International Gemological Institute Ltd · NSE:IGIL
International Gemological Institute — Investor Day (August 2026)
54 slides from International Gemological Institute's investor day presentation, Aug 3, 2026
Slide 1: Exchange filing cover letter
August 3, 2026 To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G Dalal Street, Fort, Bandra Kurla Complex Mumbai - 400 001 Bandra (East), Mumbai - 400 051 BSE Scrip Code: 544311 NSE Symbol: IGIL Subject: Investor Presentation Dear Sir/Ma
Slide 2: Investor Day 2026: Trust Makes It Priceless
INVESTOR DAY 2026 AUGUST 03, 2026 | GRAND HYATT, MUMBAI EACH PRECIOUS STONE HAS A VALUE TRUST MAKES IT PRICELESS CERTIFYING TRUST FOR OVER 50 YEARS EDUCATION NATURAL DIAMOND LAB - GROWN DIAMOND GEMSTONE JEWELRY THE FUTURE IS CERTIFIED TRUST. INNOVATION. TOMORROW 1
Slide 3: Safe Harbor
SAFE HARBOR This presentation and the accompanying slides (the “Presentation”), which have been prepared by International Gemological Institute Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or sub
Slide 4: Four Chapters That Define IGI
FOUR CHAPTERS THAT DEFINE IGI 01 Trust Creates Value Across every ambition, every milestone and every legacy. 02 Why IGI Leads Brand, scale and standards compound into a moat. 03 The Growth Outlook Every structural force increases the need to certify. 04 The Value - Creation Case A high - margin, ca
Slide 5: Trust Creates Value
CHAPTER 01 TRUST CREATES VALUE Certification is a form of trust. Presented By: Mr. Tehmasp Printer (MD & Global CEO) 4
Slide 6: The Trust Layer, by Industry
Chapter 1 :Trust Creates Value THE TRUST LAYER, BY INDUSTRY Banking Public Markets Healthcare Manufacturing Credit Rating Independent Auditors Clinical Testing & Reports Quality Certification 5
Slide 7: Now Imagine the World Without Them
Chapter 1 :Trust Creates Value NOW IMAGINE THE WORLD WITHOUT THEM. 6
Slide 8: Chaos
Chapter 1 :Trust Creates Value CHAOS. NO BENCHMARK. NO REGULATION. NO CONFIDENCE. NO TRUST. 7
Slide 9: Every Year, Billions of Dollars of Diamonds Change Hands
Chapter 1 :Trust Creates Value EVERY YEAR, BILLIONS OF DOLLARS OF DIAMONDS CHANGE HANDS. Across the entire supply chain. Mine Manufacturer Trader Retailer Consumer Grower Cutter & Polisher Trader Retailer Consumer But no one can independently determine its true value. 8
Slide 10: People Don't Buy Diamonds
Chapter 1 :Trust Creates Value PEOPLE DON’T BUY DIAMONDS. THEY BUY Love Commitment Legacy Memory The diamond is simply the physical representation. 9
Slide 11: This Industry Needs a Trust Layer as Well
Chapter 1 :Trust Creates Value THIS INDUSTRY NEEDS A TRUST LAYER AS WELL. 10
Slide 12: The Trust Layer, by Industry: IGI
Chapter 1 :Trust Creates Value THE TRUST LAYER, BY INDUSTRY Banking Public Markets Healthcare Manufacturing Diamond & Jewelry Credit Rating Independent Auditors Clinical Testing & Reports Quality Certification IGI 11
Slide 13: Why IGI Exists
Chapter 1 :Trust Creates Value None of this matters if the diamond isn't what it claims to be. WHY IGI EXISTS. To protect trust. 12
Slide 14: Why IGI Leads
CHAPTER 02 WHY IGI LEADS Brand strengthens trust Trust strengthens scale Scale reinforces leadership Leadership strengthens the brand Presented By: Mr. Manu Sharma (Chief Operating Officer) Ms. Kareena Shahani (India Head - Laboratory & Operations) 13
Slide 15: Five Traits That Rarely Coexist in One Company
Chapter 2 : Why IGI Leads FIVE TRAITS THAT RARELY COEXIST IN ONE COMPANY Any one of these is valuable. Together they are very hard to assemble. 01 02 03 04 05 Fifty year Global, Independent Category - Industry’s talent legacy locally present agnostic pipeline Decades of trust 37 laboratories across
Slide 16: Fifty Years and a Habit of Being First
Chapter 2 : Why IGI Leads FIFTY YEARS - AND A HABIT OF BEING FIRST First to market at nearly every inflection the industry has faced. 1975 1999 2018 2023 2026 Founded in Antwerp, First mover in Used photoluminescence Blackstone acquires Acquires American Belgium, the then diamond India technology to
Slide 17: Our Global Footprint
Chapter 2 : Why IGI Leads OUR GLOBAL FOOTPRINT One of the world's leading independent certification franchises. 1988 1975 Thailand Belgium 1 1980 1 1 USA 21 30 - 40% 3 1 2023 Türkiye 2001 UAE 2010 China 4 Schools Global market share 1 3 of gemology, 10 countries of certifications 1 37 40 - 50% Labor
Slide 18: Independent Trust. Every Step. Every Time.
