Ion Exchange (India) cash flow

Latest FY26

Cash from operations: −₹28.5cr₹32.1 cr in FY25
Capital spending: ₹254cr−20.7% on FY25
Free cash flow: −₹283cr−₹288 cr in FY25
Cash from financing: ₹100cr−21.9% on FY25

₹ crore except per share

Tap a line for its trend	Last 12Mto Jun 2026	FY26Mar 2026	FY25Mar 2025	FY24Mar 2024	FY23Mar 2023	FY22 and earlierAlpha Plus

Changes in working capital
Adjustments to reconcile profit — non-cash items						FY22 and earlierEvery year the company has filed comes with Alpha Plus.
	—	62.6	44.5	36.4	29.1
	—	24.0	13.5	12.1	9.2
	—	−21.2	−36.0	−34.5	−28.2
	—	−0.2	−0.1	−0.0	−0.0
	—	−0.2	0.1	−0.2	0.0
	—	−25.6	0.1	0.7	−1.4
	—	10.0	0.3	7.8	5.3
	—	−1.6	−0.4	−0.3	0.0
	—	−142	−62.5	2.9	−41.3
	—	38.9	−195	−228	−189
	—	−2.4	0.2	4.9	3.2
	—	−218	−94.6	−31.3	−39.4
	—	116	81.9	114	27.8
	—	13.2	8.6	5.2	5.2
	—	−38.1	65.2	45.3	98.6
	—	28.4	−6.3	2.7	0.8
Cash from operating activities
	135	193	284	267	258
	—	−157	−181	−62.3	−120
	—	36.2	104	205	137
	—	64.7	71.8	75.1	74.7
	—	−28.5	32.1	130	62.7
Cash from investing activities
	—	254	320	120	59.9
	—	3.0	1.3	0.4	0.3
	—	0.8	0.5	0.4	0.3
	—	2.0	1.8	11.6	1.4
	—	0.2	0.1	0.0	0.0
	—	26.9	38.9	33.5	26.6
	—	182	118	−61.7	−5.8
	—	−44.5	−165	−160	−40.4
Cash from financing activities
	—	152	185	90.6	26.1
	—	7.7	19.2	49.5	15.6
	—	9.9	7.1	6.4	6.4
	—	22.0	11.4	11.7	8.4
	—	19.4	18.8	15.5	12.3
	—	6.9	0.0	0.9	1.4
	—	100	128	8.4	−15.3
	—	27.2	−4.3	−21.8	7.0
	—	8.1	−0.0	0.0	−0.7
	—	35.3	−4.4	−21.7	6.3
	—	—	—	154	175
Reference items
	179	210	294	272	255
	5.9%	7.2%	10.7%	11.6%	12.8%
	−283	−283	−288	9.6	2.9
	—	−153	−134	83.0	—
	−₹19.86	−₹19.86	−₹20.26	₹0.68	₹0.20
	—	−0.20×	0.15×	0.67×	0.32×
	—	64.7	71.8	75.1	74.7
	—	22.0	11.4	11.7	8.4

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

alphave

IONEXCHANG₹347.15

Ion Exchange (India) Ltd.

