PC Jeweller Ltd
PCJEWELLERPC Jeweller Ltd's earnings have outrun its stock. EPS grew −8.8% in a year against a −42.4% price move.
The sharpest disagreement: profits are rising, but only −46% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch.
The price is in a downtrend (40 weeks in) while the P/E sits at the 42nd percentile of its own 10-year range. Underneath, the last four quarters read improving — profit +61.1% year on year, and −46% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
PC Jeweller Ltd trades at ₹9.7, in a downtrend and 40 weeks into that stage. That is −3.8% against its own 200-day average. It sits at 29% of a 52-week range of ₹8 to ₹14. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (1 week and counting).
Today the stock is in a downtrend — week 40 of stage 4, confirmed. At ₹9.7 it trades −3.8% versus its 200-day average and sits at 29% of its 52-week range (₹8–₹14).
Against the market, two honest reads. Cumulative: over the last 10.3 years the stock moved −46% while the NIFTY 500 moved +274% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (1 week and counting; last ahead the week of 2026-07-10) — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 42nd percentile of its own range.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
PC Jeweller Ltd trades at 12.6× P/E, mid-range by its own standards (42nd percentile). Its long-run median P/E is 15.4×, measured across 10.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 12.6× is mid-range by its own standards (42nd percentile), against a long-run median of 15.4× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
One caveat before moving on: margins are the best this company has ever printed — cheap against its own history on record margins is not the same thing as cheap. If profitability mean-reverts, today's multiple is higher than it looks.
Why the multiple sits where it does: over the past year annual EPS moved −8.8% against a −42.4% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 5y, of the +28.6%/yr price move, ~+44.9%/yr came from earnings growth and ~−16.3 pp from the multiple (compressing); over 10y, of the −6.6%/yr price move, ~−2.1%/yr came from earnings growth and ~−4.5 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
PC Jeweller Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 12 quarters across 2 curves, on partial evidence.
Why it matters: with too little history, an honest page says so instead of guessing a trajectory.
One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.
Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +49.4% | +10.7% | +3.5% | −7.5% |
| Profit | +23.5% | — | +63.0% | +6.0% |
| EPS | −8.8% | — | +44.9% | −2.9% |
| Share price | −42.4% | +41.7% | +28.6% | −6.6% |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
47.4/100 — rank 17 of 26 in Diamond, Gems & Jewellery · 90% evidence confidence
PC Jeweller Ltd scores 47.4 out of 100 against the 26 companies it is compared with in Diamond, Gems & Jewellery, ranking 17. Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
The four contributions add to the total exactly: 14.3 + 11.4 + 16.3 + 5.4 = 47.4. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
PC Jeweller Ltd reported ₹927 Cr of revenue in the Mar 26 quarter, +32.6% year on year. That is the 8th straight quarter of year-on-year growth. Over 10 years it has compounded at −7.5% a year. The last full year, FY26, came in at ₹3,353 Cr. The last four reported quarters add to ₹3,352 Cr.
PC Jeweller Ltd reported ₹927 Cr of revenue in the Mar 26 quarter, +32.6% year on year. That is the 8th straight quarter of year-on-year growth. Over 10 years it has compounded at −7.5% a year. The last full year, FY26, came in at ₹3,353 Cr. The last four reported quarters add to ₹3,352 Cr.
FY26 revenue came in at ₹3,353 Cr (+49.4% on the year), capping 10 years at −7.5% compound. The latest quarter (Mar 26) printed ₹927 Cr, +32.6% year on year — the 8th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +53.4% growth against the decade's −7.5% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +49.4% over the last 4 quarters against +135.4%/yr over the last 8 — rolling over.
→ Revenue grew — did margins hold as it scaled? Next: 18.0% this quarter (−3.0 pp YoY).
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
PC Jeweller Ltd's operating margin is 18.0% in the Mar 26 quarter, −3.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 13 fiscal years the operating margin has ranged −28.0% to 20.0%. The current quarter sits inside that band.
PC Jeweller Ltd's operating margin is 18.0% in the Mar 26 quarter, −3.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 13 fiscal years the operating margin has ranged −28.0% to 20.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 18.0%, −3.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −28.0%–20.0%, and FY26's 20.0% is the top of that band — a record year.
🚨 Why the margin moved: operating margin went −3.0 pp year on year while gross margin went −3.1 pp — the loss came mostly from the gross line: input costs and pricing.
Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.
→ Margins slipped — did that reach the bottom line? Next: profit +61.1% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
PC Jeweller Ltd earned ₹153 Cr of net profit in the Mar 26 quarter, +61.1% year on year. It is the 4th consecutive quarter of growth. Full-year FY26 profit was ₹714 Cr. The 10-year compound rate is 6.0%. That is 16.5% of the quarter's revenue. The same quarter a year earlier earned ₹95.0 Cr.
PC Jeweller Ltd earned ₹153 Cr of net profit in the Mar 26 quarter, +61.1% year on year. It is the 4th consecutive quarter of growth. Full-year FY26 profit was ₹714 Cr. The 10-year compound rate is 6.0%. That is 16.5% of the quarter's revenue. The same quarter a year earlier earned ₹95.0 Cr.
Mar 26 profit was ₹153 Cr, +61.1% year on year — the 4th consecutive quarter of growth. On the full year, FY26 printed ₹714 Cr (+23.5%), and the 10-year compound rate is 6.0%.
Why profit moved: revenue contributed +32.6% and the margin −3.0 pp — the quarter was revenue-led despite a thinner margin.
Pace comparison, last four quarters: profit +27.6% vs revenue +53.4%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.
→ Profit rose — but did the cash follow? Next: −46% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years −46% of PC Jeweller Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹−77.0 Cr of operating cash against ₹714 Cr of profit. After ₹23.0 Cr of capital spending, ₹−100 Cr was left as free cash.
FY26: operating cash of ₹−77.0 Cr against reported profit of ₹714 Cr, leaving free cash of ₹−100 Cr after ₹23.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −46% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
🚨 Why conversion sits at −46%: the cash cycle stretched 94 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving. Less than 70% of profit arriving as cash is the thing to watch on this page.
Router verdict: conversion is below par and the cash cycle has stretched 94 days — the next section's job is to find where the cash is stuck.
→ So follow the cash to where it goes. Next: the 1,082-day cycle, in money terms.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
PC Jeweller Ltd's cash conversion cycle runs 1,082 days in FY26, up from 988 days in FY21. Capital spending ran ₹39.0 Cr over the last 3 years. At FY26 sales of ₹3,353 Cr each day of that cycle holds about ₹9.2 Cr, so roughly ₹9,940 Cr sits inside the business at any moment.
FY26: debtors at 69 days, inventory at 1,015 days — roughly 33.4 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 1,082 days, looser than FY21's 988.
The full loop: cash goes out to suppliers and production on day 0; stock waits 1,015 days to sell; customers pay about 69 days after that; and suppliers themselves are paid at 2 days — netting out to the 1,082-day cycle.
In money terms: at FY26 sales of ₹3,353 Cr, each day of the cycle holds about ₹9.2 Cr — so the 1,082-day loop keeps roughly ₹9,940 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹39.0 Cr over the last 3 fiscal years against ₹59.0 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 10% and the ROIC − WACC spread is −4.7 pp.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
PC Jeweller Ltd earns a ROCE of 10% in FY26. That is up from a trough of −2% in FY24. Return on invested capital clears the cost of that capital by −4.7 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 21.3% net margin on 0.36× asset turns.
FY26 ROCE is 10%, recovered from a FY24 trough of −2% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY26): 21.3% net margin × 0.36× asset turns × 1.15× balance-sheet leverage ≈ 8.8% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 7.3% − 12.0% = a −4.7 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.14.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
PC Jeweller Ltd carries total debt of ₹1,167 Cr against shareholder equity of ₹8,174 Cr as of Mar 26, a debt-to-equity of 0.14 — effectively unlevered. On the annual view that ratio went from 0.87 in FY22 to 0.14 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of ₹1,167 Cr against shareholder equity of ₹8,174 Cr — a debt-to-equity of 0.14. On the annual view, debt-to-equity went from 0.87 (FY22) to 0.14 (FY26). The returns on this page are earned, not borrowed.
→ Who owns this, and are they adding or leaving? Next: Foreign institutions added 6.6 points over 8 quarters.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Foreign institutions added 6.6 points of PC Jeweller Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 12.2% of the company. Promoters moved −5.0 points over the same window, to 38.5%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Foreign institutions: +6.6 points over 8 quarters to 12.2%; Promoters: −5.0 points over 8 quarters to 38.5%; Domestic institutions: +3.0 points over 8 quarters to 4.3%.
