Latest news with #BalramGarg
Economic Times
04-08-2025
- Business
- Economic Times
PC Jeweller shares rally 6% after management signals debt-free roadmap by FY26-end
Rs 1,800 crore equity infusion planned Live Events Improved financial performance in Q1 (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of PC Jeweller climbed as much as 6.1% on Monday to Rs 15.94 on the BSE after Managing Director Balram Garg said the company had reduced its net debt by 19% in the past four months and would become debt-free by the end of the current financial year."We have repaid bank loans worth Rs 335 crore during the April-July period of this fiscal year," Garg told PTI, adding that the company's net debt had fallen to Rs 1,445 crore at the end of July, down from Rs 1,780 crore at the start of FY26. The company is repaying its loans using internal accruals as well as funds raised from promoters and investors "We will become debt-free by the end of this fiscal year," Garg Jeweller had indicated in its investor presentation that it had reduced its outstanding bank debt by more than 50% in FY25 under a settlement agreement with its financial institutions. According to the company, the debt was further trimmed by 8.7% during the June quarter of FY26 and by another 10.1% in July further accelerate deleveraging, PC Jeweller's board in July approved a proposal to raise Rs 500 crore from promoters and Capital Ventures Pvt Ltd. Additionally, the company is set to receive Rs 1,300 crore from the conversion of warrants into equity shares by promoters and total Rs 1,800 crore infusion is intended to help the company clear its outstanding debt Jeweller also reported a 4% year-on-year rise in consolidated net profit to Rs 161.93 crore for the quarter ended June 2025, compared with Rs 156.06 crore in the year-ago period. Revenue surged to Rs 807.88 crore during the quarter, up from Rs 439.78 crore in the corresponding period last year, the company said in a regulatory company, which operates 52 showrooms across major Indian cities, 49 of which are company-owned, has been focusing on consolidating operations and enhancing told PTI that the Indian jewellery market is increasingly shifting towards organised players, supported by government initiatives such as mandatory hallmarking. "The hallmarking scheme ... has ensured the quality of the products for consumers," he said.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
04-08-2025
- Business
- Time of India
PC Jeweller shares rally 6% after management signals debt-free roadmap by FY26-end
Shares of PC Jeweller climbed as much as 6.1% on Monday to Rs 15.94 on the BSE after Managing Director Balram Garg said the company had reduced its net debt by 19% in the past four months and would become debt-free by the end of the current financial year. "We have repaid bank loans worth Rs 335 crore during the April-July period of this fiscal year," Garg told PTI, adding that the company's net debt had fallen to Rs 1,445 crore at the end of July, down from Rs 1,780 crore at the start of FY26. The company is repaying its loans using internal accruals as well as funds raised from promoters and investors . Explore courses from Top Institutes in Please select course: Select a Course Category Public Policy Product Management Degree Data Science Project Management Artificial Intelligence healthcare others Cybersecurity PGDM Design Thinking Management Technology Digital Marketing Healthcare Finance Leadership Data Science Operations Management CXO MCA Data Analytics MBA Others Skills you'll gain: Duration: 12 Months IIM Calcutta Executive Programme in Public Policy and Management Starts on undefined Get Details Skills you'll gain: Economics for Public Policy Making Quantitative Techniques Public & Project Finance Law, Health & Urban Development Policy Duration: 12 Months IIM Kozhikode Professional Certificate Programme in Public Policy Management Starts on Mar 3, 2024 Get Details "We will become debt-free by the end of this fiscal year," Garg said. PC Jeweller had indicated in its investor presentation that it had reduced its outstanding bank debt by more than 50% in FY25 under a settlement agreement with its financial institutions. According to the company, the debt was further trimmed by 8.7% during the June quarter of FY26 and by another 10.1% in July 2025. Rs 1,800 crore equity infusion planned Live Events To further accelerate deleveraging, PC