The company has reported 16% growth in revenues and 37% growth in EBITDA on a year-on-year basis, driven by strong growth momentum across all its key business segments, viz, natural diamonds, lab-grown diamonds, jewelry, and gemstones.

Consolidated revenue from operations for the quarter stood at INR 3,009 Mn, and EBITDA stood at INR 1,735 Mn. The EBITDA margin has improved from 49% in Q2 2024 to 58% in Q2 2025. PAT for Q2 2025 was reported as INR 1,265 Mn, a growth of 63% on a year-on-year basis, with PAT margins at 42% vs 30% in Q2 2024.

For the Half year ended June 2025, the Company has reported 13% growth in revenues from operations and 23% growth in EBITDA in H1 2025 when compared with H1 2024. EBITDA margins are up from 56% in H1 2024 to 61% in H1 2025. The consolidated PAT for H1 2025 stood at INR 2,673 Mn, showing a 31% increase over H1 2024, with margins up from 38% in H1 2024 to 44% in H1 2025

Key financial highlights – IGI Consolidated (INR in MN):

Tehmasp Printer, Managing Director and CEO of IGI, said,

“I am happy to report the Company has seen strong growth momentum across all its segments compared to the previous quarter.

For over a century, the 4Cs—cut, color, clarity, and carat—have served as the universal language of diamond quality. At IGI, we uphold these standards not out of convention, but out of a deep respect for the consumer’s right to make informed decisions and feel confident in every purchase. Modern consumers are increasingly discerning—they demand transparency, authenticity, and traceability. In today’s market, identifying the origin of a diamond—whether natural or lab-grown—has become critically important, both for ethical assurance and value clarity.

At IGI, we have gone beyond the traditional 4Cs and have introduced a proprietary ‘Light Performance Analysis’, which is a scientific assessment that measures how a diamond interacts with light. This would provide a deeper insight into critical visual attributes—brightness, fire, and contrast—which collectively define a diamond’s true ‘sparkle’.

Additionally, along with our core segments of natural diamond certification and lab-grown diamond certification, we are also seeing a strong demand for certification of natural diamond and lab-grown diamond jewelry, which will further accelerate the growth of our business in the quarters to come.”  

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De Beers Group, the world’s leading diamond company, and Tanishq, India’s largest jewelry retail brand from the Tata group, today announced a long-term strategic collaboration to connect more Indian consumers with the rarity and preciousness of natural diamonds and amplify the growing opportunity in the Indian market.

With a vibrant economy, a growing middle class, and discerning consumers who seek jewelry with enduring value, demand for natural diamond jewelry from Indian consumers has surged recently and now represents 11 percent of global demand. This has seen India replace China as the second-largest market in the world for natural diamond jewelry. With diamond acquisition rates in India well below those in mature markets such as the US, this provides a significant opportunity to catalyze further growth for natural diamond jewelry in India.

To help unlock the growth opportunity, Tanishq, and De Beers have agreed to come together on a long-term collaboration to enhance consumer education, interest, and confidence, and to promote natural diamonds across India. Through this collaboration, the two parties will capitalize on Tanishq’s deep understanding of the Indian market built up over three decades, combined with De Beers’ expertise in the diamond category, to deepen consumer desire for and confidence in natural diamonds, underscoring their inherent value, rarity, and timelessness.

The collaboration will focus on building extensive consumer outreach, deepening the capabilities of Tanishq’s retail staff to communicate about natural diamonds, educating consumers about authenticity, and shaping customer experiences as they explore their desire for natural diamonds and studded jewelry. This will also be supported by a compelling 360-degree marketing campaign to build awareness and target expanding the customer base in the country, including first-time buyers.

The new collaboration builds on the existing relationship between Tanishq and De Beers, with Tanishq already using De Beers’ proprietary diamond verification technology to support the assurance of the authenticity of its products. The two parties are also in talks regarding opportunities to collaborate on traceability, how Tanishq’s diamond supply needs can best be met, and further opportunities to use De Beers’ proprietary technologies to support pipeline integrity.

Sandrine Conseiller, CEO of De Beers Brands, said: “India’s love affair with diamonds has flourished over thousands of years, and we are thrilled to partner with Tanishq to unlock the full potential of this vibrant market. Like De Beers, Tanishq recognizes the power, preciousness, and prestige of natural diamonds, and combining our expertise with their deep understanding of the Indian market, we will work together to create something special to connect more Indian consumers to these natural treasures and their enduring value.”

Ajoy Chawla, CEO of, Jewellery Division, Titan Company Limited, said: “The opportunity in India for diamonds is massive, given the very low penetration of studded jewelry and the rising per capita incomes in the world’s most populous country. Tanishq has been a pioneer in democratizing diamond jewelry in the market for three decades and has always targeted the modern progressive woman. Tanishq Diamonds adheres to the strictest standards, with all diamonds responsibly sourced in compliance with the Kimberley Process Certification Scheme (KPCS) and the Tanishq Suppliers Engagement Protocol (TSEP).

We offer our certificate of Tanishq Diamond guarantee and have the most transparent buyback policy in India, enabling trust and peace of mind for our customers. In an increasingly man-made world where virtual living is becoming the norm, people crave authentic brands, and real experiences and value natural, wholesome products. All Tanishq Diamonds are natural, rare, and valuable and have attracted our customers with innovative designs. The collaboration with De Beers will unlock new opportunities for both Tanishq and the diamond sector, celebrating the eternal beauty of these miracles of nature.”

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