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Ion Exchange (India) Ltd.

339.20−7.75 (−2.23%)

BSE · 30 Oct, 4:01 PM

: ₹4,961.00 Cr
: 50.58
: 6,363
: ₹349.80 - ₹336.15
: ₹485.80 - ₹312.30

Ion Exchange (India) Ltd. (IONEXCHANG) share price closed at ₹339.20 on the BSE on Friday, October 30, 2026, down by 2.23% from its of ₹346.95. In that session IONEXCHANG reached a of 349.80 and of 336.15. The for the session was 338.81. The stands at 391.91 and is at 383.63. Looking at , the stock ended the session moving sideways.

Stock Overview

₹349.80

₹346.95

₹338.81

₹391.91

Price 13.45% below

₹383.63

Price 11.58% below

Key Fundamentals

: 4,961.00 Cr₹4.96 Thousand Crore
: 6.69
: 50.58
: 3.70
: 91.51
: 254.13 Cr₹254.13 Crore
: 0.37 %
Sector
Industry: Environmental Services
: 11.25
: 0.34

Industry Comparison

Ratio	Company	Sector
	50.58	21.01
	0.34	0.09
	3.70	2.39
	1.46	1.99
	0.37 %	0.00 %
Operating Margin	7.33 %	18.10 %

Sector figures are the median of 58 listed Business Services companies.

Peer Comparison

Name
VATECH WABA WABAG	1,821.20	28.62	11,385.20	0.28	90.10	36.93%	886.80	20.82%	21.22
Ion Exchange (India) Ltd. IONEXCHANG	339.20	50.58	4,961.00	0.37	3.06	-93.68%	700.46	20.11%	13.46
REFEX REFEX	212.45	11.26	2,915.42	0.71	50.69	40.07%	761.32	83.59%	24.06
ECORECO ECORECO	405.20	32.55	781.90	0.25	9.17	13.35%	16.19	75.22%	32.61
AWHCL AWHCL	275.00	13.44	780.51	0.18	0.75	-96.74%	260.99	5.52%	13.11
CEWATER CEWATER	223.55		462.66	0.00	-17.57	-526.54%	85.35	-16.65%	6.86
RACE RACE	104.00	23.86	179.47	0.00	1.04	150.00%	191.07	21.91%	11.71
BANKA BANKA	61.46	188.29	67.22	0.00	-0.04	-2,050.00%	10.55	-5.30%	4.81

Quarterly Results

consolidated figures in ₹ Crores · Quarterly

Particulars	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	781.81	567.57	644.47	690.51	834.56	583.19	733.94	734.44	863.27	700.46
Expenses	689.61	503.36	576.17	615.04	748.72	520.65	665.45	675.19	843.40	668.72
	92.20	64.21	68.30	75.47	85.84	62.54	68.49	59.25	19.87	31.74
	11.79%	11.31%	10.60%	10.93%	10.29%	10.72%	9.33%	8.07%	2.30%	4.53%
	16.85	11.07	14.35	8.35	14.84	17.74	14.26	-5.45	43.13	5.95
Interest	3.23	2.93	3.62	3.30	3.61	2.56	3.08	7.57	10.79	8.95
	10.42	10.44	10.89	11.33	11.83	12.26	12.17	18.57	19.60	21.75
	95.19	62.27	68.32	69.75	85.14	65.92	67.86	28.68	32.48	7.40
	23.89%	28.09%	25.88%	28.90%	25.72%	26.52%	26.44%	28.31%	25.22%	58.65%
	72.79	44.96	50.94	48.56	63.35	48.70	49.53	20.30	24.14	4.11
	5.12	3.16	3.58	3.41	4.45	3.42	3.48	1.43	1.70	0.29

