PC Jeweller Ltd, a prominent name in India’s jewellery market, is planning a 1:10 stock split to improve liquidity and make its shares more affordable for retail investors. The record date for this split is Monday, December 16, 2024, after shareholders approved it via postal ballot on November 21, 2024.
What the Stock Split Means
The company will divide each ₹10 equity share into ten shares, each with a face value of ₹1. This move will increase the total number of shares available, encouraging more trading and making the shares accessible to smaller investors.
In an official statement, PC Jeweller confirmed that the board finalized the record date on November 28, 2024. The company disclosed this decision in an exchange filing.
About PC Jeweller Ltd
PC Jeweller, known for offering gold, platinum, diamond, and silver jewellery, operates brands like Azva, Swarn Dharohar, and LoveGold. With a market capitalization exceeding ₹7,900 crore, the company has maintained strong performance in the market.
Financial Highlights
PC Jeweller’s recent financial performance shows significant improvement:
- Quarterly Results (Q2FY25): Net sales rose 12.4% to ₹504.97 crore compared to Q2FY24, while net profit hit ₹178.88 crore, a turnaround from a net loss of ₹138.13 crore in Q2FY24.
- Half-Yearly Results (H1FY25): Net sales jumped 75.3% to ₹906.12 crore, and net profit reached ₹334.94 crore, a sharp recovery from a net loss of ₹309.75 crore in H1FY24.
These results demonstrate the company’s strong recovery and growth momentum.
Share Allotment Update
In a separate development, PC Jeweller recently issued 39,87,900 equity shares to promoters and non-promoters after converting fully convertible warrants. This move brought in ₹16.8 crore and increased the company’s paid-up equity share capital to ₹540.08 crore.
Investor Perspective
Life Insurance Corporation of India (LIC) holds a 1.26% stake in PC Jeweller, highlighting institutional trust in the company. The upcoming stock split will likely attract more retail investors, allowing them to participate in the company’s growth.
PC Jeweller’s decision to split its stock showcases its dedication to increasing shareholder value and making the market more accessible to smaller investors.
Disclaimer: This article is for informational purposes only and should not be considered investment advice.
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