Editor’s Note
This article highlights the strong quarterly financial results reported by the International Gemological Institute (IGI), showing significant year-on-year growth in both operating income and EBITDA.
International Gemological Institute (India) Limited (IGI), one of the world’s largest independent grading and certification service providers, reported strong financial performance for the quarter ended December 31, 2025. The company’s operating income grew 21% year-on-year, while EBITDA increased by 26%, supported by steady demand across all major business segments.
The key driver of the company’s performance in Q4 FY25 was an increase in certification volume for natural diamonds, lab-grown diamonds (LGD), jewelry, and precious stones. Certification revenue for the quarter was 23% higher compared to the same period last year. Overall certification revenue stood at ₹3,049 million, while EBITDA reached ₹1,913 million. PAT (Profit After Tax) was ₹1,346 million, reflecting an 18% year-on-year growth.
Throughout the entire FY25 (12 months), IGI recorded a 17% increase in revenue and a 23% increase in EBITDA. The EBITDA margin expanded to 59.9%, up from 56.9% last year, indicating operating leverage and an improved business mix. The total PAT for the same period was ₹5,316 million, a 24% year-on-year increase, and the PAT margin rose to 43.3%.
He highlighted increased market penetration in natural diamond certification and acceleration in lab-grown diamond certification. This momentum has been further bolstered by the growing popularity of LGD jewelry in India and abroad, and price stability over the last four quarters.
The company stated that the global diamond and jewelry industry is undergoing structural transformation. This change is accelerating due to shifting consumer preferences, technological advancements, and an increasing emphasis on independent certification. Rising incomes and a growing middle-class population in India continue to support demand, while diamonds are now viewed not only as luxury items but also as long-term value assets.
Lab-grown diamonds remain a key growth driver for the industry, as production capacity increases and wholesale prices stabilize globally. Demand for third-party certification is growing beyond traditional markets due to the increasing need for transparency and authenticity in the supply chain.
IGI stated that its diverse service delivery model (including full-scale labs, in-factory labs, and mobile labs) has strengthened customer relationships and provided a competitive edge. With a global network of 31 labs and 18 gemology schools across 10 countries, the company is well-positioned to capitalize on emerging opportunities and strengthen its role as the preferred certification partner for the global jewelry industry.