Quarterly & Annual Financial Results

IGI Reports Strong Q4 FY26 Results with 21% Revenue Growth and 28% PAT Growth

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International Gemological Institute Limited (IGI) reported strong Q4 FY26 consolidated results with revenue growing 21% YoY to ₹368.6 crore and PAT rising 28% YoY to ₹179.6 crore. The growth was driven by strong momentum across natural diamonds, lab-grown diamonds, and jewelry certification businesses.

PRICE-SENSITIVE TRIGGER

Event: Announcement of audited standalone and consolidated financial results for quarter and financial year ended March 31, 2026

Type: Quarterly & Annual Financial Results

Impact: Positive

Immediate Effect: Strong earnings growth, margin expansion, and strategic acquisition progress are expected to improve investor confidence and strengthen growth visibility.

Key Metrics:

Q4 FY26 Revenue: ₹368.6 Crore (+21% YoY)
Q4 FY26 EBITDA: ₹236 Crore (+21% YoY)
Q4 FY26 PBT: ₹238.6 Crore (+25% YoY)
Q4 FY26 PAT: ₹179.6 Crore (+28% YoY)
15-Month Revenue (Jan’25–Mar’26): ₹1,597.6 Crore (+18% YoY)
15-Month EBITDA: ₹972.8 Crore (+22% YoY)
15-Month PAT: ₹711.2 Crore (+25% YoY)
EBITDA Margin (15M FY26): 60.9%

Highlight Metric:

Q4 FY26 PAT Growth: +28% YoY to ₹179.6 Crore

What Happened ?

International Gemological Institute Limited (IGI) announced strong audited consolidated financial results for Q4 FY26 and the 15-month financial period ending March 31, 2026.

The company reported 21% YoY growth in both revenue and EBITDA during the Jan–Mar 2026 quarter, supported by robust demand across natural diamonds, lab-grown diamonds (LGD), and jewelry certification segments.

For the quarter, consolidated revenue stood at ₹368.6 crore while EBITDA came in at ₹236 crore. PAT increased 28% YoY to ₹179.6 crore.

IGI also highlighted that it transitioned from a calendar-year reporting structure to a March-ending financial year format. For the 15-month reporting period, the company delivered 18% revenue growth and 25% PAT growth YoY.

Key Details

Business & Strategic Highlights:

Strong growth was reported across natural diamonds, lab-grown diamonds, and jewelry certification businesses.
IGI completed the acquisition of AGL during the quarter to strengthen its colored stone certification business.
Management expects operational synergies, cross-selling opportunities, and portfolio diversification benefits from the AGL acquisition.
The company continues investing in AI and machine learning to improve operational efficiency and customer experience.
IGI operates through multiple service formats including IGI Labs, In-factory Labs, and Mobile Labs.
Global adoption of lab-grown diamonds continues to support long-term industry growth opportunities.
The company currently operates 36 laboratories and 21 Schools of Gemology across 10 countries.

Note:

Management stated that growing demand for certified diamonds, gemstones, and jewelry continues to strengthen IGI’s long-term growth outlook.

Risk Analysis

Key Risks:

Global economic slowdown could impact discretionary spending on diamonds and jewelry.
Certification demand remains linked to trends in natural and lab-grown diamond markets.
Integration risks related to the AGL acquisition may affect short-term execution.
Competitive intensity in certification and grading services may pressure margins over time.

Worst Case Scenario:

Weakness in global jewelry demand or slower-than-expected adoption of certification services could affect future growth and profitability.

Risk Level: Medium

Company Commentary

MD & CEO Tehmasp Printer stated that the AGL acquisition marks an important strategic milestone for IGI’s global growth journey.
Management highlighted strong synergy potential through operational integration and cross-selling opportunities.
IGI reaffirmed its focus on AI integration and operational excellence to improve scalability and service quality.
The company stated that expanding certification demand and growth in lab-grown diamonds position IGI favorably for long-term growth.

Official Exchange Filing: International Gemological Institute Limited