IGI NRC approves 629,814 stock options under ESOP 2024 plan

International Gemological Institute (IGI) has approved the grant of 629,814 stock options to eligible employees under its Employee Stock Option Plan – 2024. The Nomination and Remuneration Committee (NRC) authorized the grants during a meeting held on July 23, 2026, aligning with the company’s strategy to retain talent through equity-based incentives. These options are exercisable into equity shares with a face value of ₹2 each, as per the terms defined in the grant letters.

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company also cited compliance with SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The scheme operates in accordance with the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.

Grant Details

The specific parameters of the stock option grant are outlined below:

Particulars	Details
Number of Options Granted	629,814
Underlying Equity Shares	629,814 shares
Face Value per Share	₹2
Pricing Formula	As determined by NRC per IGI ESOP Plan 2024
Vesting Status	Not Applicable
Exercise Period	As per IGI ESOP Plan 2024 and Grant letters

The pricing formula for these options was determined by the NRC in line with the IGI ESOP Plan 2024. The time within which the options may be exercised is governed by the same plan and individual grant letters. No options have been vested, exercised, or lapsed at this stage, meaning no money has been realized by the company from the exercise of options yet.

Regulatory Compliance

International Gemological Institute Limited submitted this intimation to both BSE Limited and the National Stock Exchange of India Limited. The information is also available on the company’s website at www.igi.org . The filing confirms that there have been no subsequent changes, cancellations, or variations to the terms of these options since their approval. Additionally, the impact on diluted earnings per share is currently not applicable due to the non-exercise of these options.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-5.50%	-6.81%	-8.04%	+9.98%	-19.34%	-30.68%

International Gemological Institute reported a 31% year-on-year rise in consolidated net profit to Rs 1,657 Mn for Q1FY27, driven by strong growth momentum across loose stones, jewelry, and colored gemstone certification. Consolidated revenue from operations increased 23% to Rs 3,708 Mn from Rs 3,009 Mn in the corresponding quarter of the previous year, while EBITDA grew 29% to Rs 2,238 Mn. The EBITDA margin expanded to 60.35% from 57.63% in Q1FY26, and PAT margins stood at 45%, an increase of 260 basis points.

The Board of Directors approved the unaudited financial results at its meeting held on July 23, 2026. The statutory auditors, M S K A & Associates LLP, performed a limited review and expressed an unmodified conclusion on the standalone results. The company operates in a single operating segment involving the certification of diamonds, gemstones, and jewellery, along with related education.

Consolidated Financial Performance

The company's profit before tax on a consolidated basis rose to Rs 2,228 Mn from Rs 1,750 Mn in the year-ago period. The results include the financial performance of 16 direct and indirect subsidiaries, including entities in Turkey, the Netherlands, Israel, and the United States. The auditors noted that the interim financial information of ten subsidiaries, totalling Rs 160.83 million in revenue, were not reviewed by their respective auditors but were certified by the management. These figures were considered not material to the group.

Total certification volumes for Q1 FY27 stood at 3.56 Mn reports, marking a 17% YoY growth compared to 3.03 Mn reports in Q1 FY26. Certification revenues grew by 23% YoY to Rs 3,598 Mn during Q1 FY27, with AGL consolidation contributing 3% incremental revenue growth. Average realized price (ARP) per report increased by 5% YoY to Rs 1,010 in Q1 FY27 from Rs 963 in Q1 FY26.

Particulars	Q1 FY27 (Rs Mn)	Q1 FY26 (Rs Mn)	YoY Growth %
Revenue	3,708	3,009	23%
EBITDA	2,238	1,735	29%
PBT	2,228	1,750	27%
PAT	1,657	1,265	31%
EBITDA Margin	60.35%	57.63%	—

Strategic Outlook

Commenting on the results, Mr. Tehmasp Printer, Managing Director and CEO of IGI, highlighted broad-based momentum across Lab Grown Diamond (LGD) loose stones, LGD jewelry, and coloured gemstones. He noted that investments in the US business are gaining traction, and operations have commenced in Italy. The company continues to invest in artificial intelligence and automation to enhance service quality and turnaround times. The financial year has been transitioned to a 12-month period ending March 31, following a 15-month transitional year ending March 31, 2026.