- Valuation
- ₹10,550 Cr

About Ion Exchange (India) Limited
Data last updated:
Ion Exchange (India) Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the engineering sector. It was incorporated on 06 March 1964 and has been in existence for over 62 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L74999MH1964PLC014258. Its GSTIN is 27AAACI1726L1ZK (Maharashtra). The company holds 28 GST registrations, of which 24 are active. Its shares are listed on BSE: 500214 and NSE: IONEXCHANG.
The company has an authorised share capital of ₹32 Cr and a paid-up capital of ₹14.67 Cr. It is led by directors including Indraneel Dutt (Managing Director) and Rajesh Chandrabhan Sharma (Whole-Time Director).
Its last annual general meeting (AGM) was held on 09 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Ion House Dr. E.Moses Road Mahalaxmi, Mumbai, Maharashtra, India – 400011.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹2,914.84 Cr, a growth of 6.5% compared to the previous year. For the same year it recorded a net profit of ₹153.32 Cr (net margin 5.3%) and EBITDA of ₹196.75 Cr (EBITDA margin 6.7%). The net worth stands at ₹1,339.03 Cr (up 10.9% YoY). Total assets are valued at ₹1,865.2 Cr (up 19.1% YoY).
The company has about 2,253 employees on its provident fund (EPFO) records. Its group structure includes 8 subsidiaries.
The company is associated with 2 brands: Labwater and Ion Exchange. As per MCA filings, the company has open charges of ₹3,358.36 Cr and satisfied charges of ₹3,063.78 Cr on record. Court records list 418 cases involving the company, including 236 filed by the company and 183 filed against it; 88 cases are pending. The company has 31 deals on record (27 market trades, 3 secondary share transfers, 1 funding round), with disclosed funding of ₹48.3 Lakh; the latest was in September 2024. The company has 24 MSME Form 1 returns on record between 2017 and 2024, listing 6,285 overdue payments to 417 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website ionexchangeglobal.com.
CIN History
Ion Exchange (India) has one previous CIN (Corporate Identification Number): U74999MH2004PTC014258. The current CIN is L74999MH1964PLC014258, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L74999MH1964PLC014258 | Current |
| U74999MH2004PTC014258 | Previous |
Recognitions & Rankings of Ion Exchange (India)
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Registered AddressIon House Dr. E.Moses Road Mahalaxmi, Mumbai, Maharashtra, India – 400011
- IndustryEngineering, Engineering, Procurement & Construction (EPC)
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
- One PDF report, delivered after checkout
Associated Brands
Ion Exchange (India) operates two associated brands: Labwater and Ion Exchange. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Water and environmental management solutions are provided by Ion Exchange. | ionexchangeglobal.com | |
| Offers lab water purification products and services for various sectors. | labwater.in |
Business Activity
