Ion Exchange (India) Limited – Q2 FY26 Results Summary
Announcement Date: November 4, 2025
Financial Highlights (INR Lacs):
- Standalone Revenue: Rs. 67,824 (Q2 FY26), up 31% QoQ (Q1 FY26: Rs. 51,783), down 15% YoY (Q2 FY25: Rs. 58,893)
- Consolidated Revenue: Rs. 73,394 (Q2 FY26), up 26% QoQ (Q1 FY26: Rs. 58,319), down 14% YoY (Q2 FY25: Rs. 64,447)
- Standalone Net Profit: Rs. 4,787; Net Profit Margin ~7.06%
- Consolidated Net Profit: Rs. 4,992; Net Profit Margin ~6.80%
- EPS (Standalone): Rs. 3.894; EPS (Consolidated): Rs. 4.178
- EBITDA (Consolidated): Rs. 8,275; Operating Profit Rs. 6,786
Balance Sheet & Cash Flow:
- Significant capex of Rs. 15,514 Lacs (Standalone) and Rs. 15,639 Lacs (Consolidated) in H1 FY26, mainly on property, plant, equipment, and intangible assets.
- Capital work-in-progress reduced from Rs. 31,695 Lacs (Mar 2025) to Rs. 20,158 Lacs (Sep 2025).
- Non-current borrowings increased to Rs. 28,483 Lacs (Standalone) and Rs. 34,626 Lacs (Consolidated).
- Operating cash flow negative for H1 FY26: Standalone Rs. (1,427) Lacs; Consolidated Rs. (826) Lacs; financing cash flow positive due to borrowings.
Segment Performance:
- Chemicals and Engineering segments profitable; Chemicals segment largest profit contributor.
- Consumer Products segment reported losses.
- Segment revenues (Consolidated Q2 FY26): Engineering Rs. 45,620 Lacs; Chemicals Rs. 21,840 Lacs; Consumer Products Rs. 8,579 Lacs.
Management Commentary & Key Developments:
- Ongoing legal/regulatory matter involving subsidiary Ion Exchange Enviro Farms Limited (IEEFL) related to SEBI refund orders; Rs. 22.02 crores deposited under SEBI direction; matter under appeal with no liability currently envisaged.
- Auditors issued Emphasis of Matter on this issue but provided clean audit opinions.
- No changes in accounting policies or material adjustments reported.
- No acquisitions, disposals, or restructuring reported in the quarter.
Outlook:
- Next hearing on SEBI-related legal matter scheduled for January 20, 2026.
- No specific financial guidance provided for upcoming quarters.
This summary encapsulates Ion Exchange (India) Limited’s Q2 FY26 financial results, operational segment performance, ongoing legal considerations, and capital expenditure trends.