Ion Exchange (India) Ltd Stock Analysis

BSE: 500214 | NSE: IONEXCHANG | Engineering - Industrial Equipments | Small Cap

BSE Share Price Jul 06, 18:01
1796.25 30.10 (1.70%)

DeciZen - Make an Informed Decision on ION Exchage

Overall Rating

1. Quality

2. Valuation

Overvalued

3. Price Trend

FAQs

1. Is Ion Exchange (India) Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Ion Exchange (India) Ltd is a average quality company.

2. Is Ion Exchange (India) Ltd undervalued or overvalued?

The key valuation ratios of Ion Exchange (India) Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Ion Exchange (India) Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Ion Exchange (India) Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of ION Exchage:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Ion Exchange (India) Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
ROCE % 12%13.8%10.3%13.6%14.7%18.3%14.9%16.3%20.3%25.7%-
Value Creation Index -0.1-0.0-0.3-0.00.10.30.10.20.50.8-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 6537677127328029269861,1021,4071,4021,509
YoY Gr. Rt. %-17.6%-7.2%2.8%9.6%15.6%6.4%11.8%27.7%-0.4%-
Adj EPS 12.215.912.9182334.732.44263.1101.3105.2
YoY Gr. Rt. %-30.3%-18.8%39.8%27.9%50.6%-6.6%29.7%50.1%60.7%-
BVPS (₹) 117.9135.7137.1150.5170.7184.7213.7255.2328.3427.5523.2
Adj Net Profit 16.521.118.726.233.550.947.561.792.5149154
Cash Flow from Ops. 13.223.1-1.941.92415880.210564.7192-
Debt/CF from Ops. 3.42.7-39.11.22.60.61.70.81.20.2-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 8.9%11.8%12.5%-0.4%
Adj EPS 26.5%34.5%46.2%60.7%
BVPS 15.420.22630.2
Share Price 29.4% 28.3% 40.4% -25.2%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
Return on Equity % 10.712.29.712.414.319.516.317.921.626.822.1
Op. Profit Mgn % 5.16.46.17.57.89.17.48.58.814.313.1
Net Profit Mgn % 2.52.82.63.64.25.54.85.66.610.610.2
Debt to Equity 0.30.30.40.20.30.30.40.20.20.10
Working Cap Days 235204231265279250240228202206261
Cash Conv. Cycle 23125111619343020-395

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 12.45%

Net Profit is growing at healthy rate in last 3 years 46.24%

Return on Equity has declined versus last 3 years average to 22.10%

Sales growth is not so good in last 4 quarters at 8.46%

Latest Financials - Ion Exchange (India) Ltd.

Standalone Consolidated
TTM EPS (₹) 105.2 111
TTM Sales (₹ Cr.) 1,509 1,577
BVPS (₹.) 523.2 447.3
Reserves (₹ Cr.) 753 641
P/BV 3.38 3.92
PE 16.80 15.81
From the Market
52 Week Low / High (₹) 1562.00 / 2947.00
All Time Low / High (₹) 10.00 / 2947.00
Market Cap (₹ Cr.) 2,590
Equity (₹ Cr.) 14.7
Face Value (₹) 10
Industry PE 18.9

Management X-Ray of ION Exchage :

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

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News

About Ion Exchange (India) Ltd

Ion Exchange India pioneered water treatment in India and is today the country's premier company in water and environment management, with a strong international presence. Formed in 1964, as a subsidiary of the Permutit Company of UK, it became a wholly Indian company in 1985 when Permutit divested its holding. Ion Exchange currently employs 1,000 people -- multi-disciplinary teams of highly experienced professional managers, technologists and scientists, supported by a widespread infrastructure in India and abroad.

All operating units of the company are ISO 9001:2000 certified. It was the first ion exchange resin manufacturing company in India to have an FDA approved facility for the manufacture of pharmaceutical grade speciality resins. The resin unit is also ISO 14001 certified. And its chemical division, too, is the first in the water treatment sector in India to be ISO 14001 certified.

In its 40 years of experience, the company has provided installations for diverse industries in India and abroad, from nuclear and thermal power, fertilizer and refinery, to automobile, electronics and textile. The company has an in depth understanding and knowledge of the Indian market as well as of the cultural patterns prevailing particularly in South East Asia, Africa and the Middle East.

More than 35,000 plants in India and abroad are packaged, pre-engineered and custom built. Over 400 major installations at thermal and nuclear power plant stations, fertilizer factories, refineries, petrochemical and other industries. The company undertakes over $30 million worth projects in India on global tender basis and many projects abroad. Exports of equipment, ion exchange resins, membranes and water treatment chemicals to Japan, South East Asia, USA, Europe, Africa, Egypt, Middle East, Russia, Bangladesh, Nepal, Mauritius and Sri Lanka.

Products:

Drinking Water Purifiers, Water Conditioners, Sullage Recycle & Sewage Treatment Systems

Subsidiaries:

1. Ion Exchange Singapore Asia Pacific

To service the Pan Asian region for total water management it set up Ion Exchange Asia Pacific in Singapore. 

2. Ion Exchange Services 

Ion Exchange's investment in building an all-India service infrastructure, started almost two decades ago, is today serving the company in good stead. The service company's network, the largest in the water treatment industry in India, and recently extended to several countries overseas, offers a comprehensive range of technical and value-added services. 

3. Ion Exchange Enviro Farms

Like its core business, Ion Exchange's diversification into organic agri-horticulture, through Ion Exchange Enviro Farms, is a natural extension of its activities and shares the vision of a better world. An agri-business subsidiary, this company harnesses Ion Exchange India's four decades of water and environmental management experience into organic agri-horticulture. The company is among the first corporate in India to undertake scientific bio-intensive organic farming on a commercial scale. Its thrusts areas of business are environ farms, contract farming and produce marketing.

Joint Venture:

• Ion Exchange Waterleau

Their joint venture with Waterleau, Brussels specializes in environmental solutions and services with proprietary technologies encompassing air, water & waste water, bio solids, waste & soil remediation in municipal and industrial segments.

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