Ion Exchange (India) Ltd

ION Exchange Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Ion Exchange (India) Ltd

₹ 627 0.75%
22 Jul - close price
ionexchangeglobal.com BSE: 500214 NSE: IONEXCHANG
About

Ion Exchange (India) is engaged in a wide range of solutions across the water cycle from pre-treatment to process water treatment, waste water treatment, recycle, zero liquid discharge, sewage treatment, packaged drinking water, sea water desalination etc.(Source : 201903 Annual Report Page No: 63)

Key Points

Leader in Water Management Industry
The company completed ~100,000+ Installations worldwide. IEL India started its journey as a flagship company for the Ion Exchange Group London but the Foreign holding has been reduced in stages and is now owned by the Indian promoters since 1985. [1] It is the largest one stop solution’s provider in Asia.The company has ~50 patents and
100+ products commercialized as of FY23.[2]

Website BSE NSE
  • Market Cap ₹ 9,197 Cr.
  • Current Price ₹ 627
  • High / Low ₹ 710 / 407
  • Stock P/E 45.1
  • Book Value ₹ 73.2
  • Dividend Yield 0.20 %
  • ROCE 26.7 %
  • ROE 20.3 %
  • Face Value ₹ 1.00
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Pros

  • Company is almost debt free.

Cons

  • Stock is trading at 8.56 times its book value
  • Promoter holding is low: 26.2%
  • Company has high debtors of 154 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Capital Goods-Non Electrical Equipment Industry: Engineering

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
433 301 365 378 466 358 418 496 619 449 483 512 735
353 264 325 336 387 325 374 436 521 398 426 443 647
Operating Profit 80 36 40 43 78 33 44 61 98 51 57 69 88
OPM % 19% 12% 11% 11% 17% 9% 11% 12% 16% 11% 12% 13% 12%
10 10 10 7 19 18 11 13 5 11 11 10 17
Interest 2 2 2 2 2 2 2 2 2 2 2 2 1
Depreciation 6 7 7 7 7 7 7 7 7 8 8 9 9
Profit before tax 82 37 41 41 89 42 46 65 93 52 59 69 94
Tax % 23% 27% 27% 26% 26% 27% 27% 27% 21% 26% 26% 28% 24%
63 27 30 30 66 31 34 47 73 38 43 50 72
EPS in Rs 4.28 1.87 2.05 2.08 4.51 2.12 2.32 3.23 5.01 2.62 2.96 3.39 4.89
Raw PDF
Upcoming result date: 2 August 2024

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
767 712 732 802 926 986 1,102 1,407 1,402 1,509 1,892 2,180
719 669 680 740 848 913 1,009 1,283 1,205 1,310 1,656 1,913
Operating Profit 48 43 52 62 78 73 93 124 197 199 236 267
OPM % 6% 6% 7% 8% 8% 7% 8% 9% 14% 13% 12% 12%
6 8 8 12 18 30 44 48 37 46 46 47
Interest 14 11 12 12 15 18 18 16 12 10 9 7
Depreciation 8 8 10 10 11 12 18 22 26 27 28 33
Profit before tax 32 31 38 51 71 73 101 134 196 209 245 274
Tax % 34% 35% 31% 33% 34% 34% 34% 26% 25% 26% 25% 26%
21 21 26 34 47 48 67 99 146 154 185 204
EPS in Rs 1.58 1.41 1.80 2.37 3.20 3.25 4.54 6.76 9.95 10.51 12.59 13.92
Dividend Payout % 12% 14% 17% 13% 11% 11% 10% 9% 10% 10% 10% 11%
Compounded Sales Growth
10 Years: 12%
5 Years: 15%
3 Years: 16%
TTM: 15%
Compounded Profit Growth
10 Years: 26%
5 Years: 25%
3 Years: 12%
TTM: 10%
Stock Price CAGR
10 Years: 44%
5 Years: 54%
3 Years: 35%
1 Year: 16%
Return on Equity
10 Years: 21%
5 Years: 22%
3 Years: 21%
Last Year: 20%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 13 15 15 15 15 15 15 15 15 15 15 15
Reserves 171 186 206 236 256 299 360 467 612 753 923 1,060
62 73 52 62 87 139 86 100 41 38 32 59
329 328 360 387 625 656 755 855 828 861 995 1,197
Total Liabilities 575 602 632 700 982 1,108 1,215 1,437 1,496 1,667 1,965 2,331
83 77 70 80 90 136 144 177 174 177 200 263
CWIP 1 1 5 2 34 7 12 12 15 20 42 61
Investments 52 52 55 55 57 58 61 62 63 64 68 85
438 472 502 562 802 908 998 1,186 1,244 1,405 1,654 1,922
Total Assets 575 602 632 700 982 1,108 1,215 1,437 1,496 1,667 1,965 2,331

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
23 -2 42 24 158 80 105 65 192 75 43 124
-13 2 -6 -16 -65 -160 -57 7 -25 -81 -14 -161
-8 -2 -35 -4 4 33 -73 -23 -70 -22 -24 -12
Net Cash Flow 2 -1 1 4 98 -48 -25 49 97 -28 5 -48

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 127 149 163 153 154 159 142 133 118 123 135 154
Inventory Days 29 30 34 41 59 43 54 45 42 57 55 50
Days Payable 175 192 203 199 196 188 196 181 205 188 154 171
Cash Conversion Cycle -19 -12 -6 -5 17 14 0 -2 -46 -9 35 33
Working Capital Days 13 37 39 45 -6 -16 -25 -16 -25 0 24 28
ROCE % 20% 16% 18% 22% 26% 22% 26% 29% 33% 30% 29% 27%

Shareholding Pattern

Numbers in percentages

3 Recently
Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
27.01% 27.01% 27.01% 27.01% 27.01% 26.99% 26.95% 26.94% 26.76% 26.46% 26.38% 26.20%
1.63% 2.54% 2.66% 2.43% 0.71% 0.77% 1.95% 2.44% 3.94% 5.20% 5.63% 5.43%
8.14% 9.50% 9.68% 10.10% 10.82% 11.48% 11.58% 11.66% 11.90% 11.95% 12.21% 12.83%
47.04% 44.77% 44.47% 44.28% 45.28% 44.58% 43.34% 42.78% 41.20% 40.20% 39.59% 39.36%
16.18% 16.18% 16.18% 16.18% 16.18% 16.18% 16.18% 16.18% 16.18% 16.18% 16.18% 16.18%
No. of Shareholders 30,22330,51132,09032,13431,48731,17931,15548,37362,68971,50775,49787,586

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

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