International Gemological Institute Limited (IGIL)

Latest Results (Q1 FY26)

Revenue: ₹386.80 crore (+23.49% YoY) - Net Profit: ₹179.60 crore (+27.62% YoY) - EBITDA: ₹254.15 crore (+24.23% YoY) - EPS: ₹4.03 (+13.28% QoQ) #### Previous Quarter (Q4 FY25)

Revenue: ₹319.67 crore - Net Profit: ₹134.55 crore - EBITDA: ₹202.73 crore - EPS: ₹3.13 #### Key Trends

Revenue Growth: Accelerated from +20.93% YoY in Q4 FY25 to +23.49% YoY in Q1 FY26, driven by robust demand in both natural and lab-grown diamond certification .

Profit Margins: Net profit margin expanded to 46.43% in Q1 FY26 from 44.93% in Q4 FY25, reflecting improved operational efficiency .

Segment Performance:

- Certification revenue contributed 92% of total revenue in Q1 FY26 .

- India standalone revenue grew 27% YoY to ₹296.28 crore .

Outlook

The company has guided for 15% revenue growth and 20% EBITDA growth for FY 2026–27, supported by capacity expansion in lab-grown diamonds and increased penetration in natural diamonds .

Peer Comparison: IGIL’s revenue growth of 23.49% in Q1 FY26 outpaces sector averages, reflecting its strong market position in diamond certification .

Key Takeaways

IGIL delivered strong sequential and YoY growth in Q1 FY26, driven by higher certification volumes and improved margins.

The acquisition of American Gemological Laboratories (AGL) is expected to further boost international presence and revenue diversification .

Margins remain healthy, supported by operational leverage and pricing discipline.

🔍 For Deep Analysis (click below):

How does IGIL’s lab-grown diamond certification volume compare to natural diamond certification, and what’s the outlook for each segment?

What impact did the AGL acquisition have on Q1 FY26 results, and how will it influence future quarters?

How is IGIL managing currency risk given its international operations, especially post-AGL acquisition?

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