International Gemological Institute Limited (IGIL)

About

IGIL provides gemological certification in India's jewelry sector. Recent quarters range ₹37–369 Cr revenue; market cap ₹14,949.8 Cr. Zero debt and 60–74% operating margins demonstrate strong profitability without financial leverage.

Face value: ₹2

Market cap

₹13,482 Cr

P/E

22.1×

P/B

9.1×

Dividend yield

1.6%

ROE

49.1%

ROCE

61.1%

Debt / equity

0

OPM

60.9%

EPS (TTM)

₹14.1

Book value

₹34.4

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Two financial rows per quarter — verify whether standalone vs consolidated and which reflects operations.

Operating margins swing 58–75%, revenue ₹37–369 Cr quarter-to-quarter — clarify drivers: service mix, seasonality, or accounting timing.

PE 32.46 with 1y return –3.14% despite ROE 35.73% — market underprices fundamentals; verify sustainability.

Promoter 76.55%, public 8.45% — verify board autonomy, governance quality, and capital allocation discipline.

Generated analysis · source review pending

Growth drivers

ROE 35.73% and zero debt provide reinvestment or expansion capacity without dilution.

Operating margins 60–74% suggest pricing power or cost discipline; volume growth would amplify unit returns.

Dividends since Feb 2025 show earnings conversion; verify reinvestment strategy across services or geographies.

Jewelry market (weddings, imports, hallmarking regulation) could lift certification demand; verify IGIL's market share and exposure.

Generated analysis · source review pending

437 historical price candles were omitted because the exchange source has not been verified.

₹312.0-3.8%1Y

Quick read

rule-based

Pros

+Strong return on equity of 44.1% (3-yr avg)
+High return on capital employed of 54.8%
+Healthy operating margin of 60.9%
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 79.2×
+Dividend payout of 35.8% of profit
+High promoter holding of 76.6% with no pledge

Cons

−Trading at 9.1× book value

Research score

Structured signal from quality, growth, valuation and momentum.

82/100

Business quality: 100
Growth

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
International Gemological Institute LimitedIGILIGIL	₹13,482 Cr	₹13,482 Cr	₹1,363 Cr	₹827 Cr	60.9%	₹610 Cr	44.5%	61.1%	49.1%	36
Wework India Management LimitedWEWORKWEWORK	₹8,931 Cr	₹9,264 Cr	₹2,589 Cr	₹1,676 Cr	64.5%	₹84 Cr	3.1%	12.4%	25%	-18
Nesco LimitedNESCONESCO	₹7,249 Cr	₹7,249 Cr	₹951 Cr	₹482 Cr	52.6%	₹417 Cr	44.3%	17%	14.7%	1
Indiabulls LimitedIBULLSLTDIBULLSLTD	₹6,856 Cr	₹7,314 Cr	₹1,101 Cr	₹417 Cr	33.2%	₹419 Cr	41.5%	—	8.9%	—
Inox Green Energy Services LimitedINOXGREENINOXGREEN	₹6,384 Cr	₹6,472 Cr	₹280 Cr	₹28 Cr	8.2%	₹121 Cr	36.8%	8.5%	5.6%	405
Leap India LimitedLEAPINDLEAPIND	₹6,036 Cr	₹7,054 Cr	₹730 Cr	₹157 Cr	21.5%	₹62 Cr	8.6%	9.5%	9.6%	-520
Smartworks Coworking Spaces LimitedSMARTWORKSSMARTWORKS	₹5,837 Cr	₹6,044 Cr	₹1,963 Cr	₹1,260 Cr	64.3%	₹28 Cr	0.6%	7.5%	2%	-102
Elevate Campuses LimitedELEVATEELEVATE	₹5,811 Cr	₹9,931 Cr	₹569 Cr	₹405 Cr	71.3%	₹174 Cr	30.6%	9.3%	21.1%	—
Nirlon LimitedNIRLONNIRLON	₹5,467 Cr	₹6,614 Cr	₹317 Cr	₹237 Cr	79.1%	₹127 Cr	34.3%	23.2%	59.8%	-56
Quess Corp LimitedQUESSQUESS	₹5,023 Cr	₹5,023 Cr	₹15,835 Cr	₹327 Cr	2%	₹253 Cr	1.5%	19.2%	19.7%	19
Indiqube Spaces LimitedINDIQUBEINDIQUBE	₹4,187 Cr	₹4,477 Cr	₹1,564 Cr	₹952 Cr	60.8%	₹-93 Cr	-7.3%	5.7%	-20.7%	-273
Sanghvi Movers LimitedSANGHVIMOVSANGHVIMOV	₹3,719 Cr	₹4,393 Cr	₹1,177 Cr	₹426 Cr	37.4%	₹199 Cr	17.2%	18%	15%	77