Chapter 2 : Why IGI Leads INDEPENDENT TRUST. EVERY STEP. EVERY TIME. Upholds integrity for trade and consumer at every stage Enables Trusted Creates Supports Improves Strengthens transactions transparency price discovery market liquidity buyer confidence 17
Slide 19: We Are Category Agnostic
Chapter 2 : Why IGI Leads WE ARE CATEGORY AGNOSTIC 01 02 03 04 18
Slide 20: Foray into Colored Gemstones with AGL
Chapter 2 : Why IGI Leads WITH A FORAY INTO COLORED GEMSTONES Acquired American Gemological Laboratories (AGL) in January 2026 to strengthen IGI’s leadership in this emerging category AGL BRINGS IGI BRINGS TOGETHER ❖ Pioneer of colored - stone origin ❖ Global presence ❖ Colored stones certified glob
Slide 21: We Don't Just Grade the World's Stones - We Train
Chapter 2 : Why IGI Leads WE DON'T JUST GRADE THE WORLD'S STONES - WE TRAIN THE PEOPLE WHO DO IGI's Schools of Gemology are a rare, self - reinforcing asset: they supply our own talent, set the industry's standard, and deepen the brand with every graduate. 21 1000’s 50 yrs Why a school is a strategi
Slide 22: Complemented by a Proven Leadership Team
Chapter 2 : Why IGI Leads COMPLEMENTED BY A PROVEN LEADERSHIP TEAM Tehmasp Nariman Printer MD & Global Chief Executive Officer Manu Eashwar Kareena Shahani Lata Sharma Subramanian Iyer Manghnani Global Chief Global India Head Laboratory Business Head Operating Officer Chief Financial Officer & Opera
Slide 23: The Science Behind Trust
A CLOSER LOOK THE SCIENCE BEHIND TRUST How the standard is delivered, improved and scaled - the process behind the grade. Presented By: Ms. Kareena Shahani (India Head - Laboratory & Operations) 22
Slide 24: What Makes a Stone into a Valuable Gemstone?
Chapter 2 : Why IGI Leads WHAT MAKES A STONE INTO A VALUABLE GEMSTONE? Every valuable stone begins with a question THE BUYER’S DOUBT CERTIFICATION “How do I know what I’m buying?” answers every question ❖ Is it genuine? ❖ Is it natural or lab - grown? ❖ Is the grading accurate? ❖ Is the seller's cla
Slide 25: 4 C's Define Quality. 5th C Defines Certification
Chapter 2 : Why IGI Leads 4 C’s THAT DEFINE QUALITY. 5 th C DEFINES CERTIFICATION. CUT COLOUR THE BENCHMARK PRICE GRID Craftsmanship - how How little tint the Colour x clarity, within a carat band - value falls right and down. the stone reflects light stone carries Ideal → Poor D→Z D E F G H I J Fan
Slide 26: Every Stone Travels the Scientific Path
Chapter 2 : Why IGI Leads EVERY STONE TRAVELS THE SCIENTIFIC PATH One controlled workflow, identical at every IGI laboratory - the source of a consistent, defensible grade. 01 02 03 04 Submission Cut analysis Origin determination Grading analysis Logged, sealed and given a Optical scan captures Iden
Slide 27: Transparency, Authenticity and Trust in Every Report
Chapter 2 : Why IGI Leads ENABLING TRANSPARENCY, AUTHENTICITY AND TRUST IN EVERY REPORT Our Grading Reports are Based on International Standards B C Key Features A 4C Grading Summary B Visual Presentation of D Physical A Characteristics Unique Identification C Code through LaserScribe E Internationa
Slide 28: We Are Reinventing for Scale
Chapter 2 : Why IGI Leads WE ARE REINVENTING FOR SCALE Process Reengineering for improved customer AI/ML Led Interventions experience Eliminate Redundancies Automated work allocation AI led process efficiency and scheduler Stones allocated to gemologists by demand, skill and governance rules Technol
Slide 29: The Growth Outlook
CHAPTER 03 THE GROWTH OUTLOOK Every structural force shaping the industry points to one conclusion : The Future is Certified. Presented By: Mr. Manu Sharma (Global Chief Operating Officer) Mr. Arnav Mehta (MD, Blue Star Diamonds) Mr. Rupesh Jain (Founder & CEO, Lucira ) Mr. Siddharth Sule (Global He
Slide 30: Growing Jewelry Consumption Fuels Certification Demand
