NSE PCJEWELLER · BSE 534809 · Gems, Jewellery And Watches
₹12.82 -2.88%
NSE close2026-10-01
52 week range7.47 - 14.86
Market cap₹12,976 Cr.
P/E16.7
Microcap 250 ASM short-term Price band 20% Delivery 26.8%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales4494048401505639699725825875927877
Expenses50311350350419527554598647674763635
Operating Profit-54-73-25286112145127178202164242
OPM %-12%-182%-3.3%13%17%18%21%18%22%23%18%28%
Other Income453113944441837024192
Interest124126130223454236302514
Depreciation554445555555
Profit before tax-137-201-1248512314896164206190154225
Tax %1%-1%-2%-84%-45%0%2%1%-2%0%0%1%
Net Profit-138-198-12215617914895162210190153222
EPS in Rs-0.30-0.43-0.260.340.380.250.150.250.290.260.180.23
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales7,3018,4649,6108,6725,2062,8251,6052,4726042,2443,3523,505
Expenses6,5437,6998,6208,3744,7492,4101,6962,2167741,8482,6802,720
Operating Profit758765990298457415-91256-170396673785
OPM %10%9%10%3.4%9%15%-6%10%-28%18%20%22%
Other Income5097927780245316364126196115
Interest25128632435437439644249950552134105
Depreciation232221193735282720182121
Profit before tax53455473721258-508-108-632453713775
Tax %25%24%27%70%34%-694%-23%88%-0%-28%-0%
Net Profit39842153618362-391-203-629578714774
EPS in Rs1.111.181.360.000.210.13-0.84-0.44-1.350.910.830.96
Dividend Payout %15%4%4%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth-7%3%11%36%
Compounded Profit Growth6%63%77%33%
Stock Price CAGR-6%38%72%7%
Return on Equity3%0%4%10%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital179179179394395395465465465465636865
Reserves1,8112,2303,1733,4873,5263,6083,8043,4233,2252,4665,5577,309
Borrowings6829708031,1162,1212,4292,4143,3913,7364,1502,1511,167
Other Liabilities2,0522,3713,2423,9871,6081,4651,2142662091886884
Total Liabilities4,7245,7517,3978,9847,6497,8977,8987,5457,6367,2698,4129,425
Fixed Assets9091889374169139121115719496
CWIP000111001000
Investments138919881532300
Other Assets4,6215,6527,2998,8727,5667,7207,7447,4217,5187,1968,3189,328
Total Assets4,7245,7517,3978,9847,6497,8977,8987,5457,6367,2698,4129,425
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity33316794358-1,9317691-71910064-633-77
Cash from Investing Activity213-25-530-378978389411530723
Cash from Financing Activity-5651647-4652-170-156570-111-108688147
Net Cash Flow-197312-24-302-5730-3419-375772
Free Cash Flow30413775328-1,9407491-7239766-633-77
CFO/OP63%21%128%50%-641%18%18%812%36%-38%-168%-12%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days454966708413218565631105769
Inventory Days2192252062322274349541,4651,0123,0441,3731,015
Days Payable123126147160578715043732
Cash Conversion Cycle1401471251422534799881,5261,0723,1471,4281,082
Working Capital Days87988782146255508554355954796755
ROCE %28%26%22%23%7%8%6%-1%5%-2%7%10%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters54.53%54.53%54.53%54.53%54.53%43.52%39.98%40.08%37.61%37.19%40.72%38.50%
FIIs0.84%0.78%0.93%2.57%3.31%5.55%5.06%4.92%6.46%6.31%10.40%12.15%
DIIs1.49%1.45%1.45%1.45%1.47%1.26%9.37%9.07%8.23%7.08%5.42%4.31%
Public43.15%43.24%43.08%41.45%40.69%49.66%45.59%45.93%47.70%49.44%43.46%45.03%
No. of Shareholders2,25,9162,30,3522,10,4002,09,5392,59,2314,12,0904,61,2104,76,6587,57,3408,36,2388,33,1448,69,669

Fundamentals

Market Cap₹ 12,976 Cr.
Current Price₹ 13.2
Stock P/E16.7
Book Value₹ 9.45
ROCE9.60 %
ROE9.96 %
Dividend Yield0.00 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)36%
Compounded Profit Growth (TTM)33%
Consolidated figures.
