International Gemological Institute Ltd · NSE:IGIL
International Gemological Institute — International Gemmological Institute (India) — Q1 CY25 Earnings Presentation
45 slides from International Gemological Institute's earnings presentation, Apr 21, 2025
Slide 1: Cover letter to stock exchanges
April 21, 2025 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/ M
Slide 2: A Legacy of Trust. A Future of Innovation.
A Legacy of Trust. A Future of Innovation. International Gemmological Institute (India) Limited Investor Presentation | Q1 CY25
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by International Gemmological Institute (India) Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purcha
Slide 4: Table of Contents
Table of Contents Table of content 01 Consolidated Results 05 Strategic Pillars 02 Company Snapshot 06 Annexure A - Standalone Results Company Overview Annexure B - Historical Financial 03 07 Performance 04 Industry Overview
Slide 5: Consolidated Results
CONSOLIDATED RESULTS
Slide 6: Performance Highlights – IGI Consolidated
Performance Highlights – IGI Consolidated Q1 CY25 v Q4 CY24 (QoQ) Q1 CY25 v Q1 CY24 (YoY) • The Group’s consolidated business performance has continued to see strong • The Group’s consolidated business performance has continued to see strong momentum during Q1 CY25 momentum during Q1 CY25 • Total re
Slide 7: Q1 CY25 Financial Performance – IGI Consolidated
Q1 CY25 Financial Performance – IGI Consolidated Number of Reports (in Mn) Certification Revenue +27% +11% +13% +20% 3.1 2,967 2.8 2,669 2,464 2.5 Q1 CY24 Q4 CY24 Q1 CY25 Q1 CY24 Q4 CY24 Q1 CY25 EBITDA(1) & EBITDA Margin (%) PAT & PAT Margin (%) 62.4% 57.4% 64.2% 45.4% 42.9% 46.2% +13% +12% +29% +24
Slide 8: Certification Revenue: Consolidated Segmental Breakdown
Certification Revenue: Consolidated Segmental Breakdown Q1 CY25 v Q4 CY24 QoQ Q1 CY25 v Q1 CY24 YoY Growth Growth +20% +11% 2,967 2,967 16.4% 37% 2,669 16.4% 1% 2,464 18.0% 14.4% 53.8% 35% 53.8% 9% 47.9% 55.1% -11% 21% 28.9% 21.4% 21.4% 16% 19.6% 87% 6.8%% 2.0% 6.6% 1.9% 14% 3.9% 6.6% -39% 3.4% 1.9%
Slide 9: Consolidated Income Statement – Q1 CY25 v Q4 CY24 (QoQ)
Consolidated Income Statement – Q1 CY25 v Q4 CY24 (QoQ) Particulars (in INR Mn) Q4 CY24 Q1 CY25 QoQ # Reports (Mn) 2.77 3.12 13% Certification Revenue 2,464 2,967 20% Total volumes for Q1 stood at 3.12 Mn reports vs 2.77 Mn 01 ND 354 485 37% reports in Q4 CY24 – registering a growth of 13% QoQ LGD 1
Slide 10: Consolidated Income Statement – Q1 CY25 v Q1 CY24 (YoY)
Consolidated Income Statement – Q1 CY25 v Q1 CY24 (YoY) Particulars (in INR Mn) Q1 CY24 Q1 CY25 YoY # Reports (Mn) 2.47 3.12 27% Certification Revenue 2,669 2,967 11% 01 Total volumes for Q1 CY25 stood at 3.12 Mn reports vs 2.47 ND 479 485 1% Mn reports in Q1 CY24 – registering a growth of 27% YoY L
Slide 11: Company Snapshot
COMPANY SNAPSHOT
Slide 12: India's largest diamond and jewelry certifying body
India’s largest diamond and jewelry certifying body A first mover advantage in India and a strong position in the global market 50% 33% 65% India Global Global Lab-Grown Market Share(1) Market Share(2) Diamond Market Share(3) Source: Redseer Industry Report, August 2024 Note: 1. IGI is the largest i
Slide 13: IGI - Key Highlights
