The International Gemmological Institute is the world’s largest independent certification and accreditation services provider in the fields of diamonds, gemstones, and jewelry. The company announced its results for the fourth quarter of the calendar year 2024. IGI India reported that its net profit increased by 45% to INR 113.47 crore, compared to INR 78.4 crore in the same quarter last year. The company’s strong results reflect its strong position in the market.
IGI Q4 Results – Financial Highlights
The company’s consolidated revenue jumped 6% YoY and reached INR 265 crore in Q4 2024. It was INR 250 crore in the same quarter last year. IGI’s EBITDA also surged 18% to INR 152 crore. The company is focusing on operational efficiency; its total expenses declined to INR 124 crore which was INR 138.35 crore in the same quarter last year.
IGI India has a market capitalization of INR 17,600 crore. Despite its strong fundamentals and financials. IGI has declined by 31% since the beginning of January 2025 due to the ongoing bearish market. In the 29 February trading session, it traded between the INR 393 – 411 range and closed at INR 406 per share. This is 2.21% higher than the previous session.
Management Insights
Tehmasp Printer, Managing Director and CEO, attributed the company’s strong results to its leadership in diamond certification. “IGI’s performance reflects our commitment to excellence. With a 33% share in global diamond certification and 65% in lab-grown diamonds, we continue to expand worldwide. Our acquisitions of IGI Belgium and IGI Netherlands have further strengthened our market position,” he said.
Eashwar Iyer, Global CFO, emphasized strategic execution. “Our record revenue and profit in 2024 highlight operational efficiency and strong demand for certification services. With a 17% revenue increase and a 29% rise in profit after tax (PAT), we remain focused on leveraging India’s strengths in diamond processing while expanding in key markets like the USA, Europe, and China,” Iyer stated.
Full-Year Financials
IGI India reported a net profit of INR 427.29 crore (up 29%) from INR 330.84 crore in 2023 in the calendar year 2024. IGI’s Total revenue grew 17% YoY to INR 1,053.16 crore, compared to INR 898 crore in the prior year. The EBITDA margins stood at 57%.
Stock Market Performance and IPO Details
IGI India made its entry into the stock market on 20 December 2024. The issue was over-subscribed to 35.48 times. The stock was listed at INR 470.15 on the BSE and peaked at INR 642.30 on 9 January 2025. Since then, volatility has impacted its performance.
In December 2024, IGI India completed acquisitions of IGI Netherlands and International Gemmological Institute BV. The deals, valued at USD 88.44 million and USD 69.76 million, respectively, have bolstered its global operations.
Industry Trends and Future Outlook
As lab-grown diamonds are becoming famous, demand in the jewellery industry has also increased. IGI holds a dominant position in this segment, and it will benefit further from this.
“With the group now consolidated under India, we are well-positioned to drive growth by leveraging our expertise in diamond manufacturing and certification while strengthening our presence in the USA, Europe, and China,” Iyer noted.
Conclusion
IGI India’s Q4 and full-year results reinforce its standing in the diamond certification industry. Despite stock market fluctuations, its strategic acquisitions, operational efficiency, and market leadership indicate strong growth potential. Investors and industry analysts will be watching closely to see how the company capitalizes on emerging opportunities in the coming quarters.
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