Ion Exchange (India) Ltd. · NSE:IONEXCHANG
Ion Exchange (India) — Q2 FY2027 Earnings Presentation
36 slides from Ion Exchange (India)'s earnings presentation, Nov 5, 2026
Slide 1: Submission of Earnings Presentation cover letter to exchanges
November 5, 2026 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 Sub.: Submission of Earnings Pre
Slide 2: Earnings Presentation Q2/H1-FY27
Earnings Presentation Q2/H1-FY27 1
Slide 3: Company Snapshot
Company Snapshot 62 + OPERATIONS IN 360° TOTAL WATER & YEARS OF 50 + ENVIRONMENT MANAGEMENT EXPERTISE COUNTRIES SERVING WORLD CLASS ONE OF ASIA’S EXPORTS INDUSTRIES, MANUFACTURING LARGEST SERVICE ACROSS INSTITUTIONS, FACILITIES NETWORKS CONTINENTS HOMES & COMMUNITIES GLOBAL ASSEMBLY HUBS IN ADVANCED
Slide 4: Total Water & Environment Management Solutions
Total Water & Environment Management Solutions Management of Specialty Resins / Adsorbents / Industrial Wastewater Treatment Process Water Membranes / Chemicals / Enzymes for Recycle & Zero Liquid Discharge Purification & Concentration Drinking Water Treatment Process Water Treatment – Ion Exchange
Slide 5: Capabilities
Capabilities Leaders in Resins, Membranes & Chemicals, with a Unique End-to-End Portfolio Spanning Solutions, Digital & Services RESINS MEMBRANES CHEMICALS SOLUTIONS SERVICES DIGITAL 1 2 3 4 5 6 7 8 SOURCE WATER & PROCESS WATER HIGH PURITY ULTRA PURE INDUSTRIAL WASTEWATER ZERO LIQUID MUNICIPAL & SEW
Slide 6: Global Presence
Global Presence 50+ COUNTRIES SERVED 30% INTERNATIONAL REVENUE SHARE 14 GLOBAL MANUFACTURING FACILITIES & ASSEMBLY CENTRES 200,000+ GLOBAL INSTALLATIONS Our Global Offices 5
Slide 7: Global Manufacturing Facilities
Global Manufacturing Facilities Ankleshwar, Gujarat Roha, Maharashtra Verna, Goa Resins Manufacturing - Exports Non-Solvent Resins Centre of Membrane Excellence Patancheru, Telangana Saudi Arabia Portugal Chemicals Manufacturing Chemical Blending Facility MAPRIL, Manufacturing Facility 6
Slide 8: Global Manufacturing Facilities
Global Manufacturing Facilities Hosur, Tamil Nadu Verna, Goa Wada, Maharashtra Palaspe, Maharashtra Standard Systems Assembly Standard Membrane Systems Standard Systems Assembly Large System Assembly UAE South Africa Indonesia Bangladesh Assembly Unit, ICV Certified Facility Manufacturing Facility A
Slide 9: Current vs New Reporting Segments
Current vs New Reporting Segments Ion Exchange (India) Ltd. Current Reporting Engineering Chemicals Consumer Products New Reporting Institutional Treatment Industrial Lifecycle Specialty Consumer Solutions Products Services Chemicals Products 8
Slide 10: New Reporting Segments
New Reporting Segments TREATMENT INDUSTRIAL LIFECYCLE SPECIALTY CONSUMER SOLUTIONS PRODUCTS SERVICES CHEMICALS PRODUCTS 1 2 3 4 5 ▪ Water Treatment ▪ Standard Water ▪ Operations & ▪ Water Treatment ▪ Home Water Solutions ▪ Ultra Pure Water Treatment Solutions Maintenance (O&M) Chemicals ▪ Community
Slide 11: Financial Overview Q2/H1-FY27
Financial Overview Q2/H1-FY27 10
Slide 12: Q2-FY27 Financial Highlights
Q2-FY27 Financial Highlights Q2-FY27 Performance (Standalone) Q2-FY27 Performance (Consolidated) INR 6,157 Mn INR (773) Mn (12.55) % INR 6,747 Mn INR (848) Mn (12.57) % Operating EBITDA Operating EBITDA Operating EBITDA Operating Income Operating EBITDA Operating Income Margins Margins INR (5.804)/
Slide 13: H1-FY27 Financial Highlights
H1-FY27 Financial Highlights H1-FY27 Performance (Standalone) H1-FY27 Performance (Consolidated) INR 12,513 Mn INR (467) Mn (3.73) % INR 13,752 Mn INR (530) Mn (3.85) % Operating EBITDA Operating EBITDA Operating EBITDA Operating Income Operating EBITDA Operating Income Margins Margins INR (600) Mn
Slide 14: Quarterly/Half Yearly Segmental Breakup: Treatment Solutions
Quarterly/Half Yearly Segmental Breakup Treatment Solutions Standalone Consolidated 2,901 INR Mn 2,958 1,430 1,498 72 (122) (1,139) (1,215) Q2-FY26 Revenue EBIT Q2-FY27 Q2-FY26 Revenue EBIT Q2-FY27 4,797 INR Mn 4,633 3,597 3,440 46 256 Revenue EBIT (1,389) (1,321) H1-FY26 H1-FY27 H1-FY26 H1-FY27 Rev
