Ion Exchange (India) Ltd

ION Exchange Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Ion Exchange (India) Ltd

₹ 557 1.67%
25 Apr - close price
ionexchangeglobal.com BSE: 500214 NSE : IONEXCHANG
About

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)

Key Points

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]

Website BSE NSE
  • Market Cap ₹ 8,172 Cr.
  • Current Price ₹ 557
  • High / Low ₹ 688 / 325
  • Stock P/E 40.0
  • Book Value ₹ 60.9
  • Dividend Yield 0.22 %
  • ROCE 33.8 %
  • ROE 26.2 %
  • Face Value ₹ 1.00
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Pros

  • Company has delivered good profit growth of 37.4% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 28.5%

Cons

  • Stock is trading at 9.15 times its book value
  • Promoter holding is low: 26.4%

* 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
349 445 314 378 388 496 382 448 512 647 479 533 554
305 360 278 338 345 402 349 394 450 541 430 473 483
Operating Profit 44 85 36 40 43 95 33 53 62 106 49 60 71
OPM % 13% 19% 11% 10% 11% 19% 9% 12% 12% 16% 10% 11% 13%
6 14 7 8 6 21 15 8 13 6 9 11 9
Interest 3 3 3 2 2 2 2 2 2 2 2 4 3
Depreciation 7 7 7 7 7 7 7 7 7 7 8 8 10
Profit before tax 41 90 33 38 39 106 39 52 65 102 48 59 67
Tax % 30% 22% 31% 29% 28% 22% 30% 26% 27% 21% 30% 28% 30%
29 70 23 27 28 83 27 39 48 81 33 42 47
EPS in Rs 1.99 4.78 1.63 1.87 1.94 5.66 1.91 2.66 3.28 5.57 2.27 2.90 3.24
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
723 852 787 798 868 1,009 1,046 1,162 1,480 1,450 1,577 1,990 2,214
690 801 751 750 810 935 966 1,053 1,342 1,243 1,361 1,731 1,927
Operating Profit 33 51 36 49 58 74 80 109 138 207 216 258 286
OPM % 5% 6% 5% 6% 7% 7% 8% 9% 9% 14% 14% 13% 13%
9 5 5 4 7 12 21 34 36 31 42 42 34
Interest 13 17 15 17 17 21 22 21 19 15 13 12 11
Depreciation 9 12 11 12 13 12 13 20 24 28 28 29 33
Profit before tax 20 26 15 24 35 54 66 102 131 195 217 259 276
Tax % 43% 44% 68% 52% 51% 46% 40% 35% 28% 27% 26% 25%
12 15 5 11 17 29 40 66 94 143 162 195 204
EPS in Rs 0.71 1.04 0.31 0.67 1.05 2.07 2.74 4.45 6.38 9.81 11.10 13.41 13.98
Dividend Payout % 27% 18% 62% 43% 28% 16% 12% 10% 9% 10% 9% 0%
Compounded Sales Growth
10 Years: 9%
5 Years: 14%
3 Years: 10%
TTM: 20%
Compounded Profit Growth
10 Years: 30%
5 Years: 37%
3 Years: 28%
TTM: 4%
Stock Price CAGR
10 Years: 50%
5 Years: 70%
3 Years: 65%
1 Year: 72%
Return on Equity
10 Years: 24%
5 Years: 29%
3 Years: 29%
Last Year: 26%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 13 13 14 14 14 14 14 14 14 14 14 14 14
Reserves 124 138 138 142 156 153 186 246 349 492 641 819 879
69 86 96 86 90 111 165 110 122 62 55 59 100
433 446 407 437 456 689 699 795 896 875 914 1,047 1,087
Total Liabilities 639 682 655 679 715 967 1,064 1,164 1,382 1,443 1,625 1,939 2,081
75 101 94 85 103 99 145 161 194 190 192 215 321
CWIP 15 1 1 14 2 34 7 12 12 15 20 42 34
Investments 5 3 3 2 2 3 4 5 5 5 9 10 11
544 577 557 578 608 831 909 987 1,172 1,234 1,404 1,672 1,714
Total Assets 639 682 655 679 715 967 1,064 1,164 1,382 1,443 1,625 1,939 2,081

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
15 31 5 45 50 176 86 127 102 197 91 63
-12 -17 -1 -17 -25 -75 -167 -70 -17 -27 -93 -41
-9 -10 -7 -29 -17 -3 31 -79 -28 -75 -27 -15
Net Cash Flow -7 4 -2 -1 8 98 -50 -22 56 96 -28 6

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 178 153 162 164 153 151 153 133 124 113 118 128
Inventory Days 47 45 51 55 53 68 55 65 51 52 70 65
Days Payable 221 217 212 221 215 206 197 207 188 219 202 162
Cash Conversion Cycle 5 -19 0 -2 -9 12 11 -9 -13 -54 -14 31
Working Capital Days 15 19 37 30 27 -24 -33 -43 -30 -41 -18 13
ROCE % 17% 19% 12% 16% 20% 27% 27% 33% 35% 40% 36% 34%

Shareholding Pattern

Numbers in percentages

5 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
27.01% 27.01% 27.01% 27.01% 27.01% 27.01% 26.99% 26.95% 26.94% 26.76% 26.46% 26.38%
1.49% 1.63% 2.54% 2.66% 2.43% 0.71% 0.77% 1.95% 2.44% 3.94% 5.20% 5.63%
7.84% 8.14% 9.50% 9.68% 10.10% 10.82% 11.48% 11.58% 11.66% 11.90% 11.95% 12.21%
47.48% 47.04% 44.77% 44.47% 44.28% 45.28% 44.58% 43.34% 42.78% 41.20% 40.20% 39.59%
16.18% 16.18% 16.18% 16.18% 16.18% 16.18% 16.18% 16.18% 16.18% 16.18% 16.18% 16.18%
No. of Shareholders 26,65830,22330,51132,09032,13431,48731,17931,15548,37362,68971,50775,497

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

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