IGI Q1 FY27 Revenue Up 23% to ₹370.8 Crore on Strong LGD & AGL Growth
International Gemological Institute Limited (IGI) reported Q1 FY27 revenue growth of 23% to ₹370.8 crore and EBITDA growth of 29% to ₹223.8 crore. The strong performance was boosted by LGD segments and the acquisition of AGL, which expanded its reach into coloured gemstones. The company appointed Manu Sharma as COO and reiterated its guidance for 15% revenue and 20% EBITDA growth for FY27.
The announcement details significant financial performance improvements, strategic acquisitions, leadership changes, and positive future outlook, which are material factors for investors.
The company reported strong year-on-year growth in revenue and EBITDA, along with margin expansion, driven by core business segments and strategic acquisitions. Management expressed confidence in future growth.
International Gemological Institute Limited (IGI) has reported a strong start to FY27, with Q1 revenue growing by 23% year-on-year to ₹370.8 crore (3,708 million). The company also witnessed a significant 29% year-on-year growth in EBITDA, reaching ₹223.8 crore (2,238 million), with EBITDA margins improving by 270 basis points to 60.4%.
This robust performance was driven by broad-based growth across its core segments, including Lab-Grown Diamonds (LGD) which grew by 25%, LGD Jewellery by 44%, and Gemstones and other certification by over 200%. The latter reflects the consolidation of American Gemological Laboratories (AGL), acquired earlier this year. The integration of AGL is contributing to performance and expanding IGI's service offerings into coloured gemstones, thereby increasing the total addressable market.
Natural diamond segments also showed positive momentum, with ND Loose Stones growing by 6% and ND Jewellery by 2% year-on-year. IGI is strategically focusing on gaining market share in the natural diamond loose stones segment through new customer acquisitions and deepening relationships with existing clients.
On a standalone India basis, certification revenue grew by 22% to ₹279.2 crore (2,792 million), with LGD growing by 30%, LGD Jewellery by 38%, and Gemstones by 135%. EBITDA for the standalone business stood at ₹197 crore (1,970 million), with margins at 68.8%. The company expects standalone EBITDA margins to stabilize around 70% as discretionary spends moderate.
IGI has also strengthened its leadership team with the appointment of Mr. Manu Sharma as Chief Operating Officer. The company remains confident in its guidance of 15% revenue growth and 20% EBITDA growth for the full year, with AGL acquisition expected to contribute an additional 2-3% to revenue growth.
During the quarter, IGI invested approximately ₹5 crore in marketing and brand-building activities, including its IPL sponsorship, and has been increasing its headcount to support expanding certification volumes and investments in AI and machine learning.
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