- SEBI issued warning letters to PC Jewellers' MD and Compliance Officer for database lapses
- PC Jewellers did not maintain a structured digital database for Q1 FY2025 business update
- Company's trading window was closed from July 1 to August 3, 2025, for designated persons
Market regulator Securities and Exchange Board of India (SEBI) has issued administrative warning letters to PC Jellwer Managing Director Balram Garg and Company Secretary, Compliance Officer Vijay Panwar for non-maintenance of structured digital database linked to the business update given by the company for the quarter ended June 30, 2025.
In an exchange filing on Saturday, October 31, PC Jewellers said, "the Company has not maintained structured digital database in relation to above said business update disclosed to the exchanges on July 03, 2025 but the trading window was closed for designated persons and their immediate relatives from July 01, 2025 till two days after the date of declaration of results for the quarter ended June 30, 2025 on August 01, 2026 i.e. till August 03, 2025."
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The development comes days after the jewellery maker reported a significant improvement in its earnings for the quarter ended on September 30, with consolidated net profit jumping 57.6% year-on-year as revenue rose and operating margins expanded.
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The company's net profit stood at Rs 331 crore in the second quarter of fiscal 2027, against Rs 210 crore in the corresponding period last year. Revenue from operations increased 27.8% to Rs 1,054 crore from Rs 825 crore a year earlier.
Operating performance improved, with earnings before interest, tax, depreciation and amortisation (EBITDA) surging 74.4% to Rs 310 crore from Rs 178 crore in the year-ago quarter. EBITDA margin expanded to 29.4% from 21.5%, indicating an improvement in operating profitability.
PC Jeweller also informed that it had repaid its entire outstanding debt to the consortium of 14 banks on September 29, 2026, ahead of the repayment schedule under its settlement agreement dated September 30, 2024. The company said it now has zero bank borrowings. The lender banks also issued no-objection and no-dues letters, while the related securities, guarantees and undertakings were released following the settlement.
It further expects finance costs to decline significantly from the second half of FY27, which it said should have a positive impact on net profit.
The company plans to roll out up to 100 large-format showrooms across Tier-I, Tier-II and Tier-III cities over the next 12-18 months through a mix of company-owned outlets and an asset-light franchise model.
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