International Gemological Institute
International Gemological Institute
Commercial ServicesKey Fundamentals
MicrocapDiversified ServicesCommercial ServicesTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Weaknesses
2- Stock is trading at 9.06 times its book value
- Working capital days have increased from -103 days to 113 days
Growth Rate
AI Analysis — Bull vs Bear
International Gemological Institute Limited (IGIL) operates in the commercial services sector with a market cap of ₹14,179 Cr and trades at a P/E of 23.5x. The company has delivered strong TTM sales growth of 22% and profit growth of 24%, with a last-year ROE of 56%, but faces concerns around a sharp deterioration in working capital days from -103 to 113 and a rich price-to-book valuation of 9.65x.
- Strong TTM revenue growth of 22% indicates healthy top-line momentum in the gemological certification space
- Compounded sales CAGR of 48% over 3 years reflects a sustained period of rapid business expansion
- Compounded profit CAGR of 43% over 3 years shows the company has been able to scale profitably alongside revenue growth
- TTM profit growth of 24% is tracking ahead of broader market earnings growth, suggesting continued operational leverage
- Last-year ROE of 56% is exceptionally high, indicating efficient use of shareholder equity to generate returns
- P/E of 23.5x is reasonable relative to the company's 24% profit growth, implying a PEG ratio close to 1.0x
- Dividend yield of 0.77% provides a modest income component, which is notable for a growth-stage commercial services company
- Stock is trading at 9.65x book value, a premium valuation that leaves limited margin of safety if growth decelerates
- Working capital days have deteriorated sharply from -103 days to 113 days, a swing of over 200 days that signals potential cash conversion issues
- Stock price has declined 9% over the past 1 year despite strong earnings growth, suggesting the market may be pricing in risks not visible in headline numbers
- No historical 5-year or 10-year growth data is available, making it difficult to assess long-term consistency and track record of the business
- Debt-to-equity ratio is not disclosed, limiting visibility into the company's leverage and financial risk profile
- 52-week high and low data showing 0 suggests limited trading history or recent listing, which introduces price discovery and liquidity risk
- The shift to positive working capital days of 113 means the company is now funding operations with its own capital rather than benefiting from negative working capital, which could pressure free cash flows going forward
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Full control of IGI Botswana Sep 8
On Aug 31 IGI approved acquiring 100% control of its Botswana subsidiary to expand diamond grading in the region, and on Sep 8 it confirmed the deal closed on September 7, 2026. IGI Botswana is now a wholly owned subsidiary of IGI Dubai.
TL;DR: IGI has taken full ownership of its Botswana lab, which gives it more direct control over grading capacity in a major diamond-producing hub. The articles give no deal value or revenue figures, so the financial impact can't be measured, and no headwinds were reported in this period. The step is small but points in a good direction. Watch whether the Botswana unit adds noticeably to grading volumes and margins in the next few quarters.
