IGI Records Strong Q1 FY27 Performance; Revenue Rises 23% and EBITDA Climbs 29%

Mumbai, July 25, 2026: International Gemological Institute Limited (IGI), a globally recognised leader in independent gemological grading and certification services, has commenced FY27 on a robust note, reporting a strong financial performance for the quarter ended June 2026.
The company registered a 23% year-on-year increase in revenue and a 29% rise in EBITDA during Q1 FY27, supported by healthy growth across key business segments, including loose stones, jewellery and coloured gemstone certification.
IGI’s revenue from operations stood at ₹3,708 million during the quarter, compared with ₹3,009 million in Q1 FY26, representing a 23% year-on-year increase. EBITDA rose to ₹2,238 million, from ₹1,735 million in the corresponding quarter of the previous financial year, marking a 29% growth.
The company also delivered a notable improvement in profitability. Profit Before Tax (PBT) increased 27% year-on-year to ₹2,228 million, compared with ₹1,750 million in Q1 FY26. Profit After Tax (PAT) surged 31% to ₹1,657 million, against ₹1,265 million in the year-ago quarter.
Operational efficiency remained strong, with the EBITDA margin improving to 60% in Q1 FY27, compared with 58% in Q1 FY26, representing an expansion of 270 basis points. The PAT margin stood at 45%, improving by 260 basis points over the corresponding period of the previous year.
Commenting on the performance, Tehmasp Printer, Managing Director & CEO, IGI, said that the company had begun FY2027 on a very strong footing. He noted that consolidated revenue grew 23% year-on-year during the first quarter, while PAT advanced 31%, driven by strong momentum across lab-grown diamonds (LGDs), loose stones, LGD jewellery and coloured gemstones.
Printer emphasised that the natural diamond business continues to remain strategically important to IGI, with the company strengthening its market share by acquiring new customers and deepening relationships with its existing clientele.
He further said that IGI’s investments in its US business are gradually gaining momentum, while the company has also commenced operations in Italy and continues to evaluate opportunities for expansion into additional international markets.
Alongside geographic expansion, IGI is stepping up investments in its brand, workforce, artificial intelligence and automation with the objective of further enhancing service quality and reducing turnaround times. According to Printer, these investments are expected to enable the company to operate more efficiently at scale, while supporting its confidence in sustaining the current growth momentum throughout the year.
Evolving Industry Landscape Creates New Opportunities
The global diamond and jewellery industry is undergoing a significant transformation, propelled by changing consumer preferences, technological advancements and an increasing demand for independent certification. In India, the sector is also witnessing expansion, supported by rising disposable incomes, the emergence of a larger middle class and the growing perception of diamonds as a luxury investment.
Lab-grown diamonds are gaining broader acceptance across international markets, primarily owing to their affordability and durability. This has made LGDs an increasingly important growth segment for the diamond and jewellery industry. As the market expands, the requirement for independent certification to establish authenticity, quality and consumer confidence is becoming increasingly significant.
Beyond conventional markets, demand for certified diamonds, gemstones and jewellery is expanding rapidly, reinforcing the industry’s need for greater transparency and trust. IGI addresses this requirement through a diversified service infrastructure comprising IGI laboratories, in-factory laboratories and mobile laboratories.
These multiple operating formats enable the company to strengthen customer engagement while providing it with a competitive advantage in an increasingly dynamic and technology-driven marketplace.
IGI continues to focus on innovation and international expansion as it seeks to capitalise on emerging opportunities within the global gemological and jewellery ecosystem. The company aims to further consolidate its position as a preferred certification partner for jewellery manufacturers, retailers, industry participants and consumers.
About International Gemological Institute
International Gemological Institute Limited (IGI) is a Blackstone-backed company and is described as India’s largest independent accreditation and certification services provider, with a 50% market share. Its global network comprises 36 laboratories and 21 Schools of Gemology across 10 countries, giving the company a broad international footprint amid the ongoing transformation of the diamond and jewellery industry.
For 50 years, IGI has served the fine jewellery community and consumers with a comprehensive range of services. These include reports for natural and laboratory-grown diamonds, coloured-stone grading and origin reports, and jewellery identification and appraisal reports.
With the rapid emergence of lab-grown diamonds, IGI screens millions of natural and laboratory-grown diamonds to help ensure that both industry participants and consumers receive products consistent with their expectations.
Across geographies and marketplaces, authentic IGI Laboratory Reports are designed to foster transparency, trust and confidence between buyers and sellers, reinforcing the institute’s longstanding role in the global gemological certification ecosystem.