Other Utilities
Valuation | |
|---|---|
| Market Cap | 5.3 kCr |
| Price/Earnings (Trailing) | 23.55 |
| Price/Sales (Trailing) | 1.8 |
| EV/EBITDA | 17.31 |
| Price/Free Cashflow | -20.75 |
| MarketCap/EBT | 21.55 |
| Enterprise Value | 5.5 kCr |
Fundamentals | |
|---|---|
Growth & Returns | |
|---|---|
| Price Change 1W | -0.30% |
| Price Change 1M | -4.6% |
| Price Change 6M | -20% |
| Price Change 1Y | -34.2% |
| 3Y Cumulative Return | 9.4% |
Cash Flow & Liquidity | |
|---|---|
| Cash Flow from Investing (TTM) | -164.57 Cr |
| Cash Flow from Operations (TTM) |
| Revenue (TTM) |
| 2.94 kCr |
| Rev. Growth (Yr) | 6.7% |
| Earnings (TTM) | 182.16 Cr |
| Earnings Growth (Yr) | -58.5% |
Profitability | |
|---|---|
| Operating Margin | 9% |
| EBT Margin | 8% |
| Return on Equity | 14.07% |
| Return on Assets | 5.86% |
| Free Cashflow Yield | -4.82% |
| 32.05 Cr |
| Cash Flow from Financing (TTM) | 128.2 Cr |
| Cash & Equivalents | 204.52 Cr |
| Free Cash Flow (TTM) | -288.34 Cr |
| Free Cash Flow/Share (TTM) | -19.66 |
Balance Sheet | |
|---|---|
| Total Assets | 3.11 kCr |
| Total Liabilities | 1.82 kCr |
| Shareholder Equity | 1.29 kCr |
| Current Assets | 2.18 kCr |
| Current Liabilities | 1.41 kCr |
| Net PPE | 615.08 Cr |
| Inventory | 386.14 Cr |
| Goodwill | 10.21 Cr |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.13 |
| Debt/Equity | 0.31 |
| Interest Coverage | 13.62 |
| Interest/Cashflow Ops | 3.45 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 1.5 |
| Dividend Yield | 0.42% |
| Shares Dilution (1Y) | 0.00% |
| Shares Dilution (3Y) | 0.00% |
Technicals: Bullish SharesGuru indicator.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Size: Market Cap wise it is among the top 20% companies of india.
Balance Sheet: Strong Balance Sheet.
Past Returns: In past three years, the stock has provided 9.4% return compared to 13% by NIFTY 50.
Momentum: Stock is suffering a negative price momentum. Stock is down -4.6% in last 30 days.
Smart Money: Smart money looks to be reducing their stake in the stock.
Technicals: Bullish SharesGuru indicator.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Size: Market Cap wise it is among the top 20% companies of india.
Balance Sheet: Strong Balance Sheet.
Past Returns: In past three years, the stock has provided 9.4% return compared to 13% by NIFTY 50.
Momentum: Stock is suffering a negative price momentum. Stock is down -4.6% in last 30 days.
Smart Money: Smart money looks to be reducing their stake in the stock.
Investor Care | |
|---|---|
| Dividend Yield | 0.42% |
| Dividend/Share (TTM) | 1.5 |
| Shares Dilution (1Y) | 0.00% |
| Earnings/Share (TTM) | 15.34 |
Financial Health | |
|---|---|
| Current Ratio | 1.55 |
| Debt/Equity | 0.31 |
Technical Indicators | |
|---|---|
| RSI (14d) | 58.33 |
| RSI (5d) | 47.47 |
| RSI (21d) | 38.84 |
| MACD Signal | Buy |
| Stochastic Oscillator Signal | Hold |
| SharesGuru Signal | Buy |
| RSI Signal | Hold |
| RSI5 Signal | Hold |
| RSI21 Signal | Hold |
| SMA 5 Signal | Buy |
| SMA 10 Signal |
Summary of Ion Exchange (India)'s latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
For Q2 FY 2025-26, Ion Exchange (India) Limited reported a consolidated operating income of INR 7,339 million, reflecting a year-on-year increase of 14%. The EBITDA was INR 685 million, with a margin of 9.33%. The net profit was INR 499 million, down 1.4% year-on-year. For the first half of the financial year, operating income reached INR 13,171 million (up 9% year-on-year), EBITDA at INR 1,310 million (down 1%), and net profit at INR 984 million (up 3%).
