Interim report
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October 21, 2026 To, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai - 400 001 BSE Scrip Code: 544311 National Stock Exchange of India Limited Exchange Plaza, C-1, Block G Bandra Kurla Complex Bandra (East), Mumbai - 400 051 NSE Symbol: IGIL Subject: Outcome of the Board Meeting held on Wednesday, October 21, 2026 Dear Sir/Madam, This is to inform you that the Board of Directors of the Company has at its meeting held today i.e., October 21, 2026, inter alia, approved the unaudited standalone and consolidated financial results of the Company for the quarter and half year ended September 30, 2026. T he aforementioned Financial Results and the Statutory Auditors’ Limited Review Reports thereon are enclosed. The meeting commenced at 2:45 p.m. (IST) and concluded at 3:45 p.m. (IST). The aforesaid information will also be made available on the Company's website at www.igi.org. Thanking you. For International Gemological Institute Limited Nitika Dalmia Company Secretary and Compliance Officer Encl: a/a IGI INTERNATIONAL GEMOLOGICAL INSTITUTE LIMITED Registered Office: 702, The Capital, Bandra Kurla Complex, Bandra (E), Mumbai 400 05 l Tel: +91 22 4035 2550 Email: india @igi.o rg CIN: L4659l MHl 999PLCl 18476 THE GLOBAL CERTIFICATION AUTHORITY TC -6078 I Certifi ed Member 0000 1013 Formerly known as International Gemmological Institute (India) Limited and International Gemmological Institute (India) Private Limited. •BELGIUM• USA• INDIA• CHINA• THAILAND• UAE •ISRAEL• TURKEY• ITALY• EGYPT www.igi.org
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MSKA & Associates LLP (Formerly known as MS KA & Associates) Chartered Accountants HO 602, Floor 6, Raheja Titanium Western Express Highway, Geetanjali Railway Colony, Ram Nagar, Goregaon (E) Mumbai 400063, INDIA Tel: +91 22 6974 0200 Independent Auditor's Review Report on unaudited consolidated financial results of International Gemological Institute Limited (formerly known as International Gemmological Institute (India) Limited) for the quarter and year to date pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To the Board of Directors of International Gemological Institute Limited 1. We have reviewed the accompanying statement of consolidated unaudited financial results of International Gemological Institute Limited (hereinafter referred to as 'the Holding Company') and its subsidiaries (the Holding Company and its subsidiaries together referred to as the 'Group') for the quarter ended September 30, 2026 and the year to date results for the period from April 01 , 2026 to September 30, 2026 ('the Statement') attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('the Regulations'). 2. This Statement , which is the responsibility of the Holding Company's Management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 'Interim Financial Reporting' prescribed under Section 133 of the Companies Act, 2013 ('the Act') read with relevant rules issued thereunder ('Ind AS 34') and other recognised accounting principles generally accepted in India and is in compliance with the Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity' issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Act and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33 (8) of the Regulations, to the extent applicable. Registered Office: 602, Raheja Titanium , Western Express Highway, Goregaon (East), Mumbai-400063, Maharashtra, India Tel: +91 22 6974 0200 I LLPIN: ACT-3789 Ahmedabad I Bengaluru I Chandigarh I Chennai I Coimbatore I Goa I Gurugram I Hyderabad I Kochi I Kolkata I Pune www.mska.in
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MSKA ft Associates LLP (Formerly known as MS KA & Associates) Chartered Accountants 4. This Statement includes the results of the Holding Company and the following entities : Sr. No Name of the entity Relationship with the Holding Company 1 International Gemmological Institute Turkey Precious Stone Direct subsidiary Certification Services Joint Stock Company 2 International Gemmological Institute BV Direct subsidiary 3 IGI Netherlands B. V. Direct subsidiary 4 International Gemmological Institute (Israel) Ltd Indirect subsidiary 5 International Gemmological Institute FZCO (formerly known as Indirect Subsidiary International Gemmological Institute DMCC) 6 IGI Diamonds and Gemstones Testing Laboratory L.L.C Indirect Subsidiary 7 International Gemological Institute (HK) Limited Indirect Subsidiary 8 International Gemmological Identification (Thailand) Limited Indirect Subsidiary 9 International Gemmological Institute Inc. Indirect Subsidiary 10 IGI (Shanghai) Business Consulting Co., Ltd. Indirect Subsidiary 11 IGI (Shenzhen) Jewelry Testing Co., Ltd. Indirect Subsidiary 12 GI (Shanghai) Gemological Research and Testing Limited Indirect Subsidiary 13 IGI (Shanghai) Gemological Training Company Limited Indirect Subsidiary 14 American Gemological Laboratories, LLC Indirect Subsidiary 15 AGL HoldCo Indirect Subsidiary 16 International Gemological Institute for Jewelry and Precious Indirect Subsidiary Stones (IGI) 17 International Gemological Institute (Botswana) Proprietary Indirect Subsidiary Limited ("IGI Botswana") 5. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 and other recognised accounting principles generally accepted in India has not disclosed the information required to be disclosed in terms of the Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. Registered Office: 602, Raheja Titanium, Western Express Highway, Goregaon (East), Mumbai-400063, Maharashtra, India Tel: +91 22 6974 0200 I LLPIN: ACT-3789 Ahmedabad I Bengaluru I Chandigarh I Chennai I Coimbatore I Goa I Gurugram I Hyderabad I Kochi I Kolkata I Mumbai I Pune www.mska.in
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MSKA & Associates LLP (Formerly known as MS KA & Associates) Chartered Accountants 6. The Statement includes the interim financial information of eleven subsidiaries which have not been reviewed by their auditors and have been certified by the Holding Company's management, whose interim financial information reflects total assets of Rs. 1,736.35 million as at September 30, 2026 and total revenue of Rs. 178.27 million and Rs. 339.11 million, total net profit after tax of Rs. 131.19 million and Rs. 101.75 million and total comprehensive profit of Rs. 131.19 million and Rs 101.75 million for the quarter ended September 30, 2026 and for the period from April 1, 2026 to September 30, 2026, respectively, as considered in the Statement. These interim financial information for the said subsidiaries have been furnished to us by the Management of the Holding Company and our conclusion on the Statement in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on such management prepared unaudited interim financial information. According to the information and explanations given to us by the Management, these interim financial information are not material to the Group. Our conclusion is not modified in respect of the above matter with respect to our reliance on the interim financial information certified by the management. 7. The Statement includes the results for the comparative six months period ended September 30, 2025, which is arrived by adding the published unaudited figures of the quarter ended June 30, 2025 and September 30, 2025, which were subjected to a limited review by us. Further, the Statement also include statement of cash flows for the comparative six months period ended September 30, 2025, which have been prepared by the management and not subjected to audit or limited review. Our conclusion is not modified in respect of the above matter. For MS KA & Associates LLP (Formerly known as MS KA & Associates) Chartered Accountants ICAI Firm Registration No.105047W /W101187 -Ar,,<..wh. A, . I,• <., Ankush Agrawal " ?-"9Cr •b"' ·_ 01.,r11dn'':. Partner Membership No.: 159694 UDIN: 2.6159 6q~ DEF\D Place: Mumbai Date: October 21,2026 Registered Office: 602, Raheja Titanium , Western Express Highway, Goregaon (East), Mumbai-400063, Maharashtra, India Tel: +91 22 6974 0200 I LLPIN: ACT-3789 Ahmedabad I Bengaluru I Chandigarh I Chennai I Coimbatore I Goa I Gurugram I Hyderabad I Kochi I Kolkata I Mumbai I Pune www.mska.in
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(Amount in Rs million, unless otherwise stated) Previous financial year to date period from Financial year (fifteen months) ended 30 September 2026 30 June 2026 30 September 2025 30 September 2026 30 September 2025 01 January 2025 to 30 September 2025 31 March 2026 Unaudited Unaudited Unaudited Unaudited Unaudited (Refer Note 4) Unaudited Audited (Refer note 4) I Income a) Revenue from operations 3,980.24 3,707.76 3,037.37 7,688.00 6,046.49 9,094.32 15,976.60 b) Other income 188.09 158.40 124.71 346.49 261.72 346.04 642.20 Total income (I) 4,168.33 3,866.16 3,162.08 8,034.49 6,308.21 9,440.36 16,618.80 II Expenses a) Purchase of stock-in-trade 41.69 12.51 - 54.20 - 2.32 21.62 b) Change in inventories of stock-in-trade (5.88) 8.58 19.78 2.70 9.12 11.50 (6.02) c) Employee benefits expense 870.52 826.94 711.82 1,697.46 1,425.98 2,064.52 3,532.64 d) Finance costs 21.09 28.79 21.54 49.88 46.07 72.66 123.91 e) Depreciation and amortisation expenses 155.97 139.31 110.06 295.28 207.99 307.98 557.79 f) Other expenses 628.77 621.97 544.03 1,250.74 1,114.51 1,562.11 2,701.84 Total expenses (II) 1,712.16 1,638.10 1,407.23 3,350.26 2,803.67 4,021.09 6,931.78 III Profit before tax (I-II) 2,456.17 2,228.06 1,754.85 4,684.23 3,504.54 5,419.27 9,687.02 2,445.15 2,237.76 1,761.74 4,682.91 3,496.88 5,453.87 9,726.52 IV Tax expenses: 