IGI - Key Highlights World’s premier diamond accreditation agency leveraging global reach, expertise and technology Market Financial Global Customer Growth Share Performance Presence Roster Revenue Revenue Growth (YoY) 50% India Market Share 10 Countries 7,500+ Customers Globally CY24: INR 10,532 Mn
Slide 14: Company Overview
GI COMPANY OVERVIEW
Slide 15: A rich legacy of 50 years globally & 25 years in India
A rich legacy of 50 years globally & 25 years in India 2025 Our Select Innovations 2024 To celebrate 2021 50 years of operations Listed on 2020 Set up “in- Indian Stock Exchanges factory” labs 2018 Expansion of for LGD education growers in 2005 Introduced the services to India Dcheck digital 1999 Sy
Slide 16: Providing a full stack of comprehensive service offerings to customers
Providing a full stack of comprehensive service offerings to customers Lab-Grown Diamond Natural Diamond Jewelry, Colored Education & Others Certification Certification Stones & Other Certifications 4C-based Certification HPHT / CVD Identification Tailored Courses Sorting & Screening of Lab- Indepen
Slide 17: We serve every customer category in the jewelry value chain
We serve every customer category in the jewelry value chain Jewelry Value Chain Consumers Diamond Manufacturers Wholesalers Jewelry Manufacturers Retailers and Brands and Growers Multiple Service Delivery Formats Strengthen Customer Relationships IGI Labs In-factory Labs Mobile Labs IGI School of Ge
Slide 18: Our global presence
Our global presence Largest Global Network(1) Established in all Key, Wide Presence in India - Supplier with High-Quality Talent Global Jewelry Hubs of 95% of All Polished Diamonds(2) 31 12 India Chandigarh In-Factory Lab New Delhi IGI Labs Set-ups Jaipur Lucknow Belgium United States Italy Kolkata
Slide 19: Experienced, professional management team
Experienced, professional management team Tehmasp Nariman Printer MD & Chief Executive Officer Lata Manghnani Van Es Robert Business Head - India Country Head - Hong Kong & Thailand 25+ years with IGI Eashwar Subramanian Iyer Kareena Shahani Johan Roy Dsouza India Head - Laboratory & Chief Financial
Slide 20: Pedigreed and independently-led board of directors
Pedigreed and independently-led board of directors BIMAL TANNA Chairman and Independent Director Ex-Partner, PwC (20+ years of experience) Director on Boards of Jio Financial Services, Kirloskar Pneumatic, Kalpataru Projects International TEHMASP NARIMAN PRINTER MUKESH MEHTA Managing Director & Chie
Slide 21: Shareholding pattern
Shareholding pattern Shareholding Pattern (31st March 2025) Key Institutional Investors 7.7% Investor % Holding 5.9% Promoter (Blackstone) 76.6% 9.9% Top DIIs (Banks, MFs, AIFs and Insurance) 5.9% ICICI Prudential AMC 1.6% Top FPIs / FIIs 9.9% 76.6% Government of Singapore 2.0% Promoter FIIs DIIs Pu
Slide 22: Industry Overview
INDUSTRY OVERVIEW
Slide 23: Diamond jewelry is the fastest growing in the global gems and jewelry market
Diamond jewelry is the fastest growing in the global gems and jewelry market Overall global retail diamond jewelry consumption(1,2) Key growth drivers USD Bn Increasing Consumer Adoption of LGDs Driven by increasingly aspirational purchase choices and higher jewelry wallet share CY28E ~$140 Bn Entry
Slide 24: Gems and jewelry certification is a fast-growing market with high barriers to entry
Gems and jewelry certification is a fast-growing market with high barriers to entry Loose gemstone & studded jewelry certification market IGI advantage USD Mn Overall CY23-28E Brand heritage of ~50 years in a market 65-70% 75-80% Penetration CAGR 01 with only 2 players of scale globally(1) $900 – 1,
