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Employees: 3,108
Size Ion Exchange (India) (IONEXCHANG.NS) is an India Industrials company (Industrial Machinery) with a market value of $471M, the 867th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹303.60 on 6 Nov 2026.
Performance Over six months the shares fell 28.8%, against -26.3% for the median peer and 0.0% for the India market (cap-weighted) — 10th lowest of 20 in its peer set.
Growth Revenue grew 4.6% over the last twelve months (peer median -2.2%); the operating margin is -1.9% (peer median 1.9%).
Valuation It trades at 1.6× enterprise value to sales against a peer median of 2.8× (6th cheapest of 20).
Capital Return on invested capital runs 15.0 points below its cost of capital (12.1% WACC).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹29.7B | ₹29.1B | ₹27.4B | ₹23.5B | ₹19.9B |
| Revenue growth | — | +6% | +17% | +18% | — |
| Gross profit | ₹4.27B | ₹5.37B | ₹5.86B | ₹5.14B | ₹4.48B |
| EBITDA | ₹261M | ₹2.19B | ₹3.02B | ₹2.83B | ₹2.62B |
| Net income | -₹325M | ₹1.43B | ₹2.08B | ₹1.96B | ₹1.97B |
| Free cash flow | n/a | -₹2.78B | -₹2.61B | ₹315M | ₹211M |
| Capital expenditure | n/a | ₹2.54B | ₹3.20B | ₹1.20B | ₹598M |
| Total debt | ₹4.69B | ₹4.82B | ₹3.23B | ₹1.52B | ₹592M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | IONEXCHANG.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -24.6% | -10.2% | 2nd lowest of 20 |
| 6-month return | -28.8% | -26.3% | 10th lowest of 20 |
| Distance from 52-week high | -37.5% | -44.5% | 7th highest of 20 |
| Revenue growth (TTM) | +4.6% | -2.2% | 8th highest of 21 |
| Operating margin | -1.9% | 1.9% | 5th lowest of 21 |
| EV / Sales | 1.6× | 2.8× | 6th cheapest of 20 |
| ROIC minus cost of capital | -15.0 pp | -4.6 pp | 3rd lowest of 20 |
| Net debt / EBITDA | 8.0× | 0.7× | most indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ion Exchange (India) IONEXCHANG.NS | India | $471M | -29% | +5% | -2% | 1.6× | n/a | n/a |
| Shanghai Guao Electronic Technology 300551.SZ | China | $473M | -35% | -47% | -111% | 22.6× | n/a | n/a |
| Pengyao Environmental Protection 300664.SZ | China | $469M | -23% | -3% | 17% | 2.7× | 1.2% | -4.6% |
| Suzhou YourBest New-type Materials 301266.SZ | China | $467M | -32% | +10% | 3% | 1.1× | n/a | n/a |
| Yuilrobotics 388720.KS | South Korea | $480M | -47% | -5% | -42% | 18.7× | n/a | n/a |
| Zhejiang Weixing Intelligent Meter Stock 002849.SZ | China | $463M | -18% | +3% | -2% | 1.8× | 10.3% | +6.6% |
| Hubei Donper Electromechanical Grou 601956.SS | China | $462M | -16% | -2% | -2% | 0.9× | 32.7% | +3.4% |
| Komax KOMN.SW | Switzerland | $462M | +31% | -3% | 0% | 0.9× | 46.9% | +12.3% |
| WashTec WSU.DE | Germany | $480M | -19% | +3% | 8% | 0.8× | -5.2% | +5.7% |
| Saatvik Green Energy SAATVIKGL.NS | India | $481M | -25% | +111% | 8% | 1.1× | n/a | n/a |
| Guangdong Nedfon Air System 301043.SZ | China | $462M | -29% | -3% | 11% | 4.7× | 19.6% | +6.2% |
| Zhejiang Yuejian Intelligent Equipment 603095.SS | China | $461M | -53% | -25% | 1% | 2.8× | 29.6% | +7.6% |
| Nanjing Baose 300402.SZ | China | $482M | -29% | -18% | 1% | n/a | n/a | n/a |
| HIIG Trinity (Anhui) Technology 600520.SS | China | $482M | -31% | +48% | 4% | 7.2× | 53.0% | +2.6% |
| Sijin Intelligent Forming Machinery 003025.SZ | China | $483M | -17% | +16% | 23% | 3.8× | 1.9% | +13.6% |
| Zhejiang Yilida Ventilator 002686.SZ | China | $459M | -26% | -16% | -2% | 2.2× | 40.1% | +2.0% |
| HD Fire Protect HDFIRE.NS | India | $484M | n/a | +13% | 29% | 9.3× | 32.0% | +14.9% |
| Jiangsu Teeyer Intelligent Equipment 603273.SS | China | $487M | -16% | -7% | 0% | 5.2× | 44.2% | -7.4% |
| Zhejiang Liming Intelligent Manufacturing 603048.SS | China | $487M | -6% | +16% | 4% | 4.3× | 42.6% | +5.7% |
| Shakti Pumps (India) SHAKTIPUMP.NS | India | $456M | -41% | +16% | 9% | 1.7× | n/a | n/a |
| Nanfang Ventilator 300004.SZ | China | $488M | -50% | -18% | -8% | 5.7× | n/a | n/a |