61.4% 60.4% 58.0% 60.9% 57.8% 60.0% 60.9% a) Current tax 606.89 554.19 486.69 1,161.08 962.41 1,473.13 2,590.39 b) Adjustment of tax relating to earlier year 1.32 (1.30) (9.99) 0.02 (19.86) (19.86) (14.58) c) Deferred tax (credit)/charge (10.48) 17.81 (19.78) 7.33 (1.26) (4.51) (0.76) Total tax expenses 597.73 570.70 456.92 1,168.43 941.29 1,448.76 2,575.05 V Profit for the period/year (III-IV) 1,858.44 1,657.36 1,297.93 3,515.80 2,563.25 3,970.51 7,111.97 VI Other comprehensive income: Items that will not be reclassified to profit or loss: a) Remeasurement of actuarial gain/(loss) 6.50 3.18 (2.66) 9.68 (7.96) (12.50) 45.17 b) Income tax on above (1.64) (0.80) 0.50 (2.44) 1.50 2.64 (8.34) (A) 4.86 2.38 (2.16) 7.24 (6.46) (9.86) 36.83 Items that will be reclassified to profit or loss a) Foreign currency translation difference of foreign operations 115.91 39.42 79.62 155.33 160.36 208.38 309.77 (B) 115.91 39.42 79.62 155.33 160.36 208.38 309.77 Other comprehensive income, net of tax (A) +(B) 120.77 41.80 77.46 162.57 153.90 198.52 346.60 VII Total comprehensive income for the period/year (V+VI) 1,979.21 1,699.16 1,375.39 3,678.37 2,717.15 4,169.03 7,458.57 Profit for the period attributable to a) Owners of the Company 1,858.44 1,657.36 1,297.93 3,515.80 2,563.25 3,970.51 7,111.97 b) Non-controlling Interest - - - - - - - Other Comprehensive Income for the period attributable to: a) Owners of the Company 120.77 41.80 77.46 162.57 153.90 198.52 346.60 b) Non-controlling Interest - - - - - - - Total Comprehensive Income for the period attributable to: a) Owners of the Company 1,979.21 1,699.16 1,375.39 3,678.37 2,717.15 4,169.03 7,458.57 b) Non-controlling Interest - - - - - - - VIII Paid-up equity share capital 864.32 864.32 864.32 864.32 864.32 864.32 864.32 IX Other equity 14,015.65 X Earnings per equity share (in Rs) of face value Rs 2 each a) Basic (in Rs)/share (not annualised for period) 4.30 3.84 3.00 8.14 5.92 9.19 16.46 b) Diluted (in Rs)/share (not annualised for period) 4.16 3.71 2.91 7.87 5.72 8.85 15.92 Particulars International Gemological Institute Limited (formerly known as International Gemmological Institute (India) Limited) Corporate Identification Number (CIN) : L46591MH1999PLC118476 Statement of unaudited consolidated financial results for the quarter and six months ended 30 September 2026 Registered office : 702, 7th floor, The Capital, Bandra Kurla Complex, Bandra (East), Mumbai 400051. Tel: +91 22 4035 2550 Website: https://www.igi.org/ Quarter ended Six months ended
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(Amount in Rs million, unless otherwise stated) 30 September 2026 31 March 2026 Unaudited Audited (Refer note 4) ASSETS Non-current assets Property, plant and equipment 1,796.79 1,767.18 Right-of-use assets 1,360.06 1,294.78 Capital work-in-progress 728.46 618.70 Investment property 18.45 17.97 Goodwill 1,577.68 1,531.32 Other intangible assets 770.62 775.95 Financial assets (i) Other financial assets 644.42 2,138.88 (ii) Income tax assets (net) 714.42 551.15 (iii) Deferred tax asset (net) 111.27 77.60 Other non current assets 375.19 224.49 Total non-current assets 8,097.36 8,998.02 Current assets Inventories 10.35 12.52 Financial assets (i) Trade receivables 2,401.99 2,885.17 (ii) Cash and cash equivalents 1,302.93 816.30 (iii) Bank balances other than cash and cash equivalents 4,300.54 1,911.33 (iv) Other financial assets 5,102.76 3,602.83 Current tax asset (net) 13.01 28.48 Other current assets 421.73 323.71 Total current assets 13,553.31 9,580.34 TOTAL ASSETS 21,650.67 18,578.36 EQUITY AND LIABILITIES Equity Equity share capital 864.32 864.32 Other equity 16,645.63 14,015.64 Total equity 17,509.95 14,879.96 Liabilities Non-current liabilities Financial liabilities (i) Lease liabilities 1,280.65 1,204.29 (ii) Other financial Liabilities 376.91 367.08 Provisions 209.30 181.43 Deferred tax liabilities (net) 106.60 45.24 Total non-current liabilities 1,973.46 1,798.04 Current liabilities Financial liabilities (i) Lease liabilities 216.76 223.31 (ii) Trade payables Total outstanding dues of micro enterprises and small enterprises 6.73 28.40 Total outstanding dues of creditors other than micro enterprises and small enterprises 475.12 495.86 (iii) Other financial liabilities 453.62 451.47 Other current liabilities 875.38 612.63 Provisions 39.58 51.34 Income tax liabilities (net) 100.07 37.35 Total current liabilities 2,167.26 1,900.36 Total liabilities 4,140.72 3,698.40 TOTAL EQUITY AND LIABILITIES 21,650.67 18,578.36 As at Particulars International Gemological Institute Limited (formerly known as International Gemmological Institute (India) Limited) Registered office : 702, 7th floor, The Capital, Bandra Kurla Complex, Bandra (East), Mumbai 400051. Corporate Identification Number (CIN) : L46591MH1999PLC118476 Unaudited consolidated statement of assets and liabilities as at 30 September 2026 Tel: +91 22 4035 2550 Website: https://www.igi.org/ IGI
