ION Exchange (India) Limited has informed the Exchange about Earnings Presentation for the fourth quarter and year ended March 31, 2026
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Ion Exchange reported FY26 consolidated operating income of INR 29,148 Mn (up 6.5% YoY) but EBITDA fell 28.5% to INR 2,102 Mn with margins compressing sharply from 10.74% to 7.21%. PAT declined 31.3% to INR 1,432 Mn. Q4 was particularly weak with EBITDA margins at just 2.31% versus 10.28% in Q4 FY25. The company attributed margin pressure to input cost increases at the Roha chemicals facility, logistics disruptions from the West Asia crisis impacting exports, and higher finance costs (up 77.8% YoY). The order book stands at ~INR 23,378 Mn excluding Sri Lanka and UP SWSM projects, with a bid pipeline of ~INR 95,090 Mn. Key wins include the IOCL Raw Water Treatment Plant commission and a technology partnership with MANN + HUMMEL for UF membranes.
Sharp margin compression in FY26 despite revenue growth signals cost pressures and operational challenges. The weak Q4 margin performance (2.31%) raises concerns about near-term profitability unless input costs are successfully passed on to customers.