International Gemological Institute Limited (IGI) announced its financial results for the second quarter and first half of FY27, showcasing record-breaking performance. The company reported its highest ever volumes, revenue, and EBITDA. Q2 FY27 saw revenue grow 31% year-on-year to INR 3,980 million, with EBITDA increasing 39% to INR 2,445 million and PAT rising 43% to INR 1,858 million.
IGI Reports Record Financial Performance for Q2 and H1 FY27
International Gemological Institute Limited (IGI) has announced a period of exceptional growth, with its second quarter and first half of FY27 results marking new historical highs across key financial and operational metrics. The company highlighted its highest ever volumes, revenue, EBITDA, and profits.
Q2 FY27 Financial Highlights
For the second quarter of FY27, IGI reported a total revenue from operations of INR 3,980 million, representing a substantial 31% year-on-year growth. Certification revenue stood at INR 3,875 million, up 32%. The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) saw a significant increase of 39% to INR 2,445 million, with EBITDA margins improving to 61.4%, a 340 basis points increase year-on-year. Profit After Tax (PAT) grew by 43% to INR 1,858 million.
This strong performance was driven by robust revenue growth across all segments, with Lab-Grown Diamonds (LGD) growing 37%, LGD jewelry by 47%, and gemstones and other certification by 331%. Subsidiary revenue also grew by 49% during the quarter. The Average Realization Price (ARP) for the quarter increased by 4%.
H1 FY27 Performance Summary
The first half of FY27 also demonstrated exceptional growth for the group. Revenue from operations reached INR 7,688 million, a 27% increase year-on-year, fueled by a 22% volume growth. EBITDA grew by 34% to INR 4,683 million, with margins at 60.9%, up 310 basis points. PAT saw a 37% increase, reaching INR 3,516 million.
Revenue growth in H1 was led by LGD loose stones (31%), LGD jewelry (46%), and gemstones and other certification (261%). The acquisition of AGL contributed to 3% of the overall H1 revenue growth. ASP for H1 was reported at INR 945, up 4% year-on-year.
Market Dynamics and Strategic Priorities
Tehmasp Printer, MD and CEO, highlighted the strong market demand, particularly in the lab-grown diamond sector, attributing the growth to increased supply, retail adoption, and consumer interest. He noted that 4.35 million reports were issued in Q2 FY27, a 26% increase year-on-year. The company’s strategic priorities include accelerating natural diamond growth, maintaining leadership in lab-grown diamonds, scaling up gemstone acquisition, continuous brand investment, and leveraging AI for operational effectiveness.
Outlook and Guidance
Given the strong performance in the first half, IGI anticipates outperforming its previously issued guidance for the full year. The company is revising its outlook upwards, expecting to exceed the 15% revenue growth and 20% EBITDA growth targets.
Geographical Expansion
The company continues to expand its global network, with operations initiated in Italy this year and preparations underway for Saudi Arabia. A new company was also established in Botswana in September.
Source: BSE
