Transcript of the Earnings Call held for the quarter ended June 30, 2026

July 27, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G Dalal Street, Fort, Bandra Kurla Complex Mumbai - 400 001 Bandra (East), Mumbai - 400 051 BSE Scrip Code: 544311 NSE Symbol: IGIL Subject: Transcript of the Earnings Call held for the quarter and year ended June 30, 2026 Dear Sir/Madam, The Company had intimated, vide its letter dated July 20, 2026, regarding the Earnings Conference Call of International Gemological Institute Limited for the quarter ended June 30, 2026. The conference call was held on July 23, 2026 and the transcript of the call is hereby enclosed. This intimation will be made available on the Company’s website at www.igi.org. This is for your information and record. Thanking you, Yours faithfully, For International Gemological Institute Limited Nitika Dalmia Company Secretary and Compliance Officer Encl: a/a “International Gemological Institute Limited Q1 FY27 Earnings Conference Call” July 23, 2026 MANAGEMENT: MR. TEHMASP PRINTER – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER – INTERNATIONAL GEMOLOGICAL INSTITUTE LIMITED MR. EASHWAR IYER – CHIEF FINANCIAL OFFICER – INTERNATIONAL GEMOLOGICAL INSTITUTE LIMITED MS. NATASHA KEDIA -- HEAD OF INVESTOR RELATIONS AND PUBLIC RELATIONS – INTERNATIONAL GEMOLOGICAL INSTITUTE LIMITED MODERATOR: MR. SUMEET KHAITAN – MUFG INTIME Page 1 of 17 International Gemological Institute Limited July 23, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Q1, FY27 earnings conference call of International Gemological Institute Limited, hosted by MUFG Intime. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Sumeet Khaitan from MUFG Intime. Thank you and over to you, sir. Sumeet Khaitan: Yes, good evening everyone. I welcome you all to the earnings conference call to discuss Q1 FY27 results of International Gemological Institute Limited. To discuss the results, we have from the management, Mr. Tehmasp Printer, MD and CEO, Mr. Eashwar Iyer, CFO, and Ms. Natasha Kedia, Head of Investor Relations and Public Relations. They will take you through the results and business performance, post which we'll proceed for Q&A session. Before we proceed with the call, I would like to mention that some of the statements made in the today's call may be forward-looking in nature and may involve risk and uncertainties. For more details, kindly refer to investor presentation and other filings that can be found on the company's website. With this, I now hand over the call to the management for their opening remarks. Over to you, sir. Tehmasp Printer: Thank you, Sumeet. Good evening, ladies and gentlemen, and thank you for joining us today for the IGI's first quarter FY27 earnings call. I trust you have had the opportunity to review our financial results and investor presentations, both which are available on the stock exchanges as well as our website. We have begun FY27 on a strong note, delivering Q1 revenue growth at 23% and an EBITDA growth of 29% year-on-year. This performance reflects the enduring strength of our core franchise and the disciplined execution of our growth strategy. Our momentum this quarter was broad-based, led by LGD Loose Stones, LGD Jewelery, and increasingly our by Coloured Stone Gemstones and other certification. Demand for LGD certifications remain healthy, supported by incremental growth capacity coming online. This structural expansion in supply, coupled with the rising consumer acceptance, continues to widen the addressable market for independent certification. At the same time, natural diamonds remain our strategic priority. We are working to gain market share in natural diamond loose stones, winning new customers and growing our share of wallet with existing ones. Consumer preference is ever evolving rapidly. Consumers today are increasingly guided by contemporary design, everyday utility, self-expression and transparency, trends that are reshaping the jewelery industry globally. As we have consistently maintained, the rise of the lab-grown diamonds does not dilute the case of certification. In fact, it reinforces it in the larger markets where more participants' trust and commercial confidence becomes more valuable and not less. We firmly believe that an IGI Page 2 of 17 International Gemological Institute Limited July 23, 2026 certificate that makes a lab-grown diamond a diamond. At its core, IGI's value proposition rests on two enduring pillars. The first one is trust, which is very important. As an independent third party, we verify a stone's origin, its defining characteristics, that is the 4Cs, cut, colour, clarity and carat, and increasingly its traceability, provenance, etcetera. As consumer and trade place increasing importance on transparency and authenticity, independent certification becomes ever more critical. The second value is commercial value. Independent certification establishes a standardized objective assessment of a stone's quality, enabling efficient price discovery, facilitating trade across the entire value chain, giving manufacturers, retailers and consumers alike the confidence to transact. As you know, earlier this year, we acquired American Gemological Laboratories, AGL, a leader in gemstone certification in the US. The consolidation of AGL is now beginning to contribute to our performance and reinforces our position as one of the few scaled global certification players spanning natural and lab-grown diamonds, jewelery and now coloured stone gemstones. Coloured stones expand our total addressable market and opens a new avenue of growth beyond diamonds, with meaningful opportunity to cross-sell and to extend AGL's presence into new geographies. Alongside the core business, we continue to invest in building the IGI brand and deepening consumer awareness and embedding artificial intelligence and machine learning across our operations to enhance service qualities, improve turnaround times and drive greater efficiency. I'm also pleased to share that we have been strengthening our leadership bench with the addition of senior leaders across various functions. Most recently, we have Mr. Manu Sharma joining us as the Chief Operating Officer, who brings over 20 years of leadership experience in retail luxury and brand management and business growth. He has served the group as a Group Vice President at Reliance Brands Limited, where he led a premium portfolio of global brands, drove strategic partnerships and headed major expansion initiatives. In conclusion, we believe IGI is exceptionally well-positioned to capitalize on these opportunities and continue delivering sustainable long-term growth given our strong global footprint, diversified segment presence, trusted brands and expanding capabilities. With that, I now like to invite our CFO, Mr. Eashwar Iyer, to take you through the financial performance for the quarter and the year gone by. Thank you. Eashwar Iyer: Thank you, Tehmasp, and thanks everyone for taking the time. It's a pleasure to have you guys again on board for our quarterly investor call. As mentioned in the last con-call, I would like to highlight that the company has transitioned its financial reporting structure from a calendar year to a financial year ending March. I will start with an update for the quarter. I'm talking of the consolidated group performance for the quarter. Certification revenue for the quarter stood at INR 3,598 million, growing at 23% year-on-year, supported by strong volume growth of 17% on a year-on-year basis. This was primarily driven by strong revenue growth across all our core segments, namely LGD, which has grown at [Showing first 8,000 characters — download PDF for full document]