Ion Exchange (India) financials

Latest results Q1 FY27 · Apr–Jun 2026
Revenue
₹700cr+20.1% on Q1 FY26
Net profit
₹3.1cr−93.7% on Q1 FY26
EBITDA margin
4.5%−6.2 pts on Q1 FY26
EPS
₹0.35−91.5% on Q1 FY26

Quarterly results

Every quarter ›
₹ croreQ1 FY27Q1 FY26Change
Revenue700583+20.1%
EBITDA31.762.5−49.2%
EBITDA margin4.5%10.7%−6.2 pts
Profit before tax7.065.5−89.3%
Net profit3.148.4−93.7%
EPS₹0.35₹4.11−91.5%

Over time

Q1 FY27 · Apr–Jun 2026latest
Revenue₹700 crNet profit₹3.1 crNet margin0.4%

Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.

Key numbersby financial year

₹ crore except per share
Tap a line for its trendCurrentlast 12MFY26Mar 2026FY25Mar 2025FY24Mar 2024FY23Mar 2023FY22 and earlierAlpha Plus
4,881————
FY22 and earlierEvery year the company has filed comes with Alpha Plus.
185185150154176
1.31.31.61.92.3
45445430313852.5
5,151————
3,0322,9152,7372,3481,990
—+6.5%+16.6%+18.0%—
179210294272255
5.9%7.2%10.7%11.6%12.8%
107148249236226
97.8143208195195
3.2%4.9%7.6%8.3%9.8%
₹6.89₹10.03₹14.60₹13.78₹13.83
—−31.3%+6.0%−0.4%—
—−28.532.113062.7
—−254−320−120−59.9
−283−283−2889.62.9
Open the chart

From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

IONEXCHANG₹343.00

Ion Exchange (India) Ltd.

· Energy & Power
₹ CrorePeersTHERMAXKPIGREENGMRP&UIEIELPTCRTNPOWERKARMAENGWABAGMcap ₹4,881 Cr
HighlightsEnterprise ValueMultiplesPer ShareAnnuals · FY-end closes
In ₹ Crore except Per Share
12 Months Ending
FY23
31/03/2023
FY24
31/03/2024
FY25
31/03/2025
FY26
31/03/2026
Current/LTM
TTM · last close
Market Capitalization————4,880.9
- Cash, Equiv & ST Investments175.7154.2149.7185.2185.2
+ Minority Interest2.31.91.61.31.3
+ Total Debt52.5137.6303.0454.4454.4
Enterprise Value————5,151.4
Revenue1,989.62,347.92,737.12,914.83,032.1
Growth %, YoY—+18.0+16.6+6.5—
EBITDA255.0272.0293.8210.2179.4
Margin %12.8211.5810.737.215.92
EBIT225.9235.5249.3147.6107.3
Net Income195.0195.4208.3143.297.8
Margin %9.808.327.614.913.23
EPS, Adj (current shares)13.8313.7814.6010.036.89
Growth %, YoY—-0.4+6.0-31.3—
Cash from Operations62.7129.932.1-28.5—
Capital Expenditures-59.9-120.3-320.4-254.1—
Free Cash Flow2.99.6-288.3-282.6-282.6
Market Cap/EV/multiples pair each (split/bonus-adjusted) FY-end close with the latest filed share count; Current column uses the last close. Market Capitalization is a market-level figure — identical across Consolidated/Standalone (the accounting rows below differ). No consensus estimates → no Est columns. Click any row to chart it.
« ‹ › »Latest: FY26 · ConsolidatedFA Financial Analysis · alphave
Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 95%.

Ion Exchange financials and key ratios

Prices at the 29 October 2026 close · figures from the company's filings with NSE

Ion Exchange (NSE: IONEXCHANG) had a market capitalisation of ₹4,940 crore at the 29 October 2026 close (₹347.15 a share), a PE ratio of 50.4 on the last four quarters' profit and a price-to-book ratio of 3.69. In FY26 its consolidated net profit attributable to shareholders was ₹143 crore on revenue of ₹2,915 crore; in Q1 FY27 (April–June 2026) it was ₹4.1 crore, down 91.6% year on year. Its debt-to-equity ratio was 0.34 on 31 March 2026. Promoters held 25.08% of the shares on 30 September 2026.