Jeweller's board in July approved a proposal to raise Rs 500 crore from promoters and Capital Ventures Pvt Ltd. Additionally, the company is set to receive Rs 1,300 crore from the conversion of warrants into equity shares by promoters and investors. The total Rs 1,800 crore infusion is intended to help the company clear its outstanding debt completely. Improved financial performance in Q1 PC Jeweller also reported a 4% year-on-year rise in consolidated net profit to Rs 161.93 crore for the quarter ended June 2025, compared with Rs 156.06 crore in the year-ago period. Revenue surged to Rs 807.88 crore during the quarter, up from Rs 439.78 crore in the corresponding period last year, the company said in a regulatory filing. The company, which operates 52 showrooms across major Indian cities, 49 of which are company-owned, has been focusing on consolidating operations and enhancing transparency. Garg told PTI that the Indian jewellery market is increasingly shifting towards organised players, supported by government initiatives such as mandatory hallmarking. "The hallmarking scheme ... has ensured the quality of the products for consumers," he said. Also read | NSE reaches Rs 40 crore settlement with Sebi over data disclosure case ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Mint
26-07-2025
- Business
- Mint
850% rally in five years! Multibagger penny stock to be in focus on Monday; here's why
Multibagger penny stock: PC Jeweller shares are one of the multibagger stocks the Indian stock market has delivered in recent years. The penny stock priced below ₹ 15 is expected to be in focus on Monday as the company board has approved allotment of warrants through the preferential route on a private placement basis. On Friday, the company board formed about the allotment of these warrants in an exchange filing. The warrants have been allotted to one promoter and eleven non-promoters. The only promoter who has been allotted warrants is Balram Garg (HUF). The jewellery brand informed the Indian stock market exchanges about the move saying, "..... we would like to inform further that the Board of Directors of the Company vide a resolution passed by Circulation on July 25, 2025 has allotted 34,67,82,850 (Thirty Four Crore Sixty Seven Lakh Eighty Two Thousand Eight Hundred Fifty) equity shares of face value of Re 1/- (Rupee One Only) each, on conversion of 3,46,78,285 (Three Crore Forty Six Lakh Seventy Eight Thousand Two Hundred Eighty Five) Warrants, to 12 Allottees belonging to 'Promoter Group' and Non-Promoter, Public Category', after adjusting the number of shares, paid-up value per share and premium per share post sub-division / split of face value of equity shares of the Company from 1 equity share of ₹ 10/- each to 10 equity shares of ₹ 1/- each w.e.f. December 16, 2024, upon receipt of the balance amount aggregating to ₹ 146,16,89,712.75 (Rupees One Hundred Forty Six Crore Sixteen Lakh Eighty Nine Thousand Seven Hundred Twelve and Paise Seventy Five Only) at the rate of ₹ 42.15 (Rupees Forty Two and Paise Fifteen Only) per Warrant (being 75% of the Issue Price per Warrant) pursuant to the exercise of their rights of conversion of Warrants into equity shares in accordance with the provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The newly allotted equity shares shall rank pari-passu with the existing equity shares of the Company." In one month, PC Jeweller's share price has ascended 20 per cent, whereas in the last six months, this penny stock has delivered just 8 per cent returns. In YTD time, this multibagger penny stock has generated zero returns by logging a decline of around 10 per cent. However, in one year, PC Jeweller's share price has ascended 70 per cent, while in the last five years, this multibagger penny stock has risen nearly 850 per cent. The multibagger penny stock is available for trade on both the NSE and the BSE. It ended on Friday with a trade volume of nearly 4.96 crore and a market cap of ₹ 9,567 crore. Its 52-week low is ₹ 8.20 apiece, and its 52-week high is ₹ 19.65 per share on the NSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
India.com
11-07-2025
- Business
- India.com
THIS company's board approves plans to raise Rs 500 cr equity from Capital Ventures, promoter