The main business activities of Ion Exchange (India) are water supply, sewerage and waste management and manufacturing. In detail, this covers water collection, treatment and supply and chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products. 2 activity segments are registered with the MCA.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| E | Water supply, sewerage and waste management | E1 | Water collection, treatment and supply | Locked |
| C | Manufacturing | C6 | Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Financials of Ion Exchange (India) Limited
FY 2025-26 filings availableIon Exchange (India) Limited reported revenue of ₹2,914.84 Cr (up 6.5% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 2,915 | 2,737 | 2,348 | 1,990 | 1,577 | 1,450 | 1,480 |
| Revenue growth | +6.5% | +16.6% | +18.0% | +26.2% | +8.8% | -2.1% | - |
| EBITDA | 197 | 297 | 275 | 258 | 216 | 204 | 138 |
| EBITDA margin | +6.8% | +10.9% | +11.7% | +13.0% | +13.7% | +14.1% | +9.3% |
| Profit before tax | 195 | 285 | 269 | 259 | 217 | 195 | 131 |
| Net profit | 153 | 208 | 196 | 197 | 163 | 146 | 93.69 |
| Net profit margin | +5.3% | +7.6% | +8.3% | +9.9% | +10.3% | +10.1% | +6.3% |
| EPS (₹) | 10.03 | 14.61 | 13.78 | 138.27 | 114.40 | 101.16 | 65.80 |
| Balance sheet | |||||||
| Total assets | 1,865 | 1,566 | 1,213 | 928 | 738 | 594 | 514 |
| Net worth | 1,339 | 1,208 | 1,018 | 833 | 656 | 506 | 363 |
| Total debt | 482 | 323 | 152 | 59.23 | 55.22 | 62.32 | 122 |
| Cash & bank | 319 | 466 | 588 | 548 | 536 | 505 | 373 |
| Net working capital | 850 | 768 | 723 | 616 | 460 | 344 | 261 |
| Cash flow | |||||||
| Cash from operations | (28.47) | 32.05 | 130 | 62.73 | 91.38 | 197 | 102 |
| Cash from investing | (36.38) | (165) | (160) | (41.14) | (92.67) | (26.58) | (17.34) |
| Cash from financing | 100 | 128 | 8.36 | (15.31) | (26.86) | (74.70) | (28.17) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 700 | 863 | 734 | 734 | 583 | 835 | 691 | 644 |
| Revenue growth (YoY) | +20.1% | +3.4% | +6.4% | +13.9% | +2.8% | - | - | - |
| Other income | 6.36 | 43.13 | 12.54 | 14.62 | 18.20 | 14.84 | 8.91 | 14.53 |
| EBITDA | 31.74 | 19.74 | 42.28 | 68.49 | 62.54 | 85.74 | 75.47 | 68.30 |
| EBITDA margin | +4.5% | +2.3% | +5.8% | +9.3% | +10.7% | +10.3% | +10.9% | +10.6% |
| Depreciation | 21.75 | 19.60 | 18.57 | 12.17 | 12.26 | 11.83 | 11.33 | 10.89 |
| Interest | 8.95 | 10.79 | 7.57 | 3.08 | 2.56 | 3.61 | 3.30 | 3.62 |
| Profit before tax | 7.40 | 32.48 | 28.68 | 67.86 | 65.92 | 85.14 | 69.75 | 68.32 |
| Tax | 4.34 | 8.19 | 8.12 | 17.94 | 17.48 | 21.90 | 20.16 | 17.68 |
| Net profit | 3.06 | 24.29 | 20.56 | 49.92 | 48.44 | 63.24 | 49.59 | 50.64 |
| EPS (₹) | 0.35 | 2.04 | 1.71 | 4.18 | 4.11 | 5.34 | 4.10 | 4.30 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 2,679 | 2,540 | 2,180 | 1,892 | 1,509 | 1,402 | 1,407 |
| Revenue growth | +5.5% | +16.5% | +15.2% | +25.4% | +7.7% | -0.4% | - |
| EBITDA | 173 | 288 | 270 | 240 | 199 | 197 | 124 |
| EBITDA margin | +6.4% | +11.3% | +12.4% | +12.7% | +13.2% | +14.1% | +8.8% |
| Profit before tax | 187 | 288 | 274 | 246 | 209 | 196 | 134 |