Share price used
₹347.15 · 29 October 2026 close
Latest balance sheet
31 March 2026
Shareholding pattern
30 September 2026

Ion Exchange at a glance · consolidated

Market cap
₹4,940 Crat ₹347.15 · 29 Oct close
PE ratio (last 4 quarters)
50.434.6 on FY26 profit
Price to book (PB)
3.69book value ₹94.10 a share
ROE (FY26)
11.2%−7.5 pts vs FY25ROCE 9.0%
Debt to equity
0.34net debt ₹135 Cr
Promoter holding
25.08%−0.4 pts vs 30 Jun 202630 September 2026
Dividend yield
0.36%₹1.25 a share in 12 months
Net worth
₹1,339 Cr+10.9% vs 31 Mar 202531 March 2026
Free cash flow (FY26)
−₹283 Cr

Questions

What is the Ion Exchange PE ratio today?

Ion Exchange's PE ratio is 50.4 at the 29 October 2026 close (₹347.15 a share): a market capitalisation of ₹4,940 crore divided by consolidated net profit attributable to shareholders of ₹98.1 crore over the last four quarters (Q2 FY26 to Q1 FY27). On FY26 net profit attributable to shareholders (₹143 crore) it is 34.6.

What is the Ion Exchange PB ratio (price to book value)?

Ion Exchange's price-to-book (PB) ratio is 3.69 at the 29 October 2026 close: a market capitalisation of ₹4,940 crore divided by shareholders' equity (book value) of ₹1,339 crore on 31 March 2026. That is a book value of ₹94.10 per share against a share price of ₹347.15.

What is the Ion Exchange net worth?

Ion Exchange's net worth — shareholders' equity in its consolidated balance sheet — was ₹1,339 crore on 31 March 2026, up 10.9% from ₹1,208 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹4,940 crore at the 29 October 2026 close.

What is the Ion Exchange market cap?

Ion Exchange's market capitalisation was ₹4,940 crore at the 29 October 2026 close: 14.23 crore shares at ₹347.15 each.

What is the Ion Exchange EPS?

Ion Exchange's basic earnings per share (EPS) were ₹12.03 in FY26, against ₹17.53 in FY25. Over the last four quarters (Q2 FY26 to Q1 FY27) they add up to ₹8.28.

What is the Ion Exchange dividend in 2026 and its record date?

In 2026, Ion Exchange has declared one dividend: ₹1.25 with record date 31 August 2026.

Is Ion Exchange debt free?

No. Ion Exchange had borrowings of ₹454 crore on 31 March 2026 (consolidated balance sheet), a debt-to-equity ratio of 0.34. Its cash and current investments were ₹319 crore, so its net debt was ₹135 crore.

What is the Ion Exchange debt to equity ratio?

Ion Exchange's debt-to-equity ratio was 0.34 on 31 March 2026: borrowings of ₹454 crore against total equity of ₹1,340 crore. A year earlier, on 31 March 2025, it was 0.25.

What is the Ion Exchange book value per share?

Ion Exchange's book value per share was ₹94.10 on 31 March 2026: shareholders' equity of ₹1,339 crore divided by the 14.23 crore shares in issue, up 10.9% from ₹84.88 a year earlier. The share price at the 29 October 2026 close was ₹347.15.

What is the Ion Exchange ROE and ROCE?

In FY26, Ion Exchange's return on equity (ROE) was 11.2% and its return on capital employed (ROCE) was 9.0%. ROE is net profit attributable to shareholders divided by average shareholders' equity (the start and end of the year); ROCE is operating profit (EBIT) divided by average capital employed (total assets less current liabilities). In FY25, ROE was 18.7% and ROCE 18.4%.

What is the Ion Exchange shareholding pattern?