Looking ahead, management anticipates improvement in the engineering segment with expected margins of 6-7% in the second half, driven by a backlog of projects with better profitability. Currently, the order book stands at INR 27,110 million, with an order inflow of INR 4,700 million this quarter. There's considerable growth expected in their chemical segment, with a projected year-on-year growth of 9-10%.
The Roha plant has commenced partial operations, and management expects to reach about 25% capacity utilization in the first year, gradually ramping up to optimal levels over the next three to four years. The strategic partnership with MANN+HUMMEL aims to enhance local manufacturing of membranes, reducing import dependence and improving cost efficiency.
Management also emphasizes the need to optimize project selection, citing lessons learned from legacy projects impacting current margins. Future projects will be more focused on value addition across both engineering and chemical segments. The company continues to reinvest earnings into its business to strengthen market presence and share. Overall, Ion Exchange is optimistic about its growth trajectory and continues to navigate challenges while positioning itself strategically in the market.
Understand Ion Exchange (India) ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| Rajesh Sharma | 5.64% |
| Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund | 5.39% |
| Mahabir Prasad Patni | 4.68% |
| Dinesh Sharma | 4.11% |
| Bimal Jain | 2.48% |
| Franklin India Small Cap Fund | 2.25% |
| Aankur Patni | 2.01% |
Detailed comparison of Ion Exchange (India) against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Comprehensive comparison against sector averages
IONEXCHANG metrics compared to Other
| Category | IONEXCHANG | Other |
|---|---|---|
| PE | 23.55 | 17.61 |
| PS | 1.80 | 2.82 |
| Growth | 7.7 % | 1.9 % |
Ion Exchange (India) Limited, together with its subsidiaries, provides water and environment management solutions in India and internationally. It operates through Engineering, Chemicals, and Consumer Products segments. The company offers raw water, process, post, and drinking water treatment; waste water, water recycle, and zero liquid discharge systems; sludge dewatering and waste to energy systems; ion exchange process, membrane process, ion exchange membrane process, and 3D modelling systems; water purification equipment; and catalyst grade, adsorbent grade, chemical and special process, pharma grade, nuclear grade, hydrometallurgy, food and beverage, bio diesel, and sugar refining resins. It also provides nano filtration, ultra-filtration, low pressure and sea water RO, fouling resistant, and brackish resistant membranes; and cooling and boiler water treatment products, fireside treatment products, coagulants, flocculants, membrane cleaning chemicals, and water testing kits. In addition, the company offers INDION online controllers and transmitters, water quality monitoring instruments, water quality measuring indicators, remote monitoring systems, and online effluent monitoring systems; and consultancy, operator training, design engineering, project financing, and operations and maintenance services, as well as installation, commissioning, rehabilitation, and plant automation services. The company serves automotive, cement, chemicals, electronics, food and beverage, fertilizers, paper and pulp, pharma, power, refinery and petrochemical, steel and metallurgy, mining and minerals, sugar, and textiles industries; educational, hospitality, hospital, laboratory, railway, and defense institutions; communities and municipalities; and residential and commercial establishments industries. Ion Exchange (India) Limited was incorporated in 1964 and is based in Mumbai, India.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
| Buy |
| SMA 20 Signal | Buy |
| SMA 50 Signal | Sell |
| SMA 100 Signal | Sell |
IONEXCHANG vs Other (2023 - 2026)
Here are the key questions and answers from the Q&A section of the earnings transcript for Ion Exchange (India) Limited:
Question: "On the engineering front, we saw execution picking up at 18% growth, but margins were at an all-time low at 4.8%. How do we reconcile these two situations?"
Answer: "The revenue growth in engineering stemmed from catching up on backlog after SAP implementation. Margins dropped due to challenges in specific projects, particularly UP execution. We expect profitability to improve once we execute upcoming higher-margin projects late this financial year."
Question: "Can you quantify how much of the legacy projects are left to execute?"
Answer: "We do not disclose specifics about legacy project execution percentages. However, we anticipate completing these challenging projects by year-end, which we believe will help stabilize margins moving forward."
Question: "What is your revenue and margin guidance for FY'26 in the engineering segment?"
