IGI posts robust Q4 show as diamond certification demand lifts revenue, margins

International Gemmological Institute (India) Limited (IGI), one of the world’s largest independent providers of diamond and jewellery certification services, reported a strong financial performance in the quarter ended December 31, 2025, driven by sustained demand across natural diamonds, lab-grown diamonds, jewellery and gemstones.

The company recorded a 21% year-on-year growth in revenue from operations in Q4 2025, while EBITDA rose 26% over the same period last year. Certification revenues grew 23% during the quarter, reflecting increased penetration and market share gains across key segments.

Consolidated certification revenue for the quarter stood at ₹3,049 million, while EBITDA came in at ₹1,913 million. Profit after tax (PAT) rose 18% year-on-year to ₹1,346 million.

For the full year ended December 2025, IGI reported a 17% increase in revenue from operations and a 23% rise in EBITDA compared with the previous year. EBITDA margins improved sharply to 59.9% from 56.9% a year earlier, underscoring operating leverage and efficiency gains. Consolidated PAT for the 12-month period grew 24% to ₹5,316 million with margins expanding to 43.3%.

Commenting on the performance, Tehmasp Printer, Managing Director and CEO of IGI, said the company delivered strong operating results while continuing to advance its strategic priorities. He noted that IGI has expanded its footprint in natural diamond certification and is seeing strong momentum in lab-grown diamond (LGD) certification, supported by rising adoption of LGD jewellery in India and global markets, as well as stabilisation in wholesale LGD prices.

The company said industry fundamentals remain supportive, with rising disposable incomes, an expanding middle class and increasing preference for certified diamonds and jewellery driving long-term growth. Lab-grown diamonds, in particular, are gaining acceptance globally due to their affordability and sustainability, leading to higher certification volumes.

IGI believes its diversified service model-including in-lab, in-factory and mobile certification services positions it well to capitalise on evolving customer needs and expanding demand for transparency and trust in the global diamond and jewellery industry.