Profit & Loss

consolidated figures in ₹ Crores · Annual

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00	12.00
INCOME :
Operating Income	1,576.87	1,989.61	2,347.85	2,737.11	2,914.84
Operating Income (Net)	1,576.87	1,989.61	2,347.85	2,737.11	2,914.84
EXPENDITURE :
Increase/Decrease in Stock	-25.37	-9.50	-0.57	-17.94	-85.41
Raw Material Consumed	971.11	1,252.06	1,465.26	1,743.35	1,938.99
Power & Fuel Cost	21.46	24.94	26.26	26.78	31.68
Employee Cost	199.04	236.26	296.55	341.53	414.56
Operating Expenses	53.71	55.24	60.37	98.31	96.27
General and Administration Expenses	84.64	101.28	128.08	144.35	169.90
Selling and Distribution Expenses	10.84	16.40	26.71	32.25	34.28
Miscellaneous Expenses	46.33	55.08	72.17	72.74	100.93
	1,361.74	1,731.77	2,074.82	2,441.38	2,701.19
Operating Profit (Excl OI)	215.13	257.84	273.03	295.73	213.65
	42.50	41.07	46.20	50.06	86.56
	257.63	298.91	319.23	345.79	300.22
Interest	12.67	12.05	15.47	16.83	27.50
PBDT	244.96	286.86	303.76	328.96	272.72
	28.04	29.09	36.41	44.49	62.60
Profit Before Taxation & Exceptional Items	216.91	257.77	267.35	284.47	210.12
Exceptional Income / Expenses					-16.89
	217.33	258.70	268.89	285.48	194.94
Provision for Tax	55.64	63.74	73.54	77.22	51.74
	161.69	194.97	195.35	208.25	143.20
Extra items				0.00	0.00
Minority Interest	1.09	1.78	0.67	-0.44	-0.54
Consolidated Net Profit	162.77	196.74	196.02	207.82	142.66
Profit Balance B/F	402.67	552.00	729.35	913.24	1,102.67
Appropriations	565.44	748.74	925.36	1,121.06	1,245.34
Equity Dividend %	100.00%	125.00%	150.00%	150.00%	125.00%
	114.40	138.27	13.78	14.61	10.03
Adjusted EPS	11.44	13.83	13.78	14.61	10.03

Balance Sheet

consolidated figures in ₹ Crores

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
	14.23	14.23	14.23	14.23	14.23
Total Reserves	641.43	819.26	1,003.68	1,193.65	1,324.80
Reserve excluding Revaluation Reserve	641.43	819.26	1,003.68	1,193.65	1,324.80
	655.66	833.49	1,017.91	1,207.87	1,339.03
Minority Interest	-0.83	2.31	1.90	1.61	1.29
Secured Loans	11.72	15.68	109.05	252.06	357.58
Deferred Tax Assets / Liabilities	-9.10	-10.82	0.85	1.11	-5.61
Other Long Term Liabilities	12.32	12.65	25.98	27.66	29.59
Long Term Provisions	18.98	23.89	26.13	20.77	30.24
Total Non-Current Liabilities	33.92	41.39	162.02	301.60	411.80
Trade Payables	523.49	551.25	694.63	778.98	899.67
Other Current Liabilities	354.58	460.07	537.84	654.38	654.22
Short Term Borrowings	26.90	27.49	12.22	16.23	23.10
Short Term Provisions	22.35	12.54	14.40	18.56	36.44
Total Current Liabilities	927.31	1,051.35	1,259.08	1,468.15	1,613.43
Total Liabilities	1,616.07	1,928.55	2,440.91	2,979.24	3,365.54
Gross Block	303.34	354.05	536.28	602.97	1,023.54
Less: Accumulated Depreciation	111.24	138.63	169.74	210.72	270.53
	192.10	215.41	366.54	392.25	753.02
	20.04	41.95	60.68	317.79	174.70
Non Current Investments	8.34	9.52	11.70	12.78	15.22
Long Term Investment	8.34	9.52	11.70	12.78	15.22
Long Term Loans & Advances	43.43	29.15	47.47	67.40	62.68
Other Non Current Assets	5.29	4.61	3.89	3.11	2.28
Total Non-Current Assets	269.20	300.64	490.27	798.97	1,008.82
Currents Investments	0.32	0.32	0.54	0.41	0.60
Inventories	180.96	222.26	236.54	298.99	441.39
Sundry Debtors	507.70	696.79	934.78	1,107.37	1,074.69
Cash and Bank	535.90	547.97	587.90	465.80	318.67
Other Current Assets	40.51	38.12	33.19	38.78	48.86
Short Term Loans and Advances	81.49	122.45	157.70	268.91	472.51
Total Current Assets	1,346.88	1,627.91	1,950.64	2,180.27	2,356.72
Net Current Assets (Including Current Investments)	419.56	576.55	691.55	712.12	743.29
Total Assets	1,616.07	1,928.55	2,440.91	2,979.24	3,365.54
	58.07	64.29	63.00	72.15	80.77
Total Debt	48.08	52.48	137.58	303.01	454.40
	460.80	585.78	71.54	84.89	94.11
Adjusted Book Value	46.08	58.58	71.54	84.89	94.11

