Ion Exchange (India) Ltd

BSE: IONEXCHANG500214ISIN INE570A01022

Utilities
Water Supply & Management
BSE 1000

Share price

₹313.85-24.85 (-7.34%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹485.80
52W low: ₹293.05
Off 52W high: -35.40%
1M return: -21.89%
3M return: -24.59%
6M return: -24.65%
1Y return: -20.89%
20D avg volume: 18,805
50 DMA: ₹389.57
200 DMA: ₹383.25

Key ratios Consolidated

Market cap: ₹4,603 Cr
Current price: ₹313.85
52W high / low: ₹485.80 / ₹293.05
Face value: ₹1.00
P/E: -132.08
P/B: —
EPS (TTM): ₹-2.38
Book value / share: —
ROE: —
ROCE: 12.30%
Operating margin: —
Net margin: —
Debt / equity: 0.34
Net debt: ₹269.85 Cr
Interest cover: 9.05
Dividend yield: 0.40%
Dividend / share (TTM): ₹1.25
Payout: —
Cash conversion cycle: 77.2 days

Financials

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	674.73	700.46	863.27	734.44	733.94	583.19	834.56	690.51	644.47	567.57	781.81	553.85
	7.80	5.95	43.05	11.52	14.26	17.74	14.84	8.35	14.35	11.07	16.85	8.81
	682.53	706.41	906.32	745.96	748.20	600.93	849.40	698.86	658.82	578.64	798.66	562.66
	790.91	699.42	873.79	701.33	680.70	535.47	764.16	629.67	590.68	516.73	703.26	496.11
	486.64	413.47	585.73	435.67	452.94	318.41	523.25	416.96	378.09	317.24	481.63	306.93
	41.75	40.42	42.56	38.96	35.23	29.49	29.51	29.33	25.21	23.76	25.14	22.93
	113.79	108.62	115.25	104.59	98.59	96.13	88.90	84.27	81.50	86.86	80.82	71.84
	9.42	8.95	10.79	7.57	3.08	2.56	3.61	3.30	3.62	2.93	3.23	3.22
	22.00	21.75	19.60	18.57	12.17	12.26	11.83	11.33	10.89	10.44	10.42	9.62
	121.36	113.22	139.04	109.08	107.49	80.94	118.58	94.21	85.91	77.65	—	80.08
	-108.38	6.99	32.53	44.63	67.50	65.46	85.24	69.19	68.14	61.91	95.40	66.55
	0.00	0.00	0.08	-16.97	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	-108.38	6.99	32.61	27.66	67.50	65.46	85.24	69.19	68.14	61.91	95.40	66.55
	-24.71	4.34	8.19	8.12	17.94	17.48	21.90	20.16	17.68	17.49	22.74	19.94
	-82.76	3.06	24.29	20.56	49.92	48.44	63.24	49.59	50.64	44.78	72.45	47.24
	-6.84	0.35	2.04	1.71	4.18	4.11	5.34	4.10	4.30	3.79	6.14	4.00
Key metrics
	-76.96	37.69	63.00	53.80	82.75	80.28	100.68	83.82	82.65	75.28	109.05	79.39
	-11.40%	5.40%	7.30%	7.30%	11.30%	13.80%	12.10%	12.10%	12.80%	13.30%	13.90%	14.30%
	-12.30%	0.40%	2.80%	2.80%	6.80%	8.30%	7.60%	7.20%	7.90%	7.90%	9.30%	8.50%
	-6.10%	—	2.50%	—	4.20%	—	5.90%	—	—	—	—	—
	-8.10%	20.10%	3.40%	6.40%	13.90%	2.80%	6.70%	24.70%	—	—	—	—
	-265.80%	-93.70%	-61.60%	-58.50%	-1.40%	8.20%	-12.70%	5.00%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	2,973	2,915	2,737	2,348	1,990	1,577
	68.32	86.57	48.61	43.88	41.07	41.70
	3,041	3,001	2,786	2,392	2,031	1,619
	3,065	2,791	2,501	2,124	1,773	1,402
	1,922	1,793	1,636	1,375	1,182	927.92
	163.69	146.24	107.81	90.62	70.54	43.19
	442.25	414.56	341.53	296.55	236.27	199.04
	36.73	24.00	13.46	12.06	9.20	9.95
	81.92	62.60	44.49	36.41	29.09	28.04
	482.70	436.55	376.35	—	255.78	218.89
	-24.23	210.12	284.48	267.36	257.77	216.91
	-16.89	-16.89	0.00	0.00	0.00	0.00
	-41.12	193.23	284.48	267.36	257.77	216.91
	-4.06	51.73	77.23	73.54	63.74	55.64
	-34.85	143.21	208.25	195.36	194.96	161.69
	-2.74	12.03	17.53	16.53	165.95	137.30
Key metrics
	77.53	279.83	342.43	315.83	296.06	254.90
	2.61%	9.60%	12.50%	13.50%	14.90%	16.20%
	-1.17%	4.90%	7.60%	8.30%	9.80%	10.30%
	—	12.30%	19.60%	—	—	—
	4.60%	6.50%	16.60%	18.00%	26.20%	—
	-116.50%	-31.20%	6.60%	0.20%	20.60%	—
	—	-282.61	-288.34	—	—	—
	—	-0.20	0.15	—	—	—
	—	0.34	0.25	—	—	—
	—	269.85	153.73	—	—	—
	—	77.2	87.2	—	—	—
Balance sheet
	—	3,380	2,987	—	—	—
	—	2,357	2,180	—	—	—
	—	184.56	149.29	—	—	—
	—	1,075	1,134	—	—	—
	—	441.39	298.99	—	—	—
	—	504.68	262.04	—	—	—
	—	729.69	367.37	—	—	—
	—	899.67	778.98	—	—	—
	—	1,613	1,468	—	—	—
	—	454.41	303.02	—	—	—
	—	96.83	50.96	—	—	—
	—	357.58	252.06	—	—	—
	—	1,340	1,209	—	—	—
Cash flow
	—	-28.47	32.05	—	—	—
	—	-44.46	-164.57	—	—	—
	—	100.11	128.20	—	—	—
	—	254.14	320.39	—	—	—