· Energy & Power

₹ CrorePeersTHERMAX KPIGREEN GMRP&UI EIEL PTC RTNPOWER KARMAENG WABAGMcap ₹4,940 Cr

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In ₹ Crore except Per Share 12 Months Ending	FY23 31/03/2023	FY24 31/03/2024	FY25 31/03/2025	FY26 31/03/2026	Last 12M 30/06/2026
Adjustments to Reconcile Profit — Non-cash Items
+ Depreciation & Amortisation	29.1	36.4	44.5	62.6	—
+ Finance Costs	9.2	12.1	13.5	24.0	—
+ Interest Income	-28.2	-34.5	-36.0	-21.2	—
+ Dividend Income	-0.0	-0.0	-0.1	-0.2	—
+ Fair Value (Gains) / Losses	0.0	-0.2	0.1	-0.2	—
+ Unrealised FX (Gain) / Loss	-1.4	0.7	0.1	-25.6	—
+ Other Non-cash Items	5.3	7.8	0.3	10.0	—
+ Other Reconciling Items	0.0	-0.3	-0.4	-1.6	—
Changes in Working Capital
+ Inventories	-41.3	2.9	-62.5	-142.4	—
+ Trade Receivables — Current	-189.3	-227.6	-195.2	38.9	—
+ Other Financial Assets — Current	3.2	4.9	0.2	-2.4	—
+ Other Current Assets	-39.4	-31.3	-94.6	-218.0	—
+ Trade Payables — Current	27.8	113.5	81.9	115.6	—
+ Other Financial Liabilities — Current	5.2	5.2	8.6	13.2	—
+ Other Current Liabilities	98.6	45.3	65.2	-38.1	—
+ Provisions — Current	0.8	2.7	-6.3	28.4	—
Cash from Operating Activities
Profit Before Tax (per I/S)	257.8	267.4	284.5	193.2	134.8
+ Total Adjustments (incl. Working Capital)	-120.4	-62.3	-180.6	-157.0	—
Cash from Operations (pre-tax)	137.4	205.1	103.9	36.2	—
+ Income Taxes Paid	74.7	75.1	71.8	64.7	—
Cash from Operating Activities	62.7	129.9	32.1	-28.5	—
Cash from Investing Activities
+ Acq of Fixed Assets (Capex)	59.9	120.3	320.4	254.1	—
+ Disp of Fixed Assets	0.3	0.4	1.3	3.0	—
+ Purchase of Investments (Equity / Debt)	0.3	0.4	0.5	0.8	—
+ Acq of Subsidiaries / Businesses (net)	1.4	11.6	1.8	2.0	—
+ Dividends Received — Investing	0.0	0.0	0.1	0.2	—
+ Interest Received — Investing	26.6	33.5	38.9	26.9	—
+ Other Inflows / (Outflows) — Investing	-5.8	-61.7	117.9	182.5	—
Cash from Investing Activities	-40.4	-160.1	-164.6	-44.5	—
Cash from Financing Activities
+ Proceeds from Borrowings	26.1	90.6	184.7	152.2	—
+ Repayment of Borrowings	15.6	49.5	19.2	7.7	—
+ Payment of Lease Liabilities	6.4	6.4	7.1	9.9	—
+ Interest Paid	8.4	11.7	11.4	22.0	—
+ Dividends Paid	12.3	15.5	18.8	19.4	—
+ Other Inflows / (Outflows) — Financing	1.4	0.9	0.0	6.9	—
Cash from Financing Activities	-15.3	8.4	128.2	100.1	—
Net Changes in Cash (pre-FX)	7.0	-21.8	-4.3	27.2	—
+ Effect of FX Rate Changes on Cash	-0.7	0.0	-0.0	8.1	—
Net Changes in Cash	6.3	-21.7	-4.4	35.3	—
Closing Cash	175.4	153.6	—	—	—
Reference Items
EBITDA	255.0	272.0	293.8	210.2	179.4
EBITDA Margin %	12.82	11.58	10.73	7.21	5.92
Free Cash Flow (CFO − Capex)	2.9	9.6	-288.3	-282.6	-282.6
Free Cash Flow to Equity	—	83.0	-134.3	-153.2	—
Free Cash Flow per Basic Share	0.20	0.68	-20.26	-19.86	-19.86
Cash Flow to Net Income	0.32	0.67	0.15	-0.20	—
Cash Paid for Taxes	74.7	75.1	71.8	64.7	—
Cash Paid for Interest	8.4	11.7	11.4	22.0	—

As filed, sign as filed: a payment tagged as a positive magnitude in the filing stays positive here, so read the label, not the sign. A line appears only when the company tagged that concept in at least one period shown — depth follows the filer, so a thin statement means a thin filing. Total Adjustments is the filer's own grand total of the reconciliation and spans BOTH the non-cash items and the working-capital block; Profit Before Tax plus it equals Cash from Operations (pre-tax). It can be reported when its components are not, so it is never a sum of the rows above it. No consensus estimates → no Est columns. Click any row to chart it.

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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%.