| Net profit | 148 | 214 | 204 | 185 | 154 | 146 | 99.19 |
| Net profit margin | +5.5% | +8.4% | +9.4% | +9.8% | +10.2% | +10.4% | +7.1% |
| EPS (₹) | 9.43 | 14.62 | 13.92 | 126.23 | 105.14 | 99.53 | 67.58 |
| Balance sheet | |||||||
| Total assets | 1,838 | 1,545 | 1,171 | 966 | 831 | 691 | 605 |
| Net worth | 1,390 | 1,270 | 1,074 | 887 | 767 | 627 | 482 |
| Total debt | 410 | 244 | 59.24 | 49.31 | 37.93 | 41.14 | 99.73 |
| Cash & bank | 271 | 424 | 535 | 517 | 513 | 487 | 354 |
| Net working capital | 819 | 721 | 699 | 615 | 513 | 389 | 304 |
| Cash flow | |||||||
| Cash from operations | (55.73) | 26.18 | 124 | 54.68 | 75.14 | 192 | 64.73 |
| Cash from investing | (30.15) | (169) | (161) | (22.78) | (81.17) | (25.49) | 6.55 |
| Cash from financing | 111 | 148 | (11.76) | (26.98) | (21.71) | (69.52) | (22.66) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 636 | 814 | 669 | 678 | 518 | 785 | 650 | 589 |
| Revenue growth (YoY) | +22.7% | +3.7% | +2.9% | +15.2% | +0.3% | - | - | - |
| Other income | 13.24 | 44.70 | 14.25 | 16.48 | 19.52 | 15.15 | 10.76 | 12.61 |
| Total expenses | 605 | 803 | 627 | 617 | 462 | 702 | 576 | 522 |
| EBITDA | 30.68 | 11.08 | 41.73 | 60.77 | 56.21 | 83.28 | 74.43 | 66.95 |
| EBITDA margin | +4.8% | +1.4% | +6.2% | +9.0% | +10.9% | +10.6% | +11.5% | +11.4% |
| Depreciation | 20.34 | 18.38 | 17.21 | 10.96 | 11.03 | 10.66 | 10.21 | 9.77 |
| Interest | 8.21 | 10.07 | 6.64 | 2.17 | 1.66 | 2.53 | 2.05 | 2.14 |
| Profit before tax | 15.37 | 27.33 | 32.13 | 64.12 | 63.04 | 85.24 | 72.93 | 67.65 |
| Tax | 3.97 | 7.76 | 8.07 | 16.25 | 16.16 | 20.66 | 19.60 | 16.91 |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 700 | 863 | 734 | 734 | 583 | 835 | 691 | 644 |
| Revenue growth (YoY) | +20.1% | +3.4% | +6.4% | +13.9% | +2.8% | - | - | - |
| Other income | 6.36 | 43.13 | 12.54 | 14.62 | 18.20 | 14.84 | 8.91 | 14.53 |
| EBITDA | 31.74 | 19.74 | 42.28 | 68.49 | 62.54 | 85.74 | 75.47 | 68.30 |
| EBITDA margin | +4.5% | +2.3% | +5.8% | +9.3% | +10.7% | +10.3% | +10.9% | +10.6% |
| Depreciation | 21.75 | 19.60 | 18.57 | 12.17 | 12.26 | 11.83 | 11.33 | 10.89 |
| Interest | 8.95 | 10.79 | 7.57 | 3.08 | 2.56 | 3.61 | 3.30 | 3.62 |
| Profit before tax | 7.40 | 32.48 | 28.68 | 67.86 | 65.92 | 85.14 | 69.75 | 68.32 |
| Tax | 4.34 | 8.19 | 8.12 | 17.94 | 17.48 | 21.90 | 20.16 | 17.68 |
| Net profit | 3.06 | 24.29 | 20.56 | 49.92 | 48.44 | 63.24 | 49.59 | 50.64 |
| EPS (₹) | 0.35 | 2.04 | 1.71 | 4.18 | 4.11 | 5.34 | 4.10 | 4.30 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 2,915 | 2,737 | 2,348 | 1,990 | 1,577 | 1,450 | 1,480 |
| Revenue growth | +6.5% | +16.6% | +18.0% | +26.2% | +8.8% | -2.1% | - |
| Other income | 88.27 | 49.61 | 45.42 | 42.00 | 42.11 | 33.09 | 35.81 |
| Total expenses | 2,718 | 2,440 | 2,073 | 1,732 | 1,361 | 1,245 | 1,342 |
| Employee cost | 415 | 342 | 297 | 236 | 199 | 174 | 181 |
| EBITDA | 197 | 297 | 275 | 258 | 216 | 204 | 138 |
| EBITDA margin | +6.8% | +10.9% | +11.7% | +13.0% | +13.7% | +14.1% | +9.3% |
