International Gemological Institute Ltd.
IGILServices filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
4 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 4 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20251112 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260202 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260527 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260727 | 2026-06-30 | yes |
IGIL
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 325.25 |
| 52-week range | 291.0 – 381.25 |
| Return 1M | -5.44% |
| Return 3M | -9.58% |
| Return 1Y | -10.55% |
| Return 3Y | not reported for this period |
| Return 5Y | not reported for this period |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 37.00 |
| Other income | 2.00 |
| Total income | 39.00 |
| Cost of materials consumed | 0.00 |
| Purchases of stock-in-trade | 0.00 |
| Changes in inventories | 0.00 |
| Employee benefit expense | 8.00 |
| Finance costs | 0.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.77 | 0.00 |
| institutions foreign | 0.09 | 0.01 |
| institutions domestic | 0.06 | -0.01 |
| mutual funds | 0.04 | -0.01 |
| public | 0.23 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| TRANSCRIPT | 2026-06-30 | 4 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2024-12-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|
| Revenue from operations | 265.00 | 301.00 | 304.00 | 320.00 | 369.00 | 37.00 |
| Other income | 12.00 | 14.00 | 12.00 | 11.00 | 18.00 | 2.00 |
| Total income | 277.00 | 315.00 | 316.00 | 331.00 | 387.00 | 39.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 2.00 | 0.00 |
| Changes in inventories | 1.00 | -1.00 | 2.00 | -3.00 | 1.00 | 0.00 |
| Employee benefit expense | 66.00 | 71.00 | 71.00 | 73.00 | 74.00 | 8.00 |
| Finance costs | 1.00 | 2.00 | 2.00 | 2.00 | 3.00 | 0.00 |
| Depreciation and amortisation | 10.00 | 10.00 | 11.00 | 12.00 | 13.00 | 1.00 |
| Other expenses | 45.00 | 57.00 | 54.00 | 58.00 | 56.00 | 6.00 |
| Total expenses | 124.00 | 140.00 | 141.00 | 143.00 | 148.00 | 16.00 |
| Profit before exceptional items and tax | 153.00 | 175.00 | 175.00 | 188.00 | 239.00 | 22.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 153.00 | 175.00 | 175.00 | 188.00 | 239.00 | 22.00 |
| Current tax | 37.00 | 47.00 | 48.00 | 51.00 | 61.00 | 6.00 |
| Deferred tax | 2.00 | 2.00 | -2.00 | 3.00 | -2.00 | 0.00 |
| Tax expense | 39.00 | 48.00 | 46.00 | 54.00 | 59.00 | 6.00 |
| Profit for the period | 114.00 | 127.00 | 130.00 | 135.00 | 180.00 | 17.00 |
| Profit attributable to owners | — | 127.00 | 130.00 | 135.00 | 180.00 | 166.00 |
| Profit attributable to non-controlling interests | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other comprehensive income | -1.00 | 8.00 | 8.00 | 4.00 | 11.00 | 0.00 |
| Total comprehensive income | 112.00 | 134.00 | 138.00 | 138.00 | 191.00 | 17.00 |
| Earnings per share, basic | 2.86 | 2.92 | 3.00 | 3.11 | 4.16 | 3.84 |
| Earnings per share, diluted | 2.74 | 2.81 | 2.91 | 3.00 | 4.02 | 3.71 |
Annual results, as filed
| Line | 2024-12-31 | 2025-12-31 | 2026-03-31 |
|---|---|---|---|
| Revenue from operations | 1,053.00 | 1,229.00 | 1,598.00 |
| Other income | 35.00 | 46.00 | 64.00 |
| Total income | 1,088.00 | 1,275.00 | 1,662.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 |
| Purchases of stock-in-trade | 4.00 | 0.00 | 2.00 |
| Changes in inventories | 0.00 | -2.00 | -1.00 |
| Employee benefit expense | 265.00 | 280.00 | 353.00 |
| Finance costs | 8.00 | 10.00 | 12.00 |
| Depreciation and amortisation | 41.00 | 43.00 | 56.00 |
| Other expenses | 185.00 | 215.00 | 270.00 |
| Total expenses | 503.00 | 545.00 | 693.00 |
| Profit before exceptional items and tax | 585.00 | 730.00 | 969.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 |
| Profit before tax | 585.00 | 730.00 | 969.00 |
| Current tax | 155.00 | 196.00 | 258.00 |
| Deferred tax | 3.00 | 2.00 | -0.00 |
| Tax expense | 158.00 | 199.00 | 258.00 |
| Profit for the period | 427.00 | 532.00 | 711.00 |
| Profit attributable to owners | — | 532.00 | 711.00 |
| Profit attributable to non-controlling interests | — | 0.00 | 0.00 |
| Other comprehensive income | 6.00 | 24.00 | 35.00 |
| Total comprehensive income | 434.00 | 555.00 | 746.00 |
| Earnings per share, basic | 10.74 | 12.30 | 16.46 |
| Earnings per share, diluted | 10.28 | 11.85 | 15.92 |
Balance sheet, as filed
| Line | 2024-12-31 | 2025-06-30 | 2025-12-31 | 2026-03-31 |
|---|---|---|---|---|
| Total assets | 1,504.00 | 1,552.00 | 1,755.00 | 1,858.00 |
