IGI Q2 FY27 Revenue Surges 31% to ₹398 Cr, EBITDA Jumps 39% YoY
International Gemological Institute Limited reported strong Q2 FY27 results with consolidated revenue up 31% YoY to ₹398 crore and EBITDA up 39% YoY to ₹244.5 crore. PAT grew 43% to ₹185.8 crore. For H1 FY27, revenue increased 27% to ₹768.8 crore and EBITDA rose 34% to ₹468.3 crore.
The substantial growth in key financial metrics like revenue and profit, along with positive commentary on demand trends and strategic outlook, is expected to have a significant positive impact on the company's stock.
The company reported significant year-on-year growth in revenue, EBITDA, and PAT for both the quarter and half-year, indicating strong financial performance and positive business momentum.
International Gemological Institute Limited (IGI) has announced strong financial results for the quarter and half-year ended September 30, 2026. The company reported a consolidated revenue from operations growth of 31% year-on-year (YoY) to ₹398 crore (INR 3,980 Mn) for Q2 FY27. EBITDA saw a significant increase of 39% YoY, reaching ₹244.5 crore (INR 2,445 Mn). The EBITDA margin expanded by 340 basis points to 61.4% from 58.0% in Q2 FY26. Profit After Tax (PAT) grew by 43% to ₹185.8 crore (INR 1,858 Mn), with a margin of 46.7%.
The growth was broad-based across segments, including Loose Diamonds (LGD) up 37% YoY, Jewelry (LGD) up 47%, Natural Diamond Loose Stones up 8%, Natural Diamond Jewelry up 3%, and Colored Gemstones up sevenfold, which includes AGL. IGI delivered 4.35 million reports in the quarter, a 26% increase YoY.
For the half-year ended September 30, 2026 (H1 FY27), revenue from operations grew by 27% to ₹768.8 crore (INR 7,688 Mn), and EBITDA increased by 34% to ₹468.3 crore (INR 4,683 Mn). EBITDA margins rose from 57.8% in H1 FY26 to 60.9% in H1 FY27. PAT grew by 37% to ₹351.6 crore (INR 3,516 Mn) at a margin of 45.7%. Report volumes for H1 FY27 grew 22% to 7.91 million.
Mr. Tehmasp Printer, Managing Director and CEO of IGI, commented on the results, stating, "Q2FY27 was marked by healthy demand trends and strong operational execution, with Q2 consolidated revenue up 31% and PAT up 43% year-on-year. IGI is category-neutral by design - certifying natural diamonds, lab-grown diamonds, jewelry and colored gemstones to give buyers and sellers independent, consistent assurance of what they are buying. Lab-grown diamonds have started to witness higher adoption, while natural diamonds and gemstones remain a key growth lever for us. As the industry enters its peak festive season in India and the US holiday ordering cycle ramps up, retailers and manufacturers are positioning for higher demand, and we are seeing encouraging trends across all our business segments. Backed by our global footprint, diversified certification portfolio and continued investments in technology, brand and customer engagement, we remain well positioned to capitalize on these opportunities and drive sustainable long-term growth."
The company highlighted industry trends, noting the gradual broadening of growth drivers in the global gems and jewelry industry, with increasing focus on lab-grown diamonds, colored gemstones, and customized jewelry. India's strengthening position as a strategic hub for the global jewelry industry, supported by manufacturing capabilities and growing domestic consumption, was also emphasized. IGI plans to continue strengthening its global platform through investments in technology, laboratory capabilities, and market development initiatives.
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