Editor’s Note
IGI’s strong Q3 results highlight sustained growth across both natural and lab-grown diamond segments, driven by a significant rise in certification volumes.
International Gemmological Institute (India) Limited (IGI) announced robust Q3 CY2025 results. Consolidated revenue grew 21% YoY to INR 3,037.00 million, EBITDA increased 20% to INR 1,763.00 million, and PAT rose 18% to INR 1,298.00 million. Total certification volumes increased 26% YoY to 3.45 million reports. The Natural Diamond segment grew 29% YoY, while Lab-Grown Diamond jewelry segment saw 26% YoY growth. For the nine months ended September 2025, IGI reported 15% revenue growth, 22% EBITDA increase, and 27% PAT rise. The company’s performance was driven by festive demand across all categories despite macro-economic challenges.
IGI reported a strong performance for Q3 CY2025, with consolidated revenue from operations growing by 21% year-over-year to reach INR 3,037.00 million. The company’s EBITDA saw a 20% increase, amounting to INR 1,763.00 million, while Profit After Tax (PAT) rose by 18% to INR 1,298.00 million.
Total certification volumes increased by 26% YoY, reaching 3.45 million reports in Q3 CY2025.
Certification revenues grew by 20% YoY to INR 2,941.00 million.
The Natural Diamond (ND) loose stone segment saw a 29% YoY growth.
The Lab-Grown Diamond (LGD) jewelry segment experienced a 26% YoY growth.
Segment
Q3 CY2025 Revenue Share
YoY Growth
ND
16.70%
29.00%
LGD
52.30%
24.00%
ND Jewelry
20.90%
7.00%
LGD Jewelry
8.20%
26.00%
Gemstone & Others
1.90%
-10.00%
For the nine months ended September 2025, IGI reported:
15% growth in revenue from operations
22% increase in EBITDA
27% rise in PAT
EBITDA margin improvement from 56.80% to 60.00%
PAT margin expansion from 39.80% to 43.70%
Tehmasp Printer, Managing Director and CEO of IGI, commented on the results.
The global diamond and jewelry industry is experiencing a transformation driven by evolving consumer preferences and technological advancements. Key trends include:
Increasing demand for certification to ensure authenticity and quality.
Rapid adoption of Lab-Grown Diamonds (LGDs) due to affordability and sustainability factors.
Expansion of certified diamonds, gemstones, and jewelry demand beyond traditional markets.
IGI’s multiple service delivery formats, including IGI Labs, In-factory Labs, and Mobile Labs, position the company to capitalize on these emerging opportunities and reinforce its status as a preferred certification partner in the jewelry industry.
IGI’s strong Q3 CY2025 results reflect the company’s robust position in the diamond and jewelry certification market. With its continued focus on innovation and global expansion, IGI appears well-positioned to leverage industry trends and maintain its growth trajectory in the coming quarters.
Note: All financial figures are in Indian Rupees (INR) unless otherwise stated.
