International Gemmological Institute shares hit 10% lower circuit after Q4 results, fall 28% below listing price

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26 Aug, 2025 12:21

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The shares of the recently-listed International Gemmological Institute (IGI) tumbled 10 percent to get locked in the lower circuit at Rs 366.25 apiece on March 3. This comes after the diamond grading firm released its results for the quarter ended December 31, 2024 on February 28.

During the fourth quarter of the calendar year 2024, the company's net profit increased 45 percent year-on-year to Rs 114 crore. Its revenue rose 6 percent to Rs 265 crore as against Rs 250 crore in the year-ago period. IGI's EBITDA meanwhile jumped 18 percent year-on-year to Rs 152 crore.

The Q4 results, however, didn't elicit a positive momentum in the marketd, which continued to reel under persistent sell-off.

IGI shares had listed on the NSE with a premium of 22 percent over its issue price at Rs 510 on December 20. The stock, however, has now fallen nearly 28 percent from its debut price. Further, it is down nearly 43 percent from its January peak of Rs 642.3 per share.

"A significant trend shaping the industry is the rapid adoption of Lab-Grown Diamonds (LGDs), which are gaining worldwide acceptance due to their affordability and sustainability. As independent certification becomes increasingly essential in ensuring authenticity and quality, IGI’s leadership in this space positions it at the forefront of this evolving landscape," IGI had said in a press release after announcing its Q3 results.

IGI is a diamond, jewellery and coloured stone certification firm, which has a 33 percent share in the diamond certification market and 65 percent share in the laboratory-grown diamond segment. The company operates under the 'IGI' brand in India and Turkey, offering a wide range of grading and classification services.