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 ₹ 2,578 Cr.
- Current Price ₹ 1,758
- High / Low ₹ 2,494 / 1,486
- Stock P/E 15.6
- Book Value ₹ 466
- Dividend Yield 0.57 %
- ROCE 34.4 %
- ROE 26.5 %
- Face Value ₹ 10.0


Pros
- Company is almost debt free.
- Company has delivered good profit growth of 41.1% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 28.4%
Cons
- The company has delivered a poor sales growth of 9.34% over past five years.
- Promoter holding is low: 27.0%
- Promoter holding has decreased over last 3 years: -17.0%
* 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
608 | 723 | 852 | 787 | 798 | 868 | 1,009 | 1,046 | 1,162 | 1,480 | 1,450 | 1,577 | 1,645 | |
586 | 690 | 801 | 751 | 750 | 810 | 935 | 966 | 1,053 | 1,342 | 1,243 | 1,361 | 1,435 | |
Operating Profit | 21 | 33 | 51 | 36 | 49 | 58 | 74 | 80 | 109 | 138 | 207 | 216 | 210 |
OPM % | 4% | 5% | 6% | 5% | 6% | 7% | 7% | 8% | 9% | 9% | 14% | 14% | 13% |
12 | 9 | 5 | 5 | 4 | 7 | 12 | 21 | 34 | 36 | 31 | 42 | 50 | |
Interest | 10 | 13 | 17 | 15 | 17 | 17 | 21 | 22 | 21 | 19 | 15 | 13 | 9 |
Depreciation | 7 | 9 | 12 | 11 | 12 | 13 | 12 | 13 | 20 | 24 | 28 | 28 | 28 |
Profit before tax | 16 | 20 | 26 | 15 | 24 | 35 | 54 | 66 | 102 | 131 | 195 | 217 | 223 |
Tax % | 46% | 43% | 44% | 68% | 52% | 51% | 46% | 40% | 35% | 28% | 27% | 26% | |
Net Profit | 8 | 10 | 14 | 5 | 10 | 15 | 30 | 40 | 65 | 94 | 144 | 163 | 167 |
EPS in Rs | 6.23 | 7.11 | 10.41 | 3.13 | 6.72 | 10.52 | 20.73 | 27.40 | 44.50 | 63.83 | 98.13 | 110.98 | 113.81 |
Dividend Payout % | 31% | 27% | 18% | 62% | 43% | 28% | 16% | 12% | 10% | 9% | 10% | 9% |
Compounded Sales Growth | |
---|---|
10 Years: | 8% |
5 Years: | 9% |
3 Years: | 11% |
TTM: | 10% |
Compounded Profit Growth | |
---|---|
10 Years: | 33% |
5 Years: | 41% |
3 Years: | 35% |
TTM: | 11% |
Stock Price CAGR | |
---|---|
10 Years: | 29% |
5 Years: | 26% |
3 Years: | 39% |
1 Year: | -20% |
Return on Equity | |
---|---|
10 Years: | 22% |
5 Years: | 27% |
3 Years: | 28% |
Last Year: | 27% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
13 | 13 | 13 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | |
Reserves | 119 | 124 | 137 | 138 | 142 | 156 | 182 | 216 | 276 | 377 | 520 | 670 |
47 | 69 | 86 | 96 | 86 | 90 | 111 | 165 | 110 | 122 | 62 | 55 | |
337 | 433 | 447 | 407 | 437 | 456 | 659 | 669 | 765 | 868 | 847 | 886 | |
Total Liabilities | 516 | 639 | 682 | 655 | 679 | 715 | 967 | 1,064 | 1,164 | 1,382 | 1,443 | 1,625 |
61 | 75 | 101 | 94 | 85 | 103 | 99 | 145 | 161 | 194 | 190 | 192 | |
CWIP | 9 | 15 | 1 | 1 | 14 | 2 | 34 | 7 | 12 | 12 | 15 | 20 |
Investments | 5 | 5 | 3 | 3 | 2 | 2 | 3 | 4 | 5 | 5 | 5 | 9 |
442 | 544 | 577 | 557 | 578 | 608 | 831 | 909 | 987 | 1,172 | 1,234 | 1,404 | |
Total Assets | 516 | 639 | 682 | 655 | 679 | 715 | 967 | 1,064 | 1,164 | 1,382 | 1,443 | 1,625 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
34 | 15 | 31 | 5 | 45 | 50 | 176 | 86 | 127 | 102 | 197 | 91 | |
-10 | -12 | -17 | -1 | -17 | -25 | -75 | -167 | -70 | -17 | -27 | -93 | |
-17 | -9 | -10 | -7 | -29 | -17 | -3 | 31 | -79 | -28 | -75 | -27 | |
Net Cash Flow | 7 | -7 | 4 | -2 | -1 | 8 | 98 | -50 | -22 | 56 | 96 | -28 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 150 | 178 | 153 | 162 | 164 | 153 | 151 | 153 | 133 | 124 | 113 | 118 |
Inventory Days | 48 | 47 | 45 | 51 | 55 | 53 | 68 | 55 | 65 | 51 | 52 | 70 |
Days Payable | 207 | 221 | 217 | 212 | 221 | 215 | 206 | 197 | 207 | 188 | 219 | 202 |
Cash Conversion Cycle | -9 | 5 | -19 | 0 | -2 | -9 | 12 | 11 | -9 | -13 | -54 | -14 |
Working Capital Days | 8 | 15 | 19 | 37 | 30 | 27 | -24 | -33 | -43 | -30 | -41 | -18 |
ROCE % | 13% | 18% | 20% | 12% | 17% | 21% | 26% | 25% | 31% | 33% | 38% | 34% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
11 Aug - Letter dated July 21, 2022, we enclose herewith communication relating to conference call as per Regulation 30(6) Para A of Part A of Schedule III …
- Reg. 34 (1) Annual Report. 11 Aug
- Notice Of The 58Th Annual General Meeting To Be Held On 8Th September, 2022. 11 Aug
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Announcement under Regulation 30 (LODR)-Newspaper Publication
11 Aug - D with Regulation 47(1)(d) of SEBI (LODR) Regulations, 2015, we enclose herewith newspaper advertisement published on 10th August, 2022, in Free press journal (English) and …
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 11 Aug
Annual reports
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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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Concalls
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Leader in Water Management Industry [1]
With 56 years of legacy the company has established a long standing presence in the Industry with more than 100,000 Installations worldwide [2]. 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 now is owned by the Indian promoters since 1985.