| Non-current assets | 485.00 | 531.00 | 675.00 | 900.00 |
| Current assets | 1,019.00 | 1,021.00 | 1,080.00 | 958.00 |
| Property, plant and equipment | 146.00 | 274.00 | 291.00 | 306.00 |
| Capital work-in-progress | 36.00 | 45.00 | 59.00 | 62.00 |
| Goodwill | 101.00 | 108.00 | 114.00 | 153.00 |
| Other intangible assets | 136.00 | 5.00 | 4.00 | 78.00 |
| Inventories | 1.00 | 1.00 | 3.00 | 1.00 |
| Trade receivables | 164.00 | 210.00 | 234.00 | 289.00 |
| Cash and cash equivalents | 139.00 | 63.00 | 98.00 | 82.00 |
| Total equity and liabilities | 1,504.00 | 1,552.00 | 1,755.00 | 1,858.00 |
| Equity | 1,063.00 | 1,238.00 | 1,410.00 | 1,488.00 |
| Equity share capital | 86.00 | 86.00 | 86.00 | 86.00 |
| Other equity | 976.00 | 1,151.00 | 1,323.00 | 1,402.00 |
| Total liabilities | 441.00 | 314.00 | 345.00 | 370.00 |
| Non-current liabilities | 137.00 | 129.00 | 136.00 | 180.00 |
| Current liabilities | 304.00 | 185.00 | 209.00 | 190.00 |
| Borrowings, non-current | 0.00 | 0.00 | 0.00 | 0.00 |
| Borrowings, current | 0.00 | 0.00 | 0.00 | 0.00 |
| Trade payables | 59.00 | 41.00 | 91.00 | 52.00 |
Cash flow, as filed
| Line | 2024-12-31 | 2025-06-30 | 2025-12-31 | 2026-03-31 |
|---|---|---|---|---|
| Net cash from operating activities | 393.00 | 253.00 | 502.00 | 624.00 |
| Net cash from investing activities | -1,641.00 | -209.00 | -307.00 | -339.00 |
| Net cash from financing activities | 1,188.00 | -126.00 | -248.00 | -362.00 |
| Purchase of property, plant and equipment | 37.00 | 28.00 | 63.00 | 82.00 |
| Net increase in cash | -52.00 | -76.00 | -41.00 | -58.00 |
| con:CFO.BEFORE_TAX | 548.00 | 387.00 | 784.00 | 918.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | -21.00 | -45.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 155.00 | 109.00 | 235.00 | 294.00 |
| con:CF_OTHER.OPERATING | 0.00 | -3.00 | -2.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 1.00 | 0.00 | 0.00 | 1.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 1,346.00 | 0.00 | 0.00 | 80.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2024-12-20 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 76.55 | 76.55 | 76.55 | 76.55 | 0.77 | 0.77 | 0.77 | 0.77 |
| Domestic institutions | 7.75 | 5.88 | 5.88 | 5.44 | 0.05 | 0.05 | 0.06 | 0.06 |
| Mutual funds | — | — | — | 4.01 | 0.04 | 0.04 | 0.05 | 0.04 |
| Insurance companies | 1.20 | 1.01 | 1.12 | 1.02 | 0.01 | 0.01 | 0.00 | 0.00 |
| Foreign institutions | 9.07 | 9.10 | 9.88 | 10.18 | 0.11 | 0.10 | 0.09 | 0.09 |
| Government | — | — | — | 0.00 | 0.00 | — | 0.00 | 0.00 |
| Public | 23.45 | 23.45 | 23.45 | 23.45 | 0.23 | 0.23 | 0.23 | 0.23 |
| Non-institutional | 6.63 | 8.47 | 7.69 | 7.83 | 0.08 | 0.08 | 0.08 | 0.08 |
| Shares outstanding | 432159696 | 432159696 | 432159696 | 432159696 | 432159696 | 432159696 | 432159696 | 432159696 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-12-31, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| IGI Netherlands B.V. | Direct Subsidiary | Investment | 7,524,000,000.00 | 1 |
| International Gemmological Institute BV | Direct Subsidiary | Any other transaction, Investment, Purchase of goods | 5,937,000,000.00 | 4 |
| BCP Asia ll Topco Pte. Ltd. | Holding Company | Dividend paid | 1,898,000,000.00 | 1 |
| International Gemmological Institute Inc. | Indirect Subsidiary | Any other transaction, Purchase of goods or services | 36,000,000.00 | 5 |
| International Gemmological Institute Turkey Precious Stone C | Direct Subsidiary | Interest received, Sale of goods or services | 4,000,000.00 | 2 |
| IGI (Shanghai) Gemological Research and Testing Limited | Indirect Subsidiary | Sale of goods or services | 3,000,000.00 | 1 |
| IGI (Shenzhen) Jewelry Testing Co., Ltd. | Indirect Subsidiary | Sale of goods or services | 3,000,000.00 | 1 |
| International Gemmological Institute DMCC | Indirect Subsidiary | Any other transaction, Sale of goods or services | 1,000,000.00 | 2 |
| International Gemological Institute (HK) Limited | Indirect Subsidiary | Sale of goods or services | 1,000,000.00 | 1 |
| International Gemmological Institute (Israel) Ltd. | Indirect Subsidiary | Any other transaction, Sale of goods or services | 1,000,000.00 | 2 |
| International Gemmological Identification (Thailand) Limited | Indirect Subsidiary | Any other transaction, Sale of goods or services | 1,000,000.00 | 2 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-07-27 | Q1FY27 | INTERNATIONAL GEMOLOGICAL INSTITUTE LIMITED | Read the call |