Answer: "We expect second half engineering margins to be around 6-7%. We anticipate better performance based on the improved profit margins from new projects started in upcoming quarters."
Question: "With the Roha plant now commissioned, should we expect an increase in revenue growth?"
Answer: "Yes, we expect revenue growth to pick up. We aim for the Roha plant to reach optimal capacity utilization over the next three to four years, targeting around 25% utilization in its first year of production."
Question: "What are the levers driving growth in the consumer products division?"
Answer: "We're leveraging market-leading products and increasing marketing efforts, including campaigns and product launches. Our strategy focuses on gaining market share in emerging segments like alkaline water while expanding geographically."
Question: "Can you elaborate on the MANN+HUMMEL partnership?"
Answer: "This collaboration focuses on enhancing our membrane portfolio, especially in waste and biopharma applications. It allows local manufacture of high-tech membranes, which strengthens our market position and enhances competitiveness."
Question: "When can we expect the full capacity of the Roha plant to be commissioned?"
Answer: "We plan to complete commissioning by the end of this financial year, with gradual ramp-up in production expected over the next three to four years."
Question: "What has been the impact of elevated infrastructure costs on margins?"
Answer: "Infrastructure costs have affected margins, particularly in the engineering segment due to fixed expenses. We're addressing this by focusing on project execution and minimizing legacy project impacts."
These questions reflect the company's focus on operational performance, guidance on profitability, and strategic partnerships aimed at enhancing market competitiveness.
| Abakkus Emerging Opportunities Fund-1 | 1.85% |
| Aqua Investments (India) Limited | 1.73% |
| Radha Menon | 1.36% |
| Girish P Lad | 1.34% |
| Amey Nargolkar | 1.33% |
| Judith Judy M Pereira | 1.33% |
| Thathamangalam Subramanian Viswanathan | 1.33% |
| Watercare Investments (India) Limited | 1.26% |
| Vishnu Ranganathan | 1.1% |
| Sundaram Mutual Fund A/C Sundaram Small Cap Fund | 1.06% |
| Uma Gopal Ranganathan | 0.91% |
| Aruna Sharma | 0.75% |
| Poonam Sharma | 0.34% |
Distribution across major stakeholders
Distribution across major institutional holders
| -3.90% |
| -16.70% |
| 48.73 |
| 3.31 |
| - |
| - |
| KEC | KEC International | 16.81 kCr | 24.03 kCr | -16.10% | -22.30% | 24.67 | 0.7 | - | - |
| WABAG | VA Tech Wabag | 7.46 kCr | 3.6 kCr | -6.80% | -10.80% | 23.22 | 2.07 | - | - |
| PRAJIND | Praj Industries | 5.32 kCr | 3.23 kCr | -10.00% | -51.80% | 50.46 | 1.65 | - | - |
| 701 |
| 681 |
| 535 |
| 764 |
| 630 |
| 591 |
| Profit Before exceptional items and Tax | -34.3% | 45 | 68 | 65 | 85 | 69 | 68 |
| Exceptional items before tax | - | -16.97 | 0 | 0 | 0 | 0 | 0 |
| Total profit before tax | -59.7% | 28 | 68 | 65 | 85 | 69 | 68 |
| Current tax | -57.8% | 7.75 | 17 | 16 | 25 | 16 | 19 |
| Deferred tax | -61.5% | 0.37 | 0.61 | 1.46 | -3.12 | 4.49 | -1 |
| Total tax | -58.1% | 8.12 | 18 | 17 | 22 | 20 | 18 |
| Total profit (loss) for period | -59.2% | 21 | 50 | 48 | 63 | 50 | 51 |
