ALFA Finder| Revenue growth | 20% YoY growth to INR 701 Cr in Q1 FY27. |
|---|---|
| Margins | EBITDA margin fell to 4.54% from 10.74% YoY. |
| Order book | INR 2,473 Cr as of June 2026, excluding recent Hyundai win. |
| Demand visibility | Strong bid pipeline of INR 9,777 Cr provides visibility. |
| Management confidence | Cautiously confident in restoring double-digit profitability over time. |
Growth
Revenue grew 20% YoY; however, EBITDA and PAT margins contracted significantly to 4.54% and 0.44% respectively due to legacy project headwinds.
Outlook
Management targets breaking even in consumer products this FY and anticipates 50% revenue growth in specialty chemicals over the next two years.
Risks
Profitability remains under pressure from specific high-value legacy projects (UP project) and geopolitical tensions impacting dispatches and input costs.
Last quarter's promises, checked
Delivered
- Guided 25-30% Roha utilization in first year → On track to meet guidance (= BEAT)
- Guided Roha plant commissioning → Fully commissioned in Q4 FY26 (= BEAT)
- Guided Sri Lanka project closure → Progressing as planned for Q2 FY27 (= BEAT)
Partly delivered
- Guided consumer segment growth → Revenue +33% but still not at break-even (= PARTIAL)
- Guided passing on raw material costs → Time lag in pricing actions impacting Q1 FY27 (= PARTIAL)
Missed
- Guided Engineering margins recovery → Margins contracted significantly in Q1 FY27 (= MISS)
- Guided legacy project execution → Execution pace remains slow and dragging margins (= MISS)
Investor Presentation filed with BSE, NSE: IONEXCHANG. Summary written with AI assistance from the document.
Ion Exchange (India) Ltd: key numbers
- Share price
- ₹326.05
- Market cap
- ₹4,782 Cr
- Revenue (annual)
- ₹2,915 Cr
- Net profit (annual)
- ₹142.7 Cr
- P/E (TTM)
- -147.1×Sector 21.7×
- Promoter holding
- 25.08%-0.35% QoQ
- FII holding
- 4.93%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Ion Exchange (India) Ltd
All →Ion Exchange (India) Earnings Call Transcript: Key Takeaways
Q2 FY27 EBITDA loss of ₹848 Mn and net loss of ₹828 Mn on ~8% revenue decline. Legacy-project overrun booked in one go. H2 recovery depends on deferred dispatches and the Hyundai order.
Ion Exchange (India) Investor Presentation: Key Takeaways
Q2 FY27 consolidated operating loss: operating income INR 6,747 Mn (-8.1% YoY), EBITDA INR (848) Mn, PAT INR (828) Mn, driven by legacy project cost revisions.
Ion Exchange (India) Management Change
Ion Exchange's board approved redesignating Executive Chairman Rajesh Sharma as Non-Executive Non-Independent Chairman, effective 1 January 2027. The change needs shareholder approval via postal ballot.
Ion Exchange (India) Q2 FY27 Results: Net Loss of ₹82.8 Cr
Ion Exchange (India) Ltd reported revenue from operations of ₹674.7 Cr (-8.1% YoY) and a net loss of ₹82.8 Cr for Q2 FY27.
- Key figure
- Net loss ₹82.8 Cr
Ion Exchange (India) Board Meeting Date
Ion Exchange India gave prior intimation of a November 3, 2026 board meeting to consider unaudited Q2 and H1 results. The filing is a future meeting notice with no results figures attached.
Ion Exchange (India) Other Announcement
Ion Exchange (India) Limited has filed its quarterly shareholding pattern for the period ended September 30, 2026, in compliance with SEBI regulation 31(1)(b).