Ion Exchange (India) Ltd
Ion Exchange (India) Q2 FY26: Order Book ₹9,011 Cr
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
The Roha plant commissioning is planned to be completed by the end of the current financial year, with gradual ramp-up to full capacity over the next 3-4 years. Engineering segment margins expected to improve gradually with selective orders; target high single-digit profitability, moving toward potentially better margins with higher-margin products and services.
From Ion Exchange (India) Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- The Roha plant commissioning is planned to be completed by the end of the current financial year, with gradual ramp-up to full capacity over the next 3-4 years.
- In the first 12 months of the Roha plant production, capacity utilization is expected to reach around 25%.
- The chemical and resin business shows strong demand and good capacity utilization, with expectations to continue growth for the balance of the year.
- Engineering segment order inflow improved, with a bid pipeline of approximately Rs. 9,011 crores, mostly from private and PSU sectors.
- Services division experienced strong growth supported by high-value, long-term O&M contracts.
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Profitability & Margins
See what Ion Exchange (India) Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- The Roha plant expansion is a major ongoing investment, with phased commissioning; about 10% was commissioned recently, full scale-up expected over the next 3-4 years.
- Capitalization of the Roha plant partially done; around Rs. 200 crore remains in CWIP, expected to be capitalized by the financial year-end.
- Annual depreciation related to Roha plant investment expected to be ~Rs. 40 crores.
- Additional CAPEX of Rs. 120 crores spent on Roha plant in current half-year; Rs. 80-100 crores planned for other manufacturing and chemical segment facilities this year.
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Top-ranked in Other Utilities
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Ion Exchange (India) Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Current bid pipeline (order book) stands at approximately ₹9,011 crores.
- Order inflow from engineering projects in the last quarter was ₹470 crores.
- Order book has been steady in the range of ₹8,000 to ₹9,000 crores over the past several years.
- Majority of orders originate from private and public sector undertakings; government and infrastructure form a smaller portion.
- Company expects order wins to continue with a win ratio of about 15% to 20%.
- Some orders will close by March 2026, while others may spill over to the next year.
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Ion Exchange (India) Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹863 Cr, net profit ₹24 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Ion Exchange (India) Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Ion Exchange (India) Ltd Q2 FY26 results?
The Roha plant commissioning is planned to be completed by the end of the current financial year, with gradual ramp-up to full capacity over the next 3-4 years. Engineering segment margins expected to improve gradually with selective orders; target high single-digit profitability, moving toward potentially better margins with higher-margin products and services.
What is Ion Exchange (India) Ltd share price analysis?
Ion Exchange (India) Ltd currently shows a neutral. The stock trades at a P/E of 50.3 with a market cap of ₹5,532 Cr. Investors should review the full earnings analysis for detailed insights.
Is Ion Exchange (India) Ltd planning capital expenditure?
The Roha plant expansion is a major ongoing investment, with phased commissioning; about 10% was commissioned recently, full scale-up expected over the next 3-4 years.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.