| 2026-05-27 | Q4FY26 | GEMOLOGICAL INSTITUTE LIMITED | Read the call |
| 2026-02-02 | Q3FY26 | (INDIA) LIMITED | Read the call |
| 2025-11-12 | Q2FY26 | EXECUTIVE OFFICER, INTERNATIONAL GEMMOLOGICAL | Read the call |
What they said about it, quarter by quarter
| Topic | Q1FY27 | Q2FY26 | Q3FY26 | Q4FY26 |
|---|---|---|---|---|
| Capex | The DNA setup, step up is reflective of the incremental capex consistent with volume and business scale-up, with finance cost increasing as a result o… | — | Added to that, we are also hearing significant capacity additions that is happening at the lab grower manufacturers end. | My final question was on the comment that you made that, you know, there has been capacity additions in the Indian market from the grower perspective. |
| Capital allocation | So Harit, our acquisition of AGL is a strategic move towards expanding into the gemstone industry. | — | I think there will be a combination of dividend. | That combined with the AGL acquisition, you know, these are important steps that the organization is taking to ensure that the synergies of the brand … |
| Debt and cash | — | — | Further, can you elaborate on the capital allocation philosophy and cash flow priorities as the business balances growth opportunities with financial … | — |
| Demand | So what we have to do is keep pace with the demand and keep on increasingly certify the LG stones, diamonds, which come into play. | So, we have seen some significant ramp up of demand driven by the Diwali quarter impact as well as far as jewelry is concerned, etc., But having said … | Additionally, how do you see demand evolving across natural versus lab-grown segments and what tactical priorities will shape IGI's growth and differe… | I think that has been one of the key considerations because there is still a lot of demand that's still coming in and that's the reason why people are… |
| Guidance | As the discretionary spends moderate, we expect the EBITDA margins to stabilize in the 70% range. | And the last bit is, if you look at your guidance, you have hit your nine-month number is in line with your revenue kind of guidance and given that yo… | Thank you for the guidance and I wish the entire team best of luck for the next quarter. | My first question is on your outlook for FY27 on both growth and margins. |
| Margin | The AGL acquisition also contributed an incremental 2% growth to the EBITDA. | And on a long-term basis also, do you think this same 15% revenue and 20% EBITDA is sustainable beyond this financial year? | As IGI continues to scale its operation amid fluctuations in diamond volumes, pricing cycles, and geographic mix, how are you thinking about margin su… | From a margin standpoint, I think our focus has been in terms of ensuring that we make the right investments for the business. |
| People | Additionally, the quarter saw the impact of discretionary brand and marketing spends resultant of the IPL sponsorship, which is largely front-loaded, … | — | My first question will be depending on, as you mentioned on the call earlier, that we are also doing a mass hiring. | So when does the employee expenses see an increase given that we are hiring -- we are giving a massive hiring project? |
| Pricing | ASP for the quarter reported at 870 versus 861 for the previous year quarter, as pricing continues to be stable. | I just wanted to understand whether there is a like-to-like pricing decline also in the quarter, and if so, how much that is, that would be my first q… | I wanted to ask what has been the pricing trend in the lab- grown diamonds? | Just wanted to get your sense, Eshwar, that is pricing per segment, has that continued to be stable like it has been in the last two quarters? |
| Revenue growth | Total revenue from operations for the quarter stood at 3,708 million, registering a growth of 23%. | So, while we continue to see some stress out there with growth at about 6% in revenue terms, but within this, how should we look at it? | Smith what I was saying is -- while recruitment is -- obviously supports the volume and revenue growth. | I hear you mentioned 15% revenue growth and 20% EBITDA growth. |
What they said they would do
Sentences in which management set an expectation. Each names the speaker and the page of the transcript it came from.
| Date | Quarter | Who | What they said |
|---|---|---|---|
| 2026-07-27 | Q1FY27 | INTERNATIONAL GEMOLOGICAL INSTITUTE LIMITED | As the discretionary spends moderate, we expect the EBITDA margins to stabilize in the 70% range. |