About
Ion Exchange (India) Limited, together with its subsidiaries, provides water and environmental management solutions in India and internationally. It operates through Engineering, Chemicals, and Consumer Products segments. The company offers raw water, process, post, and drinking water treatment; waste water, water recycling, and zero liquid discharge systems; sludge dewatering and waste to energy systems; ion exchange process, membrane process, ion exchange membrane process, and 3D modelling systems; and resin, incudes water purification equipment; and catalyst grade, adsorbent grade, chemical and special process, pharma grade, nuclear grade, hydrometallurgy, food and beverage, bio diesel, and sugar refining resins. It also provides membranes, such ultra-filtration, low pressure and seawater RO, fouling resistant, and brackish resistant membranes; and specialty chemical treatment programmes, including cooling and boiler water treatment products, fireside treatment products, coagulants, flocculants, membrane cleaning chemicals, and water testing kits. In addition, the company offers INDION online controllers and transmitters, water quality monitoring instruments, water quality measuring indicators, remote monitoring systems, and online effluent monitoring systems; and consultancy, operator training, design engineering, project financing, and operations and maintenance services, as well as installation, commissioning, rehabilitation, and plant automation services. It serves automotive, cement, chemicals, electronics, food and beverage, fertilizers, paper and pulp, pharma, power, refinery and petrochemicals, steel and metallurgy, mining and minerals, sugar, and textiles industries; educational, hospitality, hospital, laboratory, railway, and defense institutions; communities and municipalities; and residential and commercial establishments industries. The company was incorporated in 1964 and is based in Mumbai, India.
Key Metrics
as of Sep 2026Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 700.46 | 863.27 | 734.44 | 733.94 | 583.19 | 834.56 | 690.51 | 644.47 | 567.57 | 781.81 | 553.85 | 532.97 | 479.22 |
| Expenses | 668.72 | 843.53 | 675.19 | 665.45 | 520.65 | 748.82 | 615.04 | 576.17 | 503.36 | 689.82 | 483.27 | 472.58 | 430.44 |
| Operating Profit | 31.74 | 19.74 | 59.25 | 68.49 | 62.54 | 85.74 | 75.47 | 68.30 | 64.21 | 91.99 | 70.58 | 60.39 | 48.78 |
| OPM % | 4.53 | 2.29 | 8.07 | 9.33 | 10.72 | 10.27 | 10.93 | 10.60 | 11.31 | 11.77 | 12.74 | 11.33 | 10.18 |
| Other Income | 6.36 | 43.13 | -4.43 | 14.62 | 18.20 | 14.84 | 8.91 | 14.53 | 11.43 | 16.85 | 9.44 | 10.65 | 8.69 |
| Depreciation | 21.75 | 19.60 | 18.57 | 12.17 | 12.26 | 11.83 | 11.33 | 10.89 | 10.44 | 10.42 | 9.62 | 8.50 | 7.87 |
| Interest | 8.95 | 10.79 | 7.57 | 3.08 | 2.56 | 3.61 | 3.30 | 3.62 | 2.93 | 3.23 | 3.22 | 3.56 | 2.05 |
| Profit before tax | 7.40 | 32.48 | 28.68 | 67.86 | 65.92 | 85.14 | 69.75 | 68.32 | 62.27 | 95.19 | 67.18 | 58.98 | 47.55 |
| Tax % | 58.65 | 25.22 | 28.31 | 26.44 | 26.52 | 25.72 | 28.90 | 25.88 | 28.09 | 23.89 | 29.68 | 28.20 | 29.93 |