Valuation
Market capRs 11,088 Cr
Enterprise valueRs 12,118 Cr
P/E (TTM)14.32x
Price to book1.36x
Price to sales3.16x
EV / EBITDA13.45x
EV / EBIT13.78x
EV / sales3.46x
Earnings yield6.98%
P/E, 3-year average11.77x
P/B, 3-year average0.74x
P/E, 5-year average11.77x
P/B, 5-year average0.46x
Profitability
Operating margin (excl. other income)20.07%
Operating margin (incl. other income)25.90%
EBITDA margin25.70%
Pre-tax margin22.10%
Net profit margin22.09%
Net margin, latest quarter25.30%
ROE9.95%
ROCE9.58%
ROA8.01%
ROE, 3-year average1.20%
ROCE, 3-year average4.79%
ROA, 3-year average2.31%
ROE, 5-year average-2.27%
ROCE, 5-year average3.75%
ROA, 5-year average-0.16%
ROIC (approx.)9.57%
Tax rate-0.14%
Other income / net worth2.39%
Growth
Sales growth (latest year)49.39%
Profit growth (latest year)23.67%
Sales CAGR, 3 years10.70%
Sales CAGR, 5 years3.48%
Profit CAGR, 5 years63.05%
Sales growth QoQ-5.42%
Profit growth QoQ45.12%
Sales growth YoY (latest quarter)20.99%
Profit growth YoY (latest quarter)37.02%
Per share
EPS (TTM)Rs 0.90
EPS (latest year)Rs 0.83
EPS (latest quarter)Rs 0.26
EPS, 3-year averageRs -3.93
EPS, 5-year averageRs -4.91
Book value per shareRs 9.45
Sales per shareRs 4.05
Cash flow per shareRs -0.09
Free cash flow per shareRs -0.09
Efficiency
Asset turnover0.36x
Fixed asset turnover34.82x
Inventory turnover0.36x
Inventory days1012 days
Debtor days69 days
Debtors turnover5.27x
Creditor days2 days
Cash conversion cycle1082 days
Working capital days755 days
Leverage
Total debtRs 1,167 Cr
Cash and bankRs 136 Cr
Net debtRs 1,030 Cr
Debt to equity0.14x
Net debt / EBITDA1.14x
Interest coverage8.39x
Current ratio (filing 2026-03-31)7.05x
Quick ratio (filing 2026-03-31)0.88x
Trade payables (filing 2026-03-31)Rs 16 Cr
Owners' fund to total sources86.73%
Debt to assets12.38%
Cash flow
Cash from Operating Activity (latest year)Rs -77 Cr
Cash from Investing Activity (latest year)Rs 3 Cr
Cash from Financing Activity (latest year)Rs 147 Cr
Net Cash Flow (latest year)Rs 72 Cr
Free cash flow (latest year)Rs -77 Cr
FCFE (approx.: FCF + change in debt)Rs -1,062 Cr
Cash from ops / profit, 5 years-18.33x
Statement figures
Net sales (TTM)Rs 3,505 Cr
Net sales (latest year)Rs 3,352 Cr
Sales (latest quarter)Rs 877 Cr
Operating profit excl. other income (latest year)Rs 673 Cr
Operating profit (latest quarter)Rs 242 Cr
Other income (TTM)Rs 115 Cr
EBITDA (TTM)Rs 901 Cr
PBDT (TTM)Rs 796 Cr
Profit before tax (TTM)Rs 775 Cr
Tax (latest year)Rs -1 Cr
Net profit (TTM)Rs 774 Cr
Net profit (latest year)Rs 714 Cr
Net profit (latest quarter)Rs 222 Cr
Depreciation (TTM)Rs 21 Cr
Depreciation (latest quarter)Rs 5 Cr
Interest (TTM)Rs 105 Cr
Cost of goods sold (latest year)Rs 2,603 Cr
Total expenditure (latest year)Rs 2,680 Cr
Total income (latest year)Rs 3,548 Cr
Share capitalRs 865 Cr
ReservesRs 7,309 Cr
Shareholders' fundsRs 8,174 Cr
Total assetsRs 9,425 Cr
Net blockRs 96 Cr
Capital work in progressRs 0 Cr
InvestmentsRs 0 Cr
ReceivablesRs 636 Cr
InventoryRs 7,214 Cr
Other liabilitiesRs 84 Cr
Shares outstanding (crore)864.86
Ownership
Promoter holding38.50% (-1.58 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 14.3 is at the 26th percentile of its own 5.8-year range (median 22.1, low 9.4, high 99.7).