Slide 15: Quarterly/Half Yearly Segmental Breakup: Industrial Products
Quarterly/Half Yearly Segmental Breakup Industrial Products Standalone Consolidated INR Mn 1,342 1,360 1,009 974 74 86 102 111 Q2-FY26 Q2-FY27 Q2-FY26 Revenue EBIT Q2-FY27 Revenue EBIT INR Mn 2,397 2,411 1,858 1,931 148 247 210 124 H1-FY26 H1-FY27 H1-FY26 H1-FY27 Revenue EBIT Revenue EBIT 14
Slide 16: Quarterly/Half Yearly Segmental Breakup: Lifecycle Services
Quarterly/Half Yearly Segmental Breakup Lifecycle Services Standalone Consolidated INR Mn 659 611 770 706 231 60 59 31 Revenue EBIT Q2-FY26 Q2-FY27 Q2-FY26 Q2-FY27 Revenue EBIT INR Mn 1,197 1,329 1,422 1,127 122 289 71 130 H1-FY26 H1-FY27 H1-FY26 H1-FY27 Revenue EBIT Revenue EBIT 15
Slide 17: Quarterly/Half Yearly Segmental Breakup: Specialty Chemicals
Quarterly/Half Yearly Segmental Breakup Specialty Chemicals Standalone Consolidated 2,546 INR Mn 2,138 2,181 1,827 537 629 233 225 Q2-FY26 Q2-FY27 Q2-FY26 Q2-FY27 Revenue EBIT Revenue EBIT 3,999 4,843 INR Mn 3,297 4,070 948 1,091 480 448 H1-FY26 H1-FY27 H1-FY26 H1-FY27 Revenue EBIT Revenue EBIT 16
Slide 18: Quarterly/Half Yearly Segmental Breakup: Consumer Products
Quarterly/Half Yearly Segmental Breakup Consumer Products Standalone Consolidated INR Mn 1,005 1,005 771 771 (24) (43) (23) (41) Q2-FY26 Q2-FY27 Q2-FY26 Q2-FY27 Revenue EBIT Revenue EBIT 2,129 2,129 INR Mn 1,613 1,613 (29) (47) (27) (45) H1-FY26 H1-FY27 H1-FY26 H1-FY27 Revenue EBIT Revenue EBIT 17
Slide 19: Q2/H1-FY27 Operational Highlights
Q2/H1-FY27 Operational Highlights Treatment Solutions: ▪ Change in the estimated cost to complete a few legacy projects in the Treatment Solutions segment has significantly impacted the Company financials for this quarter. ▪ Turnover for Treatment solutions was impacted by the execution of certain h
Slide 20: Future Growth Drivers
Future Growth Drivers Treatment Solutions: ▪ In Treatment solutions segment, a strong order backlog and planned execution schedules are expected to drive an improvement in H2 turnover, accompanied by a better margin profile. Industrial Products: ▪ Healthy order inflows are expected to sustain the In
Slide 21: Quarterly Consolidated Financial Performance
Quarterly Consolidated Financial Performance INCOME STATEMENT (INR Mn) Q2-FY27 Q2-FY26 Y-o-Y Q1-FY27 Q-o-Q Operating Income 6,747 7,339 (8.1)% 7,005 (3.7)% Expenses 7,595 6,654 14.1% 6,687 13.6% Operating EBITDA (848) 685 NA 318 NA Operating EBITDA Margins (%) (12.57)% 9.33% NA 4.54% NA Depreciation
Slide 22: Quarterly Standalone Financial Performance
Quarterly Standalone Financial Performance INCOME STATEMENT (INR Mn) Q2-FY27 Q2-FY26 Y-o-Y Q1-FY27 Q-o-Q Operating Income 6,157 6,782 (9.2)% 6,356 (3.1)% Expenses 6,930 6,174 12.2% 6,049 14.6% Operating EBITDA (773) 608 NA 307 NA Operating EBITDA Margins (%) (12.55)% 8.96% NA 4.83% NA Depreciation 2
Slide 23: Half-Yearly Consolidated Financial Performance
Half-Yearly Consolidated Financial Performance INCOME STATEMENT (INR Mn) H1-FY27 H1-FY26 Y-o-Y Operating Income 13,752 13,171 4.4% Expenses 14,282 11,861 20.4% Operating EBITDA (530) 1,310 NA Operating EBITDA Margins (%) (3.85)% 9.95% NA Depreciation 438 244 79.5% Finance Cost 184 56 NA Other Income
Slide 24: Half-Yearly Standalone Financial Performance
Half-Yearly Standalone Financial Performance INCOME STATEMENT (INR Mn) H1-FY27 H1-FY26 Y-o-Y Operating Income 12,513 11,961 4.6% Expenses 12,980 10,791 20.3% Operating EBITDA (467) 1,170 NA Operating EBITDA Margins (%) (3.73)% 9.78% NA Depreciation 409 220 85.9% Finance Cost 168 38 NA Other Income 2
Slide 25: Historical Financial Overview
Historical Financial Overview 24
Slide 26: Historical Standalone Financial Performance
Historical Standalone Financial Performance INCOME STATEMENT (INR Mn) FY23 FY24 FY25 FY26 H1-FY27 Operating Income 18,923 21,800 25,401 26,789 12,513 Expenses 16,544 19,129 22,549 24,946 12,980 Operating EBITDA 2,379 2,671 2,852 1,843 (467) Operating EBITDA Margins (%) 12.57% 12.25% 11.23% 6.88% (3.
