Labwater

India Listed
Offers lab water purification products and services for various sectors.
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About Labwater

Labwater is a publicly listed company based in India. It offers lab water purification products and services for various sectors. It operates on a B2B model. The company has 2,253 employees. Its Indian entity Ion Exchange (India) Limited reported revenue of ₹3,003 Cr. Labwater offers products and services including Lab-Q Ultra, Lab-Q Smart, Lab-Q Water Maker, and Lab-Q Spectra. Its focus areas include Industrial Tech, Water Treatment, Environmental Solutions and Laboratory Applications.

Company details

Ion Exchange (India) Ltd. specializes in water and environment management, providing purification systems for laboratories. They design, supply, and install technologies for pure and ultrapure water in biomedical, clinical, and industrial applications. Based in Mumbai, India, the company serves clients like IIT Roorkee and UAE institutions, ensuring compliance with international standards through innovative, cost-effective solutions.

  • Headquarters India
  • Employees 2,253
  • Stage Public
  • Sectors
    Chemicals & Materials
  • Email
    ••••••••
  • Phone
    •••• ••••
  • Website labwater.in
  • Social LinkedIn
  • Legal Name Ion Exchange (India) Ltd
  • Date of Incorporation 06 Mar, 1964
  • Jurisdiction Mumbai, Maharashtra, India
Operational Areas
Chemicals & Materials → Water & Environmental Treatment Chemicals
Chemicals & Materials → Water & Environmental Treatment Chemicals
Key Metrics
  • Market Cap
    ₹4,879 Cr

    IONEXCHANG · NSE

  • Share Price
    ₹340.10

    +2.24% today

  • Revenue
    ₹2,915 Cr

    FY 2025-26 · +6.5% YoY

  • EBITDA
    ₹197 Cr

    Margin 6.8%

  • Net Profit
    ₹153 Cr

    FY 2025-26 · -26.1% YoY

  • P/E (TTM)
    45.0x

    P/B 3.7x

  • ROE
    11.2%

    ROCE 13.0%

  • Debt / Equity
    0.32

    Interest cover 20.5x

  • Employee Count
    2,253

Products & Services of Labwater

Labwater offers a comprehensive portfolio of products and services, including Lab-Q Ultra, Lab-Q Smart, Lab-Q Water Maker, and Lab-Q Spectra.

Lab-Q Ultra
Water Purification System

Delivers pure water for routine and critical lab applications

Lab-Q Smart
Water Purification System

Generates reagent grade water for laboratory use

Lab-Q Water Maker
Water Purification System

Provides instant water as alternative to distillation units

Lab-Q Spectra
Water Purification System

Offers ultrapure water for advanced lab instruments

Apps and channels of Labwater

Labwater publishes 1 mobile app with over 10K+ downloads.

ZeroB Service App
Google Play Business Everyone Free 10K+ downloads
Developer: ION EXCHANGE INDIA LIMITED
View on Google Play

Board of directors of Ion Exchange (India) Limited (Labwater)

Ion Exchange (India) Limited is the primary company behind Labwater. The board of Ion Exchange (India) Limited currently have 10 directors; the longest-serving is Rajesh Chandrabhan Sharma, appointed in 1996. 12 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Rajesh Chandrabhan Sharma
DIN 00515486
Whole-time director26 Mar 199630 yrs 7 moIon Exchange (India) Limited
Mahabir Prasad Patni
DIN 00515553
Director28 Sep 200125 yrsIon Exchange (India) Limited
Aankur Patni
DIN 00090657
Director24 Jan 200620 yrs 9 moIon Exchange (India) Limited
Dinesh Sharma
DIN 00051986
Director24 Jan 200620 yrs 9 moIon Exchange (India) Limited
David Paul Rasquinha
DIN 01172654
Director02 Aug 20224 yrs 2 moIon Exchange (India) Limited
Sanjay Vithalrao Joshi
DIN 01656787
Director26 Jul 20233 yrs 3 moIon Exchange (India) Limited
Padmanabhan Gopalaraman
DIN 07130908
Director02 Aug 20242 yrs 2 moIon Exchange (India) Limited
Alka Arora Misra
DIN 08038518
Director02 Aug 20242 yrs 2 moIon Exchange (India) Limited
Amitava Guharoy
DIN 10708866
Director02 Aug 20242 yrs 2 moIon Exchange (India) Limited
Indraneel Dutt
DIN 01942447
Managing Director01 Oct 20242 yrsIon Exchange (India) Limited

IPO & Listings of Labwater

Labwater is a publicly listed company on the NSE with ticker symbol IONEXCHANG in India, operating in the Infrastructure Developers & Operators sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • Listed onNSE: IONEXCHANG
  • Listed entityIon Exchange (India) Limited
  • Exchange sectorInfrastructure Developers & Operators

Financials of Labwater

Exchange-reported figures of Ion Exchange (India) Limited, the listed company behind Labwater (NSE: IONEXCHANG).