25 महीने में करोड़पति बन गए निवेशक New Delhi: PC Jeweller Ltd's board has approved a plan to raise Rs 500 crore equity from promoters and Capital Ventures Pvt Ltd to prepay its loan, as part of its plan to become debt free by the end of this fiscal. Delhi-based PC Jeweller has a total of 52 showrooms, of which 49 are company-owned. In a regulatory filing on Thursday, the company informed that the board approved raising of funds up to Rs 500 crore by way of preferential allotment on private placement basis. The board approved issuing and allotting up to 9. 72 crore fully convertible warrants convertible into equivalent number of fully paid-up equity shares of the company to the promoter Balram Garg at an issue price of Rs 18 per Warrant. Garg will infuse up to Rs 175 crore in the company. The board also approved issuing and allotting up to 18. 05 crore shares to the person belonging to 'Non-Promoter, Public Category', by way of preferential allotment on private placement basis, at Rs 18 per share, for an amount aggregating up to Rs 325 crore. MD Balram Garg Statement: The company will take approvals from shareholders through postal ballot. 'We will use this amount to prepay the debt. We are progressing on the path of becoming debt free by March next year,' the company's MD Balram Garg told PTI. PC Jeweller reduced bank loans by more than half to Rs 1,775 crore during the last fiscal year. In September 2024, PC Jeweller executed a settlement agreement with a consortium of 14 banks led by SBI to clear its outstanding loan, which stood at nearly Rs 4,100 crore as of March 31, 3024. Helped by the loan settlement, PC Jeweller posted a consolidated net profit of Rs 577. 70 crore last fiscal. In the 2023-24 fiscal, the company had clocked a net loss of Rs 629. 36 crore. Its total income jumped to Rs 2,371. 87 crore in 2024-25 from Rs 669. 87 crore in the preceding year. PC Jeweller Revenue: On July 4, PC Jeweller Ltd reported around 80 per cent growth in revenue during the April-June quarter of this financial year on strong demand despite volatility in gold prices and said it will become debt free this fiscal. The company said it witnessed high demand for its products, as consumers purchased jewellery for weddings and festivals. PC Jeweller also expressed confidence of becoming debt free in the current fiscal. 'For achieving its target, the company has further reduced its outstanding debts towards its bankers by another approximately 7. 50 per cent during the June quarter,' the company said.
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Business Standard
10-07-2025
- Business
- Business Standard
PC Jeweller to raise ₹500 crore via preferential issue to repay debt
PC Jeweller's board on Thursday approved plans to raise nearly ₹500 crore through preferential allotment of equity securities to promoter and non-promoter investors, as part of its strategy to eliminate debt. 'We will use this amount to prepay the debt. We are progressing on the path of becoming debt-free by March next year,' Managing Director Balram Garg told news agency PTI. In a filing to the Bombay Stock Exchange (BSE), the Delhi-based jewellery firm said it will issue up to 9.72 crore fully convertible warrants to promoter Balram Garg at an issue price of ₹18 per warrant, totalling ₹174.99 crore. The board also approved issuing up to 18.05 crore equity shares to a non-promoter investor — identified in filings as Capital Ventures Pvt Ltd — at the same price, amounting to ₹324.99 crore. Both tranches will be issued by way of preferential allotment on a private placement basis, subject to shareholder approval and other regulatory clearances. The board further approved increasing the company's authorised share capital from ₹1,260 crore to ₹1,310 crore, comprising an additional 50 crore equity shares, the filing stated. The fresh infusion and ongoing loan repayments form part of PC Jeweller's broader debt-reduction strategy. In the last financial year, the company reduced its bank borrowings by over 50 per cent to ₹1,775 crore, according to PTI. In September 2024, PC Jeweller signed a settlement agreement with a consortium of 14 banks — led by the State Bank of India — to resolve outstanding dues of approximately ₹4,100 crore as of March 2024, the report added. Following the settlement, the company reported a consolidated net profit of ₹577.7 crore in FY25, reversing a net loss of ₹629.36 crore in the previous fiscal. Revenue also rose sharply to ₹2,371.87 crore from ₹669.87 crore year-on-year. Shares of PC Jeweller closed at ₹18.74 on the BSE on Thursday.