| Depreciation | 62.60 | 44.49 | 36.41 | 29.09 | 28.04 | 27.67 | 23.53 |
| Interest | 27.50 | 16.83 | 15.47 | 12.05 | 12.67 | 14.72 | 19.25 |
| Profit before tax | 195 | 285 | 269 | 259 | 217 | 195 | 131 |
| Tax | 51.73 | 77.23 | 73.54 | 63.74 | 55.64 | 51.71 | 36.73 |
| Net profit | 153 | 208 | 196 | 197 | 163 | 146 | 93.69 |
| Net profit margin | +5.3% | +7.6% | +8.3% | +9.9% | +10.3% | +10.1% | +6.3% |
| EPS (₹) | 10.03 | 14.61 | 13.78 | 138.27 | 114.40 | 101.16 | 65.80 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 14.23 | 14.23 | 14.23 | 14.23 | 14.23 | 14.23 | 14.23 |
| Reserves & surplus | 1,325 | 1,194 | 1,004 | 819 | 670 | 520 | 377 |
| Shareholders' funds (net worth) | 1,339 | 1,208 | 1,018 | 833 | 656 | 506 | 363 |
| Minority interest | 1.29 | 1.61 | 1.90 | 2.31 | (0.83) | (0.12) | 2.03 |
| Secured loans | 452 | 301 | 136 | 51.90 | 41.97 | 43.86 | 96.75 |
| Unsecured loans | 29.75 | 21.38 | 16.79 | 7.33 | 13.25 | 18.46 | 25.42 |
| Total debt | 482 | 323 | 152 | 59.23 | 55.22 | 62.32 | 122 |
| Total liabilities | 1,865 | 1,566 | 1,213 | 928 | 738 | 594 | 514 |
| Assets | |||||||
| Gross block | 1,024 | 603 | 536 | 354 | 303 | 276 | 253 |
| Net block | 753 | 392 | 367 | 215 | 192 | 190 | 194 |
| Capital work in progress | 176 | 323 | 60.68 | 41.95 | 20.04 | 14.60 | 11.51 |
| Investments | 15.83 | 13.19 | 12.23 | 9.84 | 8.66 | 4.51 | 4.57 |
| Inventories | 441 | 299 | 237 | 222 | 181 | 128 | 134 |
| Sundry debtors | 1,075 | 1,107 | 935 | 697 | 508 | 449 | 502 |
| Cash & bank balances | 319 | 466 | 588 | 548 | 536 | 505 | 373 |
| Loans & advances | 521 | 308 | 191 | 161 | 122 | 111 | 120 |
| Total current assets | 2,356 | 2,180 | 1,950 | 1,628 | 1,347 | 1,193 | 1,129 |
| Total current liabilities | 1,506 | 1,412 | 1,227 | 1,011 | 887 | 849 | 868 |
| Net working capital | 850 | 768 | 723 | 616 | 460 | 344 | 261 |
| Total assets | 1,865 | 1,566 | 1,213 | 928 | 738 | 594 | 514 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 149 | 154 | 175 | 169 | 197 | 101 | 45.17 |
| Net cash from operating activities | (28.47) | 32.05 | 130 | 62.73 | 91.38 | 197 | 102 |
| Net cash from investing activities | (36.38) | (165) | (160) | (41.14) | (92.67) | (26.58) | (17.34) |
| Net cash from financing activities | 100 | 128 | 8.36 | (15.31) | (26.86) | (74.70) | (28.17) |
| Net change in cash | 35.27 | (4.35) | (21.72) | 6.28 | (28.15) | 95.77 | 56.28 |
| Closing cash | 319 | 466 | 588 | 548 | 536 | 505 | 373 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 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 / equity | 0.32 | 0.21 | 0.11 | 0.08 | 0.10 | 0.21 | 0.37 |
| Long-term debt / equity | 0.25 | 0.17 | 0.08 | 0.02 | 0.02 | 0.05 | 0.09 |
| Interest cover | 20.50 | 6.66 | 6.47 | 5.27 | 6.74 | 8.33 | 16.84 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 3.58 | 4.81 | 5.27 | 6.05 | 5.44 | 5.48 | 6.48 |
| Inventory turnover | 7.87 | 10.22 | 10.23 | 9.87 | 10.22 | 11.06 | 11.20 |
| Debtors turnover | 2.67 | 2.68 | 2.88 | 3.30 | 3.30 | 3.05 | 3.20 |
| EPS (₹) | 10.03 | 14.61 | 13.78 | 138.27 | 114.40 | 101.16 | 65.80 |