Quarterly Results
| Particulars | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 250 | 278 | 260 | 250 | 265 | 305 | 301 | 304 | 320 | 369 | 371 |
| Expenses | 121 | 105 | 133 | 103 | 113 | 109 | 127 | 128 | 128 | 133 | 147 |
| Operating Profit | 128 | 173 | 127 | 147 | 152 | 196 | 174 | 176 | 191 | 236 | 224 |
| OPM % | 51% | 62% | 49% | 59% | 57% | 64% | 58% | 58% | 60% | 64% | 60% |
| Other Income | 9 | 12 | 3 | 9 | 12 | 8 | 14 | 12 | 11 | 18 | 16 |
| Interest | 4 | 3 | 2 | 2 | 1 | 3 | 2 | 2 | 2 | 3 | 3 |
| Depreciation | 13 | 12 | 13 | 6 | 10 | 10 | 10 | 11 | 12 | 13 | 14 |
| PBT | 121 | 171 | 114 | 147 | 153 | 191 | 175 | 175 | 188 | 239 | 223 |
| Tax % | 35% | 26% | 32% | 26% | 26% | 26% | 28% | 26% | 29% | 25% | 26% |
| Net Profit | 78 | 126 | 78 | 110 | 114 | 141 | 127 | 130 | 135 | 180 | 166 |
| EPS in Rs | — | — | 1.96 | 2.76 | 2.63 | 3.26 | 2.93 | 3 | 3.11 | 4.16 | 3.84 |
Profit & Loss
| Particulars | Dec 2022 | Dec 2023 | Dec 2024 | Mar 2026 15m | TTM |
|---|---|---|---|---|---|
| Sales | 491 | 898 | 1,053 | 1,598 | 1,363 |
| Expenses | 156 | 401 | 453 | 623 | 536 |
| Operating Profit | 335 | 497 | 600 | 974 | 827 |
| OPM % | 68% | 55% | 57% | 61% | 61% |
| Other Income | 8 | 11 | 35 | 63 | 58 |
| Interest | 3 | 11 | 9 | 13 | 10 |
| Depreciation | 12 | 42 | 41 | 56 | 50 |
| PBT | 329 | 455 | 585 | 969 | 825 |
| Tax % | 27% | 27% | 27% | 27% | — |
| Net Profit | 242 | 331 | 427 | 711 | 610 |
| EPS in Rs | — | — | 9.89 | 16.46 | 14.11 |
| Div. Payout % | 0% | 0% | 25% | 15% | — |
Balance Sheet
| Particulars | Dec 2022 | Dec 2023 | Dec 2024 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 0.4 | 0.4 | 86 | 86 |
| Reserves | 339 | -605 | 976 | 1,402 |
| Borrowings | 27 | 151 | 145 | 143 |
| Other Liabilities | 43 | 1,484 | 296 | 223 |
| Total Liabilities | 409 | 1,031 | 1,504 | 1,853 |
| Fixed Assets | 110 | 384 | 384 | 539 |
| CWIP | 0 | 20 | 36 | 62 |
| Investments | 0 | 0 | 0 | 0 |
| Other Assets | 299 | 627 | 1,084 | 1,253 |
| Total Assets | 409 | 1,031 | 1,504 | 1,853 |
Cash Flow
| Particulars | Dec 2022 | Dec 2023 | Dec 2024 | Mar 2026 |
|---|---|---|---|---|
| Operating | 194 | 303 | 393 | 624 |
| Investing | -43 | -85 | -1,634 | -320 |
| Financing | -154 | -162 | 1,188 | -362 |
| Net Cash Flow | -2 | 55 | -52 | -58 |
| Free Cash Flow | 183 | 248 | 355 | 543 |
| CFO/OP | 87 | 90 | 91 | 94 |
Ratios
| Particulars | Dec 2022 | Dec 2023 | Dec 2024 | Mar 2026 |
|---|---|---|---|---|
| Debtor Days | 47 | 51 | 57 | 66 |
| Cash Conversion Cycle | 47 | 51 | 57 | 66 |
| Working Capital Days | 28 | -536 | 113 | 113 |
| ROCE % | — | — | 158% | 69% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view International Gemological Institute insights
57 extracted metrics + investor summaries across FY21–FY27.
Documents
Frequently Asked Questions about International Gemological Institute
What does International Gemological Institute Limited do?
Where is International Gemological Institute Limited (IGIL) listed?
Which sector does International Gemological Institute Limited belong to?
What is the market capitalisation of International Gemological Institute Limited?
What is the PE ratio of International Gemological Institute Limited?
What is the 52-week high and low of International Gemological Institute Limited?
Does International Gemological Institute Limited pay dividends?
What is the Return on Equity (ROE) of International Gemological Institute Limited?
Company Information
International Gemological Institute Ltd is world's largest independent certification and acccreditation services provider in the fields of diamond, gemstone and jewellery[1]
For AI agents and developers
Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/IGIL.md for International Gemological Institute Limited: company profile, latest price, key fundamentals, the Tapetide Score, growth rates, quarterly and annual financial statements, shareholding pattern, technical indicators, analyst ratings and exchange filings.
Append .md to any Tapetide URL for the
same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live,
structured queries instead of documents, use our MCP server.