Ion Exchange (india) Ltd. · NSE:IONEXCHANG
Ion Exchange (india) — Q2 FY26 Earnings Presentation
25 slides from Ion Exchange (india)'s earnings presentation, Nov 6, 2025
Slide 1: Covering letter to stock exchanges
November 6, 2025 To BSE Limited National Stock Exchange of India Limited The Corporate Relationship Dept. Exchange Plaza, C-1, Block- G, P.J. Towers, Dalal Street Bandra Kurla Complex, Bandra (East), Mumbai-400 001 Mumbai-400 051 Scrip Code: 500214 Symbol: IONEXCHANG Dear Sir/ Madam, Sub: Submission
Slide 2: Earnings Presentation – Q2/H1-FY26
EARNINGS PRESENTATION – Q2/H1-FY26
Slide 3: Executive Summary
Executive Summary • Ion Exchange (India) Ltd (Ion Exchange), formed in 1964, is a pioneer in water, wastewater treatment & environment solutions and caters to various industries, institutions, homes & communities. • Headquartered in Mumbai, the company has 7 manufacturing and assembly facilities acr
Slide 4: Company Overview
Company Overview • Ion Exchange was originally formed as a subsidiary of Permutit, UK in 1964. It became a wholly owned FY25 CONSOLIDATED REVENUE BREAKUP* Indian company in 1985. • The company has a global presence with diverse product portfolio, offering comprehensive water and Chemicals non-water
Slide 5: Q2/H1-FY26 Financial Highlights
Q2/H1-FY26 Financial Highlights Q2-FY26 Performance (Standalone) Q2-FY26 Performance (Consolidated) INR 6,782 Mn INR 608 Mn 8.96% 9.33% INR 7,339 Mn INR 685 Mn Operating Income Operating EBITDA Operating EBITDA Operating EBITDA Operating Income Operating EBITDA Margins Margins INR 479 Mn 7.06% INR 3
Slide 6: Q2-FY26 Operational Highlights (1/2)
Q2-FY26 Operational Highlights (1/2) The Company’s operations were normalised in the 2nd quarter with the completion of the migration to SAP environment. ENGINEERING • The enquiry bank is steady. There has been a sequential increase in order flow during the quarter, driven primarily by medium-sized
Slide 7: Q2-FY26 Operational Highlights (2/2)
Q2-FY26 Operational Highlights (2/2) CHEMICALS • The company recorded sequential and year-on-year improvement in turnover. • The segment has maintained its margin profile. • The company commenced the stage-wise commissioning and commercialization of its greenfield resin manufacturing plant at Roha,
Slide 8: Financial Overview
FINANCIAL OVERVIEW,
Slide 9: Quarterly Standalone Financial Performance
Quarterly Standalone Financial Performance INCOME STATEMENT (INR Mn) Q2-FY26 Q2-FY25 Y-o-Y Q1-FY26 Q-o-Q Operating Income 6,782 5,889 15.2% 5,178 31.0% Expenses 6,174 5,219 18.3% 4,616 33.8% Operating EBITDA 608 670 (9.3)% 562 8.2% Operating EBITDA Margins (%) 8.96% 11.38% (242) Bps 10.85% (189) Bps
Slide 10: Quarterly Standalone Segmental Breakup
Quarterly Standalone Segmental Breakup ENGINEERING (INR Mn) CHEMICALS (INR Mn) CONSUMER PRODUCTS (INR Mn) 4,362 R 3,692 E 1,670 1,827 V 858 E 691 N U E Q2-FY25 Q2-FY26 Q2-FY25 Q2-FY26 Q2-FY25 Q2-FY26 537 Q2-FY25 Q2-FY26 484 E B 232 209 I T (28) Q2-FY25 Q2-FY26 Q2-FY25 Q2-FY26 (35) 9
Slide 11: Half Yearly Standalone Financial Performance
Half Yearly Standalone Financial Performance INCOME STATEMENT (INR Mn) H1-FY26 H1-FY25 Y-o-Y Operating Income 11,961 11,050 8.2% Expenses 10,791 9,774 10.4% Operating EBITDA 1,170 1,276 (8.3)% Operating EBITDA Margins (%) 9.78% 11.55% (177) Bps Depreciation 220 191 15.2% Finance Cost 38 38 NA Other
Slide 12: Half Yearly Standalone Segmental Breakup
Half Yearly Standalone Segmental Breakup ENGINEERING (INR Mn) CHEMICALS (INR Mn) CONSUMER PRODUCTS (INR Mn) 7,307 1,760 6,836 3,297 R 1,351 E V E 3,239 N U E H1-FY25 H1-FY26 H1-FY25 H1-FY26 H1-FY25 H1-FY26 948 H1-FY25 H1-FY26 456 484 E B 914 I T (38) H1-FY25 H1-FY26 H1-FY25 H1-FY26 (70) 11