P/B 1.36 is at the 56th percentile (median 1.26).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodPCJEWELLERNifty 50Difference
1 week-10.0%-2.8% -7.3 pts
1 month+24.2%-6.8% +31.0 pts
3 months+24.5%-7.6% +32.1 pts
6 months+69.4%+0.4% +68.9 pts
1 year-4.6%-9.9% +5.3 pts
2 years-12.4%-13.6% +1.1 pts
3 years+389.3%+14.2% +375.1 pts
5 years+385.6%+27.9% +357.7 pts
6 mutual fund schemes hold about ₹13 Cr. Over three months 5 bought more and 0 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Motilal Oswal Nifty Microcap 250 Index Fund0.52%13 +25%
Groww Nifty Total Market Index Fund0.02%0 +29%
Angel One Nifty Total Market Index Fund0.02%0 +29%
Mirae Asset Nifty Total Market Index Fund0.02%0 +29%
Bandhan Nifty Total Market Index Fund0.02%0 +29%
Motilal Oswal BSE 1000 Index Fund0.02%0 +2%

Red flags

F-score 5 of 8
explainWeak cash conversion Cash from operations was -98% of net profit over the last 3 years
explainReceivables outrunning sales Receivables grew 81% vs sales +49% in 2026
explainShare dilution Share count up 36% in a year, 86% in three
lookOn NSE surveillance On NSE surveillance: ASM short-term
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2026-09-24BALRAM GARGPromoter groupbuy55,622,222SAST Preferential Allotm
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹877 Cr +21.0% vs Jun 2025. Net profit ₹222 Cr +37.0%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-12-16Face Value Split (Sub-Division) - From Rs 10/- Per Share To Re 1/- Per Share0.1000
2018-09-19 Annual General Meeting/Dividend Re 0.50 Per Share
2017-07-06 Bonus 1:10.5000
2017-06-21 Dividend - Re 1/- Per Share
2016-09-09 Annual General Meeting/Dividend - Rs 3.35 Per Share
2015-09-10 Annual General Meeting/ Dividend - Rs 3.20/- Per Share
2014-09-04Annual General Meeting / Dividend - Rs 1.50/- Per Share
2014-01-30Interim Dividend - Rs 1.50/- Per Share
2013-09-06Annual General Meeting And Dividend Re.1/- Per Share
DateTypeWhat it says
2026-10-01ResignationResignation of Director/KMP/SMP
2026-10-01Shareholder meetingVoting results.
2026-09-30Shareholder meetingProceedings of Annual General Meeting held on September 30, 2026
2026-09-30Change in ManagementChange in Management
2026-09-30Director changeChange in Director(s) of the company.
2026-09-30Board meeting outcomeOutcome of Board Meeting held on September 30, 2026.
2026-09-30Disclosure of material issuePC Jeweller Limited has informed regarding Disclosure of material issue
2026-09-25Disclosure of material issuePC Jeweller Limited has informed regarding Disclosure of material issue
2026-09-24Disclosure of material issuePC Jeweller Limited has informed regarding Disclosure of material issue
2026-09-23Disclosure of material issuePC Jeweller Limited has informed regarding Disclosure of material issue
2026-09-23Disclosure of material issuePC Jeweller Limited has informed regarding Disclosure of material issue
2026-09-22Disclosure of material issuePC Jeweller Limited has informed regarding Disclosure of material issue
2026-09-22Disclosure of material issuePC Jeweller Limited has informed regarding Disclosure of material issue
2026-09-10Disclosure of material issuePC Jeweller Limited has informed regarding Disclosure of material issue
2026-09-08Disclosure of material issuePC Jeweller Limited has informed regarding Disclosure of material issue
2026-09-07UpdatesBRSR Report 2025-26.
2026-09-07General UpdatesGeneral Updates
2026-09-07Shareholder meetingNotice of Annual General Meeting to be held on September 30, 2026
2026-09-03Disclosure of material issuePC Jeweller Limited has informed regarding Disclosure of material issue
2026-08-24Amendment to AOA/MOAThe Amendment to AOA/MOA of the company.
2026-08-24Shareholder meetingVoting results.
2026-08-18Disclosure of material issuePC Jeweller Limited has informed regarding Disclosure of material issue
2026-08-10Monitoring Agency ReportMonitoring Agency Reports for the quarter ended June 30, 2026
2026-08-10Statement of deviation(s) orStatement of deviation(s) or variation(s) under Reg. 32
2026-08-10General UpdatesGeneral Updates
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Trade dateShares sold short
2026-09-281
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Short Term Additional Surveillance Measure (Short Term ASM): stage 1
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03