Why the register moved: foreign institutions drove it (+6.6 points), absorbed on the other side by promoters (−5.0 points) — steady accumulation by institutions reading the same numbers this page reads.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
PC Jeweller Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| PC Jeweller Ltd this page | 12.6× | ₹9,011 Cr | No read | |||
| Titan Company Ltd | 80.6× | ₹4.2L Cr | Turning around | |||
| Kalyan Jewellers India Ltd | 43.0× | ₹59,233 Cr | Consistent | |||
| Thangamayil Jewellery Ltd | 60.7× | ₹21,467 Cr | Improving | |||
| Bluestone Jewellery & Lifestyle Ltd | 209.0× | ₹11,772 Cr | — | No read | ||
| Sky Gold & Diamonds Ltd | 36.8× | ₹10,124 Cr | Mixed | |||
| P N Gadgil Jewellers Ltd | 21.3× | ₹8,780 Cr | Mixed | |||
| Senco Gold Ltd | 10.9× | ₹6,273 Cr | Turning around | |||
| Vaibhav Global Ltd | 15.7× | ₹4,216 Cr | Improving | |||
| Rajesh Exports Ltd | 20.9× | ₹3,510 Cr | Improving | |||
| D.P. Abhushan Ltd | 74.8× | ₹3,032 Cr | Consistent | |||
| Rajesh Exports Ltd | 23.3× | ₹2,626 Cr | Mixed | |||
| D.P. Abhushan Ltd | 12.3× | ₹2,295 Cr | Consistent | |||
| Shringar House of Mangalsutra Ltd | 18.3× | ₹2,118 Cr | No read | |||
| Khazanchi Jewellers Ltd | 24.0× | ₹1,836 Cr | No read | |||
| Tribhovandas Bhimji Zaveri Ltd | 8.5× | ₹1,728 Cr | No read | |||
| Khazanchi Jewellers Ltd | 18.6× | ₹1,666 Cr | No read | |||
| Motisons Jewellers Ltd | 25.2× | ₹1,612 Cr | Mixed | |||
| Shanti Gold International Ltd | 10.9× | ₹1,523 Cr | No read | |||
| PNGS Reva Diamond Jewellery Limited | 19.9× | ₹1,287 Cr | — | — | — | — |
| Utssav CZ Gold Jewels Ltd | 21.1× | ₹1,248 Cr | No read | |||
| Asian Star Company Ltd | 24.0× | ₹971 Cr | Turning around | |||
| PNGS Gargi Fashion Jewellery Ltd | 25.8× | ₹785 Cr | Mixed | |||
| SJ Corporation Ltd | — | ₹776 Cr | — | — | — | — |
| Manoj Vaibhav Gems N Jewellers Ltd | 6.6× | ₹761 Cr | Topping out | |||
| Radhika Jeweltech Ltd | 10.0× | ₹751 Cr | Consistent | |||
| PNGS Gargi Fashion Jewellery Ltd | 21.8× | ₹685 Cr | Topping out | |||
| RBZ Jewellers Ltd | 10.3× | ₹564 Cr | Mixed | |||
| Uday Jewellery Industries Ltd | 13.7× | ₹491 Cr | Mixed | |||
| Golkunda Diamonds & Jewellery Ltd | 16.0× | ₹195 Cr | Mixed |
Frequently asked questions
What is PC Jeweller Ltd's share price today?
PC Jeweller Ltd trades at ₹9.7, −42.4% over the past year. The company is valued at ₹9,011 Cr. The stock sits at 29% of its 52-week range of ₹8–₹14, −3.8% versus its 200-day average. On the tape, the price is in a downtrend, 40 weeks in. — as of 24 July 2026.
What were PC Jeweller Ltd's latest quarterly results?
PC Jeweller Ltd reported revenue of ₹927 Cr and net profit of ₹153 Cr for the Mar 26 quarter. Revenue rose 32.6% and profit rose 61.1% year on year. Earnings per share were ₹0.18. The operating margin was 18.0%, 3.0 pp lower than a year earlier. — as of 24 July 2026.
What is PC Jeweller Ltd's revenue?
PC Jeweller Ltd reported revenue of ₹927 Cr in the Mar 26 quarter, +32.6% year on year. For the full FY26 fiscal year, revenue was ₹3,353 Cr (+49.4%). Over the last 10 years revenue compounded at −7.5% a year. — as of 24 July 2026.
