International Gemmological Institute (IGI) announced strong Q3 2025 results, featuring a 21% revenue increase and a 20% EBITDA rise year-over-year. The growth was driven by strong performance across all key business segments, including natural diamonds, lab-grown diamonds, jewelry, and gemstones. For the nine months ending September 2025, IGI reported a 15% revenue increase and a 22% EBITDA increase compared to the same period last year.
Q3 2025 Financial Highlights
International Gemmological Institute (IGI) reported strong performance for the quarter ended September 30, 2025, with a 21% increase in revenues and a 20% increase in EBITDA. Consolidated revenue from operations for Q3 2025 reached INR 3,037 Mn, and EBITDA stood at INR 1,763 Mn. PAT for Q3 2025 was reported at INR 1,298 Mn, reflecting an 18% growth year-over-year.
9M 2025 Performance Overview
For the nine months ended September 2025, the company reported a 15% increase in revenues from operations and a 22% increase in EBITDA compared to 9M 2024. EBITDA margins improved from 57% in 9M 2024 to 60% in 9M 2025. The consolidated PAT for 9M 2025 stood at INR 3,971 Mn, marking a 27% increase over 9M 2024.
Key Financial Metrics (INR in MN)
Quarterly Results
| Q3 2024 | Q3 2025 | YOY Growth % | |
|---|---|---|---|
| Revenue | 2,501 | 3,037 | 21% |
| PBT | 1,475 | 1,755 | 19% |
| PAT | 1,096 | 1,298 | 18% |
| EBITDA | 1,472 | 1,763 | 20% |
Year-to-Date Results
| 9M 2024 | 9M 2025 | YOY Growth % | |
|---|---|---|---|
| Revenue | 7,881 | 9,094 | 15% |
| PBT | 4,325 | 5,419 | 25% |
| PAT | 3,135 | 3,971 | 27% |
| EBITDA | 4,475 | 5,454 | 22% |
Management Commentary
Tehmasp Printer, Managing Director and CEO of IGI, stated that the company delivered 26% growth in report volume this quarter, enabling a 21% revenue growth. He also highlighted the company’s ability to deliver strong revenue growth driven by festive demand despite macro-economic challenges. The core segments of natural and lab-grown diamond certification registered over 25% volume growth. IGI remains confident in delivering strong revenue and EBITDA growth for the year.
Industry Outlook
The global diamond and jewelry industry is undergoing transformation, driven by evolving consumer preferences, technological advancements, and increasing demand for certification. The rapid adoption of Lab-Grown Diamonds (LGDs) is a significant trend. IGI’s leadership in independent certification positions it at the forefront of this evolving landscape.
Source: BSE
