Financial Performance Highlights

Consolidated Financial Results (INR Mn):

  • Revenue from operations: ₹3,708 Mn in Q1 FY27 vs ₹3,009 Mn in Q1 FY26, representing 23% YoY growth
  • EBITDA: ₹2,238 Mn in Q1 FY27 vs ₹1,735 Mn in Q1 FY26, representing 29% YoY growth
  • PBT: ₹2,228 Mn in Q1 FY27 vs ₹1,750 Mn in Q1 FY26, representing 27% YoY growth
  • PAT: ₹1,657 Mn in Q1 FY27 vs ₹1,265 Mn in Q1 FY26, representing 31% YoY growth

Margin Performance:

  • EBITDA Margins: 60% in Q1 FY27, an improvement of 270 bps from 58% in Q1 FY26
  • PAT Margins: 45% in Q1 FY27, an improvement of 260 bps from Q1 FY26

Business Segment Performance

Growth was driven by strong momentum across all key business segments:

  • Loose stones certification
  • Jewelry certification
  • Colored gemstone certification

Management Commentary

Mr. Tehmasp Printer, Managing Director and CEO, stated that IGI commenced FY27 from a position of strength with broad-based momentum across Lab Grown Diamond (LGD) loose stones, LGD jewelry, and colored gemstones. The natural diamond segment remains a key strategic pillar, with continued pursuit of market share through new customer acquisition and deeper engagement with existing clients.

Strategic Initiatives and Expansion

  • Investments in US business are gaining traction
  • Commenced operations in Italy as part of geographic expansion strategy
  • Ongoing evaluation of opportunities for further geographic expansion
  • Investments in IGI brand, teams, artificial intelligence, and automation to enhance service quality and turnaround times
  • These investments position the company to scale efficiently

Industry Trends and Outlook

  • Global diamond and jewelry industry transformation driven by evolving consumer preferences, technological advancements, and increasing demand for certification
  • Rising disposable incomes in India and expanding middle-class fueling market expansion
  • Growing appeal of diamonds as luxury investment
  • Rapid adoption of Lab-Grown Diamonds (LGDs) worldwide due to affordability and sustainability
  • Increasing essentiality of independent certification for ensuring authenticity and quality
  • Demand for certified diamonds, gemstones, and jewelry expanding beyond traditional markets

Company Background

International Gemological Institute Limited (IGI) is a Blackstone-backed company and India's largest independent accreditation and certification services provider with 50% market share. The company operates:

  • 36 laboratories globally
  • 21 Schools of Gemology
  • Presence in 10 countries

Service Offerings

IGI provides:

  • Natural and laboratory-grown diamond reports
  • Colored stone grading and origin reports
  • Jewelry identification and appraisal reports
  • Screening of millions of natural and lab-grown diamonds

Service Delivery Formats

  • IGI Labs
  • In-factory Labs
  • Mobile Labs

Media Contacts

  • IGI India Brand Manager - Marketing: Yashita Tawde (media.relations@igi.org, +91 98925 34180)
  • Public Relations: Belinda Dokras, Director (Belinda.Dokras@dentsu.com, +91 98202 84220)

Investor Relations Contacts

  • IGI India Head, Investor Relations & Public Relations: Ms. Natasha Kedia (investor.relations@igi.org, 022-40352550)
  • MUFG Intime: Nikunj Seth (nikunj.seth@in.mpms.mufg.com, +91 9773397958)