What is PC Jeweller Ltd's profit?
PC Jeweller Ltd earned ₹153 Cr of net profit in the Mar 26 quarter, +61.1% year on year — the 4th straight quarter of growth. Full-year FY26 profit was ₹714 Cr. The operating margin ran 18.0% in the latest quarter. — as of 24 July 2026.
What is PC Jeweller Ltd's market cap?
PC Jeweller Ltd's market capitalisation is ₹9,011 Cr at a share price of ₹9.7. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is PC Jeweller Ltd's P/E ratio?
PC Jeweller Ltd trades at a P/E of 12.6×, at the 42nd percentile of its own 10-year range, against a long-run median of 15.4×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Does PC Jeweller Ltd pay a dividend?
Not in its latest year — PC Jeweller Ltd's dividend payout was 0% of profit in FY26. It did record a payout in 5 of its last 13 reported fiscal years, so there is a history but no current dividend. This page holds the payout ratio, not a per-share amount. — as of 24 July 2026.
Is PC Jeweller Ltd overvalued?
On its own history, PC Jeweller Ltd looks mid-range against its own history: its P/E of 12.6× sits at the 42nd percentile of its 10-year range (long-run median 15.4×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 24 July 2026.
Is PC Jeweller Ltd growing?
Yes — PC Jeweller Ltd is growing: latest-quarter revenue +32.6% year on year, profit +61.1%, and the margin −3.0 pp at 18.0%. The 10-year compound rates are −7.5% (revenue) and 6.0% (profit). The earnings engine currently reads: improving — as of 24 July 2026.
How is PC Jeweller Ltd performing?
PC Jeweller Ltd is in a downtrend, 40 weeks in. Its latest quarter's revenue rose 32.6% and profit rose 61.1% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 1 week. This describes what the data did, not a rating. — as of 24 July 2026.
Is PC Jeweller Ltd in an uptrend?
No — the price is in a downtrend (week 40 of stage 4), trading −3.8% versus its 200-day average and at 29% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is PC Jeweller Ltd beating the market?
Not lately — on a trailing-13-week view PC Jeweller Ltd is currently behind the NIFTY 500 (1 week and counting; last ahead the week of 2026-07-10), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.3 years the stock moved −46% against the NIFTY 500's +274% — behind the index over the full window. — as of 24 July 2026.
Will PC Jeweller Ltd's share price go up?
This page publishes no price forecast for PC Jeweller Ltd. What it measures instead: the share price is ₹9.7, the price is in a downtrend 40 weeks in. Its P/E of 12.6× sits at the 42nd percentile of its own 10-year range. — as of 24 July 2026.
Who owns PC Jeweller Ltd?
Promoters hold 38.5% of PC Jeweller Ltd, foreign institutions 12.2%, domestic institutions 4.3% and the public 45.0% (latest quarter). The biggest move on the register over the last two years: Foreign institutions added 6.6 points over 8 quarters. — as of 24 July 2026.
Does PC Jeweller Ltd have too much debt?
No — PC Jeweller Ltd's debt-to-equity is 0.14, and operating profit covers the interest bill 5×. FY26 borrowings were ₹1,167 Cr against equity of ₹8,174 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.
What is PC Jeweller Ltd's capex?
PC Jeweller Ltd spent ₹39.0 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹23.0 Cr, with ₹0.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is PC Jeweller Ltd's cash flow?
PC Jeweller Ltd generated ₹−77.0 Cr of operating cash flow in FY26 and ₹−100 Cr of free cash flow after ₹23.0 Cr of capital spending. Reported profit that year was ₹714 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is PC Jeweller Ltd's profit real cash?
Not fully — over the last 3 fiscal years, −46% of PC Jeweller Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹−77.0 Cr against reported profit of ₹714 Cr. The cash then goes mostly into the working-capital cycle. Cash-flow resolution is annual — as of 24 July 2026.
Where is PC Jeweller Ltd in its business cycle?
PC Jeweller Ltd's FY26 operating margin was 20.0%, against a 13-year band of −28.0%–20.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 18.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the PC Jeweller Ltd story?
The sharpest disagreement: profits are rising, but only −46% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is PC Jeweller Ltd a stock worth studying right now?
This is not investment advice. The machine read: PC Jeweller Ltd's earnings have outrun its stock. EPS grew −8.8% in a year against a −42.4% price move. The sharpest open question: whether the cash starts following the profit. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.