Chapter 3: The Growth Outlook GROWING JEWELRY CONSUMPTION FUELS CERTIFICATION DEMAND Global Jewelry Market Size Overall Global Retail Diamond Number of Certifications Issued Certification Penetration Jewelry Consumption – by Volume CY2025 CY2025 CY2025 CY2025 $340 - 350 Bn $ 105 - 115 Bn 33- 38 Mn 7
Slide 31: Global Presence Is Our Competitive Strength
Chapter 3: The Growth Outlook GLOBAL PRESENCE IS OUR COMPETITIVE STRENGTH India United States Middle East & Europe Where we lead – and grow next The prize we are chasing Expansion 65 - 75% 50 –55% LGD loose certification Global retail market $80 –100M pool $50 –70B market 55–65% ~30% Studded jewelry
Slide 32: India Is Crossing the Income Line Where Diamond Demand Takes Off
Chapter 3: The Growth Outlook INDIA IS CROSSING THE INCOME LINE WHERE DIAMOND DEMAND TAKES OFF As per - capita income nears the discretionary - spend threshold, a fast - widening affluent base turns into diamond buyers - and lab - grown widens the on - ramp. The Engine · Rising per - capita income T
Slide 33: When the Bridge Tier Grows, the Luxury Tier Grows Faster
Chapter 3: The Growth Outlook WHEN THE BRIDGE TIER GROWS, THE LUXURY TIER GROWS EVEN FASTER The same income curve has already run through other categories - an affordable rung enlarged the whole market and the premium end grew fastest of all. Bridge to Luxury True Luxury Sector Mass / Entry Tier (Mi
Slide 34: Future of LGD Industry
EXPERT VOICE FUTURE OF LGD INDUSTRY Is lab - grown supply at its peak or its base? Presented By: Mr. Arnav Mehta MD, Blue Star Diamonds 33
Slide 35: Prices Have Stabilised and Volume Growth Continues
Chapter 3: The Growth Outlook THE PRICES HAVE STABILISED – AND THE VOLUME GROWTH CONTINUES LGD wholesale prices have stabilized since 2025 5- 6x growth in LGD production in the last 3 - 4 yrs Average LGD wholesale prices for 1 ct SI- VVS clarity, Gemstone LGD production capacity (Mn carats) D - F co
Slide 36: The Need for Certification Is Driven by Retail
Chapter 3: The Growth Outlook THE NEED FOR CERTIFICATION IS DRIVEN BY RETAIL Retail and Consumer Demand Drives Certification WHOLESALE 4X - 6X RETAIL MARKET ~$ 80 - $120 Value proposition for the emerging $300 - $700 consumer is significant – need for certification The fee (<5% of retail price) is a
Slide 37: Retail Landscape
EXPERT VOICE RETAIL LANDSCAPE How India is getting ready for the next big thing in jewelry through organized retail Presented By: Mr. Rupesh Jain (Founder & CEO, Lucira ) 36
Slide 38: India's Lab-Grown Retail Market Is Being Built Out Fast
Chapter 3: The Growth Outlook INDIA'S LAB - GROWN RETAIL MARKET IS BEING BUILT OUT - FAST Capital, brands and outlets are scaling the category on top of India's cutting - and - export base THE MONEY AND FOOTPRINT GOING IN Capital is funding Legacy jewellers the build - out entering LG Indian LGD bra
Slide 39: A Closer Look at the Brand
A CLOSER LOOK AT THE BRAND Extending Trust Beyond the Trade Presented By: Mr. Siddharth Sule Global Head - Marketing 38
Slide 40: A Two-Layer Moat
Chapter 3: The Growth Outlook A TWO - LAYER MOAT For 5 decades , IGI has been the trade’s most trusted authority. Our next chapter is to become the consumer’s most trusted certification brand. Brand Trust Reputation Recognition Consumer acceptance 39
Slide 41: Retailer Testimonials
Chapter 3: The Growth Outlook RETAILER TESTIMONIALS Consistency across markets Confidence at the counter Trust across diamond categories Across multiple markets, consistency Even our newer sales associates can pitch When they see that 100% of our products are IGI matters as much as craftsmanship. An
Slide 42: The Consumer Mindset Is Shifting
Chapter 3: The Growth Outlook THE CONSUMER MINDSET IS SHIFTING 52% 15% of diamonds acquired in of Indian women now own a India in 2025 are worn as natural diamond jewelry everyday wear (4pp increase over the last 3 years) 80% 86% The proportion of luxury demand for diamonds is sales that are digital
Slide 43: What Gives a Diamond Buyer Confidence
