ION Exchange (India) Limited — PPTs, 06-11-2025: Investor Presentation

**Business Performance:** Ion Exchange's consolidated operating income for Q2 FY26 grew 13.9% YoY to INR 733.9 Cr, with H1 income up 8.7% to INR 1,317.1 Cr. Q2 net profit saw a slight dip of 1.4% YoY to INR 49.9 Cr, while H1 net profit increased 3.1% to INR 98.4 Cr. All segments – Engineering, Chemicals, and Consumer Products – reported revenue growth. Engineering margins were affected by elevated infrastructure costs and a legacy project.

**Growth Drivers/Strategy:** The company partnered with MANN+HUMMEL to locally manufacture UF and MBR membranes, enhancing cost efficiency. It also expanded investments in standard system facilities for off-the-shelf engineering products.

**Recent Developments:** Operations normalized post-SAP migration. The greenfield resin manufacturing plant in Roha commenced stage-wise commissioning. Engineering saw increased order flow in solar & pharma segments, alongside strong growth in its services division with new O&M contracts.

**Key Financial Metrics:** Q2 Diluted EPS was INR 4.178/share, and H1 Diluted EPS reached INR 8.286/share. The total Engineering order book stands strong at ~INR 2,711 Cr.

**Management Commentary/Outlook:** Management highlighted a steady enquiry bank and continued pursuit of opportunities in high-purity water projects within the solar and pharmaceutical sectors.