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Dec 2024	Dec 2025	Mar 2026
	1,053	1,229	1,598
COGS	4	-2	2
	450	494	623
	600	737	973
OPM %	56.9%	59.9%	60.9%
Depreciation	41	43	56
Interest	8	10	12
	35	46	64
Profit before tax	585	730	969
Tax	158	199	258
Tax %	27%	27.2%	26.6%
	427	532	711
PAT margin %	40.6%	43.3%	44.5%
EPS (₹)	10.7	12.3	16.5
EPS adjusted (₹)	9.9	12.3	16.5
Annual report	Annual report for Dec 2024	—	Annual report for Mar 2026

₹ Cr	Dec 2024	Dec 2025	Mar 2026
Equity capital	86	86	86
Reserves	976	1,323	1,402
Minority interest	—	—	0
	0	0	0
	441	345	370
Total equity & liabilities	1,504	1,755	1,858
	382	409	537
CWIP	36	59	62
Investments	2	1	2
	1,084	1,286	1,257
Total assets	1,504	1,755	1,858

₹ Cr	Dec 2024	Dec 2025	Mar 2026
	393	502	624
	-1,641	-307	-339
	1,188	-248	-362
Net cash flow	-60	-53	-77
Free cash flow	357	439	542
CFO / Operating profit %	65.6%	68.1%	64.2%

Compounded sales growth

7 years: —
5 years: —
3 years: —
1 year: 30%

Compounded profit growth

7 years: —
5 years: —
3 years: —
1 year: 34%

Return on equity

7 years: —
5 years: —
3 years: 42%
Last year: 48%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Dec 2024	Dec 2025	Mar 2026
Margins
Gross margin %	—	—	—
EBITDA margin %	56.9%	59.9%	60.9%
EBIT margin %	53%	56.5%	57.4%
PAT margin %	40.6%	43.3%	44.5%
Working capital
Receivable days	57	70	66
Inventory days	1	2	1
Payable days	48	68	31
NWC days	10	4	36
Leverage
Current ratio	3.35	5.16	5.04
Debt to EBITDA	0	0	0
Debt to equity	0	0	0
Interest coverage	71.8	75.8	79.2
Asset turnover	0.7	0.7	0.86
Return ratios
Return on assets %	28.4%	30.3%	38.3%
Return on capital employed %	49.5%	53.9%	61.1%
Return on equity %	40.2%	37.7%	47.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	76.55%	76.55%	76.55%	76.55%	76.55%	76.55%	76.55%	76.55%
	9.07%	9.1%	9.88%	10.18%	10.55%	9.6%	8.6%	9.49%
	7.75%	5.88%	5.88%	5.44%	5.14%	5.45%	6.38%	5.51%
Government	0%	0%	0%	0%	0%	0%	0%	0%
	6.63%	8.47%	7.69%	7.83%	7.76%	8.4%	8.47%	8.45%
No. of shareholders	—	—	—	—	1,87,028	1,83,950	1,87,343	1,72,894

Promoter holding up 0 percentage points since Sep 2024.

