THEBUSINESSBYTES BUREAU

MUMBAI, JANUARY 28, 2026

International Gemmological Institute (India) Limited (IGI), one of the world’s largest independent grading and accreditation services providers, delivered a strong financial performance in the quarter ended December 31, 2025, underscoring its leadership in the rapidly evolving global diamond and jewellery certification industry.

For Q4 of 2025 calendar year, IGI reported a 21 per cent year-on-year growth in revenue from operations, while EBITDA rose by an impressive 26 per cent compared to the same period last year. The strong showing was driven by sustained momentum across all key business segments, including natural diamonds, lab-grown diamonds, jewellery and gemstones. Certification revenue grew 23 per cent during the quarter, reflecting increasing reliance on independent certification amid rising volumes and heightened focus on transparency and trust across markets.

On a consolidated basis, certification revenue for the quarter stood at Rs  3,049 million, while EBITDA reached Rs 1,913 million. Profit after tax for Q4 CY2025 came in at Rs 1,346 million, marking an 18 per cent increase year-on-year and highlighting the company’s continued ability to convert topline growth into healthy profitability.

The strong quarterly performance was mirrored in IGI’s full-year results. For the twelve months ended December 2025, the company recorded a 17 per cent growth in revenue from operations and a 23 per cent rise in EBITDA compared to the twelve months ended December 2024. EBITDA margin expanded significantly from 56.9 per cent in the previous year to 59.9 per cent in CY25, reflecting operating leverage and disciplined cost management. Consolidated PAT for the year stood at Rs 5,316 million, up 24 per cent year-on-year, with PAT margin improving from 40.6 per cent to 43.3 per cent.

Commenting on the performance, Tehmasp Printer, Managing Director and CEO of IGI, said the company had delivered strong operating results in both Q4 and the full year while continuing to make steady progress on its strategic priorities. He noted that IGI has increased its penetration and market share in the natural diamond certification business, while the lab-grown diamond certification segment is witnessing strong momentum. This growth, he said, is being driven by rising adoption of lab-grown diamond jewellery in India and global markets, coupled with stability in wholesale prices over the past four quarters. With a strong presence across all segments, he added, IGI is well positioned to unlock further growth in the coming year by delivering a best-in-class customer experience.

The broader industry backdrop continues to be supportive. The global diamond and jewellery sector is undergoing a structural transformation driven by shifting consumer preferences, technological advancements and a growing emphasis on certification. In India, rising disposable incomes, an expanding middle class and the increasing appeal of diamonds as a luxury and investment product are fuelling demand across categories.

One of the most significant trends reshaping the industry is the rapid global adoption of lab-grown diamonds, which are gaining acceptance for their affordability and sustainability. Volumes in this segment continue to rise, with major manufacturers expanding capacity and wholesale prices stabilising. As certification becomes critical to ensuring authenticity and quality, IGI’s leadership in independent grading positions it at the forefront of this shift.

At the same time, demand for certified diamonds, gemstones and jewellery is expanding beyond traditional markets, reinforcing the need for transparency and trust throughout the value chain. IGI’s diversified service delivery formats, including IGI Labs, in-factory labs and mobile labs, strengthen customer relationships and provide a distinct competitive advantage.

With its continued focus on innovation, expanding global footprint and strong financial performance, IGI remains well placed to capitalise on emerging opportunities and reinforce its position as the preferred certification partner for the global jewellery industry.