PC Jeweller Ltd

Resolutions and outcomes

• Resolution 1, Ordinary: Increase in authorised share capital; MOA capital clause altered; approved (99.96% in favour).
• Resolution 2, Special: Raise funds up to ₹1,000 crore via QIP; approved (99.96% in favour).
• Resolution 3, Ordinary: Re-appoint Balram Garg as Managing Director; term not disclosed; remuneration; approved (98.80% in favour).
• Material impact: Capital structure expanded; funds to be raised; MD appointment confirmed.

Debt Clearance Update

• PC Jeweller Limited clears remaining debt with one more bank under the Sep 30, 2024 settlement.
• Eight of fourteen consortium banks repaid; remaining six banks discharged by over 96%.
• Debt-free status targeted in the current quarter; balance sheet strengthened.

Debt clearance update

• Cleared all outstanding debt under the 30 Sep 2024 Settlement with one additional bank.
• Repayed debt to 8 of 14 consortium banks ahead of scheduled due dates.
• Discharged more than 96% of the remaining debt across the six banks.
• On track to discharge the remaining under 4% of debt this quarter.
• Balance sheet strength expected from debt-free status in the ongoing quarter.
• Signed by Vishan Deo, Executive Director (Finance) & CFO.

Issue Overview

• First issue: preferential warrants; securities: equity warrants.
• Final size revised downward due to undersubscription.
• First issue objectives: debt repayment, working capital, and general corporate purposes.
• Second issue: warrants and equity shares.
• Second issue objectives: debt repayment, working capital, and general corporate purposes.

Utilisation of Proceeds

• First issue utilisation: as disclosed; no deviations.
• Second issue utilisation: no utilisation in the quarter.
• Means of finance: undersubscription caused shortfall; costs not revised.
• Unutilised funds: first issue none; second issue small idle amount held in fixed deposits and monitoring.
• First issue objects completed in the first quarter.
• Second issue objects ongoing: debt repayment and working capital.

Governance and Compliance

• Approvals: statutory and shareholder approvals in place.
• Viability risk: warrant non-exercise and price gap threaten objectives.
• Debt repayments: some banks prepaid; remaining dues to be cleared.
• Conflicts of interest: none disclosed by monitoring agency.
• Other information: no material information beyond the above.

GCP

• First issue GCP usage: for raw material purchases and lease security deposits; board approval obtained.
• Second issue GCP: not applicable.

Utilisation of funds from preferential issue

• Mode of fund raising: Preferential Issue.
• Date of raising funds: April 10, 2026.
• Amount raised: ₹447.60 crore.
• Monitoring agency: CARE Ratings Limited (Applicable).
• Deviation in use of funds: No.
• Status of utilisation: fully utilised; warrant conversions completed.
• Audit Committee comments: None.
• Auditors comments: None.

Q1FY27 Financial Highlights

• Consolidated revenue rose 21% YoY to Rs 877 crore.
• Gross profit rose 81% to Rs 260 crore.
• Operating EBITDA rose 90% to Rs 242 crore.
• Operating PBT rose 176% to Rs 223 crore.
• Operating PAT rose 168% to Rs 213 crore.

Deleveraging Progress

• Fully repaid 7 of 14 consortium banks, ahead of schedule.
• Discharged more than 96% of remaining debt; debt-free status on track.

Capital Raise & Promoter Support

• Rs 2,702.11 crore preferential warrants raised; 93% realized; board approves up to Rs 1,000 crore QIP.

Strategic Partnerships & Mining License

• PCJ Mining SARL licensed for semi-mechanized artisanal gold mining in Chad.
• MoUs with NSDC and CM YUVA for onboarding entrepreneurs under PC Jeweller brand.