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ION Exchange (India) Limited Q3 FY26 earnings call summary

NSE: IONEXCHANG · BSE: 500214

Earnings call of 2 Feb 2026, summarised by AI from the filing.

Ion Exchange Q3 FY26 revenue ₹7,344 million, up 6%, EBITDA down 21% to ₹593 million; Roha 25% utilization guided for FY27.

Key takeaways

  1. Q3 result Revenue ₹7,344 million, up 6% year-on-year; EBITDA ₹593 million, down 21% year-on-year; PAT ₹206 million.
  2. Guidance Roha facility 25% capacity utilization expected in the next financial year; Q4 engineering better than Q3.
  3. Change High-value international engineering dispatches deferred to Q4 FY26, impacting Q3 performance.
  4. Driver Solar sector contracts aggregating ₹2,050 million secured, covering ultra-pure water and zero-liquid discharge solutions.
  5. Risk UP Jal Jeevan Mission execution delayed due to lack of funds, an industry-wide issue.

Original filing on BSE

ION Exchange (India) Limited Q1 FY27 results

As filed: Revenue ₹700 cr (+20% year on year), EBITDA ₹31.7 cr (−49% year on year), PAT ₹3.1 cr (−94% year on year), EBITDA margin 4.5% (−610 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹863 cr (+3% year on year), EBITDA ₹19.9 cr (−77% year on year), PAT ₹24.3 cr (−61% year on year), EBITDA margin 2.3% (−800 bps). Score 2 of 100, Below trend. Revenue, EBITDA and profit growth were well below the company's own trend. EBITDA margin fell 800 bps year on year. Other income 132% of PBT. Share price after the results: −2.2% in 30 days (Nifty 500: +0.9%).
  • Q3 FY26: Revenue ₹734 cr (+6% year on year), EBITDA ₹59.3 cr (−21% year on year), PAT ₹20.6 cr (−35% year on year), EBITDA margin 8.1% (−279 bps). Score 10 of 100, Below trend. Revenue, EBITDA and profit before exceptional items growth were well below the company's own trend. EBITDA margin fell 279 bps year on year. Other income 42% of PBT. Profit fell 34% from last quarter. Share price after the results: +2.4% in 29 days (Nifty 500: +0.1%).
  • Q2 FY26: Revenue ₹734 cr (+14% year on year), EBITDA ₹69.0 cr (0% year on year), PAT ₹50.0 cr (−2% year on year), EBITDA margin 9.4% (−131 bps). Score 50 of 100, In line with trend. Revenue growth was in line with the company's own trend; EBITDA and profit growth were below it. EBITDA margin fell 131 bps year on year. Revenue grew on the previous quarter, against its usual seasonal pattern. Share price after the results: −13.9% in 30 days (Nifty 500: +0.3%).
  • Q1 FY26: Revenue ₹583 cr (+3% year on year), EBITDA ₹62.0 cr (−3% year on year), PAT ₹48.0 cr (+7% year on year), EBITDA margin 10.6% (−63 bps). Score 27 of 100, Below trend. Revenue growth was well below the company's own trend; EBITDA growth was below it; profit growth was in line with it. EBITDA margin fell 63 bps year on year. Other income 28% of PBT. Revenue fell 30% from last quarter. Revenue rose ₹15.0 cr on a year ago, against ₹89.0 cr the year before. Share price after the results: −12.5% in 30 days (Nifty 500: −2.5%).
  • Q4 FY25: Revenue ₹835 cr (+7% year on year), EBITDA ₹86.0 cr (−5% year on year), PAT ₹63.0 cr (−13% year on year), EBITDA margin 10.3% (−134 bps). Score 28 of 100, Below trend. Revenue and profit growth were well below the company's own trend; EBITDA growth was below it. EBITDA margin fell 134 bps year on year. Revenue rose ₹53.0 cr on a year ago, against ₹135 cr the year before. Share price after the results: −5.6% in 29 days (Nifty 500: +3.7%).
  • Q3 FY25: Revenue ₹691 cr (+25% year on year), EBITDA ₹75.0 cr (+6% year on year), PAT ₹50.0 cr (+6% year on year), EBITDA margin 10.9% (−196 bps). Score 55 of 100, In line with trend. Revenue growth was well above the company's own trend; EBITDA growth was below it; profit growth was in line with it. EBITDA margin fell 196 bps year on year.
  • Q2 FY25: Revenue ₹644 cr (+21% year on year), EBITDA ₹69.0 cr (+13% year on year), PAT ₹51.0 cr (+21% year on year), EBITDA margin 10.7% (−73 bps). Score 59 of 100, In line with trend. EBITDA margin fell 73 bps year on year. Not enough history for a trend yet: scored on growth alone.

Past price moves after results do not indicate future moves. Not a recommendation.

ION Exchange (India) Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.