ALFA Finder| Revenue growth | Consolidated Q2 -8.1% YoY; H1 +4.4% YoY |
|---|---|
| Margins | Consolidated EBITDA margin (12.57)% vs 9.33% Q2 FY26 |
| Order book | Total orderbook INR 29,690 Mn as of 30 Sep 2026 |
| Demand visibility | Bid pipeline INR 93,700 Mn; H2 execution scheduled |
| Management confidence | Qualitative H2 recovery claims; no numeric targets |
Growth
Consolidated Q2 operating income fell 8.1% YoY; H1 rose 4.4%. Industrial Products grew about 35% YoY; Consumer Products grew strongly.
Outlook
No quantified guidance. H2 Treatment Solutions turnover and margins expected to improve on backlog; Roha resin offtake rising.
Risks
Legacy Treatment Solutions cost-to-complete overrun; West Asia crisis delaying GCC dispatches and raising input costs; Roha facility costs.
Last quarter's promises, checked
Delivered
- Guided Hyundai INR 500+ cr order, no delay → Q2 order book INR 29,690 Mn vs Q1 INR 2,473 cr excl. Hyundai (= BEAT)
Partly delivered
- Guided Roha 25% year-1 utilisation → offtake 'rising', no utilisation % disclosed (= PARTIAL)
- Guided consumer break-even this FY (Q1 loss INR 34 lakh) → Q2 'strong growth', profit not disclosed (= PARTIAL)
Missed
- Guided legacy 'out of woods soon', margins back to double-digit over time → Q1 EBITDA 4.54%, Q2 (12.57)% (= MISS)
- Guided Treatment Solutions recovery from Q1 INR 210 cr revenue, INR 17 cr EBIT loss → Q2 standalone down ~51% (= MISS)
Investor Presentation filed with NSE, 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) 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).
Ion Exchange (India) Employee Stock Options
Ion Exchange (India) Limited filed the Trust Deed for its 'Ion Exchange ESOP Trust', established to administer the company's 2026 Employee Stock Option Scheme.
- Value
- ₹0.00 Cr