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	615.73	635.56	813.91	668.93	678.24	517.83	785.11	649.93	588.93	516.09	734.65	512.03
	10.28	13.24	44.70	14.25	16.48	19.52	15.15	10.76	12.61	12.63	17.03	10.69
	626.01	648.80	858.61	683.18	694.72	537.35	800.26	660.69	601.54	528.72	751.68	522.72
	722.20	633.43	831.28	636.51	630.60	474.31	715.02	587.76	533.89	466.52	657.34	454.47
	450.39	373.32	572.17	400.04	433.76	294.37	499.50	391.80	352.48	298.05	468.09	293.52
	41.75	40.42	42.56	38.96	35.23	29.49	29.51	29.33	25.21	23.76	25.14	22.93
	91.00	88.09	93.79	83.10	77.86	76.80	71.83	67.30	65.19	70.46	66.33	57.00
	8.57	8.21	10.07	6.64	2.17	1.66	2.53	2.05	2.14	1.66	1.24	1.55
	20.57	20.34	18.38	17.21	10.96	11.03	10.66	10.21	9.77	9.35	9.04	8.47
	112.60	103.58	130.95	103.83	100.38	73.35	111.16	86.98	77.40	—	—	73.73
	-96.19	15.37	27.33	46.67	64.12	63.04	85.24	72.93	67.65	62.20	94.34	68.25
	0.00	0.00	0.00	-14.54	0.00	0.00	0.00	—	—	—	—	—
	-96.19	15.37	27.33	32.13	64.12	63.04	85.24	72.93	67.65	62.20	94.34	68.25
	-24.84	3.97	7.76	8.07	16.25	16.16	20.66	19.60	16.91	16.37	22.59	19.06
	-71.35	11.40	19.57	24.06	47.87	46.88	64.58	53.33	50.74	45.83	71.75	49.19
	-5.80	0.93	1.59	1.96	3.89	3.81	5.25	4.34	4.13	3.73	5.84	4.00
Key metrics
	-67.05	43.92	55.78	55.98	77.25	75.73	98.43	85.19	79.56	73.21	104.62	78.27
	-10.90%	6.90%	6.90%	8.40%	11.40%	14.60%	12.50%	13.10%	13.50%	14.20%	14.20%	15.30%
	-11.60%	1.80%	2.40%	3.60%	7.10%	9.10%	8.20%	8.20%	8.60%	8.90%	9.80%	9.60%
	-5.40%	—	2.10%	—	4.00%	—	5.80%	—	—	—	—	—
	-9.20%	22.70%	3.70%	2.90%	15.20%	0.30%	6.90%	26.90%	—	—	—	—
	-249.00%	-75.70%	-69.70%	-54.90%	-5.70%	2.30%	-10.00%	8.40%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	2,734	2,679	2,540	2,180	1,892	1,509
	82.47	94.95	51.15	47.04	46.80	46.13
	2,817	2,774	2,591	2,227	1,939	1,555
	2,823	2,573	2,303	1,953	1,694	1,347
	1,796	1,700	1,542	1,301	1,164	912.70
	163.69	146.24	107.81	90.62	70.54	43.19
	355.98	331.55	274.78	241.87	195.91	163.69
	33.49	20.54	8.38	6.73	6.36	7.57
	76.50	57.58	39.99	32.95	27.97	26.78
	450.96	408.51	345.62	—	235.50	209.04
	-6.82	201.16	288.02	274.35	245.37	208.75
	-14.54	-14.54	0.00	—	—	—
	-21.36	186.62	288.02	274.35	245.37	208.75
	-5.04	48.24	73.54	70.25	60.66	54.53
	-16.32	138.38	214.48	204.10	184.71	154.22
	-1.32	11.26	17.45	16.60	150.26	125.44
Key metrics
	88.63	264.74	336.39	314.03	279.70	243.10
	3.24%	9.90%	13.20%	14.40%	14.80%	16.10%
	-0.60%	5.20%	8.40%	9.40%	9.80%	10.20%
	—	11.80%	19.60%	—	—	—
	3.92%	5.50%	16.50%	15.20%	25.40%	—
	-107.67%	-35.50%	5.10%	10.50%	19.80%	—
	—	-307.26	-292.51	—	—	—
	—	-0.40	0.12	—	—	—
	—	0.28	0.18	—	—	—
	—	243.10	111.09	—	—	—
	—	83.2	90.7	—	—	—
Balance sheet
	—	3,260	2,891	—	—	—
	—	2,241	2,068	—	—	—
	—	141.14	115.81	—	—	—
	—	1,073	1,125	—	—	—
	—	385.56	241.04	—	—	—
	—	496.23	253.59	—	—	—
	—	627.83	278.77	—	—	—
	—	846.79	734.64	—	—	—
	—	1,508	1,380	—	—	—
	—	384.24	226.90	—	—	—
	—	76.04	28.95	—	—	—
	—	308.20	197.95	—	—	—
	—	1,390	1,270	—	—	—
Cash flow
	—	-55.73	26.18	—	—	—
	—	-38.23	-169.00	—	—	—
	—	111.20	148.28	—	—	—
	—	251.53	318.69	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +12.29%
Sales CAGR 5Y: —
Profit CAGR 3Y: -9.18%
Profit CAGR 5Y: —
Sales YoY (TTM): +3.92%
Profit YoY (TTM): -107.67%

