New Delhi [India], April 18: PC Jeweller Limited has announced a significant milestone in its ongoing financial restructuring journey, reporting a further reduction of approximately 10% in its outstanding bank debt under the Joint Settlement Agreement with its consortium lenders. This latest development marks a major step forward in the company's strategy to achieve a debt-free status.
With this reduction, the company has now successfully repaid more than 90% of its total outstanding bank debt since the execution of the settlement agreement. The achievement underscores PC Jeweller's sustained commitment to strengthening its balance sheet and restoring financial stability.
The management highlighted that the accelerated pace of debt repayment reflects improved operational discipline and focused financial management. The company remains optimistic about clearing the remaining debt in the near term, thereby positioning itself for a stronger and more resilient future.
Commenting on the development, the company stated that this progress reaffirms its intent to rebuild stakeholder confidence while enhancing long-term shareholder value. The consistent reduction in liabilities is also expected to improve financial flexibility and support future growth initiatives.
PC Jeweller's steady progress towards becoming debt-free signals a positive turnaround trajectory for the company. As it nears the final phase of its debt resolution plan, the company is poised to focus on core business expansion and operational efficiency.
The company has informed stock exchanges and requested that the update be taken on record.
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