 "gold jewellery")
CARE Ratings has downgraded rating for PC Jeweller Ltd’s (PCJ) fixed deposits from “BB+” to “B” on stressed liquidity position and deterioration in the financial flexibility of the company.
There have been instances of overutilization of its fund based and non-fund based limits in the past few months. There has been a continuous decline in market capitalization along with declining cash and bank balance of the Delhi-based Jeweller.
The rating, however, continues to derive strength from experienced promoters of the company having a long track record of operations in the G&J industry.
PCJ has an established brand name for its
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