Ion Exchange (India) Ltd
Ion Exchange (India) is engaged in a wide range of solutions across the water cycle from pre-treatment to process water treatment, waste water treatment, recycle, zero liquid discharge, sewage treatment, packaged drinking water, sea water desalination etc.(Source : 201903 Annual Report Page No: 63)
- Market Cap ₹ 7,431 Cr.
- Current Price ₹ 507
- High / Low ₹ 688 / 319
- Stock P/E 36.6
- Book Value ₹ 68.4
- Dividend Yield 0.25 %
- ROCE 28.7 %
- ROE 21.7 %
- Face Value ₹ 1.00
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 31.1% CAGR over last 5 years
Cons
- Stock is trading at 7.41 times its book value
- Promoter holding is low: 26.5%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Capital Goods-Non Electrical Equipment Industry: Engineering
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
653 | 767 | 712 | 732 | 802 | 926 | 986 | 1,102 | 1,407 | 1,402 | 1,509 | 1,892 | 2,064 | |
619 | 719 | 669 | 680 | 740 | 848 | 913 | 1,009 | 1,283 | 1,205 | 1,310 | 1,656 | 1,794 | |
Operating Profit | 33 | 48 | 43 | 52 | 62 | 78 | 73 | 93 | 124 | 197 | 199 | 236 | 271 |
OPM % | 5% | 6% | 6% | 7% | 8% | 8% | 7% | 8% | 9% | 14% | 13% | 12% | 13% |
9 | 6 | 8 | 8 | 12 | 18 | 30 | 44 | 48 | 37 | 46 | 46 | 38 | |
Interest | 10 | 14 | 11 | 12 | 12 | 15 | 18 | 18 | 16 | 12 | 10 | 9 | 7 |
Depreciation | 6 | 8 | 8 | 10 | 10 | 11 | 12 | 18 | 22 | 26 | 27 | 28 | 31 |
Profit before tax | 26 | 32 | 31 | 38 | 51 | 71 | 73 | 101 | 134 | 196 | 209 | 245 | 271 |
Tax % | 32% | 34% | 35% | 31% | 33% | 34% | 34% | 34% | 26% | 25% | 26% | 25% | |
18 | 21 | 21 | 26 | 34 | 47 | 48 | 67 | 99 | 146 | 154 | 185 | 203 | |
EPS in Rs | 1.29 | 1.58 | 1.41 | 1.80 | 2.37 | 3.20 | 3.25 | 4.54 | 6.76 | 9.95 | 10.51 | 12.59 | 13.85 |
Dividend Payout % | 15% | 12% | 14% | 17% | 13% | 11% | 11% | 10% | 9% | 10% | 10% | 10% |
Compounded Sales Growth | |
---|---|
10 Years: | 9% |
5 Years: | 14% |
3 Years: | 10% |
TTM: | 19% |
Compounded Profit Growth | |
---|---|
10 Years: | 24% |
5 Years: | 31% |
3 Years: | 23% |
TTM: | 14% |
Stock Price CAGR | |
---|---|
10 Years: | 49% |
5 Years: | 66% |
3 Years: | 57% |
1 Year: | 55% |
Return on Equity | |
---|---|
10 Years: | 20% |
5 Years: | 23% |
3 Years: | 23% |
Last Year: | 22% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 14 | 13 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 |
Reserves | 149 | 171 | 186 | 206 | 236 | 256 | 299 | 360 | 467 | 612 | 753 | 923 | 988 |
46 | 62 | 73 | 52 | 62 | 87 | 139 | 86 | 100 | 41 | 38 | 32 | 36 | |
373 | 329 | 328 | 360 | 387 | 625 | 656 | 755 | 855 | 828 | 861 | 995 | 997 | |
Total Liabilities | 581 | 575 | 602 | 632 | 700 | 982 | 1,108 | 1,215 | 1,437 | 1,496 | 1,667 | 1,965 | 2,035 |
58 | 83 | 77 | 70 | 80 | 90 | 136 | 144 | 177 | 174 | 177 | 200 | 221 | |
CWIP | 13 | 1 | 1 | 5 | 2 | 34 | 7 | 12 | 12 | 15 | 20 | 42 | 34 |
Investments | 35 | 52 | 52 | 55 | 55 | 57 | 58 | 61 | 62 | 63 | 64 | 68 | 92 |
475 | 438 | 472 | 502 | 562 | 802 | 908 | 998 | 1,186 | 1,244 | 1,405 | 1,654 | 1,687 | |
Total Assets | 581 | 575 | 602 | 632 | 700 | 982 | 1,108 | 1,215 | 1,437 | 1,496 | 1,667 | 1,965 | 2,035 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
13 | 23 | -2 | 42 | 24 | 158 | 80 | 105 | 65 | 192 | 75 | 43 | |
-16 | -13 | 2 | -6 | -16 | -65 | -160 | -57 | 7 | -25 | -81 | -14 | |
-5 | -8 | -2 | -35 | -4 | 4 | 33 | -73 | -23 | -70 | -22 | -24 | |
Net Cash Flow | -8 | 2 | -1 | 1 | 4 | 98 | -48 | -25 | 49 | 97 | -28 | 5 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 186 | 127 | 149 | 163 | 153 | 154 | 159 | 142 | 133 | 118 | 123 | 135 |
Inventory Days | 32 | 29 | 30 | 34 | 41 | 59 | 43 | 54 | 45 | 42 | 57 | 55 |
Days Payable | 215 | 175 | 192 | 203 | 199 | 196 | 188 | 196 | 181 | 205 | 188 | 154 |
Cash Conversion Cycle | 3 | -19 | -12 | -6 | -5 | 17 | 14 | 0 | -2 | -46 | -9 | 35 |
Working Capital Days | 20 | 13 | 37 | 39 | 45 | -6 | -16 | -25 | -16 | -25 | 0 | 24 |
ROCE % | 18% | 20% | 16% | 18% | 22% | 26% | 22% | 26% | 29% | 33% | 30% | 29% |
Documents
Announcements
- Closure of Trading Window 10m
- Intimation Under Regulation 30 22 Mar
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Announcement under Regulation 30 (LODR)-Change in Management
21 Mar - Re-appointment of Mr. Dinesh Sharma and Mr. Aankur Patni as Executive Directors of the Company.
- Certified Copy Of NCLT Order. 13 Mar
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 12 Mar
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Financial Year 2009
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Concalls
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Leader in Water Management Industry
The company completed ~100,000+ Installations worldwide. IEL India started its journey as a flagship company for the Ion Exchange Group London but the Foreign holding has been reduced in stages and is now owned by the Indian promoters since 1985. [1] It is the largest one stop solution’s provider in Asia.The company has ~50 patents and
100+ products commercialized as of FY23.[2]