The Business Bytes
THEBUSINESSBYTES BUREAU
MUMBAI, FEBRUARY 28, 2025
The Board of Directors of Blackstone-backed International Gemmological Institute (IGI), a global leader in grading and accreditation services, has announced impressive financial results for Calendar Year 2024 (CY24). The company recorded a 17 per cent increase in consolidated revenue, reaching Rs. 10,531.6 million, along with a 29 per cent growth in Profit After Tax (PAT) to Rs. 4,272.9 million. The EBITDA rose by 21 per cent to Rs. 5,997.1 million, reflecting a strong operational performance and a robust 57 per cent EBITDA margin.
IGI’s fourth-quarter performance was equally remarkable, with revenue growing by 6 per cent YoY to Rs. 2,650 million, while EBITDA and PAT saw increases of 18 per cent and 45 per cent, respectively. The PAT margin expanded to 42.9 per cent.
The company also made significant strides in expanding its global footprint, completing the acquisition of IGI Belgium and IGI Netherlands for Rs. 13,458.2 million in December 2024. As part of its positive momentum, IGI’s Board recommended an interim dividend of Rs. 2.44 per share.
Tehmasp Printer, Managing Director and CEO of IGI, emphasized the company’s leadership in diamond certification, noting its 33 per cent global market share in diamond grading and 65 per cent in lab-grown diamonds. The recent acquisitions will further strengthen IGI’s reach, positioning it for continued growth and innovation.
Eashwar Iyer, Global CFO of IGI, highlighted the company’s strategic execution and the strong demand for its services. With the group now consolidated under India, IGI aims to leverage its global presence, focusing on manufacturing, polishing, and retail expansion across key markets including the USA, Europe, and China.