| Net Profit | 3.06 | 24.29 | 20.56 | 49.92 | 48.44 | 63.24 | 49.59 | 50.64 | 44.78 | 72.45 | 47.24 | 42.35 | 33.32 |
| EPS in Rs | 0.28 | 1.65 | 1.38 | 3.38 | 3.32 | 4.32 | 3.31 | 3.47 | 3.07 | 4.96 | 3.24 | 2.90 | 2.27 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,915.00 | 2,737.00 | 2,348.00 | 1,990.00 | 1,577.00 | 1,450.00 | 1,480.00 | 1,162.00 | 1,046.00 | 1,009.00 | 868.00 | 798.00 |
| Expenses | 2,701.00 | 2,440.00 | 2,072.00 | 1,731.00 | 1,361.00 | 1,243.00 | 1,342.00 | 1,053.00 | 966.00 | 935.00 | 810.00 | 750.00 |
| Operating Profit | 214.00 | 297.00 | 275.00 | 258.00 | 216.00 | 207.00 | 138.00 | 109.00 | 80.00 | 74.00 | 58.00 | 49.00 |
| OPM % | 7.00 | 11.00 | 12.00 | 13.00 | 14.00 | 14.00 | 9.00 | 9.00 | 8.00 | 7.00 | 7.00 | 6.00 |
| Other Income | 71.00 | 49.00 | 45.00 | 42.00 | 42.00 | 31.00 | 36.00 | 34.00 | 21.00 | 12.00 | 7.00 | 4.00 |
| Interest | 28.00 | 17.00 | 15.00 | 12.00 | 13.00 | 15.00 | 19.00 | 21.00 | 22.00 | 21.00 | 17.00 | 17.00 |
| Depreciation | 63.00 | 44.00 | 36.00 | 29.00 | 28.00 | 28.00 | 24.00 | 20.00 | 13.00 | 12.00 | 13.00 | 12.00 |
| Profit before tax | 195.00 | 285.00 | 269.00 | 259.00 | 217.00 | 195.00 | 131.00 | 102.00 | 66.00 | 54.00 | 35.00 | 24.00 |
| Tax % | 27.00 | 27.00 | 27.00 | 25.00 | 26.00 | 27.00 | 28.00 | 35.00 | 40.00 | 46.00 | 51.00 | 52.00 |
| Net Profit | 143.00 | 208.00 | 195.00 | 195.00 | 162.00 | 143.00 | 94.00 | 66.00 | 40.00 | 29.00 | 17.00 | 11.00 |
| EPS in Rs | 9.73 | 14.17 | 13.37 | 13.41 | 11.10 | 9.81 | 6.38 | 4.45 | 2.74 | 2.07 | 1.05 | 0.67 |
| Dividend Payout % | 12.00 | 10.00 | 11.00 | 9.00 | 9.00 | 10.00 | 9.00 | 10.00 | 12.00 | 16.00 | 28.00 | 43.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 14.00 | 14.00 | 14.00 | 14.00 | 14.00 | 14.00 | 14.00 | 14.00 | 14.00 | 14.00 | 14.00 | 14.00 |
| Reserves | 1,325.00 | 1,194.00 | 1,004.00 | 819.00 | 641.00 | 492.00 | 349.00 | 246.00 | 186.00 | 153.00 | 156.00 | 142.00 |
| Borrowings | 482.00 | 323.00 | 152.00 | 59.00 | 55.00 | 62.00 | 122.00 | 110.00 | 165.00 | 111.00 | 90.00 | 86.00 |
| Other Liabilities | 1,550.00 | 1,449.00 | 1,271.00 | 1,047.00 | 914.00 | 875.00 | 896.00 | 795.00 | 699.00 | 689.00 | 456.00 | 437.00 |
| Total Liabilities | 3,371.00 | 2,979.00 | 2,441.00 | 1,939.00 | 1,625.00 | 1,443.00 | 1,382.00 | 1,164.00 | 1,064.00 | 967.00 | 715.00 | 679.00 |
| Fixed Assets | 753.00 | 392.00 | 367.00 | 215.00 | 192.00 | 190.00 | 194.00 | 161.00 | 145.00 | 99.00 | 103.00 | 85.00 |
| CWIP | 176.00 | 323.00 | 61.00 | 42.00 | 20.00 | 15.00 | 12.00 | 12.00 | 7.00 | 34.00 | 2.00 | 14.00 |
| Investments | 16.00 | 13.00 | 12.00 | 10.00 | 9.00 | 5.00 | 5.00 | 5.00 | 4.00 | 3.00 | 2.00 | 2.00 |
| Other Assets | 2,427.00 | 2,250.00 | 2,001.00 | 1,672.00 | 1,404.00 | 1,234.00 | 1,172.00 | 987.00 | 909.00 | 831.00 | 608.00 | 578.00 |
| Total Assets | 3,371.00 | 2,979.00 | 2,441.00 | 1,939.00 | 1,625.00 | 1,443.00 | 1,382.00 | 1,164.00 | 1,064.00 | 967.00 | 715.00 | 679.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -28.00 | 32.00 | 130.00 | 63.00 | 91.00 | 197.00 | 102.00 | 127.00 | 86.00 | 176.00 | 50.00 | 45.00 |
