PC Jeweller Q4 FY26 Results: Revenue Hits ₹927 Crore, PAT Soars 58% — A Turnaround Story in Full Bloom
By Kaushik Brahmakshatriya
Published On 30 May 2026.
PC Jeweller Q4 Results FY26
India’s organised jewellery retail segment has been undergoing a quiet transformation, and PC Jeweller Ltd (NSE: PCJEWELLER) is proving to be one of its most compelling comeback stories. The company’s Q4 FY26 financial results — for the quarter ending March 31, 2026 — delivered a robust performance on the revenue front and meaningful year-on-year profitability growth, even as sequential margin dynamics drew investor attention.
Q4 FY26 Quarterly Performance at a Glance
PC Jeweller reported 33% growth in Q4 FY26 revenue to ₹927.3 crore, while net profit rose 58% to ₹150.3 crore. (Free Press Journal) The quarter’s performance was underpinned by strong domestic jewellery demand and continued improvement in the company’s balance sheet after years of restructuring.
EBITDA for Q4 FY26 stood at ₹180 crore, compared to ₹144 crore in Q4 FY25, marking a growth of 25%, driven by operating leverage and improved cost efficiencies.
| Metric | Q4 FY25 | Q4 FY26 | YoY Change |
| Revenue from Operations | ₹699.0 Cr | ₹927.3 Cr | +32.7% |
| EBITDA | ₹144 Cr | ₹180 Cr | +25.0% |
| Profit Before Tax (PBT) | ₹94.9 Cr | ₹150.7 Cr | +58.8% |
| Net Profit (PAT) | ₹95.1 Cr | ₹150.3 Cr | +58.1% |
| Basic EPS (₹) | ₹0.16 | ₹0.19 | +18.8% |
Sequential Snapshot: Q3 FY26 vs Q4 FY26
While year-on-year numbers were impressive, the sequential story was more nuanced. On a sequential basis, revenue increased 5.9% from ₹875.4 crore reported in Q3 FY26. However, quarterly profit declined from ₹188.3 crore in the preceding quarter due to higher finance costs and year-end expense adjustments.
The PAT margin contracted to 16.49% in Q4 FY26 from 21.72% in Q3 FY26, highlighting the challenges of converting top-line momentum into bottom-line growth.
Q4 FY26 vs Q3 FY26 (Sequential Comparison)
| Metric | Q3 FY26 | Q4 FY26 | QoQ Change |
| Revenue from Operations | ₹875.4 Cr | ₹927.3 Cr | +5.9% |
| Net Profit (PAT) | ₹188.3 Cr | ₹150.3 Cr | -20.2% |
| PAT Margin (%) | 21.72% | 16.49% | -5.23 pp |
| Total Income | ₹900.5 Cr | ₹946.3 Cr | +5.1% |
Full Year FY26 — Annual Performance Comparison
The annual picture paints an unambiguously positive picture of PC Jeweller’s ongoing turnaround.
For the full year FY26, revenues stood at ₹3,353 crore, against ₹2,243 crore in FY25, representing a growth of 49%. The jewellery firm’s operating PAT for FY26 stood at ₹705 crore, compared to ₹392 crore in FY25, marking an increase of 80%, excluding income tax refund and related exceptional items.
FY26 vs FY25 (Annual Comparison)
| Metric | FY25 | FY26 | YoY Change |
| Revenue from Operations | ₹2,243 Cr | ₹3,353 Cr | +49.5% |
| Net Profit (PAT) | ₹575 Cr | ₹711 Cr | +23.7% |
| Operating PAT | ₹392 Cr | ₹705 Cr | +80.0% |
| Total Income | ₹2,372 Cr | ₹3,550 Cr | +49.6% |
Strategic Developments: Beyond the Numbers
PC Jeweller’s Q4 FY26 results were accompanied by several forward-looking announcements that investors should track closely.
The company continues to progress towards its goal of becoming debt-free, having reduced its outstanding debt by more than 90% since the execution of the settlement agreement with banks on 30 September 2024.
Additionally, PC Jeweller executed a Memorandum of Understanding with the National Skill Development Corporation to act as an industry/franchise partner for the gems and jewellery sector, aiming to facilitate the development and onboarding of up to 2 lakh micro entrepreneurs across India over five years under its brand.
Management offered a confident outlook on demand: the company was looking forward to the upcoming summer wedding season and the auspicious occasion of Akshay Tritiya in Q1 FY27, committed to strategically expanding its retail footprint.
Q &A: People Also Ask — PC Jeweller Q4 FY26
Q1. What was PC Jeweller’s net profit in Q4 FY26?
PC Jeweller reported a standalone net profit of ₹150.3 crore in Q4 FY26, reflecting a year-on-year jump of approximately 58% compared to ₹95.1 crore in Q4 FY25.
Q2. How much revenue did PC Jeweller earn in Q4 FY26?
The company’s revenue from operations reached ₹927.3 crore in Q4 FY26, registering 33% year-on-year growth — its highest-ever quarterly revenue figure.
Q3. Why did PC Jeweller’s profit fall sequentially in Q4 FY26?
Despite strong revenue growth, quarterly PAT dropped roughly 20% from Q3 FY26’s ₹188.3 crore due to elevated finance costs and year-end expense recognition, which compressed the PAT margin from 21.72% to 16.49%.
Q4. What is PC Jeweller’s full-year FY26 revenue?
For the full financial year FY26, PC Jeweller’s standalone revenue from operations stood at ₹3,353 crore, up 49% from ₹2,243 crore in FY25 — a landmark annual performance.
Q5. Is PC Jeweller becoming debt-free?
Yes. As of Q4 FY26, PC Jeweller has reduced its outstanding debt by over 90% since its bank settlement agreement signed in September 2024, putting it firmly on the path to becoming debt-free.
Q6. What expansion plans does PC Jeweller have for FY27?
The company plans to open up to 100 large-format franchise showrooms in the next 12–18 months and has partnered with the NSDC to onboard up to 2 lakh micro-entrepreneurs across India under its brand over five years.
Q7. What is PC Jeweller’s EPS for Q4 FY26?
Basic earnings per share for Q4 FY26 stood at ₹0.19, compared to ₹0.16 in the same quarter last year, reflecting improved per-share profitability.
Financial Disclaimer: This blog post is published for informational and educational purposes only. The data presented is sourced from publicly available regulatory filings and news reports. This content does not constitute investment advice. Readers are advised to consult a SEBI-registered financial advisor before making any investment decisions. Past performance is not indicative of future results.
