IGIL Q2 FY27 Earnings Call Transcript Released; Strong Growth Reported
International Gemological Institute Limited reported its best quarter ever in Q2 FY27. Revenue grew 31% to ₹3,980 million, with EBITDA up 39% to ₹2,445 million and PAT up 43% to ₹1,858 million. The company expects to outperform its full-year guidance due to strong industry tailwinds and operational performance.
The announcement details record financial performance and positive outlook, which are material to investors and indicate strong business momentum.
The company reported its best-ever quarter with significant year-on-year growth in revenue, EBITDA, and PAT, exceeding previous guidance. Management expressed confidence in continued outperformance.
International Gemological Institute Limited (IGIL) has released the transcript of its earnings conference call for the quarter and half-year ended September 30, 2026. The call, held on October 21, 2026, featured insights from MD & CEO Mr. Tehmasp Printer and CFO Mr. Eashwar Iyer.
Mr. Printer highlighted that the quarter was the best in IGI's history, with record volumes, revenue, EBITDA, and profits. The company issued 4.35 million reports, a 26% year-on-year increase. Revenue from operations grew 31% to ₹3,980 million. For the first half of the year, revenue grew 27%, EBITDA 34%, and profit after tax 37%. Growth was attributed to all business segments, with lab-grown diamonds (LGD) showing the fastest growth. Natural diamonds also grew, despite a sluggish market, and colored stone growth was led by AGL.
The company emphasized the strong demand in the lab-grown diamond sector, driven by capacity additions from growers, retail demand creating certification needs, and LGD becoming the first diamond purchase for many families. IGI's lab-grown jewelry certification grew by 47% in the quarter. The company reiterated its priorities: accelerating natural diamond growth, maintaining leadership in LGD, scaling up gemstone acquisition through AGL integration, continuous brand investment, and leveraging AI for operational effectiveness.
Mr. Iyer provided detailed financial performance. For the consolidated group in Q2 FY27, total revenues were ₹3,980 million (up 31%), certification revenue was ₹3,875 million (up 32%), EBITDA was ₹2,445 million (up 39%) with margins at 61.4%, and PAT was ₹1,858 million (up 43%). The strong performance was driven by LGD (up 37%), LGD jewelry (up 47%), and gemstones/other certification (up 331%). For H1 FY27, group revenue grew 27% to ₹7,688 million, EBITDA grew 34% to ₹4,683 million, and PAT grew 37% to ₹3,516 million.
IGIL expects to continue outperforming its initial full-year guidance of 15% revenue growth and 20% EBITDA growth, driven by strong industry tailwinds and operational execution.
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