Slide 25: India - the heart of the global diamond jewelry industry
India - the heart of the global diamond jewelry industry India will be the growth engine of the global diamond jewelry market India diamond jewelry market size (USD Bn) #1 Polisher Globally (1) 95% India’s Market Share in Global ~20% CAGR Diamond Polishing ~ 25 #2 LGD Producer Globally 35% India’s M
Slide 26: Lab-grown diamond market presents significant growth opportunities
Lab-grown diamond market presents significant growth opportunities Global cut and polished (gem-quality) LGD production Increasing share of LGDs in global diamond production volume In Million Carats, CY19-CY23E, CY28P +20% CY19 9% 12-15 Volume CY24 18% 6 3 3 27-29 2019 2020 2023E 2028P ~ ~ Key Drive
Slide 27: Strategic Pillars
-@7-4 Sr a a a ae Se eae LAA A 4 - Ne a? od ee ae a o STRATEGIC PILLARS
Slide 28: Vision statement
Vision statement To become the global leader in accreditation services, leveraging cutting-edge technology and innovation to ensure trust, transparency, and excellence in the diamond and jewelry industry
Slide 29: Our value proposition
Established financial track record Our value proposition With over 50 years of expertise, IGI is a trusted authority in certifying diamonds, jewelry and colored stones, ensuring quality and integrity. By empowering consumers with reliable information, IGI fosters trust and value in every purchase St
Slide 30: Strategic imperatives
Strategic imperatives Maintain Leadership in Lab-grown Diamond Continue to Expand Presence in Natural Segment Diamond, Jewelry & Colored Stones Through partnerships and by serving as Leverage the 1st mover advantage in a “one-stop solution” for all the fast-growing LGD segment certification needs Ex
Slide 31: Maintain leadership in lab-grown diamond segment
Maintain leadership in lab-grown diamond segment Global Market Leader ~2 out of 3 Lab-grown Diamonds are Certified by IGI Global LGD Market Share of IGI ~65% IGI is the #1 accreditation agency for Lab- Grown Diamond globally with a 65% market share We are integrated into facilities of select, high v
Slide 32: Continue to expand presence in natural diamond, jewelry & colored stones
Continue to expand presence in natural diamond, jewelry & colored stones • IGI is one of the largest independent certification and accreditation services providers holding approximately 50% market share in India and 33% market share globally in terms of number of certifications for diamonds, studded
Slide 33: Leverage educational platform to fuel expansion
Leverage educational platform to fuel expansion Our Schools of Gemology are a Critical Component of Our Value Proposition Drives IGI’s brand Expands market awareness opportunity Diamond Courses Colored Stone Courses Retail support programs Enables new customer for sales teams of brands acquisition a
Slide 34: Best-in-class technical capabilities and highest grading standards
Best-in-class technical capabilities and highest grading standards First ISO-certified lab in both Natural Diamond & LGD State-of-the-art technology Raman Microscope – A sophisticated instrument that allows users to pinpoint D-Check Machine – A screening instrument that can identify laboratory grown
Slide 35: Scale up investments for brand salience