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(Amount in Rs million, unless otherwise stated) For the six months period ended 30 September 2026 For the six months period ended 30 September 2025 Unaudited Unaudited (Refer note 4) Cash flow from operating activities Profit before tax 4,684.23 3,504.54 Adjustments for: Depreciation on property, plant and equipment 114.31 91.62 Depreciation on right-of-use assets 152.73 110.95 Amortisation of intangible assets 28.03 5.42 Interest income on fixed deposits (324.79) (228.00) Notional interest income on security deposit (4.17) (1.96) Interest expense on lease liabilities 47.52 46.07 Interest expense on deferred consideration 2.36 - Provision for doubtful debts (net of bad debts) 16.25 7.68 Gain on sale of property, plant and equipment 0.24 (1.39) Share based payments 23.37 18.00 Modification of lease (0.86) - Operating profit before changes in working capital 4,739.22 3,552.93 Changes in working capital : (Increase)/Decrease in other financial assets 35.85 620.14 (Increase)/Decrease in other non current assets (1.43) (8.24) (Increase)/Decrease in other current assets (98.02) 136.29 (Increase)/Decrease in inventories 2.17 (13.88) (Increase)/Decrease in trade receivables 466.94 (322.30) Increase/(Decrease) in other financial liabilities 9.63 272.12 Increase/(Decrease) in trade payables (41.53) 73.79 Increase/(Decrease) in provisions 25.80 (9.18) Increase/(Decrease) in other current liabilties 262.75 (45.18) Cash generated from operating activities before taxes 5,401.38 4,256.49 Income tax paid (net) (1,244.68) (1,364.51) Net cash generated from operating activities (A) 4,156.70 2,891.98 Cash flows from investing activities Payment for property, plant and equipment including movement in capital work in-progress and capital advances (409.76) (361.21) Payment for acquisition of other intangible asset (69.06) 1.66 Proceeds from sale of property, plant and equipment 6.11 1.03 Investment in fixed deposits (net) (2,258.46) (1,299.46) Interest income on fixed deposits 156.91 156.76 Net cash (used in) investing activities (B) (2,574.26) (1,501.22) Cash flows from financing activities Principal payment of lease liabilities (147.33) (124.52) Interest paid on lease liabilities (47.52) (46.07) Dividend paid (1,102.01) (1,080.40) Net cash (used in)/generated from financing activities (C) (1,296.86) (1,250.99) Net (decrease) cash and cash equivalents (A+B+C) 285.58 139.78 Foreign currency translation difference of foreign operations 201.05 30.15 Cash and cash equivalents at the beginning of the year 816.30 1,032.45 Cash and cash equivalents at the end of the period 1,302.93 1,202.38 Statement of cash flows has been prepared under the indirect method as set out in the Ind AS 7 "Statement of Cash Flows" as specified in the Companies (Indian Accounting Standards) Rules, 2015. International Gemological Institute Limited (formerly known as International Gemmological Institute (India) Limited) Registered office : 702, 7th floor, The Capital, Bandra Kurla Complex, Bandra (East), Mumbai 400051. Tel: +91 22 4035 2550 Website: https://www.igi.org/ Corporate Identification Number (CIN) : L46591MH1999PLC118476 Unaudited consolidated statement of cash flows for six months ended 30 September 2026 Particulars
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1 2 3 a. (Rs. in million) Financial year (fifteen months) ended 30 September 2026 30 June 2026 30 September 2025 30 September 2026 30 September 2025 (Refer Note 4) 31 March 2026 Within India 2,918.99 2,757.67 2,325.70 5,676.66 4,603.49 12,093.78 Outside India 1,061.25 950.09 711.67 2,011.34 1,443.00 3,882.82 Total 3,980.24 3,707.76 3,037.37 7,688.00 6,046.49 15,976.60 b. (Rs. in million) Particulars As at 30 September 2026 As at 30 June 2026 As at 30 September 2025 As at 31 March 2026 Within India 3,324.26 2,880.12 2,209.19 2,784.95 Outside India 4,015.99 3,978.66 2,741.62 3,996.59 Total 7,340.25 6,858.78 4,950.81 6,781.54 4 5 The unaudited consolidated financial results includes the results of the following direct and indirect subsidiaries: Relationship Direct subsidiary Direct subsidiary Direct subsidiary Indirect subsidiary Indirect subsidiary Indirect subsidiary Indirect subsidiary Indirect subsidiary Indirect subsidiary Indirect subsidiary Indirect subsidiary Indirect subsidiary Indirect subsidiary Indirect subsidiary Indirect subsidiary Indirect subsidiary Indirect subsidiary IGI (Shanghai) Gemological Research and Testing Limited IGI (Shanghai) Gemological Training Company Limited International Gemological Institute for Jewelry and Precious Stones (IGI) International Gemological Institute (Botswana) Proprietary Limited Name of the entity