TechBuzz
IGI Reports Double-Digit Revenue Growth as Demand Surges for Both Lab-Grown and Natural Diamond Certification
Strong performance across all segments boosts Q1 revenue and profit; IGI plans lab expansion and tech upgrades to meet rising demand.
The International Gemological Institute (IGI) reported robust financial results for the first quarter, driven by increased demand for certification of both lab-grown and natural diamonds. Revenue rose 10% year-on-year to INR 3 billion ($35.8 million) for the three months ending March 31, marking a 15% increase over the previous quarter.
Growth was seen across all certification segments. Loose natural-diamond certification rose 1% year-on-year, accounting for 16% of IGI’s operations. Certification of loose lab-grown diamonds grew 9%, making up the majority of the business at 54%. Grading of natural-diamond jewelry surged 21%, while lab-grown jewelry grading recorded an impressive 87% increase. These segments now represent 21% and 7% of the company’s business, respectively.
Net profit climbed 12% year-on-year to INR 1.41 billion ($16.5 million), and rose 24% compared to the previous quarter.
“The company has seen strong growth momentum across all its segments compared to the previous quarter as well as the first quarter of the last financial year,” said IGI CEO Tehmasp Printer. “Along with our core segments of natural-diamond certification and lab-grown diamond certification, we are also seeing strong demand for certification of natural diamond and lab-grown diamond jewelry, which will further accelerate the growth of our business.”
To support this rising demand, IGI announced plans to expand its laboratory capacity and invest in technology aimed at increasing operational efficiency and reducing turnaround time for services.
TechBuzz
C4i4 Team Explores AI, Industry 4.0 Applications At IIGJ, Mega CFC
The Visit Focused On Identifying Opportunities To Apply AI and Industry 4.0 Technologies Across Jewellery Manufacturing, Skills Development and Cluster Infrastructure
The Centre for Industry 4.0 (C4i4), Pune, which works with Indian manufacturers to support the adoption of advanced digital and smart manufacturing technologies, visited the Indian Institute of Gems & Jewellery (IIGJ) and Mega Common Facility Centre (Mega CFC), Mumbai, on 8 September to explore applications of Artificial Intelligence (AI) and Industry 4.0 in jewellery manufacturing and skilling.
The C4i4 team comprised Dattatraya Navalgundkar, Bilal Ahmed and Sunil Bhatambrekar. At IIGJ, Siddhartha H., COO, GJEPC, provided an overview of the institute, while Dr. Anju Singh, Dean (Academics), IIGJ Mumbai, briefed the team on its curriculum and academic programmes. Koushik S.V., Head – Skill Development Division, IIGJ Udupi, shared details of skilling initiatives, including the PM Vishwakarma scheme and its relevance to artisans and traditional skills. Discussions also covered jewellery valuation programmes conducted for Customs and GST officials.
Ravi Menon, CEO, Mega CFC, outlined the centre’s establishment and facilities, while Mithilesh Pandey, Senior Director, GJEPC, briefed the delegation on cluster development initiatives and the role of common facilities in strengthening the jewellery manufacturing ecosystem.
The visit focused on identifying opportunities to apply AI and Industry 4.0 technologies across jewellery manufacturing, skills development and cluster infrastructure.
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