Scale up investments for brand salience Brand campaign initiated in January 2025, In India before we scale it up across geographies during the year IGI: Trust, Certified Objective: Build on the IGI brand strength & enlarge the scope to engage with the retailers & the final consumers 34
Slide 36: Annexure A - Standalone Results
Annexure A - STANDALONE RESULTS
Slide 37: Performance Highlights – IGI India Standalone
Performance Highlights – IGI India Standalone Q1 CY25 v Q4 CY24 (QoQ) Q1 CY25 v Q1 CY24 (YoY) • The India business continued to exhibit strong revenue growth momentum in Q1 • The India business continued to exhibit strong revenue growth momentum in Q1 CY25 CY25 • Total report volumes for Q1 CY25 sto
Slide 38: Q1 CY25 Financial Performance – IGI India Standalone
Q1 CY25 Financial Performance – IGI India Standalone Number of Reports (in Mn) Certification Revenue +27% +13% +11% +30% 2.8 2,330 2.5 2,068 2.2 1,798 Q1 CY24 Q4 CY24 Q1 CY25 Q1 CY24 Q4 CY24 Q1 CY25 EBITDA(1) & EBITDA Margin (%) PAT & PAT Margin (%) 79.4% 74.6% 77.6% 60.1% 58.7% 59.4% +10% +11% +28%
Slide 39: Certification Revenue: IGI India Standalone Segmental Breakdown
Certification Revenue: IGI India Standalone Segmental Breakdown Q1 CY25 v Q4 CY24 QoQ Q1 CY25 v Q1 CY24 YoY Growth Growth +30% +13% 2,330 2,330 51% 2,068 17.4% 3% 17.4% 19.0% 1,798 14.9% 44% 56.6% 5% 56.6% 50.9% 60.9% 4% 39% 24.9% 20.1% 20.1% 105% -19% 16.3% 14% 0.7% 5.5% 0.4% -40% 8.9% 0.4% 5.5% 0.
Slide 40: IGI India Standalone Income Statement – Q1 CY25 v Q4 CY24 (QoQ)
IGI India Standalone Income Statement – Q1 CY25 v Q4 CY24 (QoQ) Particulars (in INR Mn) Q4 CY24 Q1 CY25 QoQ # Reports (Mn) 2.50 2.78 11% Certification Revenue 1,798 2,330 30% Total volumes for Q1 stood at 2.78 Mn reports vs 2.5 Mn 01 ND 268 404 51% reports in Q4 2024 – registering a growth of 11% Qo
Slide 41: IGI India Standalone Income Statement – Q1 CY25 v Q1 CY24 (YoY)
IGI India Standalone Income Statement – Q1 CY25 v Q1 CY24 (YoY) Particulars (in INR Mn) Q1 CY24 Q1 CY25 YoY # Reports (Mn) 2.20 2.78 27% Certification Revenue 2,068 2,330 13% Total volumes for Q1 stood at 2.78 Mn reports vs 2.2 Mn 01 ND 393 404 3% reports in Q1 2024 – registering a growth of 27% YoY
Slide 42: Annexure B - Historical Financial Performance
ANNEXURE B - HISTORICAL FINANCIAL PERFORMANCE
Slide 43: CY24 standalone financial performance
CY24 standalone financial performance Number of Reports (in Mn) Revenue from Operations EBITDA & EBITDA Margin (%) 66.0% 68.6% 71.2% 72.8% +29.5% 9.3 CAGR +29.1% +33.5% 7.2 CAGR CAGR 5.9 7,854 5,721 4.3 6,362 4,527 4,909 3,365 3,647 2,406 CY21 CY22 CY23 CY24 CY21 CY22 CY23 CY24 CY21 CY22 CY23 CY24 P
Slide 44: CY24 consolidated financial performance
CY24 consolidated financial performance(1) Number of Reports (in Mn) Revenue from Operations EBITDA & EBITDA Margin (%) 55.2% 56.9% +26% +17% 10.5 10,532 +21% 8.3 8,980 5,997 4,960 CY23 CY24 CY23 CY24 CY23 CY24 PAT & PAT Margin (%) Return on Capital Employed(2,3) (%) Return on Equity(2,4) (%) 36.8%
Slide 45: Thank You
Thank You COMPANY : International Gemmological Institute (India) Limited CIN : U46591MH1999PLC118476 Mr. Hardik Desai Tel: 022-40352550 E-mail: investor.relations@igi.org www.igi.org INVESTOR RELATIONS ADVISORS : MUFG Intime India Private Limited A part of MUFG Corporate Markets, a division of MUFG
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