Financial Highlights

FY 2025-26 · Consolidated
Revenue
₹2,915 Cr
+6.5% YoY
EBITDA
₹197 Cr
-33.8% YoY
Profit After Tax
₹153 Cr
-26.1% YoY
Net Worth
₹1,339 Cr
+10.9% YoY
Total Assets
₹1,865 Cr
+19.1% YoY
Total Debt
₹482 Cr
+49.5% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue2,9152,7372,3481,9901,5771,4501,480
Revenue growth+6.5%+16.6%+18.0%+26.2%+8.8%-2.1%-
EBITDA197297275258216204138
EBITDA margin+6.8%+10.9%+11.7%+13.0%+13.7%+14.1%+9.3%
Profit before tax195285269259217195131
Net profit15320819619716314693.69
Net profit margin+5.3%+7.6%+8.3%+9.9%+10.3%+10.1%+6.3%
EPS (₹)10.0314.6113.78138.27114.40101.1665.80
Balance sheet
Total assets1,8651,5661,213928738594514
Net worth1,3391,2081,018833656506363
Total debt48232315259.2355.2262.32122
Cash & bank319466588548536505373
Net working capital850768723616460344261
Cash flow
Cash from operations(28.47)32.0513062.7391.38197102
Cash from investing(36.38)(165)(160)(41.14)(92.67)(26.58)(17.34)
Cash from financing1001288.36(15.31)(26.86)(74.70)(28.17)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue700863734734583835691644
Revenue growth (YoY)+20.1%+3.4%+6.4%+13.9%+2.8%---
Other income6.3643.1312.5414.6218.2014.848.9114.53
EBITDA31.7419.7442.2868.4962.5485.7475.4768.30
EBITDA margin+4.5%+2.3%+5.8%+9.3%+10.7%+10.3%+10.9%+10.6%
Depreciation21.7519.6018.5712.1712.2611.8311.3310.89
Interest8.9510.797.573.082.563.613.303.62
Profit before tax7.4032.4828.6867.8665.9285.1469.7568.32
Tax4.348.198.1217.9417.4821.9020.1617.68
Net profit3.0624.2920.5649.9248.4463.2449.5950.64
EPS (₹)0.352.041.714.184.115.344.104.30
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue2,6792,5402,1801,8921,5091,4021,407
Revenue growth+5.5%+16.5%+15.2%+25.4%+7.7%-0.4%-
EBITDA173288270240199197124
EBITDA margin+6.4%+11.3%+12.4%+12.7%+13.2%+14.1%+8.8%
Profit before tax187288274246209196134
Net profit14821420418515414699.19
Net profit margin+5.5%+8.4%+9.4%+9.8%+10.2%+10.4%+7.1%
EPS (₹)9.4314.6213.92126.23105.1499.5367.58
Balance sheet
Total assets1,8381,5451,171966831691605
Net worth1,3901,2701,074887767627482
Total debt41024459.2449.3137.9341.1499.73
Cash & bank271424535517513487354
Net working capital819721699615513389304
Cash flow
Cash from operations(55.73)26.1812454.6875.1419264.73
Cash from investing(30.15)(169)(161)(22.78)(81.17)(25.49)6.55
Cash from financing111148(11.76)(26.98)(21.71)(69.52)(22.66)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue636814669678518785650589
Revenue growth (YoY)+22.7%+3.7%+2.9%+15.2%+0.3%---
Other income13.2444.7014.2516.4819.5215.1510.7612.61
Total expenses605803627617462702576522
EBITDA30.6811.0841.7360.7756.2183.2874.4366.95
EBITDA margin+4.8%+1.4%+6.2%+9.0%+10.9%+10.6%+11.5%+11.4%
Depreciation20.3418.3817.2110.9611.0310.6610.219.77
Interest8.2110.076.642.171.662.532.052.14
Profit before tax15.3727.3332.1364.1263.0485.2472.9367.65
Tax3.977.768.0716.2516.1620.6619.6016.91

