Consolidated Financial Performance Q1 FY27 vs Q1 FY26 (YoY)

Certification Volumes and Revenue:

  • Total certification volumes reached 3.56 million reports, representing 17% YoY growth from 3.03 million reports in Q1 FY26
  • Certification revenues grew 23% YoY to INR 3,598 million from INR 2,921 million
  • Average Realized Price (ARP) per report increased 5% YoY to INR 1,010 from INR 963

Segment-wise Revenue Breakdown (YoY):

  • Natural Diamonds (ND): INR 504 million (+6% YoY) - 14% of mix (vs 16% in Q1 FY26)
  • Lab-Grown Diamonds (LGD): INR 2,095 million (+25% YoY) - 58% of mix (stable)
  • ND Jewelry: INR 514 million (+2% YoY) - 14% of mix (vs 17%)
  • LGD Jewelry: INR 281 million (+44% YoY) - 8% of mix (vs 7%)
  • Gemstones & other certification: INR 204 million (+203% YoY) - 6% of mix (vs 2%)
  • Other operating income: INR 110 million (+25% YoY)

Profitability Metrics:

  • Revenue from Operations: INR 3,708 million (+23% YoY)
  • Total Revenues: INR 3,866 million (+23% YoY)
  • EBITDA: INR 2,238 million (+29% YoY) with margin at 60.4% (vs 57.7% in Q1 FY26, +270 bps)
  • PBT: INR 2,228 million (+27% YoY) with margin at 60% (vs 58%)
  • PAT: INR 1,657 million (+31% YoY) with margin at 44.7% (vs 42.1%, +260 bps)

Expense Breakdown:

  • Employee Benefit Expenses: INR 827 million (+16% YoY)
  • Finance Costs: INR 29 million (+24% YoY)
  • D&A Expenses: INR 139 million (+41% YoY)
  • Other Expenses + Purchase & Stock in trade: INR 643 million (+15% YoY)
  • Total Expenses: INR 1,638 million (+17% YoY)

Consolidated Financial Performance Q1 FY27 vs Q4 FY26 (QoQ)

Quarterly Comparison:

  • Certification volumes: 3.56 million reports (-2% QoQ from 3.64 million)
  • Certification revenues: INR 3,598 million (broadly stable vs INR 3,587 million)
  • ARP: INR 1,010 (+2% QoQ from INR 987)
  • Total Revenues: INR 3,866 million (flat vs INR 3,868 million)

Profitability QoQ:

  • EBITDA: INR 2,238 million (-5% QoQ) with margin at 60.4% (vs 64.0%)
  • PAT: INR 1,657 million (-8% QoQ) with margin at 44.7% (vs 48.7%)

Standalone Financial Performance (IGI India)

Q1 FY27 vs Q1 FY26 (YoY):

  • Certification volumes: 3.21 million reports (+21% YoY from 2.66 million)
  • Certification revenues: INR 2,792 million (+22% YoY from INR 2,293 million)
  • ARP: INR 870 (+1% YoY from INR 861)
  • PAT: INR 1,546 million (+12% YoY) with margin at 54.0% (vs 58.7%, -470 bps)
  • EBITDA: INR 1,970 million (+15% YoY) with margin at 68.8% (vs 73.0%, -420 bps)

Q1 FY27 vs Q4 FY26 (QoQ):

  • Certification volumes: 3.21 million reports (-2% QoQ)
  • Certification revenues: INR 2,792 million (-5% QoQ from INR 2,939 million)
  • ARP: INR 870 (-3% QoQ from INR 895)
  • PAT: INR 1,546 million (-11% QoQ) with margin at 54.0% (vs 58.8%)
  • EBITDA: INR 1,970 million (-10% QoQ) with margin at 68.8% (vs 74.2%)

Industry Context and Market Position

The presentation highlights strong demand and supply trends in both natural and lab-grown diamond value pools, with IGI positioned to unlock growth in both segments. The LGD market shows strong growth outlook with significant investment in reactors over the last 2 years and planned capacity scale up in 2026.

Shareholding Pattern (as of June 30, 2026)

  • Promoter (Blackstone): 76.55%
  • Top DIIs (Banks, MFs, AIFs and Insurance): 5.51%
  • Top FPIs/FIIs: 9.49%
  • Key institutional investors include ICICI Prudential Asset Mgmt (1.95%), Government of Singapore (1.32%), and Abu Dhabi Investment Authority - Monsoon (1.30%)

Additional Information

The presentation includes forward-looking statements subject to known and unknown risks, uncertainties and assumptions. The information has been made available on the company's website at www.igi.org.

Investor Relations Contacts:

  • IR Advisors: MUFG Intime India Private Limited (Sumeet Khaitan, Nikunj Seth)