International Gemmological Institute (India) (IGIL) investor relations material

Strategic positioning and leadership

• Operates a global network of 37 laboratories in 10 countries, issuing 12.8 million certifications in 2025 and holding significant market shares in India, the USA, and lab-grown diamonds.

• Acquired American Gemological Laboratories (AGL) in 2026, expanding into colored gemstones and diversifying revenue beyond diamonds.

• Maintains a unique position by being category-agnostic, certifying natural, lab-grown, gemstones, and jewelry to one standard.

• Runs 21 Schools of Gemology, reinforcing industry standards and supplying talent globally.

• Led by an experienced, globally distributed management team.

Market trends and growth outlook

• Jewelry market projected to grow from $340–350B in 2025 to $410–430B by 2030, with certification penetration rising from 70–75% to 80–85%.

• Lab-grown diamond (LGD) production has grown 5–6x in the last 3–4 years, with stabilized prices and healthy capacity utilization.

• India’s rising per-capita income is expanding the diamond-buying base, with lab-grown diamonds serving as an entry point for new consumers.

• Retail market for LGDs in India is rapidly scaling, supported by significant capital investment and new retail outlets.

• Consumer demand is increasingly driven by Gen Z and Millennials, with trust and certification central to purchase decisions.

Financial performance and value creation

• Revenue from operations reached Rs. 15,976 Mn (+18% YoY) for the 15 months ending March 2026, with EBITDA margin at 60.9% and PAT margin at 44.5%.

• Consistent growth: certifications, revenue, and EBITDA have grown at CAGRs of 24.2%, 17.0%, and 21.9% respectively over the last three years.

• Asset-light, high-margin, and cash-generative business model, with net cash of Rs. 8,005 Mn and effectively debt-free.

• Capital allocation prioritizes organic growth, selective M&A, shareholder returns, and balance sheet strength.

• AGL acquisition contributed incremental 3% to revenue and 2% to EBITDA in the latest quarter.