International Gemological Institute Ltd · NSE:IGIL
International Gemological Institute — International Gemmological Institute (India) — Q4 CY24 Earnings Presentation
42 slides from International Gemological Institute's earnings presentation, Mar 3, 2025
Slide 1: Revised Investor Presentation filing letter
March 03, 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: Revised Investor Presentation Dea
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 | Q4 & CY24
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: Company Snapshot
COMPANY SNAPSHOT
Slide 5: 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 6: Performance highlights – CY24 standalone results
Performance highlights – CY24 standalone results 7,854 / 23% 5,721 / 26% 4,392 / 33% Revenue (INR MM) / EBITDA (INR MM) / PAT (INR MM) / YoY Growth % YoY Growth % YoY Growth % 70% / 68% 73% 56% EBITDA PAT ROCE % (1,2) / ROE% (1,3) Margin % Margin % Delivered Strong ROCE and ROE 2% YoY Margin Improve
Slide 7: Performance highlights – CY24 consolidated results
Performance highlights – CY24 consolidated(1) results 10,532 / 17% 5,997 / 21% 4,273 / 29% Revenue (INR MM) / EBITDA (INR MM) / PAT (INR MM) / YoY Growth % YoY Growth % YoY Growth % 48% / 47% 57% 41% EBITDA PAT ROCE % (2,3,4) / ROE% (2,3,5) Margin % Margin % Delivered Strong ROCE and ROE 2% YoY Marg
Slide 8: IGI - CY24 key highlights
IGI - CY24 key highlights World’s premier diamond accreditation agency leveraging global reach, expertise and technology Market Financial Global Customer Growth Share Performance Presence Roster 50% India Market Share INR 10,532 MM Revenue CY24 Revenue: 17% YoY 10 Countries 7,500+ Customers Globally
Slide 9: Financial Highlights - Standalone
FINANCIAL HIGHLIGHTS - STANDALONE
Slide 10: CY24 financial performance
CY24 financial performance Number of Reports (in MM) 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 PAT & PAT Ma
Slide 11: Q4 CY24 financial performance
Q4 CY24 financial performance Revenue from Operations EBITDA & EBITDA Margin (%) PAT & PAT Margin (%) 70.3% 74.6% 47.9% 58.7% +3% +10% +27% 1,903 1,419 1,117 1,840 1,295 881 Q4 CY23 Q4 CY24 Q4 CY23 Q4 CY24 Q4 CY23 Q4 CY24 All figures in INR MM 10
Slide 12: Financial Highlights - Consolidated
FINANCIAL HIGHLIGHTS - CONSOLIDATED
Slide 13: CY24 financial performance (consolidated)
CY24 financial performance(1) Number of Reports (in MM) 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% 40.6% Adjuste
Slide 14: Q4 CY24 financial performance
Q4 CY24 financial performance Revenue from Operations EBITDA & EBITDA Margin (%) PAT & PAT Margin (%) 51.4% 57.4% 31.4% 42.9% +6% +18% +45% 2,650 1,522 1,138 2,499 1,285 784 Q4 CY23 Q4 CY24 Q4 CY23 Q4 CY24 Q4 CY23 Q4 CY24 All figures in INR MM 13
Slide 15: Company Overview
GI COMPANY OVERVIEW
Slide 16: 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 17: 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 18: 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 19: 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 20: Experienced, professional management team
Experienced, professional management team Tehmasp Nariman Printer MD & Global 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 & Global C
Slide 21: 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 22: Shareholding pattern
Shareholding pattern Key Institutional Investors Shareholding Pattern (31st December 2024) Investor % Holding Promoter (Blackstone) 76.6% 8.5% Top DIIs (Banks, MFs, AIFs and Insurance) 5.9% 5.9% ICICI Prudential AMC 1.3% 9.1% Motilal Oswal AMC 0.9% SBI Life Insurance 0.7% Top FPIs / FIIs 9.1% 76.6%
Slide 23: Industry Overview
INDUSTRY OVERVIEW
Slide 24: 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 25: 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 MM 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 26: 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 27: 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 28: Strategic Pillars
-@7-4 Sr a a a ae Se eae LAA A 4 - Ne a? od ee ae a o STRATEGIC PILLARS
Slide 29: 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 30: 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 31: 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 32: 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 33: 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 34: 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 35: 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 36: 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 35
Slide 37: Financial Information
FINANCIAL INFORMATION
Slide 38: Standalone income statement
Standalone income statement Particulars (in INR MM) Q4 CY24 Q4 CY23 YoY Q3 CY24 QoQ CY24 CY23 YoY Revenue from Operations 1,902.9 1,840.4 3.4% 1,892.4 0.6% 7,854.2 6,362.0 23.5% Purchases of stock in trade 3.7 4.1 14.8 36.5 39.1 Change in inventories of stock-in-trade 8.0 1.1 -4.9 1.0 -6.1 Employee
Slide 39: Consolidated income statement
Consolidated income statement Particulars (in INR MM) Q4 CY24 Q4 CY23 YoY Q3 CY24 QoQ CY24 CY23 YoY Revenue from Operations 2,650.0 2,499.2 6.0% 2,501.3 5.9% 10,531.6 8,980.1 17.3% Purchases of stock in trade 3.7 4.1 14.8 36.5 39.1 Change in inventories of stock-in-trade 8.0 1.1 -4.9 1.0 -6.1 Employ
Slide 40: Consolidated balance sheet
Consolidated balance sheet Assets (in INR MM) CY24 CY23 Equity & Liabilities (in INR MM) CY24 CY23 Non-current Assets Equity Property, plant and equipment 1,457.1 1,436.0 Equity Share Capital 864.3 3.9 Right-of-use Assets 1,303.6 1,329.9 Other Equity 9,763.2 -6,048.1 Capital Work‐in‐Progress 360.9 2
Slide 41: Consolidated cash flow statement
Consolidated cash flow statement Particulars (in INR MM) CY24 CY23 Cash Flow from Operating Activities Profit before Tax 5,853.2 4,554.3 Adjustment for Non-Operating Items 152.7 507.7 Operating Profit before Working Capital Changes 6,005.9 5,062.0 Changes in Working Capital -526.0 -596.3 Cash Genera
Slide 42: 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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