International Gemological Institute Limited

International Gemological Instit Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

International Gemological Institute Limited

₹ 328 -5.08%
24 Jul 11:11 a.m.
igi.org BSE: 544311 NSE: IGIL
About

International Gemological Institute Ltd is
world's largest independent certification and acccreditation services provider in the fields
of diamond, gemstone and jewellery[1]

Key Points

Business Overview:[1][2]
International Gemological Institute Limited (IGII) is a global leader in certifying diamonds, gemstones, and jewelry. Backed by Blackstone, this 50-year-old Belgian-founded institution is India’s largest independent gemological laboratory.

Website BSE NSE
  • Market Cap ₹ 14,175 Cr.
  • Current Price ₹ 328
  • High / Low ₹ 442 / 287
  • Stock P/E 23.6
  • Book Value ₹ 60.0
  • Dividend Yield 0.71 %
  • ROCE 42.6 %
  • ROE 32.5 %
  • Face Value ₹ 2.00
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Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 44.0% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 48.8%

Cons

  • Working capital days have increased from 77.2 days to 171 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Services Services Commercial Services & Supplies Diversified Commercial Services

Part of BSE 500 Nifty 500 BSE 250 SmallCap Index BSE 400 MidSmallCap Index Nifty MidSmallcap 400

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
184 209 197 189 190 234 234 241 247 296 286
55 43 72 48 48 52 63 65 75 77 89
Operating Profit 129 166 125 141 142 182 171 175 172 220 197
OPM % 70% 79% 63% 75% 75% 78% 73% 73% 70% 74% 69%
5 7 12 5 8 10 15 12 15 16 16
Interest 1 1 1 1 1 1 1 0 1 0 1
Depreciation 3 4 5 2 3 4 4 4 5 5 6
Profit before tax 131 168 131 143 146 188 181 182 181 230 206
Tax % 33% 25% 27% 25% 23% 26% 24% 24% 27% 24% 25%
88 126 96 108 112 139 137 139 132 174 155
EPS in Rs 2.42 2.72 2.58 3.22 3.18 3.22 3.04 4.03 3.58
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2019 Mar 2020 Dec 2020 9m Dec 2021 Dec 2022 Dec 2023 Dec 2024 TTM
205 210 130 365 491 636 785 1,070
101 91 66 124 154 183 213 306
Operating Profit 104 119 64 241 337 453 572 764
OPM % 51% 57% 49% 66% 69% 71% 73% 71%
6 3 3 10 9 11 31 59
Interest 2 1 1 2 2 2 2 3
Depreciation 6 12 9 12 11 13 14 20
Profit before tax 101 110 57 236 332 449 587 800
Tax % 30% 28% 28% 25% 26% 27% 25%
71 79 41 177 244 330 439 599
EPS in Rs 10.16 13.87
Dividend Payout % 108% 0% 0% 0% 0% 0% 24%
Compounded Sales Growth
10 Years: %
5 Years: 31%
3 Years: 29%
TTM: 26%
Compounded Profit Growth
10 Years: %
5 Years: 44%
3 Years: 35%
TTM: 21%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: -16%
Return on Equity
10 Years: %
5 Years: 50%
3 Years: 49%
Last Year: 32%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2019 Mar 2020 Dec 2020 Dec 2021 Dec 2022 Dec 2023 Dec 2024 Jun 2025
Equity Capital 0.39 0.39 0.39 0.39 0.40 0.40 86 86
Reserves 126 175 218 248 341 516 2,101 2,273
0 0 0 0 0 31 31 26
15 26 47 78 70 63 235 121
Total Liabilities 142 202 266 326 412 610 2,453 2,505
69 73 73 76 108 115 119 122
CWIP 0 0 0 10 0 20 36 45
Investments 0 0 0 0 0 3 1,349 1,349
73 129 193 240 303 471 949 989
Total Assets 142 202 266 326 412 610 2,453 2,505

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2019 Mar 2020 Dec 2020 Dec 2021 Dec 2022 Dec 2023 Dec 2024
108 101 77 194 199 299 378
-52 -11 -6 -21 -48 -68 -1,634
-75 -37 -8 -146 -154 -149 1,210
Net Cash Flow -19 53 63 27 -3 81 -46
Free Cash Flow 51 85 68 167 189 261 352
CFO/OP 139% 109% 138% 101% 88% 95% 91%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2019 Mar 2020 Dec 2020 Dec 2021 Dec 2022 Dec 2023 Dec 2024
Debtor Days 33 40 77 34 47 62 67
Inventory Days
Days Payable
Cash Conversion Cycle 33 40 77 34 47 62 67
Working Capital Days 25 18 -9 -16 26 34 171
ROCE % 73% 33% 102% 113% 102% 43%

Insights

In beta
Dec 2021 Dec 2022 Dec 2023 Dec 2024 Dec 2025
LGD Certification Revenue
INR Mn

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ND Certification Revenue
INR Mn
Number of Reports Certified
million reports
Number of Gemologists
number
Number of Labs
number
Average Realized Price per Report
INR per report
LGD Jewelry Certification Revenue
INR Mn
ND Jewelry Certification Revenue
INR Mn

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
76.55% 76.55% 76.55% 76.55% 76.55% 76.55% 76.55%
9.10% 9.87% 10.18% 10.55% 9.61% 8.60% 9.49%
5.87% 5.88% 5.44% 5.15% 5.44% 6.38% 5.51%
8.47% 7.69% 7.82% 7.75% 8.39% 8.46% 8.44%
No. of Shareholders 1,87,3561,86,4021,90,2861,87,0281,83,9501,87,3431,72,894

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

Announcements

Annual reports

DRHP

Concalls