International Gemological Institute Limited reported a 43% annual increase in second-quarter profit as certification reports grew, while its shares reached the National Stock Exchange of India’s (NSE) 10% upper price band on Oct. 22.
The shares touched ₹353.20 at 12:29 a.m. ET (04:29 UTC), up 10% from the previous close of ₹321.10, Business Standard reported. Moneycontrol also reported the upper-band price.
The company’s unaudited consolidated results for the quarter ended Sept. 30, 2026, showed profit after tax of ₹1,858.44 million, compared with ₹1,297.93 million in the same quarter of 2025. Revenue from operations rose to ₹3,980.24 million from ₹3,037.37 million. The company’s press release reported year-over-year increases of 43% in profit and 31% in revenue. The results were subject to a limited review.
IGI recorded 4.35 million certification reports, up 26% year over year, while certification revenue increased 32% to ₹3,875 million, according to its investor presentation. The presentation says each certificate generates a fee, making report volume a measure of activity in a paid service. The results filing identifies one reportable segment: certification of diamonds, gemstones and jewelry, along with related education.
The company said lab-grown diamond jewellery grew 47% and lab-grown diamond loose stones rose 37%. Natural diamond loose stones increased 8%, while natural diamond jewellery rose 3%.
The company also reported earnings before interest, taxes, depreciation and amortization (EBITDA) of ₹2,445 million, up 39%. Its EBITDA margin widened to 61.4% from 58.0% a year earlier.
Managing Director and CEO Tehmasp Printer described the quarter as one of “healthy demand trends and strong operational execution.” He said lab-grown diamonds were seeing greater adoption and that natural diamonds and gemstones remained a growth lever for the company. Printer also said retailers and manufacturers were preparing for higher demand as India entered its festive season and U.S. holiday ordering picked up.