| Other comp. income net of taxes | -117.9% | 0.7 | 2.68 | 2.09 | 0.92 | -0.91 | 0.52 |
| Total Comprehensive Income | -61.5% | 21 | 53 | 51 | 64 | 49 | 51 |
| Earnings Per Share, Basic | -77.7% | 1.71 | 4.18 | 4.11 | 5.34 | 4.096 | 4.3 |
| Earnings Per Share, Diluted | -77.7% | 1.71 | 4.18 | 4.11 | 5.34 | 4.096 | 4.3 |
| 6.36 |
| 7.57 |
| Depreciation and Amortization | 21.9% | 40 | 33 | 28 | 27 |
| Other expenses | 23.2% | 346 | 281 | 236 | 209 |
| Total Expenses | 17.9% | 2,303 | 1,953 | 1,694 | 1,347 |
| Profit Before exceptional items and Tax | 5.1% | 288 | 274 | 245 | 209 |
| Total profit before tax | 5.1% | 288 | 274 | 245 | 209 |
| Current tax | 9.1% | 73 | 67 | 62 | 58 |
| Deferred tax | -124.5% | 0.54 | 2.88 | -1.38 | -3.54 |
| Total tax | 5.8% | 74 | 70 | 61 | 55 |
| Total profit (loss) for period | 4.9% | 214 | 204 | 185 | 154 |
| Other comp. income net of taxes | 42.6% | -0.08 | -0.88 | -2.36 | -1.47 |
| Total Comprehensive Income | 5.4% | 214 | 203 | 182 | 153 |
| Earnings Per Share, Basic | 5.4% | 17.45 | 16.603 | 15.026 | 12.544 |
| Earnings Per Share, Diluted | 5.4% | 17.45 | 16.603 | 15.026 | 12.544 |
| 85.6% |
| 517 |
| 279 |
| 258 |
| 251 |
| 220 |
| 199 |
| Capital work-in-progress | -36.4% | 202 | 317 | 133 | 61 | 34 | 42 |
| Non-current investments | 0% | 86 | 86 | 85 | 84 | 92 | 68 |
| Loans, non-current | 1.6% | 63 | 62 | 32 | 22 | 22 | 22 |
| Total non-current financial assets | 2.6% | 161 | 157 | 126 | 116 | 123 | 99 |
| Total non-current assets | 13.6% | 936 | 824 | 595 | 472 | 395 | 355 |
| Total assets | 3.1% | 2,981 | 2,891 | 2,514 | 2,331 | 2,035 | 1,965 |
| Borrowings, non-current | 44.2% | 285 | 198 | 85 | 44 | 18 | 16 |
| Total non-current financial liabilities | 38.1% | 309 | 224 | 112 | 67 | 38 | 28 |
| Provisions, non-current | 25% | 21 | 17 | 23 | 23 | 21 | 21 |
| Total non-current liabilities | 37.1% | 330 | 241 | 135 | 90 | 59 | 49 |
| Borrowings, current | 14.3% | 33 | 29 | 22 | 3.41 | 9.16 | 9.48 |
| Total current financial liabilities | -9.1% | 779 | 857 | 711 | 716 | 513 | 569 |
| Provisions, current | 26.7% | 8.35 | 6.8 | 12 | 7.22 | 10 | 5.68 |
| Current tax liabilities | -1.2% | 8.62 | 8.71 | 9.17 | 4.3 | - | 4.88 |
| Total current liabilities | -5.4% | 1,305 | 1,380 | 1,227 | 1,166 | 974 | 978 |
| Total liabilities | 0.9% | 1,635 | 1,621 | 1,362 | 1,256 | 1,033 | 1,027 |
| Equity share capital | 0% | 15 | 15 | 15 | 15 | 15 | 15 |
| Total equity | 6.1% | 1,347 | 1,270 | 1,152 | 1,074 | 1,003 | 937 |
| Total equity and liabilities | 3.1% | 2,981 | 2,891 | 2,514 | 2,331 | 2,035 | 1,965 |
| 264% |
| Net Cashflows From Investing Activities | -5% |
| Proceeds from borrowings | 271.4% |
| Repayments of borrowings | -92.7% |
| Payments of lease liabilities | 14.3% |
| Dividends paid | 21.4% |
| Interest paid | 7.3% |
| Net Cashflows from Financing Activities | 1251.1% |
| Effect of exchange rate on cash eq. | -6.2% |
| Net change in cash and cash eq. | 109% |
| Cash equivalents beginning of period | - |
Analysis of Ion Exchange (India)'s financial performance, highlighting revenue trends, growth patterns, and key metrics through quarterly analysis.
Last Updated: Dec 31, 2025
| Description | Share | Value |
|---|---|---|
| Engineering | 56.6% | 429.7 Cr |
| Chemicals | 30.4% | 230.7 Cr |
| Consumer Products | 13.0% | 98.7 Cr |
| Total | 759.1 Cr |