Ion Exchange (India) Ltd

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

Ion Exchange (India) Ltd

₹ 338 -0.79%
09 Jun 1:43 p.m.
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

Water Management:[1]
The company is a pioneer in water, wastewater treatment & environment solutions and caters to various industries, institutions, homes & communities. Headquartered in Mumbai, it has 8 manufacturing and assembly facilities across India, 1 manufacturing facility in Portugal and 1 assembly facility each in UAE, Indonesia, Bangladesh and Saudi Arabia.

Website BSE NSE
  • Market Cap ₹ 4,960 Cr.
  • Current Price ₹ 338
  • High / Low ₹ 581 / 312
  • Stock P/E 33.4
  • Book Value ₹ 94.8
  • Dividend Yield 0.43 %
  • ROCE 13.4 %
  • ROE 11.2 %
  • Face Value ₹ 1.00
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Pros

Cons

  • Promoter holding is low: 25.5%
  • Earnings include an other income of Rs.80.4 Cr.
  • Dividend payout has been low at 11.4% of profits over last 3 years
  • Working capital days have increased from 42.4 days to 63.0 days

* 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

Utilities Utilities Other Utilities Water Supply & Management

Part of BSE Utilities Nifty Microcap 250 Nifty Total Market BSE 1000 Nifty Smallcap 500

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
619 449 484 512 735 516 589 650 785 518 678 669 814
521 397 425 443 647 456 522 576 702 462 617 613 803
Operating Profit 98 52 59 69 88 61 67 74 83 56 61 56 11
OPM % 16% 12% 12% 13% 12% 12% 11% 11% 11% 11% 9% 8% 1%
5 10 10 10 17 13 13 11 15 20 16 -0 45
Interest 2 2 2 2 1 2 2 2 3 2 2 7 10
Depreciation 7 8 8 9 9 9 10 10 11 11 11 17 18
Profit before tax 93 52 59 69 94 62 68 73 85 63 64 32 27
Tax % 21% 26% 26% 28% 24% 26% 25% 27% 24% 26% 25% 25% 28%
73 39 44 50 72 46 51 53 65 47 48 24 20
EPS in Rs 5.01 2.65 2.99 3.39 4.89 3.12 3.46 3.64 4.40 3.20 3.26 1.64 1.33
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
732 802 926 986 1,102 1,407 1,402 1,509 1,892 2,180 2,540 2,679
680 740 848 913 1,009 1,283 1,205 1,310 1,652 1,910 2,252 2,495
Operating Profit 52 62 78 73 93 124 197 199 241 270 288 184
OPM % 7% 8% 8% 7% 8% 9% 14% 13% 13% 12% 11% 7%
8 12 18 30 44 48 37 46 45 47 51 80
Interest 12 12 15 18 18 16 12 10 11 10 11 21
Depreciation 10 10 11 12 18 22 26 27 28 33 40 58
Profit before tax 38 51 71 73 101 134 196 209 246 274 288 187
Tax % 31% 33% 34% 34% 34% 26% 25% 26% 25% 26% 26% 26%
26 34 47 48 67 99 146 154 185 204 214 138
EPS in Rs 1.80 2.37 3.20 3.25 4.54 6.76 9.95 10.51 12.62 13.92 14.62 9.44
Dividend Payout % 17% 13% 11% 11% 10% 9% 10% 10% 10% 11% 10% 13%
Compounded Sales Growth
10 Years: 13%
5 Years: 14%
3 Years: 12%
TTM: 5%
Compounded Profit Growth
10 Years: 16%
5 Years: 0%
3 Years: -7%
TTM: -31%
Stock Price CAGR
10 Years: 27%
5 Years: 9%
3 Years: -8%
1 Year: -38%
Return on Equity
10 Years: 19%
5 Years: 18%
3 Years: 16%
Last Year: 11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 15 15 15 15 15 15 15 15 15 15 15 15
Reserves 206 236 256 299 360 467 612 753 872 1,060 1,256 1,375
52 62 87 139 86 100 41 38 49 59 244 410
360 387 625 656 755 855 828 861 998 1,197 1,377 1,461
Total Liabilities 632 700 982 1,108 1,215 1,437 1,496 1,667 1,934 2,331 2,891 3,260
70 80 90 136 144 177 174 177 204 263 290 637
CWIP 5 2 34 7 12 12 15 20 42 61 322 175
Investments 55 55 57 58 61 62 63 64 59 85 86 87
502 562 802 908 998 1,186 1,244 1,405 1,629 1,922 2,193 2,361
Total Assets 632 700 982 1,108 1,215 1,437 1,496 1,667 1,934 2,331 2,891 3,260

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
42 24 158 80 105 65 192 75 55 124 26 -56
-6 -16 -65 -160 -57 7 -25 -81 -23 -161 -169 -38
-35 -4 4 33 -73 -23 -70 -22 -27 -12 148 111
Net Cash Flow 1 4 98 -48 -25 49 97 -28 5 -48 5 17
Free Cash Flow 33 -1 116 51 75 34 162 26 -4 9 -291 -304
CFO/OP 98% 63% 231% 148% 148% 81% 122% 73% 53% 71% 33% 0%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 163 153 154 159 142 133 118 123 135 154 162 146
Inventory Days 34 41 59 43 54 45 42 57 55 50 54 80
Days Payable 203 199 196 188 196 181 205 188 156 172 164 176
Cash Conversion Cycle -6 -5 17 14 0 -2 -46 -9 34 32 52 50
Working Capital Days 21 27 -25 -49 -40 -31 -33 -6 13 26 38 63
ROCE % 18% 22% 26% 22% 26% 29% 33% 30% 30% 27% 23% 13%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Jun 2024 Dec 2025
Engineering Order Book (Consolidated)
INR Mn

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Number of Channel Partners
Numbers
Number of Patents
Numbers
Engineering Bid Pipeline
INR Mn
Roha Resin Plant Capacity Expansion (Target)
m3/yr
Roha Resin Plant Commissioned Capacity
m3/yr

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Shareholding Pattern

Numbers in percentages

3 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
26.94% 26.76% 26.46% 26.38% 26.20% 25.90% 25.78% 25.76% 25.71% 25.67% 25.58% 25.52%
2.44% 3.94% 5.20% 5.63% 5.43% 5.44% 5.83% 5.50% 5.27% 4.85% 4.68% 4.63%
11.66% 11.90% 11.95% 12.21% 12.83% 13.24% 13.62% 13.88% 14.09% 14.29% 14.22% 14.80%
42.78% 41.20% 40.20% 39.59% 39.36% 39.26% 38.58% 38.69% 38.77% 39.01% 39.34% 38.86%
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 48,37362,68971,50775,49787,5861,15,6641,19,0371,28,1641,25,6511,19,1391,20,4881,16,996

* 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.

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Documents

Announcements

Annual reports

Credit ratings

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