Chapter 3: The Growth Outlook WHAT GIVES A DIAMOND BUYER CONFIDENCE Six consumers reveal what helps them trust their purchase. Seeking certainty Looking for proof of Long - term value and on origin authenticity resale confidence "If I am paying for a diamond, I "Knowing that the diamond has “IGI cer
Slide 44: Building Demand from Both Sides of the Counter
Chapter 3: The Growth Outlook BUILDING DEMAND FROM BOTH SIDES OF THE COUNTER B2B B2C Strengthening trade adoption Creating consumer pull Own the Landscape - D Show | Co - branded certification | In - store Digital campaigns | In - store experience | Influencers Experience via Virtual Reality Multipl
Slide 45: Gaining Consumer Mindshare
Chapter 3: The Growth Outlook GAINING CONSUMER MINDSHARE “ “ Heere ki asli pehchaan Taking the IGI story to the end consumer 110M+ impressions 62% 24.2% 21.5M 5+ Appreciation in Increase in branded Unique audience reach Average frequency audience sentiment and search trust building of IGI Source : M
Slide 46: The Value-Creation Case
CHAPTER 04 THE VALUE - CREATION CASE High margin, cash generative, and levered to volume Presented By: Mr. Eashwar Iyer (Global Chief Financial Officer) 45
Slide 47: A Financial Profile Few Businesses Can Match
Chapter 4 : The Value Creation Case A FINANCIAL PROFILE FEW BUSINESSES CAN MATCH Rs. 15,976 Mn 16.5 Mn Rs. 9,728 Mn 60.9% (+18% YoY) (+20% YoY) (+22% YoY) (+230 bps) Revenue from Operations Certifications EBITDA EBITDA margin 15 M 2026 15 M 2026 15 M 2026 15 M 2026 Rs. 7,112 Mn 44.5% Rs. 8,005 Mn (+
Slide 48: A Proven Track Record of Consistent Growth
Chapter 4 : The Value Creation Case A PROVEN TRACK RECORD OF CONSISTENT GROWTH Number of Reports (in Mn) Revenue from Operations (Rs. Mn) EBITDA (Rs. Mn) & EBITDA Margin 12.8 12,291 5,997 7,367 8.3 10.6 8,980 10,532 4,960 12M CY2023 12M CY2024 12M CY2025 12M CY2023 12M CY2024 12M CY2025 12M CY2023 1
Slide 49: Seasonal by Nature, So YoY Is the Honest Lens
Chapter 4 : The Value Creation Case SEASONAL BY NATURE – SO YOY IS THE HONEST LENS Consolidated Certification Revenue (Rs. Mn) +18% 3,587 3,598 +20% 3,049 2,967 2,921 2,941 +10% 2,669 2,484 2,453 2,469 2,435 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q4 i
Slide 50: Consistent YoY Growth Over the Last Two Quarters
Chapter 4 : The Value Creation Case CONSISTENT YoY GROWTH OVER THE LAST TWO QUARTERS Number of Reports (in Mn) Revenue from Operations (Rs. Mn) EBITDA (Rs. Mn) & EBITDA Margin (%) YoY Growth % 16.7% 17.5% YoY Growth % 20.9% 23.2% YoY Growth % 20.6% 29.0% 3.64 3.56 3,686 3,708 2,360 2,238 3.12 3.03 3
Slide 51: How We Think About the Cash We Generate
Chapter 4 : The Value Creation Case HOW WE THINK ABOUT THE CASH WE GENERATE A simple, consistent capital - allocation philosophy: fund growth first, then return surplus cash to shareholders - so you own a compounding business that also pays. Our order of priorities 01 02 03 04 Reinvest in organic Se
Slide 52: The Risks and How We Manage Them
Chapter 4 : The Value Creation Case THE RISKS - AND HOW WE MANAGE THEM Risk How we manage it Lab - grown price pressures Revenue tracks certification volume, not stone price - volumes +20%; building for scale Diversification across format (loose, jewelry, coloured ), geography (US, Europe, Middle Ea
Slide 53: A Structurally High-Quality Business
Chapter 4 : The Value Creation Case A STRUCTURALLY HIGH - QUALITY BUSINESS Brand - led Asset - light Scalable Pricing power from a trusted name Capability, not capital, is the Standards replicate across core asset geographies High - margin Cash generative Network effects Value tied to trust, not mat
Slide 54: Stones May Change. Trust Does Not.
STONES MAY CHANGE. TRUST DOES NOT. IGI · The Pinnacle of Trust in Jewelry THE STANDARD When the world needs to trust a stone, it asks for an IGI. THE FUTURE IS CERTIFIED TRUST. INNOVATION . TOMORROW 53
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