International Gemmological Institute Turkey Precious Stone Certification Services Joint Stock Company International Gemmological Institute BV IGI Netherlands B.V. I.G.I. International Gemmological Institutes (Israel) Ltd. International Gemological Institute FZCO (formerly known as International Gemmological Institute DMCC) IGI Diamonds & Gemstones Testing Laboratory L.L.C International Gemological Institute (HK) Limited International Gemmological Identification (Thailand) Limited International Gemological Institute, Inc. AGL Holdco Inc. American Gemological Laboratories, LLC IGI (Shanghai) Business Consulting Company Limited IGI (Shenzhen) Jewelry Testing Co., Ltd. International Gemological Institute Limited (formerly known as International Gemmological Institute (India) Limited) Registered office : 702, 7th floor, The Capital, Bandra Kurla Complex, Bandra (East), Mumbai 400051. Tel: +91 22 4035 2550 Website: https://www.igi.org/ Corporate Identification Number (CIN) : L46591MH1999PLC118476 Notes to the statement of unaudited consolidated financial results for the quarter and six months ended 30 September 2026 Six months ended The previous financial year was for a period of fifteen months i.e., 01 January 2025 to 31 March 2026 due to transition to uniform financial year. Pursuant to above, this figures for comparative six months period ended 30 September 2025 is arrived by adding the published unaudited figures of the quarter ended 30 June 2025 and 30 September 2025. Further, the unaudited consolidated financial results also includes statement of cash flows for the comparative six months period ended 30 September 2025, which have been prepared by the management and not subject to audit or limited review. The unaudited consolidated financial results of International Gemological Institute Limited (formerly known as International Gemmological Institute (India) Limited) ("the Company") and its subsidaries (together referred as "Group") have been prepared in accordance with Indian Accounting Standards ("Ind AS") notified under Section 133 of the Companies Act, 2013, read together with the Companies (Indian Accounting Standards) Rules, 2015 (as amended) and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended. The unaudited consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 21 October 2026. These unaudited consolidated financial results have been subjected to limited review by the statutory auditors of the Company and they have expressed an unmodified conclusion on these unaudited consolidated financial results. The Group operates in a single operating segment of certification of diamonds, gemstones and jewellery and related education. Accordingly, the Group has only one reportable segment and presented entity wide disclosure as per paragraph 32-24 of Ind AS 108 "Operating Segment". Quarter ended Particulars The carrying amount of Non current operating assets by location of assets: Break up of revenue based on geographical segment:
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International Gemological Institute Limited (formerly known as International Gemmological Institute (India) Limited) Registered office : 702, 7th floor, The Capital, Bandra Kurla Complex, Bandra (East), Mumbai 400051. Tel: +91 22 4035 2550 Website: https://www.igi.org/ Corporate Identification Number (CIN) : L46591MH1999PLC118476 Notes to the statement of unaudited consolidated financial results for the quarter and six months ended 30 September 2026 6 7 For and behalf of the Board of Directors of International Gemological Institute Limited Tehmasp Printer Managing Director and CEO Place: New York, USA DIN: 01306226 Date: 21 October 2026 Previous period/year figures have been regrouped/reclassified wherever necessary to confirm to current period classification. The above consolidated unaudited financial results are available on the Company's website (investor.igi.org) and on the websites of BSE (www.bseindia.com) and NSE (www.nseindia.com). IGI
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MS KA Et Associates LLP (Formerly known as MS KA & Associates) Chartered Accountants HO 602, Floor 6, Raheja Titanium Western Express Highway, Geetanjali Railway Colony, Ram Nagar, Goregaon (E) Mumbai 400063, INDIA Tel: +91 22 6974 0200 Independent Auditor's Review Report on unaudited standalone financial results of International Gemological Institute Limited (formerly known as International Gemmological Institute (India) Limited) for the quarter and year to date pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To the Board of Directors of International Gemological Institute Limited 1. We have reviewed the accompanying statement of standalone unaudited financial results of International Gemological Institute Limited (hereinafter referred to as 'the Company') for the quarter ended September 30, 2026 and year to date results for the period from April 1, 2026 to September 30, 2026 ('the Statement') attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('the Regulations'). 