| Cash from Investing Activity | -36.00 | -165.00 | -160.00 | -41.00 | -93.00 | -27.00 | -17.00 | -70.00 | -167.00 | -75.00 | -25.00 | -17.00 |
| Cash from Financing Activity | 100.00 | 128.00 | 8.00 | -15.00 | -27.00 | -75.00 | -28.00 | -79.00 | 31.00 | -3.00 | -17.00 | -29.00 |
| Net Cash Flow | 35.00 | -4.00 | -22.00 | 6.00 | -28.00 | 96.00 | 56.00 | -22.00 | -50.00 | 98.00 | 8.00 | -1.00 |
| Free Cash Flow | -280.00 | -287.00 | 10.00 | 3.00 | 42.00 | 167.00 | 70.00 | 96.00 | 57.00 | 132.00 | 21.00 | 29.00 |
| CFO/OP % | 17.00 | 35.00 | 74.00 | 53.00 | 75.00 | 119.00 | 100.00 | 147.00 | 143.00 | 270.00 | 111.00 | 113.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 135.00 | 148.00 | 145.00 | 128.00 | 118.00 | 113.00 | 124.00 | 133.00 | 153.00 | 151.00 | 153.00 | 164.00 |
| Inventory Days | 87.00 | 63.00 | 59.00 | 65.00 | 70.00 | 52.00 | 51.00 | 65.00 | 55.00 | 68.00 | 53.00 | 55.00 |
| Days Payable | 177.00 | 165.00 | 174.00 | 162.00 | 202.00 | 219.00 | 188.00 | 207.00 | 197.00 | 206.00 | 215.00 | 221.00 |
| Cash Conversion Cycle | 44.00 | 46.00 | 31.00 | 31.00 | -14.00 | -54.00 | -13.00 | -9.00 | 11.00 | 12.00 | -9.00 | -2.00 |
| Working Capital Days | 53.00 | 33.00 | 16.00 | 5.00 | -27.00 | -53.00 | -51.00 | -64.00 | -72.00 | -48.00 | 3.00 | 5.00 |
| ROCE % | 14.00 | 22.00 | 27.00 | 34.00 | 36.00 | 40.00 | 35.00 | 33.00 | 27.00 | 27.00 | 20.00 | 16.00 |
Corporate Actions
23 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 02 Sep 2025 | 02 Sep 2025 | — | 1.50 | |
| Dividend | 03 Sep 2024 | — | — | 1.50 | |
| Dividend | 30 Aug 2023 | — | — | 1.25 | |
| Split | 12 Jun 2023 | 12 Jun 2023 | 10:1 | — | |
| Dividend | 29 Aug 2022 | — | — | 10.00 | |
| Dividend | 12 Aug 2021 | — | — | 10.00 | |
| Dividend | 10 Sep 2020 | — | — | 1.50 | |
| Dividend | 16 Mar 2020 | 17 Mar 2020 | — | 4.50 | |
| Dividend | 20 Aug 2019 | — | — | 4.50 | |
| Dividend | 28 Aug 2018 | — | — | 3.50 | |
| Dividend | 05 Sep 2017 | — | — | 3.50 | |
| Dividend | 30 Aug 2016 | — | — | 3.00 | |
| Dividend | 04 Sep 2015 | — | — | 3.00 | |
| Dividend | 11 Sep 2014 | — | — | 2.00 | |
| Dividend | 10 Sep 2013 | — | — | 2.00 | |
| Dividend | 11 Sep 2012 | — | — | 2.00 | |
| Dividend | 13 Sep 2011 | — | — | 2.00 | |
| Dividend | 03 Sep 2010 | — | — | 1.50 | |
| Dividend | 15 Sep 2009 | — | — | 1.00 | |
| Dividend | 12 Sep 2008 | — | — | 2.00 | |
| Dividend | 14 Sep 2007 | — | — | 1.50 | |
| Dividend | 17 Sep 2002 | — | — | 0.10 | |
| Other | 06 Sep 2001 | — | — | — | Agm |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update20 Mar from crisil
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Rating update17 Mar from crisil
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Rating update17 Dec 2024 from crisil
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Rating update3 Oct 2023 from crisil
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Rating update7 Jul 2022 from crisil
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Rating update29 May 2021 from crisil
Conference Calls
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