| Dividend per share (₹) | 1.25 | 1.50 | 1.50 | 12.50 | 10.00 | 10.00 | 6.00 |
| Book value per share (₹) | 94.11 | 84.89 | 71.54 | 585.78 | 480.57 | 375.27 | 274.96 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 636 | 814 | 669 | 678 | 518 | 785 | 650 | 589 |
| Revenue growth (YoY) | +22.7% | +3.7% | +2.9% | +15.2% | +0.3% | - | - | - |
| Other income | 13.24 | 44.70 | 14.25 | 16.48 | 19.52 | 15.15 | 10.76 | 12.61 |
| Total expenses | 605 | 803 | 627 | 617 | 462 | 702 | 576 | 522 |
| EBITDA | 30.68 | 11.08 | 41.73 | 60.77 | 56.21 | 83.28 | 74.43 | 66.95 |
| EBITDA margin | +4.8% | +1.4% | +6.2% | +9.0% | +10.9% | +10.6% | +11.5% | +11.4% |
| Depreciation | 20.34 | 18.38 | 17.21 | 10.96 | 11.03 | 10.66 | 10.21 | 9.77 |
| Interest | 8.21 | 10.07 | 6.64 | 2.17 | 1.66 | 2.53 | 2.05 | 2.14 |
| Profit before tax | 15.37 | 27.33 | 32.13 | 64.12 | 63.04 | 85.24 | 72.93 | 67.65 |
| Tax | 3.97 | 7.76 | 8.07 | 16.25 | 16.16 | 20.66 | 19.60 | 16.91 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 2,679 | 2,540 | 2,180 | 1,892 | 1,509 | 1,402 | 1,407 |
| Revenue growth | +5.5% | +16.5% | +15.2% | +25.4% | +7.7% | -0.4% | - |
| Other income | 94.95 | 51.15 | 47.04 | 45.01 | 46.13 | 36.78 | 48.54 |
| Total expenses | 2,506 | 2,252 | 1,910 | 1,652 | 1,310 | 1,205 | 1,283 |
| Employee cost | 332 | 275 | 242 | 196 | 164 | 141 | 149 |
| EBITDA | 173 | 288 | 270 | 240 | 199 | 197 | 124 |
| EBITDA margin | +6.4% | +11.3% | +12.4% | +12.7% | +13.2% | +14.1% | +8.8% |
| Depreciation | 57.58 | 39.99 | 32.95 | 28.13 | 26.78 | 26.14 | 22.05 |
| Interest | 23.36 | 11.28 | 9.72 | 11.48 | 9.86 | 11.76 | 16.09 |
| Profit before tax | 187 | 288 | 274 | 246 | 209 | 196 | 134 |
| Tax | 48.24 | 73.53 | 70.25 | 60.66 | 54.53 | 49.90 | 35.06 |
| Net profit | 148 | 214 | 204 | 185 | 154 | 146 | 99.19 |
| Net profit margin | +5.5% | +8.4% | +9.4% | +9.8% | +10.2% | +10.4% | +7.1% |
| EPS (₹) | 9.43 | 14.62 | 13.92 | 126.23 | 105.14 | 99.53 | 67.58 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 14.67 | 14.67 | 14.67 | 14.67 | 14.67 | 14.67 | 14.67 |
| Reserves & surplus | 1,375 | 1,256 | 1,060 | 872 | 781 | 640 | 495 |
| Shareholders' funds (net worth) | 1,390 | 1,270 | 1,074 | 887 | 767 | 627 | 482 |
| Secured loans | 384 | 227 | 47.23 | 42.77 | 21.50 | 23.21 | 76.86 |
| Unsecured loans | 25.65 | 17.12 | 12.01 | 6.54 | 16.43 | 17.93 | 22.87 |
| Total debt | 410 | 244 | 59.24 | 49.31 | 37.93 | 41.14 | 99.73 |
| Total liabilities | 1,838 | 1,545 | 1,171 | 966 | 831 | 691 | 605 |
| Assets | |||||||
| Gross block | 887 | 487 | 425 | 336 | 281 | 254 | 231 |
| Net block | 637 | 290 | 263 | 204 | 177 | 174 | 177 |
| Capital work in progress | 175 | 322 | 60.73 | 41.95 | 20.04 | 14.60 | 11.51 |
| Investments | 87.48 | 85.95 | 84.77 | 59.41 | 64.28 | 62.71 | 62.15 |
| Inventories | 386 | 241 | 189 | 186 | 146 | 102 | 118 |
| Sundry debtors | 1,073 | 1,099 | 922 | 697 | 509 | 453 | 514 |
| Cash & bank balances | 271 | 424 | 535 | 517 | 513 | 487 | 354 |
| Loans & advances | 512 | 303 | 213 | 183 | 181 | 151 | 150 |
