During Thursday’s trading session, the shares of a company engaged in a wide range of solutions across the water cycle surged 9.6 percent to Rs. 709.3 on BSE, after the company received an order worth around Rs. 161.2 crores from Adani Power Limited.
With a market capitalisation of Rs. 10,090.6 crores, at 10:58 a.m., the shares of Ion Exchange (India) Limited were trading in the green at Rs. 688, up by nearly 6.3 percent, as against its previous closing price of Rs. 647.1.
What’s the News:
According to the latest regulatory filings with the stock exchanges, Ion Exchange (India) Limited secured contracts for Comprehensive & Complete Total Water & Environment Management Solutions from Adani Power Limited valued at nearly Rs. 161.2 crores.
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The order is for the Engineering, Procurement & Construction (EPC) of Total Water & Environment Management Systems for the Process & Utility required of two 800 MW units for the Raipur & Raigarh Ultra Super Power Projects.
The projects are to be completed within 18 months from Project Award dates.
Previous News:
Earlier on 6th September, Ion Exchange received an order worth Rs. 168 crores from Technimont SpA, Italy, for the Hail & Ghasha Development Project of ADNOC in UAE.
The order is for de-oiling, demineralization and condensate poly unit packages, with an execution period of 61 weeks from Project Award Dates.
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Financials:
The company experienced significant growth in its revenue from operations, showing a year-on-year rise of around 18.6 percent from Rs. 479 crores in Q1 FY24 to Rs. 568 crores in Q1 FY25.
Similarly, its net profit increased during the same period from Rs. 33 crores to Rs. 45 crores, indicating a rise of nearly 36.4 percent.
On a year-on-year basis, the consolidated Earnings Before Interest, Taxes, Depreciation, and Amortisation, or EBITDA increased from Rs. 489 crores in Q1 FY24 to Rs. 641 crores in Q1 FY25, registering a growth of 31.1 percent.
As of June 30th, the company’s total order book stood at Rs. 3,394 crores, with a bid pipeline of Rs. 8,233 crores.
Stock Performance
The stock has delivered positive returns of nearly 35 percent of returns in one year, and around 56.4 percent of positive returns in the last six months. So far in 2024, the shares of Ion Exchange have given positive returns of about 24 percent.
About the Company:
Ion Exchange (India) Limited is engaged in providing a wide range of solutions across the water cycle from pre-treatment to process water treatment, wastewater treatment, recycle, zero liquid discharge, sewage treatment, packaged drinking water, seawater desalination etc.
Ion Exchange was originally formed as a subsidiary of Permutit, UK, in 1964. It became a wholly-owned Indian company in 1985.
The company is also engaged in manufacturing resins, speciality chemicals for water and wastewater treatment as well as non-water applications.
The company’s water and environment management solutions extend beyond the industrial sector to homes, hotels, spas, educational institutions, hospitals, laboratories, realty sector, defence establishments and rural communities, providing safe drinking water and a clean environment.
Written by Shivani Singh
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