International Gemological Institute shares locked in 10% upper circuit after profit rises 43% in Q2

Shares of the International Gemological Institute, the world's largest independent gemological laboratory network, surged by their daily maximum limit of 10% to hit an intraday high of ₹353.20 a day after it reported its September quarter earnings.

International Gemological Institute post market hours on Wednesday reported a standalone net profit of ₹186 crore in the second quarter of current financial year, marking an increase of 43% from ₹130 crore in the same period last year.

Its revenue from operations jumped 31% to ₹398 crore at the end of September quarter compared with ₹304 crore a year earlier.

The company reported stable operational performance as its earnings before interest, taxes, depreciation, and amortization (EBITDA) advanced 39% to ₹244 crore compared with ₹176 crore in the year-ago period.

Its EBITDA margin expanded by 340 basis points.

The company's consolidated revenue from operations grew 31% year on year (YoY) to ₹398 crore in Q2 FY27, while EBITDA grew 39% to ₹244 crore.

Growth was broad-based across segments, with lab grown diamonds (LGD) loose stones up 37% YoY, LGD jewellery up 47%, natural diamond loose stones up 8%, natural diamond jewellery up 3% and coloured gemstones up 7 times, including AGL.

"Q2FY27 was marked by healthy demand trends and strong operational execution, with Q2 consolidated revenue up 31% and PAT up 43% year-on-year. IGI is category-neutral by design - certifying natural diamonds, lab-grown diamonds, jewellery and coloured gemstones to give buyers and sellers independent, consistent assurance of what they are buying. Lab-grown diamonds have started to witness higher adoption, while natural diamonds and gemstones remain a key growth lever for us," said Tehmasp Printer, Managing Director and CEO of the company.

The global gems and jewellery industry is witnessing a gradual broadening of growth drivers, with value creation increasingly shifting beyond traditional diamond categories. Manufacturers, retailers and brands are expanding product offerings across lab-grown diamonds, coloured gemstones and customised jewellery, reflecting a more diversified consumer landscape and creating new opportunities across the industry ecosystem, IGI said.

India continues to strengthen its position as a strategic hub for the global jewellery industry, supported by its manufacturing capabilities, skilled workforce and growing domestic consumption. Industry stakeholders are increasingly focused on moving up the value chain through branded products, innovation and stronger engagement with end consumers across international markets, the company added.

As of 1:34 pm, there were pending buy orders for 12,192 shares while no sellers were visible on the NSE.