| Total current assets | 2,241 | 2,067 | 1,859 | 1,583 | 1,349 | 1,193 | 1,135 |
| Total current liabilities | 1,422 | 1,346 | 1,160 | 968 | 836 | 804 | 832 |
| Net working capital | 819 | 721 | 699 | 615 | 513 | 389 | 304 |
| Total assets | 1,838 | 1,545 | 1,171 | 966 | 831 | 691 | 605 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 116 | 110 | 159 | 154 | 181 | 84.61 | 36.00 |
| Net cash from operating activities | (55.73) | 26.18 | 124 | 54.68 | 75.14 | 192 | 64.73 |
| Net cash from investing activities | (30.15) | (169) | (161) | (22.78) | (81.17) | (25.49) | 6.55 |
| Net cash from financing activities | 111 | 148 | (11.76) | (26.98) | (21.71) | (69.52) | (22.66) |
| Net change in cash | 25.32 | 5.43 | (48.23) | 4.92 | (27.73) | 96.68 | 48.61 |
| Closing cash | 271 | 424 | 535 | 517 | 513 | 487 | 354 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 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 / equity | 0.25 | 0.13 | 0.06 | 0.05 | 0.06 | 0.13 | 0.22 |
| Long-term debt / equity | 0.20 | 0.11 | 0.04 | 0.02 | 0.02 | 0.04 | 0.06 |
| Interest cover | 20.30 | 4.55 | 4.10 | 5.41 | 5.72 | 6.88 | 15.82 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 3.90 | 5.57 | 5.72 | 6.13 | 5.64 | 5.78 | 6.78 |
| Inventory turnover | 8.55 | 11.82 | 11.65 | 11.41 | 12.14 | 12.72 | 12.39 |
| Debtors turnover | 2.47 | 2.51 | 2.69 | 3.14 | 3.14 | 2.90 | 2.99 |
| EPS (₹) | 9.43 | 14.62 | 13.92 | 126.23 | 105.14 | 99.53 | 67.58 |
| Dividend per share (₹) | 1.25 | 1.50 | 1.50 | 12.50 | 10.00 | 10.00 | 6.00 |
| Book value per share (₹) | 94.75 | 86.61 | 73.25 | 604.43 | 542.41 | 446.66 | 347.44 |
Board of Directors of Ion Exchange (India) Limited
Ion Exchange (India) has 10 current directors and 12 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Rajesh Chandrabhan Sharma Also directs: Ion Exchange Projects and Engineering Limited, Ion Exchange Enviro Farms Limited, Aqua Investments (India) Limited and 4 more | Whole-Time Director | 26 Mar 1996 | 30 Years 6 Months | Current |
| Aankur Patni Also directs: Rockmen Merchants Ltd, Aquanomics Systems Limited, Ion Exchange Projects and Engineering Limited and 1 more | Director | 24 Jan 2006 | 20 Years 8 Months | Current |
| Dinesh Sharma | Director | 24 Jan 2006 | 20 Years 8 Months | Current |
| Mahabir Prasad Patni | Director | 28 Sep 2001 | 25 Years 0 Months | Current |
| David Paul Rasquinha Also directs: Aquanomics Systems Limited, Ion Exchange Projects and Engineering Limited, Ajanta Pharma Limited and 2 more | Director | 02 Aug 2022 | 4 Years 2 Months | Current |
| Padmanabhan Gopalaraman | Director | 02 Aug 2024 | 2 Years 2 Months | Current |
Auditor Details
Ion Exchange (India) Limited is audited by BSR & Co LLP for the financial year 2023.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| BSR & Co LLP | Locked | Locked | Locked |
: available in the company report
Shareholding Pattern
Shareholding for the quarter ended Sep 2026: promoters hold 25.40%, foreign institutional investors hold 4.90%, domestic institutional investors hold 15.30% and retail and other public shareholders hold 54.40%.
