IGI Q2 FY27: certification revenue up 32% YoY to INR 3,875 Mn, PAT up 43% to INR 1,858 Mn
Q2 FY27 certification revenue up 32% to INR 3,875 Mn, EBITDA up 39%, PAT up 43% to INR 1,858 Mn.
By ScoutQuest · · 1 min read
- Q2 FY27 Certification Revenue
- INR 3,875 Mn (+32%)
- Q2 FY27 EBITDA
- INR 2,445 Mn (+39%)
- Q2 FY27 PAT
- INR 1,858 Mn (+43%)
- Period
- Q2 FY27 / H1 FY27
- Positioning
- IGI presents itself as the leader in the growth segment of gem certification, with strong share in India's LGD loose certification and a global presence spanning India, the US, Middle East and Europe.
📈 Q2 FY27 certification volumes rose 26% YoY to 4.35 Mn reports and certification revenue rose 32% to INR 3,875 Mn. EBITDA was INR 2,445 Mn (+39%) and PAT INR 1,858 Mn (+43%). For H1 FY27, certification revenue was INR 7,474 Mn (+27%) and PAT INR 3,516 Mn (+37%), with EBITDA margin at 60.9% vs 57.8%.
📉 Growth was led by LGD jewelry (+47% YoY in Q2) and LGD loose stones (+37%), while natural loose stones grew 8%. Average realized price per report rose 4% YoY to INR 891 but fell 12% QoQ from INR 1,010, which the company attributes to a 4% lower LGD mix versus Q1.
🏭 The company says it leads the growth segment, citing 65-75% share of India LGD loose certification, and positions the US as the prize it is chasing. Management states it is scaling up Dubai and Turkey, plans expansion into Saudi Arabia and other countries, and has moved into Italy with further evaluations underway.
🏭 To back its outlook, the presentation cites commissioned research projecting global certifications rising from 33-38 Mn in CY2025 to 75-80 Mn by CY2030E, and says LGD wholesale prices have stabilized since 2025.
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More numbers
- Certification revenue, Q2 FY27INR 3,875 Mn
- Certification revenue growth YoY, Q2 FY2732%
- EBITDA, Q2 FY27INR 2,445 Mn
- PAT, Q2 FY27INR 1,858 Mn
- PAT growth YoY, Q2 FY2743%
- ARP per report, Q2 FY27INR 891
- Revenue from operations, H1 FY277,688 (in INR Mn)
- PAT, H1 FY27INR 3,516 Mn
- EBITDA margin, H1 FY2760.9%
- Revenue from operations, consolidated 15M 202615,976 (INR Mn)
- PAT, consolidated 15M 20267,112 (INR Mn)
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