The International Gemological Institute delivered impressive financial results for the second quarter of FY27, with consolidated net profit rising 43% to ₹185.8 crore compared to ₹129.8 crore in the corresponding period of the previous fiscal year. According to latest reports, the company's revenue from operations increased 31% to ₹398 crore during the quarter under review, up from ₹303.7 crore in Q2 FY26. The strong performance was driven by healthy demand trends and robust operational execution across the company's business segments. IGI shares rose 6% on Friday after gaining 10% in the previous session, lifting their two-day advance to 16.5%. The stock reached its day's high of ₹374.05 per share on BSE, bringing it closer to its 52-week peak of ₹388 recorded in May 2026. As per The Economic Times, the company's shares were locked at the upper circuit of 10% during Thursday's trade, opening around 6% higher at ₹339 and touching the day's upper price band of ₹353.20.
The company's profitability metrics showed significant improvement during Q2 FY27. EBITDA grew by 39% to ₹244 crore, with the EBITDA margin expanding by 340 basis points to 61.4% from 58.0% in Q2 FY26. Profit before tax (PBT) also saw a 40% rise to ₹245.6 crore, demonstrating the company's enhanced operational efficiency. For the first half of fiscal year 2027 (H1 FY27), consolidated revenue from operations increased by 27% to ₹768.8 crore, with EBITDA growing 34% to ₹468.3 crore and PAT up 37% to ₹351.6 crore. The PAT margin for H1 FY27 stood at 45.7%, while the EBITDA margin improved to 60.9% from 57.8% in the year-ago period.
As reported by The Economic Times, demand for both lab-grown and natural diamonds remains strong, particularly as the festive season approaches, prompting retailers and manufacturers to anticipate a surge in sales across their segments. IGI Managing Director and CEO Tehmasp Printer noted that lab-grown diamonds have started to witness higher adoption, while natural diamonds and gemstones remain a key growth lever for 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. 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. With the jewellery industry approaching a crucial sales period, seasonal demand is expected to remain an important factor for IGI's business, as the company sees activity build ahead of India's festive season and the holiday ordering cycle in the United States.
Growth was broad-based across all business segments during Q2 FY27. Lab-grown diamond loose stones grew 37% year-on-year, while lab-grown diamond jewellery increased 47%. Natural diamond loose stones grew 8%, natural diamond jewellery 3%, and coloured gemstones increased sevenfold. The company delivered 4.35 million reports in Q2 FY27, a 26% increase year-on-year, and 7.91 million reports in H1 FY27, up 22%. According to Printer, the company is seeing encouraging trends across all business segments, with the festive season approach and holiday ordering cycles creating positive momentum for the diamond certification industry. The company's category-neutral approach of certifying natural diamonds, lab-grown diamonds, jewellery and coloured gemstones provides independent, consistent assurance to buyers and sellers.
According to latest market reports, IGI shares have gained 12% over the past week and 6% over three months, with the stock's six-month advance standing at 3% and rising 6% over the past year. At Friday's high of ₹374.05, the stock was around 3.5% below its 52-week high of ₹388 recorded in May 2026, while its 52-week low stands at ₹287.25 touched in January 2026. Technical analysts suggest a buy-on-dips strategy near the immediate support of ₹340, with key resistance levels at ₹390 and ₹400. Printer highlighted that the company is well positioned to capitalise on opportunities through its global footprint, diversified certification portfolio and continued investments in technology, brand and customer engagement. The company's global presence and category-neutral approach position it to support sustainable long-term growth in the evolving diamond certification landscape, with India's growing domestic consumption and manufacturing capabilities supporting the industry's upward trajectory.
