Small cap stock that is engaged in providing water treatment solutions and many more in green after International Criminal Court (ICC) tribunal rejected a suit worth Rs. 150 Crores filed against the company by Ethigen Inc.
At 2;38 p.m. the shares of Ion Exchange (India) were trading at Rs. 577.65 and its market capitalization is Rs. 8,472 Crores.
Ethigen Inc. had earlier filed an Arbitration claim of USD 1,80,00,000 ~Rs. 149.56 crores for damages against the Company at the International Chamber of Commerce (ICC) alleging the wrongful termination and breach of terms of the agreement by Ion Exchange (India)Limited.
Following the suit filed, the International Criminal Court (ICC) tribunal has rejected Ethingen’s claim for damages against the Company and has also rejected all other claims and requests of the parties.
In FY23 it generated 60 percent of its revenue from engineering work, 30 percent from chemicals, and 10 percent from consumer products. It has a total order book of Rs. 3,420 Crores and a Bid pipeline of ~Rs. 8,745 Crores.
It has reported a return on equity (ROE) of 26.18 percent and a return on capital employed (ROCE) of 34.06 percent, it is making good returns on its equity and capital employed.
The company’s revenue from operations grew 26.17 percent from Rs. 1,576.87 Crores in FY22 to Rs. 1,989.61 Crores in FY23, accompanied by increasing profits of Rs. 162.77 Crores to Rs. 196.74 Crores.
Ion Exchange Limited is engaged in providing a wide range of treatment solutions across the water cycle and manufacturing resins, specialty chemicals, membranes, and many more.
Written by: Bharath K.S
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