3 deals · 20 Dec 2024 – 20 Dec 2024

Date	Client	Type	Venue	Side	Quantity	Price	Value
20 Dec 2024	AAKRAYA RESEARCH LLP	Bulk	NSE	Sell	35,90,169	₹494.17	₹177.42 Cr
20 Dec 2024	AAKRAYA RESEARCH LLP	Bulk	NSE	Buy	35,90,169	₹493.91	₹177.32 Cr
20 Dec 2024	STALLION ASSET PRIVATE LIMITED	Bulk	NSE	Buy	30,00,000	₹505.06	₹151.52 Cr

1–3 of 3

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Anoop Vrajlal MehtaNon-Executive - Independent Director-Chairperson
Mr. Tehmasp Nariman PrinterExecutive Director-CEO-MD
Mr. Bimal Manu TannaNon-Executive - Independent Director
Ms. Sangeeta TanwaniNon-Executive - Independent Director
Mr. Mukesh Gulraj MehtaNon-Executive - Nominee Director
Mr. Prateek RoongtaNon-Executive - Nominee Director
Mr. Tejas Deepak NaphadeNon-Executive - Nominee Director
Ms. Nitika DalmiaCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

28

across 9 fund houses

Held by these funds

1.68%

of the company's equity

All mutual funds

4.21%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

28 schemes · 9 fund houses

		Shares
Flexi Cap FundNEW	ICICI Prudential Mutual Fund	33.69 L	114.87	0.44%	0.78%	—
Bharat Consumption Fund	ICICI Prudential Mutual Fund	13.62 L	46.42	1.43%	0.315%	-25,000
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	8.26 L	28.15	2.38%	0.191%	-0
ELSS – Tax Saver Fund	ICICI Prudential Mutual Fund	7.4 L	25.23	0.18%	0.171%	-0
Flexi Cap Fund	Old Bridge Mutual Fund	3.55 L	12.1	3.05%	0.082%	+1.7 L
FMCG FundNEW	ICICI Prudential Mutual Fund	2 L	6.82	0.44%	0.046%	—
Nifty Smallcap 250 Index Fund	Nippon India Mutual Fund	1.62 L	5.52	0.16%	0.037%	+1,980
Nifty Smallcap 250 Index Fund	SBI Mutual Fund	82,305	2.81	0.16%	0.019%	+921

1–8 of 28

1 / 4

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

30

Annual reports

3

Investor Presentation and earnings call

5

Jul 2026Transcript AI Summary PPT REC
May 2026Transcript AI Summary PPT

Documents link to external sources (exchange filings, company investor pages).

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

4

Interim dividend24 Aug 2026 · ex-date₹2.55
Interim dividend17 Feb 2026 · ex-date₹2.5
Interim dividend14 Aug 2025 · ex-date₹2.5
Interim dividend28 Feb 2025 · ex-date₹2.44

1

Board meeting to consider results23 Jul 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

115 announcementsExport CSV

8 Sept 2026, 9:23 amCompany Update

General Updates

General PDF

31 Aug 2026, 5:42 pmCompany Update

Intimation Under Regulation 30 Read With Schedule III Of Listing Regulations

General PDF

18 Aug 2026, 3:10 pmCorp. Action

Corporate Action-Board approves Dividend

Dividend PDF

18 Aug 2026, 3:04 pmCorp. Action

Interim Dividend For FY 2026-27

Record Date PDF

18 Aug 2026, 3:01 pmBoard Meeting

Board Meeting Outcome for Outcome Of Board Meeting Held On August 18, 2026 To Declare Interim Dividend For FY 2026-27

Outcome of Board Meeting PDF

17 Aug 2026, 2:05 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

14 Aug 2026, 5:15 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

3 Aug 2026, 10:29 amCompany Update

Announcement under Regulation 30 (LODR)-Investor Presentation

Investor Presentation PDF

Date	Category	Subject	Filing
8 Sept 2026, 9:23 am	Company Update General	General Updates	PDF
31 Aug 2026, 5:42 pm	Company Update General	Intimation Under Regulation 30 Read With Schedule III Of Listing Regulations	PDF

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International Gemological Institute Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Investor Presentation and earnings call

Events

Dividends4

Board meetings1

Announcements

Ratio timeline

Not in the F&O segment

Quarterly record

Bulk & block deals

Board and management

Dividends4

Board meetings1

Announcements

Annual reports

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

4

1

4

1