Slide 13: Quarterly Consolidated Financial Performance
Quarterly Consolidated Financial Performance INCOME STATEMENT (INR Mn) Q2-FY26 Q2-FY25 Y-o-Y Q1-FY26 Q-o-Q Operating Income 7,339 6,445 13.9% 5,832 25.8% Expenses 6,654 5,763 15.5% 5,205 27.8% Operating EBITDA 685 682 0.4% 627 9.3% Operating EBITDA Margins (%) 9.33% 10.58% (125) Bps 10.75% (142) Bps
Slide 14: Quarterly Consolidated Segmental Breakup
Quarterly Consolidated Segmental Breakup ENGINEERING (INR Mn) CHEMICALS (INR Mn) CONSUMER PRODUCTS (INR Mn) 4,562 R 3,949 1,968 2,184 858 E V 691 E N U E Q2-FY25 Q2-FY26 Q2-FY25 Q2-FY26 Q2-FY25 Q2-FY26 591 Q2-FY25 Q2-FY26 522 E B 235 224 I T (27) Q2-FY25 Q2-FY26 Q2-FY25 Q2-FY26 (35) 13
Slide 15: Half Yearly Consolidated Financial Performance
Half Yearly Consolidated Financial Performance INCOME STATEMENT (INR Mn) H1-FY26 H1-FY25 Y-o-Y Operating Income 13,171 12,120 8.7% Expenses 11,861 10,794 9.9% Operating EBITDA 1310 1,326 (1.2)% Operating EBITDA Margins (%) 9.95% 10.94% (99) Bps Depreciation 244 213 14.6% Finance Cost 56 66 (15.2)% O
Slide 16: Half Yearly Consolidated Segmental Breakup
Half Yearly Consolidated Segmental Breakup ENGINEERING (INR Mn) CHEMICALS (INR Mn) CONSUMER PRODUCTS (INR Mn) 1,760 7,742 4,073 R 7,184 1,351 E V E 3,962 N U E H1-FY25 H1-FY26 H1-FY25 H1-FY26 H1-FY25 H1-FY26 1,058 H1-FY25 H1-FY26 501 E 423 B 1,020 I T (36) H1-FY25 H1-FY26 H1-FY25 H1-FY26 (69) 15
Slide 17: Historical Financial Overview
HISTORICAL FINANCIAL OVERVIEW
Slide 18: Historical Standalone Financial Performance
Historical Standalone Financial Performance INCOME STATEMENT (INR Mn) FY22 FY23 FY24 FY25 H1-FY26 Operating Income 15,094 18,923 21,800 25,401 11,961 Expenses 13,123 16,544 19,129 22,549 10,791 Operating EBITDA 1,971 2,379 2,671 2,852 1,170 Operating EBITDA Margins (%) 13.06% 12.57% 12.25% 11.23% 9.
Slide 19: Historical Standalone Balance Sheet
Historical Standalone Balance Sheet PARTICULARS (INR Mn) FY24 FY25 H1-FY26 PARTICULARS (INR Mn) FY24 FY25 H1-FY26 EQUITIES & LIABILITIES ASSETS Equity Non-Current Assets (A) Property, Plant and Equipment 2,149 2,414 4,809 (A) Equity Share Capital 147 147 147 (B) Capital Work-in-progress 607 3,170 2,
Slide 20: Historical Consolidated Financial Performance
Historical Consolidated Financial Performance INCOME STATEMENT (INR Mn) FY22 FY23 FY24 FY25 H1-FY26 Operating Income 15,769 19,896 23,479 27,371 13,171 Expenses 13,637 17,346 20,759 24,432 11,861 Operating EBITDA 2,132 2,550 2,720 2,939 1,310 Operating EBITDA Margins (%) 13.52% 12.82% 11.58% 10.74%
Slide 21: Historical Consolidated Balance Sheet
Historical Consolidated Balance Sheet PARTICULARS (INR Mn) FY24 FY25 H1-FY26 PARTICULARS (INR Mn) FY24 FY25 H1-FY26 ASSETS EQUITIES & LIABILITIES Non-Current Assets Equity (A) Property, Plant and Equipment 3,018 3,280 5,770 (A) Equity Share Capital 142 142 142 (B) Capital Work-in-progress 607 3,178
Slide 22: Consolidated Financial Performance
Consolidated Financial Performance REVENUES (INR Mn) OPERATING EBITDA (INR Mn) PAT (INR Mn) 27,371 2,939 2,720 2,083 23,479 2,550 1,950 1,954 19,896 2,132 1,617 15,769 13,171 1,310 984 13.52% 12.82% 10.25% 9.80% 11.58% 10.74% 9.95% 8.32% 7.61% 7.47% FY22 FY23 FY24 FY25 H1-FY26 FY22 FY23 FY24 FY25 H1
Slide 23: Market Data
Market Data (Bloomberg – ION IN, Reuters – IONX.BO) 1 YEAR SHARE PRICE MOVEMENT (UP TO 30th September 2025) 20% 10% 0% -10% -20% -30% -40% Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Ion Exchange Sensex PRICE DATA (As on 30th September 2025) SHAREHOLDING PATTE
Slide 24: Disclaimer
Disclaimer Ion Exchange (India) Limited No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all e
Slide 25: Thank You
THANK YOU