Q1 FY27: revenue up 23%, profit plunges 76% on weak margins
IONEXCHANG · price
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On the reaction day the stock moved 7.1 pts less than Nifty Microcap 250 and 6.2 pts less than its Other Utilities peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Ion Exchange posted Q1 FY27 standalone revenue of Rs 635.6 crores, up 22.7% YoY, but profit after tax fell 75.7% to Rs 11.4 crores. Consolidated revenue rose 20.1% to Rs 700.5 crores while PAT dropped 93.7% to Rs 3.1 crores. EBITDA margins compressed sharply as finance costs nearly five-fold to Rs 8.2 crores (standalone) and the Treatment Solutions segment swung to a loss of Rs 18.3 crores from a Rs 18.3 crore profit a year ago. Deloitte issued a clean review but noted an emphasis of matter on subsidiary IEEFL's pending SEBI matter requiring a Rs 22 crore deposit.
Strong revenue growth offset by sharp profit fall and margin compression; ongoing SEBI overhang on subsidiary IEEFL remains a watchpoint.