Slide 27: Historical Standalone Balance Sheet
Historical Standalone Balance Sheet PARTICULARS (INR Mn) FY25 FY26 H1-FY27 PARTICULARS (INR Mn) FY25 FY26 H1-FY27 EQUITIES & LIABILITIES ASSETS Non-Current Assets Equity (A) Property, Plant and Equipment 2,414 5,851 5,657 (A) Equity Share Capital 147 147 147 (B) Capital Work-in-progress 3,170 1,747
Slide 28: Historical Consolidated Financial Performance
Historical Consolidated Financial Performance INCOME STATEMENT (INR Mn) FY23 FY24 FY25 FY26 H1-FY27 Operating Income 19,896 23,479 27,371 29,148 13,752 Expenses 17,346 20,759 24,432 27,046 14,282 Operating EBITDA 2,550 2,720 2,939 2,102 (530) Operating EBITDA Margins (%) 12.82% 11.58% 10.74% 7.21% (
Slide 29: Historical Consolidated Balance Sheet
Historical Consolidated Balance Sheet PARTICULARS (INR Mn) FY25 FY26 H1-FY27 PARTICULARS (INR Mn) FY25 FY26 H1-FY27 EQUITIES & LIABILITIES ASSETS Equity Non-Current Assets (A) Equity Share Capital 142 142 142 (A) Property, Plant and Equipment 3,280 6,853 6,644 (B) Other Equity 11,937 13,248 12,336 (
Slide 30: Consolidated Historical Financial Performance
Consolidated Historical Financial Performance Revenues (INR Mn) Operating EBITDA (INR Mn) 2,939 29,148 2,720 2,550 27,371 2,102 23,479 19,896 12.82% 11.58% 10.74% 13,752 7.21% FY23 FY24 FY25 FY26 H1-FY27 (530) (3.85)% FY23 FY24 FY25 FY26 H1-FY27 EBITDA EBITDA Margins 29
Slide 31: Consolidated Historical Financial Performance
Consolidated Historical Financial Performance PAT (INR Mn) Net Debt / Equity 2,083 1,950 1,954 1,432 FY23 FY24 FY25 FY26 H1-FY27 0.1 0.1 9.80% 8.32% 7.61% 4.91% (0.1) FY23 FY24 FY25 FY26 H1-FY27 (5.80)% (0.4) (797) (0.6) PAT PAT Margins 30
Slide 32: Consolidated Historical Financial Performance: Return Ratios
Consolidated Historical Financial Performance Return Ratios Summary 30.0% 26.9% ▪ Roha Plant Capex impact 22.0% ▪ West Asia crisis impacted gross working capital 23.3% 21.1% 18.7% 14.3% ▪ Reduced Profitability 11.2% Future Actions FY23 FY24 FY25 FY26 ▪ Higher share of Industrial Products, Life cycle
Slide 33: Consolidated Historical Financial Performance: Working Capital Days
Consolidated Historical Financial Performance Working Capital Days Summary 99 91 94 91 ▪ High proportion in Treatment Solution segment ▪ Impact of West Asia crisis in FY 26 Future Actions ▪ Increased business from Industrial Products, Lifecycle Services and Specialty Chemicals ▪ Increased share of I
Slide 34: Market Data (Bloomberg – ION IN, Reuters – IONX.BO)
Market Data (Bloomberg – ION IN, Reuters – IONX.BO) 1 Y E A R S H A R E P R I C E M O V E M E N T ( U P T O 3 0 th S e p t e m b e r 2 0 2 6 ) 20% 15% 10% 5% 0% -5% -10% -15% -20% -25% Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26 Aug-26 Sep-26 Ion Exchange Sensex P R I C E D
Slide 35: 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 36: www.ionexchangeglobal.com
www.ionexchangeglobal.com www.ionexchangeglobal.com
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