Cash Flow

consolidated figures in ₹ Crores

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00	12.00
	216.91	257.77	267.35	284.47	193.23
Adjustment	21.60	14.00	21.97	22.06	47.84
Changes In working Capital	-75.77	-134.37	-84.24	-202.65	-204.86
Cash Flow after changes in Working Capital	162.75	137.41	205.08	103.88	36.21
Cash Flow from Operating Activities	91.38	62.73	129.94	32.05	-28.47
Cash Flow from Investing Activities	-92.00	-40.41	-160.05	-164.57	-44.46
Cash Flow from Financing Activitie	-26.86	-15.31	8.36	128.21	100.12
Net Cash Inflow / Outflow	-27.48	7.01	-21.74	-4.31	27.19
Opening Cash & Cash Equivalents	197.23	169.08	175.36	153.64	149.29
Effect of Foreign Exchange Fluctuations	-0.67	-0.73	0.03	-0.03	8.09
Closing Cash & Cash Equivalent	169.08	175.36	153.64	149.29	184.56

Ratios

Valuation

50.58

3.70

20.06

1.64

6.69

91.51

Profitability

11.25

13.46

4.51

7.33

4.91

Leverage & Liquidity

0.34

1.46

8.09

Returns

0.37

0.92

Shareholding Pattern

Numbers in percentages

Particulars	Jun '24	Sep '24	Dec '24	Mar '25	Jun '25	Sep '25	Dec '25	Mar '26	Jun '26	Sep '26
	26.20	25.90	25.78	25.76	25.70	25.66	25.58	25.52	25.43	25.08
	18.25	18.67	19.45	19.38	19.35	19.14	18.89	19.43	20.18	20.63
	55.55	55.43	54.77	54.87	54.95	55.20	55.52	55.05	54.39	54.29
	73.80	74.10	74.22	74.24	74.30	74.34	74.42	74.47	74.57	74.92
No. of Shareholders	87,586	1,15,664	1,19,037	1,28,164	1,25,651	1,19,139	1,20,488	1,16,996	1,20,052	1,20,767

Mutual Funds Invested(17)

Based on each fund's latest monthly portfolio · Sep 2026

A total of 9 active funds hold 12.72% in Ion Exchange (India) Ltd., contributing to ₹767 Cr of holdings

Fund				As of
NI Nippon India Small Cap Fund - Growth - Direct PlanSmall cap Fund	294.44	0.36	71,61,360	Sep '26
HD HDFC Small Cap Fund - Growth - Direct PlanSmall cap Fund	197.61	0.48	48,06,257	Sep '26
FT Franklin India Small Cap Fund - Growth - Direct PlanSmall cap Fund	116.46	0.82	28,32,593	Sep '26
AB Abakkus Small Cap Fund - Growth - Direct PlanSmall cap Fund	48.99	1.51	11,91,473	Sep '26
SU Sundaram Small Cap Fund - Growth - Direct PlanSmall cap Fund	45.19	1.10	10,99,116	Sep '26
FT Franklin Build India Fund - Growth - Direct PlanInfrastructure	39.06	1.29	9,50,000	Sep '26
SU Sundaram Multi Cap Fund - Growth - Direct PlanMulti Cap Fund	20.69	0.71	5,03,199	Sep '26
MO Motilal Oswal Nifty Microcap 250 Index Fund - Growth - Direct PlanIndex Funds - Other	9.38	0.39	2,28,168	Sep '26
QU Quantum Ethical Fund - Growth - Direct PlanEquity - Thematic Fund - Other	2.63	2.09	63,960	Sep '26
QU Quantum ESG Best In Class Strategy Fund - Growth - Direct PlanEquity - Thematic Fund - Other	2.05	2.32	49,762	Sep '26

Corporate Actions

Showing: All

Date	Type	Details
2026-10-28	Board Meeting	Quarterly Results
2026-08-18	AGM
2026-07-29	Board Meeting	Quarterly Results

Insider Trading

Date	Person	Category	Transaction Type	Shares
2026-09-18	Dinesh Sharma	Market	Sell	350,450
2026-08-25	Dhruv Dinesh Trigunayat	Gift	Buy	230,000
2026-08-25	Dinesh Sharma	Gift	Sell	230,000

Sector Overview

Business ServicesEnvironmental Services

Ion Exchange (India) Ltd. operates in the Business Services sector under the Environmental Services industry. This sector is one of the key drivers of the Indian economy and is closely tracked by the relevant Nifty sectoral index.

Company Profile

Corporate information and contact details

Key Management

11 members across the board and senior leadership

Nikisha Solanki

Company Secretary & Compliance Officer

—

Rajesh Sharma

Chairman

₹7.09 Cr

Mar '26

Dinesh Sharma

Vice Chairman

₹3.23 Cr

Mar '26

Aankur Patni

Vice Chairman

₹3.23 Cr

Mar '26

Indraneel Dutt

Managing Director & Chief Executive Officer

₹4.67 Cr

Mar '26

David Rasquinha