On 30 September 2026, Ion Exchange's shares were held by promoters 25.08%, foreign portfolio investors (FII/FPI) 4.93%, domestic institutions (DII) 15.70% (including mutual funds at 12.86%) and retail and other non-institutional investors 38.11%. Over the year, FII holding was up 0.08 percentage points from 4.85% and DII holding was up 1.41 percentage points from 14.29%.

What are the Ion Exchange latest quarterly results?

Ion Exchange's latest results are for Q1 FY27 (April–June 2026), filed on 5 August 2026: consolidated net profit attributable to shareholders ₹4.1 crore, down 91.6% from ₹48.7 crore in Q1 FY26; revenue from operations ₹700 crore, up 20.1% year on year.

What is the Ion Exchange dividend yield?

Ion Exchange's dividend yield is 0.36% at the 29 October 2026 close: dividends of ₹1.25 a share that went ex-dividend in the 12 months before that day, divided by the share price of ₹347.15. They were ₹1.25 on 31 August 2026.

What is the Ion Exchange promoter holding?

Promoters held 25.08% of Ion Exchange on 30 September 2026, down 0.35 percentage points from 25.43% the previous quarter and down 0.58 percentage points from 25.66% a year earlier, according to the shareholding pattern filed with NSE.

What is the Ion Exchange free cash flow?

In FY26, Ion Exchange generated ₹28.5 crore of cash from operations and spent ₹254 crore on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of −₹283 crore. In FY25 it was −₹288 crore.

What is the Ion Exchange revenue and profit in FY26?

In FY26 (April 2025–March 2026), Ion Exchange's consolidated net profit attributable to shareholders was ₹143 crore, down 31.3% from ₹208 crore in FY25, on revenue from operations of ₹2,915 crore (up 6.5%). Over three years, from FY23, net profit was down 27.5%.

How does the Ion Exchange PE ratio compare with its peers?

At the 29 October 2026 closing prices, on FY26 net profit attributable to shareholders, Ion Exchange's PE ratio is 34.6, the second highest of the four: Thermax 49.9, KPI Green Energy 12.0 and GMR Power and Urban Infra 12.0, a peer average of 24.7. Each is the company's market capitalisation at that price divided by its FY26 net profit.

Ion Exchange vs Thermax: how do they compare?

In FY26, Ion Exchange earned net profit attributable to shareholders of ₹143 crore on revenue of ₹2,915 crore, against ₹721 crore on ₹10,694 crore for Thermax. Ion Exchange's operating margin was 5.1% (Thermax 7.7%) and its return on equity 11.2% (Thermax 13.7%). At the 29 October 2026 close, Ion Exchange's market capitalisation was ₹4,940 crore against ₹35,970 crore for Thermax, and its PE ratio on FY26 profit 34.6 against 49.9.

When are the Ion Exchange next results?

Ion Exchange will announce its Q2 FY27 results (July–September 2026) on Tuesday, 3 November 2026, the date of the board meeting it has notified to the exchanges.

How does Ion Exchange compare with its peers?

On FY26 consolidated figures, against Thermax, KPI Green Energy and GMR Power and Urban Infra: Ion Exchange's operating margin of 5.1% is the lowest of the four (Thermax 7.7%, KPI Green Energy 30.6%, GMR Power and Urban Infra 12.8%; peer average 17.0%); its return on equity of 11.2% is the lowest of the four (Thermax 13.7%, KPI Green Energy 16.9%, GMR Power and Urban Infra 48.2%; peer average 26.3%); its revenue growth over three years of 13.6% a year is the second highest of the four (Thermax 9.8% a year, KPI Green Energy 61.2% a year, GMR Power and Urban Infra 9.9% a year; peer average 26.9% a year).

Where do these Ion Exchange figures come from?

From Ion Exchange's own consolidated results, balance sheets and shareholding patterns filed with NSE, and NSE prices (the latest used here: the 29 October 2026 close). Ratios are calculated by Alphave from those filings as each answer describes.

Consolidated figures from the company's filings with NSE; prices are NSE closing prices.