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 25.40% | 25.50% | 25.60% | 25.70% |
| Public | 74.60% | 74.50% | 74.40% | 74.30% |
Charges & Borrowings
| Date | Lender | Amount | Status |
|---|---|---|---|
| 12 Nov 2025 | Others | ₹69.95 Cr | Open |
| 05 Jun 2024 | Others | ₹200 Cr | Open |
| 19 Dec 2023 | Others | ₹345 Cr | Open |
| 10 Aug 2023 | Others | ₹100 Cr | Open |
| 23 Jun 2023 | Canara Bank | ₹100 Cr | Open |
Total charge records: 64 View all charges
Deals & Funding
Ion Exchange (India) Limited has 31 deals on record (27 market trades, 3 secondary share transfers, 1 funding round), with disclosed funding of ₹48.3 Lakh; the latest was in September 2024.
Deals on record (5 of 31)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Sep 2024 | Market trade | ₹53.75 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Jun 2024 | Secondary share transfer | Undisclosed | Buyer: Nippon India Mutual Fund |
| Nov 2021 | Market trade | ₹16.65 Cr | Seller: Plutus Wealth Management LLP |
| Mar 2021 | Market trade | ₹138.87 Cr | Buyer: Plutus Wealth Management LLP , an individual Seller: Rare Investments, 2 individuals |
| Nov 2006 | Market trade | ₹2.16 Cr | Buyer: JMP Securities Private Limited Seller: JMP Securities Private Limited |
: available in the company report
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases
Ion Exchange (India) Limited has 418 court cases on record: 236 filed by Ion Exchange (India), 183 filed against it. 88 cases are pending and 330 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 232 | 98 | 46 |
| District courts | 171 | 80 | 42 |
| Supreme Court | 13 | 5 | 0 |
| NCLT | 1 | 0 | 0 |
| NCLAT | 1 | 0 | 0 |
Cases on record (5 of 418)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Hyderabad CCC, Telangana | Court case (COS) | Filed by the company against M S Mega Wide Infrastructure India Pvt Ltd Rep by Its Authorised Signatory | Pending |
| Madras High Court | Arbitration matter | Filed by the company against VGN Infra India Pvt. Ltd., | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Interim or miscellaneous application | Filed against the company by Ionz Digital Private Limited Through Its Representative Mr Siddharth Negandhi | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Court case (Summons For Judgement) | Filed against the company by Ionz Digital Private Limited Through Its Representative Mr Siddharth Negandhi | Pending |
| High Court, MAHARASHTRA | Court case (COMMP) | Filed by the company against Rochem Separation Systems India Private Limited and 1 other | Pending |
: available in the company report
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME Payment Delays
Ion Exchange (India) Limited has 24 MSME Form 1 returns on record between 2017 and 2024, listing 6,285 overdue payments to 417 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 417)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | •••• | •••• | •••• |
| SNMR Fab India Private Limited | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
: available in the company report
Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Employees and EPFO Compliance
Ion Exchange (India) Limited has a workforce of 2,253 employees as of Apr 05, 2024.
