Ion Exchange shares rise after winning order worth Rs 168 cr; check details

Ion Exchange shares rise after winning order worth Rs 168 cr; check details

Share price of Ion Exchange rose 3 per cent to hit an intraday high of Rs 685.20 per share on the BSE on Monday. This came after the company on Friday said it had received an order worth Rs 168 crore.

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The works contract has been awarded by Italy-based Technimont SpA for a total amount of Rs 168 crore for the Hail & Ghasha Development Project of Abu Dhabi National Oil Company in the UAE. The project is expected to be completed within 61 weeks from the date of project award, the company said in a stock exchange filing.

In the April-June quarter of financial year 2024-25 (Q1FY25), Ion Exchange reported a year-on-year revenue growth of 18.67 per cent, which translates to Rs 579 crore for Q1FY25. However, on a quarterly basis, revenue declined 27.5 per cent compared to the previous three months.

Net profit for Q1FY25 increased 35.14 percent year-on-year to Rs 44.96 crore. Conversely, net profit declined 38.23 percent quarter-on-quarter in the last three months.

The company has a total market capitalization of Rs 9,910.99 crore. The stock is trading at a price-earnings ratio of 46.43 times with an EPS of Rs 14.33 per share.

At 10:16 am, the company’s stock was trading 1.59 per cent higher at Rs 433.50. In comparison, the BSE Sensex was trading 0.06 per cent lower at 81,136 levels.

Ion Exchange (India) Ltd, a leader in the Indian water treatment industry, provides comprehensive water management solutions for industries, homes and communities. It is one of the few companies worldwide to offer a complete range of technologies, products and services covering all aspects of water and wastewater treatment.

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The offering includes water treatment systems, wastewater treatment plants and recycling plants using various physicochemical processes such as purification, filtration, disinfection, membrane and ion exchange technologies, as well as ion exchange resins, polymers and polyelectrolytes for both aqueous and non-aqueous processes.

First publication: 09 Sep 2024 | 10:38 am IST

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