Consolidated

Sales CAGR 3Y: +13.57%
Sales CAGR 5Y: —
Profit CAGR 3Y: -9.77%
Profit CAGR 5Y: —
Sales YoY (TTM): +4.60%
Profit YoY (TTM): -116.50%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 25.07%

Quarter	September 2026	June 2026
Promoter %	25.07%	25.43%

Holder	Type	Holding	Previous	Change
Rajesh Sharma	Promoter Group	5.65%	5.65%	0.00%
Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund	Public	4.88%	4.95%	-0.07%
Mahabir Prasad Patni	Promoter Group	4.68%	4.68%	0.00%
Dinesh Sharma	Promoter Group	3.50%	3.90%	-0.40%
HDFC Small Cap Fund	Public	3.28%	3.28%	0.00%
Radha Menon	Public	2.71%	2.71%	0.00%
Girish P Lad	Public	2.67%	2.67%	0.00%
Amey Nargolkar	Public	2.65%	2.65%	0.00%
Franklin India Small Cap Fund	Public	2.58%	2.58%	0.00%
Bimal Jain	Promoter Group	2.48%	2.48%	0.00%
Aankur Patni	Promoter Group	2.01%	2.01%	0.00%
Abakkus Emerging Opportunities Fund-1	Public	1.85%	1.85%	0.00%
Aqua Investments (India) Limited	Promoter Group	1.73%	1.73%	0.00%
Thathamangalam Subramanian Viswanathan	Public	1.33%	1.33%	0.00%
Judith Judy M Pereira	Public	1.33%	1.33%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
VA Tech Wabag Limited	11,606	1,856.50	29.43	17.90%	+20.45% TTM	+28.91% TTM	+32.59%
Ion Exchange (India) Ltd	4,603	313.85	-132.08	12.30%	+4.60% TTM	-116.50% TTM	-20.89%
ENVIRO INFRA ENGINEERS LIMITED	3,147	179.30	16.47	18.90%	+15.49% TTM	+0.77% TTM	-28.71%
Technocraft Ventures Limited	2,138	539.70	—	—	—	—	—
JITF INFRALOGISTICS LIMITED	702	273.25	-96.09	13.70%	+24.34% TTM	-106.25% TTM	-10.70%
Denta Water and Infra Solutions Limited	641	239.95	11.97	18.00%	—	—	-39.38%