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 27 Oct 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue700863734734583835691644
Revenue growth (YoY)+20.1%+3.4%+6.4%+13.9%+2.8%---
Other income6.3643.1312.5414.6218.2014.848.9114.53
EBITDA31.7419.7442.2868.4962.5485.7475.4768.30
EBITDA margin+4.5%+2.3%+5.8%+9.3%+10.7%+10.3%+10.9%+10.6%
Depreciation21.7519.6018.5712.1712.2611.8311.3310.89
Interest8.9510.797.573.082.563.613.303.62
Profit before tax7.4032.4828.6867.8665.9285.1469.7568.32
Tax4.348.198.1217.9417.4821.9020.1617.68
Net profit3.0624.2920.5649.9248.4463.2449.5950.64
EPS (₹)0.352.041.714.184.115.344.104.30
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue2,9152,7372,3481,9901,5771,4501,480
Revenue growth+6.5%+16.6%+18.0%+26.2%+8.8%-2.1%-
Other income88.2749.6145.4242.0042.1133.0935.81
Total expenses2,7182,4402,0731,7321,3611,2451,342
Employee cost415342297236199174181
EBITDA197297275258216204138
EBITDA margin+6.8%+10.9%+11.7%+13.0%+13.7%+14.1%+9.3%
Depreciation62.6044.4936.4129.0928.0427.6723.53
Interest27.5016.8315.4712.0512.6714.7219.25
Profit before tax195285269259217195131
Tax51.7377.2373.5463.7455.6451.7136.73
Net profit15320819619716314693.69
Net profit margin+5.3%+7.6%+8.3%+9.9%+10.3%+10.1%+6.3%
EPS (₹)10.0314.6113.78138.27114.40101.1665.80
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital14.2314.2314.2314.2314.2314.2314.23
Reserves & surplus1,3251,1941,004819670520377
Shareholders' funds (net worth)1,3391,2081,018833656506363
Minority interest1.291.611.902.31(0.83)(0.12)2.03
Secured loans45230113651.9041.9743.8696.75
Unsecured loans29.7521.3816.797.3313.2518.4625.42
Total debt48232315259.2355.2262.32122
Total liabilities1,8651,5661,213928738594514
Assets
Gross block1,024603536354303276253
Net block753392367215192190194
Capital work in progress17632360.6841.9520.0414.6011.51
Investments15.8313.1912.239.848.664.514.57
Inventories441299237222181128134
Sundry debtors1,0751,107935697508449502
Cash & bank balances319466588548536505373
Loans & advances521308191161122111120
Total current assets2,3562,1801,9501,6281,3471,1931,129
Total current liabilities1,5061,4121,2271,011887849868
Net working capital850768723616460344261
Total assets1,8651,5661,213928738594514
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash14915417516919710145.17
Net cash from operating activities(28.47)32.0513062.7391.38197102
Net cash from investing activities(36.38)(165)(160)(41.14)(92.67)(26.58)(17.34)
Net cash from financing activities1001288.36(15.31)(26.86)(74.70)(28.17)
Net change in cash35.27(4.35)(21.72)6.28(28.15)95.7756.28
Closing cash319466588548536505373
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+6.5%+16.6%+18.0%+26.2%+8.8%-2.1%-
EBITDA growth-33.8%+7.9%+6.8%+19.4%+5.7%+48.2%-
PBT growth-31.7%+6.2%+3.9%+19.0%+11.4%+49.0%+28.5%
Net income growth-26.1%+6.0%-0.6%+21.1%+11.6%+55.6%-
Revenue CAGR (3Y)+13.6%+20.2%+17.4%+10.4%+10.7%+11.5%+13.6%
EBITDA CAGR (3Y)-8.6%+11.2%+10.5%+23.2%+25.6%+36.6%+22.9%
Profitability & leverage
Net income margin+4.9%+7.6%+8.3%+9.8%+10.3%+9.9%+6.4%
Return on capital employed+13.0%+21.8%+26.6%+32.5%+34.5%+37.9%+33.2%
Return on net worth+11.2%+18.7%+21.1%+26.2%+27.8%+33.0%+30.2%
Debt / equity0.320.210.110.080.100.210.37
Long-term debt / equity0.250.170.080.020.020.050.09
Interest cover20.506.666.475.276.748.3316.84
Efficiency & per share
Fixed asset turnover3.584.815.276.055.445.486.48
Inventory turnover7.8710.2210.239.8710.2211.0611.20
Debtors turnover2.672.682.883.303.303.053.20
EPS (₹)10.0314.6113.78138.27114.40101.1665.80
Dividend per share (₹)1.251.501.5012.5010.0010.006.00
Book value per share (₹)94.1184.8971.54585.78480.57375.27274.96
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue636814669678518785650589
Revenue growth (YoY)+22.7%+3.7%+2.9%+15.2%+0.3%---
Other income13.2444.7014.2516.4819.5215.1510.7612.61
Total expenses605803627617462702576522
EBITDA30.6811.0841.7360.7756.2183.2874.4366.95
EBITDA margin+4.8%+1.4%+6.2%+9.0%+10.9%+10.6%+11.5%+11.4%
Depreciation20.3418.3817.2110.9611.0310.6610.219.77
Interest8.2110.076.642.171.662.532.052.14
Profit before tax15.3727.3332.1364.1263.0485.2472.9367.65
Tax3.977.768.0716.2516.1620.6619.6016.91
