Latest: Ion Exchange (India) Ltd Q1 FY27 (Apr–Jun 2026) results →This page is Q4 FY26 (Jan–Mar 2026).All Q4 FY26 results →

IE

Ion Exchange (India) Ltd

Q4 FY26

Ion Exchange (India) Q4 FY26 earnings call: Revenue & Margins

Q4 FY26 earnings call: what management said on revenue, margins and capex.

Price₹369

Market cap₹6.1K Cr

P/E55.4

Updated23 Aug 2026

Read5 min read

What the Q4 FY26 call signalled

2 of 5 strong

RevenueModerate growth

MarginMargins steady

CapexCapex planned

FundraiseNo fundraise planned

Order bookOrder book rising

The short version

The chemicals segment has a positive long-term outlook with continued investment and international market expansion, especially via the new Roha facility targeting exports. Engineering segment expected to benefit from healthy order book and project execution, including significant projects like the IOCL Panipat Refinery and Oman BOOT contract, ensuring revenue growth.

From Ion Exchange (India) Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

Moderate growth

The chemicals segment has a positive long-term outlook with continued investment and international market expansion, especially via the new Roha facility targeting exports.
Roha plant aims for 25% capacity utilization in the first full year, with progressive customer acquisitions underway, supporting volume growth.
Efforts are ongoing to grow revenues in the consumer products division, which increased 34% YoY, aiming to move towards breakeven or modest profitability.
Engineering segment order book provides healthy revenue visibility, boosted by new medium-sized opportunities across sectors and international markets.
The UP Jal Jeevan Mission and legacy projects will contribute revenue over the next financial year with expected execution ramp-up as government funding improves.

2 more points from Ion Exchange (India) Ltd's call on revenue

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Profitability & Margins

Engineering segment expected to benefit from healthy order book and project execution, including significant projects like the IOCL Panipat Refinery and Oman BOOT contract, ensuring revenue growth.
Legacy UP Jal Jeevan Mission project’s slow execution is a near-term drag but expected to complete within FY27, with government fund flow improving, which should support margin recovery.
Chemicals segment faces short-term challenges from raw material inflation and West Asia logistics issues; however, long-term outlook is positive with strategic contract wins and new capacity at Roha plant commissioned.
Roha facility aims for 25% capacity utilization in FY27 with growing export demand; profitability expected to improve as input cost pressures and ramp-up expenses ease.
Consumer products division growing strongly (34% YoY) with a path towards break-even or modest profit.

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Capital Expenditure Plans

Capex planned

Roha Plant: Focus on utilizing existing Roha facility capacity with backward integration underway; no major new CAPEX planned immediately, only maintenance and routine CAPEX of Rs.30-40 crores for FY27.
Oman Project: CAPEX of around USD 40 million over next two years planned, funded by a mix of debt and equity; Ion Exchange holds 51% in the JV.
Strategic Investments: Partnership with MANN+HUMMEL to expand membrane technology portfolio for global markets.

2 more points from Ion Exchange (India) Ltd's call on capex

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Fundraising & Capital Structure

No major new CAPEX is planned currently, except possible plant expansions in the future, which will be communicated when plans crystallize.
Gross debt is currently around Rs. 384 crores, with no major increase envisaged by the end of FY27.
Future CAPEX is expected to be mainly maintenance and routine, estimated at Rs. 30-40 crores for FY27.
For the Oman project (USD 40 million CAPEX), funding will be through a mix of debt and equity, with the company's equity contribution coming from internal accruals; balance shared with joint venture partners.

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Order Book & Pipeline

Order book rising

As of 31st March 2026, the engineering order book stood at INR 26,433 million, providing healthy revenue visibility going forward.
The company’s order intake in the engineering segment has been quite healthy, with a 40% increase compared to the last full financial year.
Major portion of the projects from this order book are expected to be executed in the current and next financial year.
The backlog includes standalone orders only; joint venture orders such as those in Oman are excluded from reported backlog.

2 more points from Ion Exchange (India) Ltd's call on order book

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Ion Exchange (India) Ltd — Quarterly revenue & net profit

Revenue Net profit

Dec 2024Q3 FY25

Mar 2025Q4 FY25

Jun 2025Q1 FY26

Sep 2025Q2 FY26

Dec 2025Q3 FY26

Mar 2026Q4 FY26

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): 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's management said in earlier quarters

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Frequently Asked Questions

What were Ion Exchange (India) Ltd Q4 FY26 results?

The chemicals segment has a positive long-term outlook with continued investment and international market expansion, especially via the new Roha facility targeting exports. Engineering segment expected to benefit from healthy order book and project execution, including significant projects like the IOCL Panipat Refinery and Oman BOOT contract, ensuring revenue growth.

What is Ion Exchange (India) Ltd share price analysis?

Ion Exchange (India) Ltd currently shows a below-average growth signal. The stock trades at a P/E of 55.4 with a market cap of ₹6,097 Cr. Investors should review the full earnings analysis for detailed insights.

Is Ion Exchange (India) Ltd planning capital expenditure?

Roha Plant: Focus on utilizing existing Roha facility capacity with backward integration underway; no major new CAPEX planned immediately, only maintenance and routine CAPEX of Rs.30-40 crores for FY27.

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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.