: available in the company report
Group Structure
Ion Exchange (India) has 8 subsidiary companies and 2 associated companies. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares Held |
|---|---|---|
| Ion Exchange Enviro Farms Limited | U01110MH1995PLC091478 | - |
| Global Composites And Structurals Limited | U26102MH2006PLC161108 | - |
| Ion Exchange Purified Drinking Water Private Limited | U41000MH2013PTC248560 | - |
| Ion Exchange Environment Management Limited | U45204MH2005PLC157554 | - |
| Aqua Investments (India) Limited | U65990MH1994PLC080386 | - |
| Watercare Investments (India) Limited | U67120MH1994PLC080385 | - |
Showing major subsidiaries. Total: 8.
Recent Activity
Ion Exchange (India) Limited has 32 board changes on record since 1984: 21 appointments and 11 cessations. The latest: Indraneel Dutt was appointed as Managing Director on 01 Oct 2024.
150 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts
: available in the company report
Subsidiaries & Group Companies
: available in the company report
GST Compliance
Ion Exchange (India) has 28 GST registrations: 24 active and 4 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACI1726L1ZK | Maharashtra | Active | 01 Jul 2017 |
| 27AAACI1726L2ZJ | Maharashtra | Active | 01 Sep 2017 |
| 03AAACI1726L1ZU | Punjab | Active | 01 Jul 2017 |
| 06AAACI1726L1ZO | Haryana | Active | 01 Jul 2017 |
: available in the company report
MCA Filings & Documents
: available in the company report
Related news
Frequently Asked Questions
Ion Exchange (India) is an active public limited company based in Mumbai, Maharashtra, India. The company works in the engineering industry. It was incorporated on 06 March 1964 (62+ years old) and is registered under CIN L74999MH1964PLC014258. Listed on BSE: 500214 and NSE: IONEXCHANG.
Ion Exchange (India) reported revenue of ₹2,914.84 Cr for FY 2025-26 (up 6.5% YoY) based on consolidated financials.
Ion Exchange (India) has 10 current directors:
- Indraneel Dutt - Managing Director
- Rajesh Chandrabhan Sharma - Whole-Time Director
- Aankur Patni - Director
- Dinesh Sharma - Director
- Mahabir Prasad Patni - Director
- David Paul Rasquinha - Director
- Padmanabhan Gopalaraman - Director
- Alka Arora Misra - Director
- Amitava Guharoy - Director
- Sanjay Vithalrao Joshi - Director
The latest financial statements of Ion Exchange (India) on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 09 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Ion Exchange (India) is 27AAACI1726L1ZK, registered in Maharashtra. The company has 28 GST registrations in all, of which 24 are active and 4 are cancelled or inactive. Other active GSTINs include 27AAACI1726L2ZJ (Maharashtra), 03AAACI1726L1ZU (Punjab), 06AAACI1726L1ZO (Haryana).
The CIN (Corporate Identification Number) of Ion Exchange (India) is L74999MH1964PLC014258. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Ion Exchange (India) is listed on both BSE (code: 500214) and NSE (symbol: IONEXCHANG).
Ion Exchange (India) has 418 court cases on record: 236 filed by the company and 183 filed against it. 88 are pending. Most are in the high courts.
Ion Exchange (India) was incorporated on 06 March 1964, making it 62+ years old. It is registered with the Registrar of Companies, Mumbai.
Ion Exchange (India) has 31 deals on record (27 market trades, 3 secondary share transfers, 1 funding round), with disclosed funding of ₹48.3 Lakh; the latest was in September 2024.
Indraneel Dutt was appointed as Managing Director on 01 Oct 2024. Abhiram Seth ceased to be Director on 11 Sep 2024. Kishori Jayendra Udeshi ceased to be Director on 11 Sep 2024. Ion Exchange (India) has 32 board changes on record in total.