2. This Statement, which is the responsibility of the Company's Management and has been approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 'Interim Financial Reporting' , prescribed under Section 133 of the Companies Act, 2013 ('the Act') read with relevant rules issued thereunder (' Ind AS 34') and other recognised accounting principles generally accepted in India and is in compliance with the Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Act and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 and other recognised accounting principles generally accepted in India has not disclosed the information required to be disclosed in terms of the Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. Registered Office: 602, Raheja Titanium , Western Express Highway, Goregaon (East), Mumbai-400063, Maharashtra, India Tel: +91 22 6974 0200 I LLPIN: ACT-3789 Ahmedabad I Bengaluru I Chandigarh I Chennai I Coimbatore I Goa I Gurugram I Hyderabad I Kochi I Kolkata I Pune www.mska.in
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MSKA & Associates LLP (Formerly known as MS KA & Associates) Chartered Accountants 5. The Statement includes the results for the comparative six months period ended September 30, 2025, which is arrived by adding the published unaudited figures of the quarter ended June 30, 2025 and September 30, 2025, which were subjected to a limited review by us. Further, the Statement also include statement of cash flows for the comparative six months period ended September 30, 2025, which have been prepared by the management and not subjecte d to audit or limited review. Our conclusion is not modified in respect of the above matter. For MS KA & Associates LLP (Formerly known as MS KA & Associates) Chartered Accountants ICAI Firm Registration No. 105047W /W101187 AnK ~ . A-_ · Ankush Agrawal Partner Membership No.: 159694 UDIN: 2, I 59 c;ql\ BOY Place: Mumbai Date: October 21,2026 Registered Office: 602, Raheja Titanium, Western Express Highway, Goregaon (East), Mumbai-400063, Maharashtra, India Tel: +91 22 6974 0200 I LLPIN: ACT-3789 Ahmedabad I Bengaluru I Chandigarh I Chennai I Coimbatore I Goa I Gurugram I Hyderabad I Kochi I Kolkata I Mumbai I Pune www.mska.in
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Previous financial year to date period from Financial year (fifteen months) ended 30 September 2026 30 June 2026 30 September 2025 30 September 2026 30 September 2025 01 January 2025 to 30 September 2025 31 March 2026 Unaudited Unaudited Unaudited Unaudited Unaudited (Refer Note 4) Unaudited Audited (Refer note 4) I Income a) Revenue from operations 3,056.02 2,861.55 2,407.68 5,917.57 4,748.98 7,090.99 12,524.22 b) Other income 220.79 160.26 115.82 381.05 260.93 362.79 673.29 Total income (I) 3,276.81 3,021.81 2,523.50 6,298.62 5,009.91 7,453.78 13,197.51 II Expenses a) Purchase of stock-in-trade 41.69 12.51 - 54.20 - 2.32 21.62 b) Change in inventories of stock-in-trade (5.88) 8.58 19.78 2.70 9.12 11.50 (6.02) c) Employee benefits expense 391.94 358.38 303.81 750.32 609.70 882.96 1,511.25 d) Finance costs 8.49 8.63 4.69 17.12 10.09 15.65 27.83 e) Depreciation and amortisation expenses 60.00 59.00 40.33 119.00 81.57 120.01 219.48 f) Other expenses 505.58 511.98 330.31 1,017.56 666.97 912.52 1,800.90 Total expenses (II) 1,001.82 959.08 698.92 1,960.90 1,377.45 1,944.96 3,575.06 III Profit before tax (I-II) 2,274.99 2,062.73 1,824.58 4,337.72 3,632.46 5,508.82 9,622.45 EBITDA 2,122.69 1,970.10 1,753.78 4,092.79 3,463.19 9,196.47 IV Tax expenses: 69.5% 69% 73% 69% 73% 73% a) Current tax 588.28 496.94 462.15 1,085.22 890.71 1,376.36 2,428.68 b) Adjustment of tax relating to earlier year - - (10.00) - (20.00) (20.00) (30.00) c) Deferred tax (credit)/charge (10.54) 19.77 (18.84) 9.23 (4.32) (5.04) 8.99 Total tax expenses 577.74 516.71 433.31 1,094.45 866.39 1,351.32 2,407.67 V Profit for the period/year (III-IV) 1,697.25 1,546.02 1,391.27 3,243.27 2,766.07 4,157.50 7,214.78 VI Other comprehensive income: Items that will not be reclassified to profit or loss: a) Remeasurement of actuarial gain/(loss) (9.87) 3.18 (2.23) 9.68 (6.69) (11.23) 33.14 b) Income tax on above 2.49 (0.80) 0.57 (2.44) 1.69 2.83 (8.34) Other Comprehensive income/(loss), net of tax (7.38) 2.38 (1.66) 7.24 (5.00) (8.40) 24.80 VII Total Comprehensive Income for the period/year (V+VI) 1,689.87 1,548.40 1,389.61 3,250.51 2,761.07 4,149.10 7,239.58 VIII Paid-up equity share capital 864.32 864.32 864.32 864.32 864.32 864.32 864.32 IX Other equity 25,044.03 X Earnings per equity share (in Rs) of face value Rs 2 each (a) Basic (in Rs)/share (not annualised for period) 3.93 3.58 3.22 7.50 6.40 9.62 16.69 (b) Diluted (in Rs)/share (not annualised for period) 3.80 3.46 3.11 7.26 6.17 9.24 16.15 Particulars (Amount in Rs million, unless otherwise stated) International Gemological Institute Limited (formerly known as International Gemmological Institute (India) Limited) Statement of unaudited standalone financial results for the quarter and six months ended 30 September 2026 Registered office : 702, 7th floor, The Capital, Bandra Kurla Complex, Bandra (East), Mumbai 400051. Tel: +91 22 4035 2550 Website: https://www.igi.org/ Corporate Identification Number (CIN) : L46591MH1999PLC118476 Quarter ended Six months ended G)
