Ion Exchange (India) Limited , a pioneer in water and environment solutions, has set its sights on a robust order book exceeding ₹2,500 crores, with a strategic focus on industrial and municipal water treatment projects. The company is emphasizing key growth areas including exports, desalination, and zero-liquid-discharge systems to drive its expansion.

Strategic Growth Initiatives

Ion Exchange is actively investing in research and development, along with membrane manufacturing, to broaden its portfolio of sustainable water-tech solutions. This move is aimed at strengthening the company's global presence and cementing its position as a leader in the water treatment industry.

Financial Performance

According to the company's recent earnings presentation for Q2/H1-FY26:

The company has shown growth in its operating income and maintained stable profitability margins in the first half of FY26.

Order Book and Business Segments

As of September 30, 2025, Ion Exchange reported:

• Total Order Book: ~₹2,711 Cr
• Engineering Projects: ~₹2,269 Cr
• Outstanding Sri Lanka Order: ~₹104 Cr
• Outstanding UP Jal Nigam Order: ~₹338 Cr
• Bid Pipeline: ~₹9,011 Cr

The company's business is divided into three main segments:

1. Engineering (61% of revenue): Provides comprehensive water and wastewater treatment solutions.
2. Chemicals (29% of revenue): Offers resins, specialty chemicals, and chemical treatment programs.
3. Consumer Products (10% of revenue): Caters to various establishments with safe drinking water solutions.

Recent Developments

• Ion Exchange has entered a strategic partnership with MANN+HUMMEL Water & Membrane Solutions to manufacture Hollow-Fiber Ultrafiltration (UF) and Membrane Bioreactor (MBR) membranes in India.
• The company has commenced the stage-wise commissioning of its greenfield resin manufacturing plant at Roha, Maharashtra, enhancing its manufacturing capabilities.

Market Position

With a strong presence in both domestic (65%) and export (35%) markets, Ion Exchange continues to serve a diverse clientele including major industrial, institutional, and international customers.

As Ion Exchange expands its order book and focuses on technological advancements in water treatment, the company appears well-positioned to capitalize on the growing demand for water and wastewater management solutions both in India and globally.

Ion Exchange , a leading water and environment management company, has reported a mixed set of financial results for the second quarter of the fiscal year. The company saw an increase in revenue but experienced a slight decline in profitability.

Revenue Growth

Ion Exchange's consolidated revenue for Q2 rose to 7.34 billion rupees, up from 6.44 billion rupees in the same period last year, marking a significant year-over-year growth of 14%.

Profit Performance

Despite the revenue growth, the company's quarterly consolidated net profit decreased to 495.3 million rupees, down from 509.4 million rupees in the corresponding quarter of the previous year, representing a 2.8% decline.

EBITDA and Margin

The company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) saw a marginal increase to 685 million rupees from 683 million rupees year-over-year. However, the EBITDA margin compressed to 9.33% from 10.6% in the previous year, indicating some pressure on profitability.

Segment Performance

The company's performance across its various segments showed mixed results:

The Engineering and Chemicals segments showed strong performance, while the Consumer Products segment reported a loss.

Financial Position

As of September 30, Ion Exchange's consolidated balance sheet showed:

• Total assets: 311,049 lacs
• Total equity: 129,483 lacs
• Total liabilities: 181,566 lacs

Management Commentary

While specific management comments were not provided, the results suggest that Ion Exchange is experiencing growth in its core business segments, particularly in Engineering and Chemicals. However, the company may be facing challenges in maintaining profit margins, possibly due to increased operational costs or competitive pressures.

The company's board meeting, which approved these results, commenced at 11:30 a.m. and concluded at 7:00 p.m. on November 4, indicating a thorough review of the financial performance.

Investors and stakeholders will likely be watching how Ion Exchange addresses the margin compression and turns around the Consumer Products segment in the coming quarters.