IGIL · Services
Depreciation fell while the business grew. Were asset lives changed?
Depreciation ₹10.0 cr, −23.1% on the year.
Source: Quarterly statements
Headline profit grew much faster than core profit. What made up the difference?
Reported profit +62.8% on the year; profit before other income, exceptional items and tax +45.0%.
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹250 cr | ₹278 cr | ₹260 cr | ₹250 cr | ₹265 cr | ₹305 cr | ₹301 cr | ₹304 cr | ₹320 cr | ₹369 cr | ₹371 cr | ₹398 cr |
| YoY | — | — | — | — | +6% | +10% | +16% | +22% | +21% | +21% | +23% | +31% |
| EBITDA margin | 51.2% | 62.2% | 48.8% | 58.8% | 57.4% | 64.3% | 57.8% | 57.9% | 59.7% | 64.0% | 60.4% | 61.6% |
| Other income, % of PBT | 7% | 7% | 3% | 6% | 8% | 4% | 8% | 7% | 6% | 8% | 7% | 8% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 35% | 26% | 32% | 26% | 26% | 26% | 28% | 26% | 29% | 25% | 26% | 24% |
| Net profit | ₹78.0 cr | ₹126 cr | ₹78.0 cr | ₹110 cr | ₹114 cr | ₹141 cr | ₹127 cr | ₹130 cr | ₹135 cr | ₹180 cr | ₹166 cr | ₹186 cr |
| YoY | — | — | — | — | +46% | +12% | +63% | +18% | +18% | +28% | +31% | +43% |
| Core profit YoY | — | — | — | — | +26% | +15% | +45% | +18% | +26% | +21% | +29% | +39% |
| EPS | — | — | ₹1.96 | ₹2.76 | ₹2.63 | ₹3.26 | ₹2.93 | ₹3.00 | ₹3.11 | ₹4.16 | ₹3.84 | ₹4.30 |
| Flags | · | · | · | · | 2 | 1 | 2 | ✓ | ✓ | ✓ | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
International Gemological Institute Ltd. reported revenue of ₹301 cr (+15.8% on the year) and net profit of ₹127 cr (+62.8% on the year) for April to June 2025.
Profit before other income, exceptional items and tax moved +45.0% on the year, against +62.8% for reported profit.
2 checks raised a question: Depreciation fell while the business grew. Were asset lives changed?
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