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Swing Capital

International Gemmological Institute (India) Ltd

NSE: IGIL BSE: 544311

International Gemological Institute Ltd is world's largest independent certification and acccreditation services provider in the fields of diamond, gemstone and jewellery[1]

₹315
52W: ₹287 — ₹442
PE 24.9 · Book ₹58.4 · +439% vs book
Market Cap₹13,617 Cr
Stock P/E24.9Price to Earnings
ROCE30.7%Return on Capital
ROE23.2%Return on Equity
Div. Yield0.78%Face Value ₹2

Strengths

  • +Company is almost debt free.
  • +Company has delivered good profit growth of 67.8% CAGR over last 5 years
  • +Company has a good return on equity (ROE) track record: 3 Years ROE 31.8%

Shareholding Pattern

Promoters76.55%
FIIs8.6%
DIIs6.38%
Public8.46%
CategoryDec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters76.55%76.55%76.55%76.55%76.55%76.55%
FIIs9.1%9.87%▲0.810.18%▲0.310.55%▲0.49.61%▼0.98.6%▼1.0
DIIs5.87%5.88%▲0.05.44%▼0.45.15%▼0.35.44%▲0.36.38%▲0.9
Public8.47%7.69%▼0.87.82%▲0.17.75%▼0.18.39%▲0.68.46%▲0.1

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales184209197189190234234241247
Expenses554372484852636575
Operating Profit129166125141142182171175172
OPM %70%79%63%75%75%78%73%73%70%
Net Profit8812696108112139137139132
EPS ₹002.422.722.583.223.183.223.04

AI Insights

Revenue Trend

Dec 2025 revenue at ₹956Cr, up 21.8% YoY. OPM at 73%.

Debt Position

Borrowings at ₹36Cr. Debt-to-equity ratio: 0.01x. Healthy balance sheet.

Capex Cycle

CWIP at ₹59Cr (43% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 6.38% (+0.51pp change). FIIs: 8.6% (-0.50pp change). Promoters hold 76.55%.

Margin & Efficiency

ROCE improving from 0% (Mar 2019) to 31% (Dec 2025). Working capital days: 173.

Valuation

PE 24.9x with 30.7% ROCE. Price is 439% above book value of ₹58.4. Dividend yield: 0.78%.

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