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(Amount in Rs million, unless otherwise stated) 30 September 2026 31 March 2026 Unaudited Audited (Refer note 4) ASSETS Non-current assets Property, plant and equipment 955.70 931.53 Right-of-use assets 529.40 444.91 Capital work-in-progress 728.58 618.70 Other intangible assets 27.12 28.96 Financial assets (i) Investment in subsidiaries 14,308.65 14,308.65 (ii) Other financial assets 558.42 2,065.57 (iii) Income tax assets (net) 709.69 536.35 (iv) Deferred tax asset (net) 48.07 76.17 Other non current assets 375.20 224.50 Total non-current assets 18,240.83 19,235.34 Current assets Inventories 9.82 12.52 Financial assets (i) Trade receivables 2,142.57 2,584.77 (ii) Cash and cash equivalents 55.07 26.44 (iii) Bank balances other than cash and cash equivalents 4,142.73 1,585.06 (iv) Loans 84.47 84.57 (v) Other financial assets 5,087.99 3,570.87 Other current assets 123.22 138.09 Total current assets 11,645.87 8,002.32 TOTAL ASSETS 29,886.70 27,237.66 EQUITY AND LIABILITIES Equity Equity share capital 864.32 864.32 Other equity 27,199.48 25,044.03 Total equity 28,063.80 25,908.35 Liabilities Non-current liabilities Financial liabilities (i) Lease liabilities 296.06 238.61 Provisions 137.15 120.62 Total non-current liabilities 433.21 359.23 Current liabilities Financial liabilities (i) Lease liabilities 131.77 113.30 (ii) Trade payables Total outstanding dues of micro enterprises and small enterprises 6.73 28.40 Total outstanding dues of creditors other than micro enterprises and small enterprises 196.27 162.84 (iii) Other financial liabilities 266.09 178.98 Other current liabilities 752.77 451.85 Provisions 36.06 34.71 Total current liabilities 1,389.69 970.08 Total liabilities 1,822.90 1,329.31 TOTAL EQUITY AND LIABILITIES 29,886.70 27,237.66 Particulars As at International Gemological Institute Limited (formerly known as International Gemmological Institute (India) Limited) Registered office : 702, 7th floor, The Capital, Bandra Kurla Complex, Bandra (East), Mumbai 400051. Tel: +91 22 4035 2550 Website: https://www.igi.org/ Corporate Identification Number (CIN) : L46591MH1999PLC118476 Unaudited standalone statement of asset & liabilities as at 30 September 2026 IGI
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For the six months period ended 30 September 2026 For the six months period ended 30 September 2025 Unaudited Unaudited (Refer note 4) Cash flow from operating activities Profit before tax 4,337.72 3,632.46 Adjustments for: Depreciation on property, plant and equipment 41.02 29.71 Depreciation on right-of-use assets 72.62 46.44 Amortisation of intangible assets 5.36 5.42 Interest income on fixed deposits (317.45) (223.37) Notional interest income on security deposit (2.34) (1.63) Exchange (gain)/loss (5.65) - Interest income on loan to related party (4.22) (11.26) Interest expense on lease liabilities 17.12 10.09 Provision/(reversal) for doubtful debts (net of bad debts) 14.50 (15.00) Loss/(gain) on sale of property, plant and equipment (1.19) (2.65) Share based payments 23.37 18.00 Modification to lease terms (0.86) - Operating profit before changes in working capital 4,180.00 3,488.22 Changes in working capital : (Increase)/Decrease in other financial assets 31.96 252.50 (Increase)/Decrease in other non current assets/current assets 13.44 81.27 (Increase)/Decrease in loans 0.10 (2.71) (Increase)/Decrease in inventories 2.70 (13.88) (Increase)/Decrease in trade receivables 433.35 (278.31) Increase/(Decrease) in other financial liabilities 83.22 (230.98) Increase/(Decrease) in trade payables 11.76 374.36 Increase/(Decrease) in provisions 27.56 9.14 Increase/(Decrease) in other current liabilities 300.92 (23.69) Cash generated from operating activities before taxes 5,085.01 3,655.91 Income tax paid (net) (1,258.55) (1,261.25) Net cash generated from operating activities (A) 3,826.46 2,394.67 Cash flows from investing activities (325.37) (288.38) Payment on acquisition of other intangible asset (3.52) (0.06) 6.11 1.03 Interest income on loan to related party 4.22 1.78 Investment in fixed deposits (net) (2,433.30) (1,295.82) Interest income on