Editor’s Note
IGI India reports strong Q2 growth, with revenue up 16% and EBITDA surging 37%. The institute processed over 3 million reports, driven by significant increases in both lab-grown and natural diamond certifications.
International Gemmological Institute (India) Limited (IGI India) announced robust Q2 financial results. Revenue grew 16% year-on-year, while EBITDA increased 37%. The company processed 3.03 million reports, a 21% volume growth. Lab-grown diamond certification rose 24%, and natural diamond certification increased 14%. For H1, revenue grew 13%, EBITDA 23%, and total volume 24%. IGI India maintains over 50% market share in India and 65% globally in lab-grown diamond certification. The company expects continued growth driven by increasing jewelry certification demand and lab-grown diamond adoption in India.
The company’s consolidated revenue from operations grew by 16% year-on-year, while EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) surged by an impressive 37%. This robust performance underscores IGI India’s strong market position and operational efficiency.
IGI India processed 3.03 million reports in Q2, marking a substantial 21% volume growth compared to the same period last year. The company witnessed growth across various segments:
Lab-grown diamond certification grew by 24%
Natural diamond certification increased by 14%
For the first half of the year, IGI India continued its strong momentum:
Revenue grew by 13%
EBITDA increased by 23%
Total volume rose by 24% to 6.16 million reports
IGI India maintains its position as India’s largest independent certification provider, commanding over 50% market share. Globally, the company holds a 65% market share in lab-grown diamond certification, solidifying its leadership in this rapidly growing segment.
Management expects continued growth momentum driven by increasing demand for jewelry certification and the rising adoption of lab-grown diamonds in India. To support this growth, the company is investing in AI capabilities and digital transformation initiatives aimed at enhancing service delivery and reducing turnaround times.
Metric | Q2 Growth (YoY) | H1 Growth (YoY)
— | — | —
Revenue | 16% | 13%
EBITDA | 37% | 23%
Volume | 21% | 24%
Tehmasp Printer, Managing Director and CEO of IGI India, commented on the results.
The company’s focus on innovation and digital transformation is expected to further strengthen its market position and drive future growth. As the jewelry industry continues to evolve, IGI India appears well-positioned to capitalize on emerging opportunities in both natural and lab-grown diamond certification markets.