Filings & corporate actions

Recent announcements

ION Exchange (India) Limited has informed the Exchange about the change in designation of Mr. Rajesh Sharma from Executive Chairman to Non- Executive Non-Independent Chairman of the Company ....3 Nov 2026 · Company Update / Change in Management
ION Exchange (India) Limited has submitted to the Exchange, the Unaudited Financial Results (Standalone & Consolidated) for the second quarter and half year ended September 30, 2026.3 Nov 2026 · Result / Financial Results
ION Exchange (India) Limited has submitted to the Exchange, the unaudited financial results (Standalone & Consolidated) for the second quarter and half year ended September 30, 2026.3 Nov 2026 · Board Meeting / Outcome of Board Meeting
ION Exchange (India) Limited has informed the Exchange about the revised Intimation of Earnings Conference Call.29 Oct 2026 · Company Update / Analyst / Investor Meet
ION Exchange (India) Limited has informed the Exchange about the Schedule of Earnings Conference Call.28 Oct 2026 · Company Update / Analyst / Investor Meet
Ion Exchange India Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 03/11/2026 ,inter alia, to consider and approve Unaudited Financial Results ....28 Oct 2026 · Board Meeting / Board Meeting
ION Exchange (India) Limited has informed the Exchange regarding submission of Trust Deed of 'Ion Exchange ESOP Trust'9 Oct 2026 · Company Update / General
ION Exchange (India) Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 for the second quarter and half year ended September 30, 2026.8 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
ION Exchange (India) Limited has informed the Exchange about Copy of Newspaper Publication6 Oct 2026 · Company Update / Newspaper Publication
ION Exchange (India) Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 201528 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Voting Results and Scrutinizers Report for the 62nd Annual General Meeting held on September 11, 202611 Sep 2026 · AGM/EGM / AGM
Proceedings of 62nd Annual General Meeting held on September 11, 202611 Sep 2026 · AGM/EGM / AGM
ION Exchange (India) Limited has informed the Exchange about the copies of Newspaper Publication in respect of Notice for the 62nd Annual General Meeting of the Company.19 Aug 2026 · Company Update / Newspaper Publication
Please find enclosed a letter being sent to those shareholders who have not registered their email address(es) with the Company, its Registrar and Share Transfer Agent, or their respective ....18 Aug 2026 · Company Update / General
Please find enclosed herewith the Annual Report for the financial year 2025-26.18 Aug 2026 · Others / Reg. 34 (1) Annual Report
Please find enclosed herewith the BRSR for the financial year 2025-26.18 Aug 2026 · Others / Business Responsibility and Sustainability Reporting (BRSR)
Please find enclosed herewith the Notice of 62nd Annual General Meeting to be held on Friday, September 11, 2026.18 Aug 2026 · AGM/EGM / AGM
ION Exchange (India) Limited has informed the Exchange about Transcript of the Conference Call held on Monday, August 10, 202617 Aug 2026 · Company Update / Earnings Call Transcript
ION Exchange (India) Limited has informed the Exchange about the copies of Newspaper Publication in respect of the information regarding the 62nd Annual General Meeting of the Company.14 Aug 2026 · Company Update / Newspaper Publication
ION Exchange (India) Limited has informed the Exchange about Link of Recording of Earnings Conference Call for Q1 - F.Y. 2026-2710 Aug 2026 · Company Update / Analyst / Investor Meet
