Ion Exchange (India) Ltd

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

Ion Exchange (India) Ltd

₹ 663 -6.83%
20 Dec - 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

Water Management Company
The company has completed over 100,000 installations worldwide. It is a pioneer in water and wastewater treatment and environmental solutions, serving various industries, institutions, homes, and communities. [1] [2]
Business Segments
1) Engineering (58% in Q1 FY25 vs 61% in FY20): [3] [4] Provides integrated services and solutions in water & wastewater treatment including Sea Water desalination, Recycle and Zero liquid discharge plants to diverse industries.

Revenue grew 13% YoY, and EBIT rose 26% YoY in Q1 FY25 supported by steady medium-sized job orders and international contracts. The company expects faster execution of large EPC jobs in the coming quarters. [5]

Website BSE NSE
  • Market Cap ₹ 9,721 Cr.
  • Current Price ₹ 663
  • High / Low ₹ 768 / 407
  • Stock P/E 45.2
  • Book Value ₹ 74.7
  • Dividend Yield 0.23 %
  • ROCE 27.5 %
  • ROE 21.1 %
  • Face Value ₹ 1.00
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Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 24.5%

Cons

  • Stock is trading at 8.87 times its book value
  • Promoter holding is low: 25.9%

* 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: Infrastructure Developers & Operators Industry: Engineering - Turnkey Services

Part of BSE SmallCap BSE Allcap BSE Utilities Nifty Microcap 250 Nifty Total Market

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
378 388 496 382 448 512 647 479 533 554 782 568 644
338 345 402 349 394 450 541 430 473 483 690 503 576
Operating Profit 40 43 95 33 53 62 106 49 60 71 92 64 68
OPM % 10% 11% 19% 9% 12% 12% 16% 10% 11% 13% 12% 11% 11%
8 6 21 15 8 13 6 9 11 9 17 11 15
Interest 2 2 2 2 2 2 2 2 4 3 3 3 4
Depreciation 7 7 7 7 7 7 7 8 8 10 10 10 11
Profit before tax 38 39 106 39 52 65 102 48 59 67 95 62 68
Tax % 29% 28% 22% 30% 26% 27% 21% 30% 28% 30% 24% 28% 26%
27 28 83 27 39 48 81 33 42 47 72 45 51
EPS in Rs 1.87 1.94 5.66 1.91 2.66 3.28 5.57 2.27 2.90 3.24 4.96 3.07 3.47
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
852 787 798 868 1,009 1,046 1,162 1,480 1,450 1,577 1,990 2,348 2,548
801 751 750 810 935 966 1,053 1,342 1,243 1,361 1,731 2,072 2,253
Operating Profit 51 36 49 58 74 80 109 138 207 216 258 275 295
OPM % 6% 5% 6% 7% 7% 8% 9% 9% 14% 14% 13% 12% 12%
5 5 4 7 12 21 34 36 31 42 42 45 52
Interest 17 15 17 17 21 22 21 19 15 13 12 15 13
Depreciation 12 11 12 13 12 13 20 24 28 28 29 36 41
Profit before tax 26 15 24 35 54 66 102 131 195 217 259 269 293
Tax % 44% 68% 52% 51% 46% 40% 35% 28% 27% 26% 25% 27%
15 5 11 17 29 40 66 94 143 162 195 195 215
EPS in Rs 1.04 0.31 0.67 1.05 2.07 2.74 4.45 6.38 9.81 11.10 13.41 13.37 14.74
Dividend Payout % 18% 62% 43% 28% 16% 12% 10% 9% 10% 9% 9% 11%
Compounded Sales Growth
10 Years: 12%
5 Years: 15%
3 Years: 17%
TTM: 17%
Compounded Profit Growth
10 Years: 46%
5 Years: 24%
3 Years: 10%
TTM: 5%
Stock Price CAGR
10 Years: 39%
5 Years: 55%
3 Years: 47%
1 Year: 10%
Return on Equity
10 Years: 24%
5 Years: 26%
3 Years: 25%
Last Year: 21%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 13 14 14 14 14 14 14 14 14 14 14 14 14
Reserves 138 138 142 156 153 186 246 349 492 641 819 1,004 1,082
86 96 86 90 111 165 110 122 62 55 59 152 216
446 407 437 456 689 699 795 896 875 914 1,047 1,271 1,313
Total Liabilities 682 655 679 715 967 1,064 1,164 1,382 1,443 1,625 1,939 2,441 2,625
101 94 85 103 99 145 161 194 190 192 215 367 377
CWIP 1 1 14 2 34 7 12 12 15 20 42 61 133
Investments 3 3 2 2 3 4 5 5 5 9 10 12 13
577 557 578 608 831 909 987 1,172 1,234 1,404 1,672 2,001 2,101
Total Assets 682 655 679 715 967 1,064 1,164 1,382 1,443 1,625 1,939 2,441 2,625

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
31 5 45 50 176 86 127 102 197 91 63 130
-17 -1 -17 -25 -75 -167 -70 -17 -27 -93 -41 -160
-10 -7 -29 -17 -3 31 -79 -28 -75 -27 -15 8
Net Cash Flow 4 -2 -1 8 98 -50 -22 56 96 -28 6 -22

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 153 162 164 153 151 153 133 124 113 118 128 145
Inventory Days 45 51 55 53 68 55 65 51 52 70 65 59
Days Payable 217 212 221 215 206 197 207 188 219 202 162 174
Cash Conversion Cycle -19 0 -2 -9 12 11 -9 -13 -54 -14 31 31
Working Capital Days 19 37 30 27 -24 -33 -43 -30 -41 -18 13 21
ROCE % 19% 12% 16% 20% 27% 27% 33% 35% 40% 36% 34% 27%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
27.01% 27.01% 27.01% 27.01% 26.99% 26.95% 26.94% 26.76% 26.46% 26.38% 26.20% 25.92%
2.54% 2.66% 2.43% 0.71% 0.77% 1.95% 2.44% 3.94% 5.20% 5.63% 5.43% 5.44%
9.50% 9.68% 10.10% 10.82% 11.48% 11.58% 11.66% 11.90% 11.95% 12.21% 12.83% 13.24%
44.77% 44.47% 44.28% 45.28% 44.58% 43.34% 42.78% 41.20% 40.20% 39.59% 39.36% 39.24%
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 30,51132,09032,13431,48731,17931,15548,37362,68971,50775,49787,5861,15,663

* 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.

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