Editor’s Note
IGI India reports strong Q2 growth with a 16% revenue increase to ₹3,009 crore, alongside plans for strategic expansion to meet rising market demand.
International Gemmological Institute (India) Limited (IGI), a leading provider of gemstone and jewelry certification services, has reported robust financial results for the second quarter, while also announcing plans for strategic expansion to address increasing market demand.
IGI India delivered impressive financial results for Q2, demonstrating significant growth across key metrics:
- Revenue from operations increased by 16% year-over-year to ₹3,009.00 crore
- EBITDA grew by 37% to ₹1,735.00 crore, with margins improving from 48.70% to 57.70%
- Net profit surged by 63% to ₹1,265.00 crore, with margins expanding from 29.90% to 42.00%
The company’s performance was driven by strong growth in both natural and lab-grown diamond certification segments. The lab-grown diamond (LGD) loose stone segment saw a 24% year-over-year increase, while the natural diamond (ND) loose stone segment grew by 14%.
IGI India reported a 21% year-over-year increase in total certification volumes for Q2, reaching 3.03 million reports compared to 2.50 million in the same quarter last year. This growth underscores the rising demand for gemstone and jewelry certification services in the market.
Tehmasp Printer, Managing Director and CEO of IGI, highlighted the company’s plans to address the increasing demand for both lab-grown and natural diamond certification services. The growth strategy focuses on three key areas:
- Scalable expansion through global retail partnerships
- Implementation of digital laboratories
- Geographic expansion beyond India’s borders
IGI is going beyond traditional certification methods to meet evolving consumer needs.
To address these demands, IGI has introduced a proprietary ‘Light Performance Analysis’ that provides a deeper insight into a diamond’s visual attributes, including brightness, fire, and contrast.
The company anticipates continued growth in its core segments of natural diamond and lab-grown diamond certification. Additionally, IGI is seeing strong demand for certification of natural diamond and lab-grown diamond jewelry, which is expected to further accelerate business growth in the coming quarters.
With its strong financial performance, growing certification volumes, and strategic expansion plans, IGI India is well-positioned to capitalize on the increasing demand for gemstone and jewelry certification services. The company’s focus on innovation and meeting evolving consumer needs should help maintain its market leadership in the gemological certification industry.