Please find attached revised Investor Presentation.10 Aug 2026 · Company Update / Investor Presentation
Please find enclosed the Earnings Presentation for the first quarter ended June 30, 202610 Aug 2026 · Company Update / General
Please find attached the Investor Presentation.10 Aug 2026 · Company Update / Investor Presentation
Please find attached the Investor Presentation.10 Aug 2026 · Company Update / Investor Presentation
ION Exchange (India) Limited has informed the Exchange about Copy of Newspaper Publication7 Aug 2026 · Company Update / Newspaper Publication
ION Exchange (India) Limited has informed the Exchange about the Schedule of Special Call on Reclassification of Reporting Segments and Earnings Conference Call.5 Aug 2026 · Company Update / Analyst / Investor Meet
ION Exchange (India) Limited has submitted to the Exchange, the Unaudited Financial Results (Standalone & Consolidated) for the first quarter ended June 30, 2026.5 Aug 2026 · Result / Financial Results
ION Exchange (India) Limited has submitted to the Exchange, the unaudited financial results (Standalone & Consolidated) for the first quarter ended June 30, 2026.5 Aug 2026 · Board Meeting / Outcome of Board Meeting
Ion Exchange India Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 05/08/2026 ,inter alia, to consider and approve Unaudited Financial Results ....29 Jul 2026 · Board Meeting / Board Meeting
ION Exchange (India) Limited has informed the Exchange about the copies of Newspaper Publication for transfer of Equity Shares and Unpaid Dividend.25 Jul 2026 · Company Update / Newspaper Publication
ION Exchange (India) Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 for the first quarter ended June 30, 2026.14 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
ION Exchange (India) Limited has informed the Exchange that the Company has been awarded an international contract by Hyundai Engineering & Construction Co. Ltd.10 Jul 2026 · Company Update / Award of Order / Receipt of Order
ION Exchange (India) Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 for the unaudited financial ....26 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
ION Exchange (India) Limited has informed the Exchange about the Transcript of the Earnings Conference Call held for Q4 FY 2025-265 Jun 2026 · Company Update / Earnings Call Transcript
ION Exchange (India) Limited has informed the Exchange about Copy of Newspaper Publication4 Jun 2026 · Company Update / Newspaper Publication
ION Exchange (India) Limited has informed the Exchange about Link of Recording of Earnings Conference Call for Q4 - F.Y. 2025-2629 May 2026 · Company Update / Analyst / Investor Meet
ION Exchange (India) Limited has informed the Exchange about Earnings Presentation for the fourth quarter and year ended March 31, 202629 May 2026 · Company Update / General
Ion Exchange (India) Limited has informed the Exchanges about Annual Secretarial Compliance Report for FY 2025-2628 May 2026 · Company Update / Reg.24(A)-Annual Secretarial Compliance
ION Exchange (India) Limited has informed the Exchange about Copy of Newspaper Publication28 May 2026 · Company Update / Newspaper Publication
Ion Exchange (India) Limited has informed the Exchanges about the change in Cost Auditors of the Company.26 May 2026 · Company Update / Change in Management

Corporate actions

Purpose	Ex date	Record date	Payment date
Dividend - Rs. - 1.2500	31 Aug 2026	31 Aug 2026	—
Dividend - Rs. - 1.5000	2 Sep 2025	2 Sep 2025	—
Final Dividend - Rs. - 1.5000	3 Sep 2024	—	—

Board meetings

3 Nov 2026 Board Meeting - Financial Results
5 Aug 2026 Board Meeting - Financial Results