fixed deposits 153.49 152.03 Net cash used in investing activities (B) (2,598.37) (1,429.41) Cash flows from financing activities Principal payment of lease liabilities (80.33) (54.16) Interest paid on lease liabilities (17.12) (10.09) Dividend paid (1,102.01) (1,080.40) Net cash used in from financing activities (C) (1,199.46) (1,144.65) Net increase / (decrease) in cash and cash equivalents (A+B+C) 28.63 (179.39) Cash and cash equivalents at the beginning of the year 26.44 274.83 Cash and cash equivalents at the end of the period 55.07 95.44 Statement of cash flows has been prepared under the indirect method as set out in the Ind AS 7 "Statement of Cash Flows" as specified in the Companies (Indian Accounting Standards) Rules, 2015. International Gemological Institute Limited (formerly known as International Gemmological Institute (India) Limited) Registered office : 702, 7th floor, The Capital, Bandra Kurla Complex, Bandra (East), Mumbai 400051. Tel: +91 22 4035 2550 Website: https://www.igi.org/ Corporate Identification Number (CIN) : L46591MH1999PLC118476 Unaudited standalone statement of cash flows for six months ended 30 September 2026 (Amount in Rs million, unless otherwise stated) Particulars Payment for purchase of property, plant and equipment including movement in capital work-in-progress and capital advances Proceeds from sale of property, plant and equipment and intangiable assets
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1 2 3 a. (Rs. in million) Financial year (fifteen months) ended 30 September 2026 30 June 2026 30 September 2025 30 September 2026 30 September 2025 (Refer Note 4) 31 March 2026 Within India 2,918.99 2,757.67 2,325.70 5,676.66 4,603.49 12,093.78 Outside India 137.03 103.88 81.98 240.91 145.49 430.44 Total 3,056.02 2,861.55 2,407.68 5,917.57 4,748.98 12,524.22 b. (Rs. in million) Particulars As at 30 September 2026 As at 30 June 2026 As at 30 September 2025 As at 31 March 2026 Within India 3,324.26 2,880.12 2,209.19 2,784.95 Outside India - - - - Total 3,324.26 2,880.12 2,209.19 2,784.95 4 5 6 For and behalf of the Board of Directors of International Gemological Institute Limited Tehmasp Printer Managing Director & CEO Place: New York, USA DIN: 01306226 Date: 21 October 2026 The above standalone unaudited financial results are available on the Company's website (investor.igi.org) and on the websites of BSE (www.bseindia.com) and NSE (www.nseindia.com). The previous financial year was for a period of fifteen months i.e., 01 January 2025 to 31 March 2026 due to transition to uniform financial year. Pursuant to above, this figures for comparative six months period ended 30 September 2025 is arrived by adding the published unaudited figures of the quarter ended 30 June 2025 and 30 September 2025. Further, the unaudited standalone financial results also includes statement of cash flows for the comparative six months period ended 30 September 2025, which have been prepared by the management and not subject to audit or limited review. Corporate Identification Number (CIN) : L46591MH1999PLC118476 Notes to the Statement of unaudited standalone financial results for the quarter and six months ended 30 September 2026 Quarter ended The carrying amount of Non current operating assets by location of assets: Six months ended International Gemological Institute Limited (formerly known as International Gemmological Institute (India) Limited) Registered office : 702, 7th floor, The Capital, Bandra Kurla Complex, Bandra (East), Mumbai 400051. Tel: +91 22 4035 2550 Website: https://www.igi.org/ Previous period/year figures have been regrouped/reclassified wherever necessary to confirm to current period classification. The unaudited standalone financial results of International Gemological Institute Limited (formerly known as International Gemmological Institute (India) Limited) ("the Company") have been prepared in accordance with Indian Accounting Standards ("Ind AS") notified under Section 133 of the Companies Act, 2013, read together with the Companies (Indian Accounting Standards) Rules, 2015 (as amended) and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended. The unaudited standalone financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 21 October 2026. These unaudited standalone financial results have been subjected to limited review by the statutory auditors of the Company and they have expressed an unmodified conclusion on these unaudited standalone financial results. The Company operates in a single operating segment of certifications of diamonds, gemstones and jewellery and related education. Accordingly, the Company has only one reportable segment and has presented entity wide disclosure as per paragraph 32-24 of Ind AS 108 "Operating Segment". Break up of revenue based on geographical segment: Particulars IGI