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue2,6792,5402,1801,8921,5091,4021,407
Revenue growth+5.5%+16.5%+15.2%+25.4%+7.7%-0.4%-
Other income94.9551.1547.0445.0146.1336.7848.54
Total expenses2,5062,2521,9101,6521,3101,2051,283
Employee cost332275242196164141149
EBITDA173288270240199197124
EBITDA margin+6.4%+11.3%+12.4%+12.7%+13.2%+14.1%+8.8%
Depreciation57.5839.9932.9528.1326.7826.1422.05
Interest23.3611.289.7211.489.8611.7616.09
Profit before tax187288274246209196134
Tax48.2473.5370.2560.6654.5349.9035.06
Net profit14821420418515414699.19
Net profit margin+5.5%+8.4%+9.4%+9.8%+10.2%+10.4%+7.1%
EPS (₹)9.4314.6213.92126.23105.1499.5367.58
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital14.6714.6714.6714.6714.6714.6714.67
Reserves & surplus1,3751,2561,060872781640495
Shareholders' funds (net worth)1,3901,2701,074887767627482
Secured loans38422747.2342.7721.5023.2176.86
Unsecured loans25.6517.1212.016.5416.4317.9322.87
Total debt41024459.2449.3137.9341.1499.73
Total liabilities1,8381,5451,171966831691605
Assets
Gross block887487425336281254231
Net block637290263204177174177
Capital work in progress17532260.7341.9520.0414.6011.51
Investments87.4885.9584.7759.4164.2862.7162.15
Inventories386241189186146102118
Sundry debtors1,0731,099922697509453514
Cash & bank balances271424535517513487354
Loans & advances512303213183181151150
Total current assets2,2412,0671,8591,5831,3491,1931,135
Total current liabilities1,4221,3461,160968836804832
Net working capital819721699615513389304
Total assets1,8381,5451,171966831691605
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash11611015915418184.6136.00
Net cash from operating activities(55.73)26.1812454.6875.1419264.73
Net cash from investing activities(30.15)(169)(161)(22.78)(81.17)(25.49)6.55
Net cash from financing activities111148(11.76)(26.98)(21.71)(69.52)(22.66)
Net change in cash25.325.43(48.23)4.92(27.73)96.6848.61
Closing cash271424535517513487354
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+5.5%+16.5%+15.2%+25.4%+7.7%-0.4%-
EBITDA growth-40.1%+6.7%+12.3%+20.7%+1.1%+59.2%-
PBT growth-35.2%+5.0%+11.6%+17.8%+6.6%+46.0%+32.7%
Net income growth-31.1%+5.0%+10.0%+20.3%+5.5%+47.2%-
Revenue CAGR (3Y)+12.3%+19.0%+15.9%+10.4%+11.0%+12.5%+15.0%
EBITDA CAGR (3Y)-10.5%+13.1%+11.1%+24.8%+28.8%+39.3%+16.5%
Profitability & leverage
Net income margin+5.2%+8.4%+9.4%+9.8%+10.2%+10.4%+7.0%
Return on capital employed+12.4%+22.0%+26.6%+28.6%+28.7%+32.0%+27.7%
Return on net worth+10.4%+18.3%+20.8%+22.4%+22.1%+26.3%+23.2%
Debt / equity0.250.130.060.050.060.130.22
Long-term debt / equity0.200.110.040.020.020.040.06
Interest cover20.304.554.105.415.726.8815.82
Efficiency & per share
Fixed asset turnover3.905.575.726.135.645.786.78
Inventory turnover8.5511.8211.6511.4112.1412.7212.39
Debtors turnover2.472.512.693.143.142.902.99
EPS (₹)9.4314.6213.92126.23105.1499.5367.58
Dividend per share (₹)1.251.501.5012.5010.0010.006.00
Book value per share (₹)94.7586.6173.25604.43542.41446.66347.44

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Frequently Asked Questions about Labwater

Labwater is headquartered in India.

Labwater has 2,253 employees.

The primary company behind Labwater, Ion Exchange (India) Limited, reported revenue of ₹3,003 Cr for FY 2026, up 6% year on year.

Ion Exchange (India) Ltd. specializes in water and environment management, providing purification systems for laboratories. They design, supply, and install technologies for pure and ultrapure water in biomedical, clinical, and industrial applications. Based in Mumbai, India, the company serves clients like IIT Roorkee and UAE institutions, ensuring compliance with international standards through innovative, cost-effective solutions.

Labwater offers Lab-Q Ultra, Lab-Q Smart, Lab-Q Water Maker, and Lab-Q Spectra.

Yes, Labwater is publicly traded on NSE under the ticker symbol IONEXCHANG.

Labwater operates through Ion Exchange (India) Limited.

The legal entities of Labwater currently have 12 directors, including Rajesh Chandrabhan Sharma, Aankur Patni, Dinesh Sharma and others.

Yes. Labwater publishes ZeroB Service App, with over 10,000 downloads.

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