IONEXCHANGIon Exchange (India) Ltd.
Ion Exchange (India) Q2 FY27 Results: Consolidated Net Loss ₹82.76 Crore on Total Income of ₹683 Crore
- Earnings
- water treatment
Reviewed byKeshav SehgalBlacklitt Research
Ion Exchange (India) (NSE: IONEXCHANG) reported a consolidated total income of ₹682.53 crore and a net loss of ₹82.76 crore for the quarter ended 30 Sep 2026, it said in a filing on 03 Nov 2026. Standalone total income was ₹626.01 crore and the standalone net loss ₹71.35 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹682.53 crore, down 8.8% YoY and 3.4% QoQ
- Net profit: Loss of ₹82.76 crore; loss attributable to owners of ₹81.05 crore
- EPS: Basic loss of ₹6.84 per share, against earnings of ₹4.18 a year earlier
- Finance costs: ₹9.42 crore, up from ₹3.08 crore a year earlier
Standalone
The company on its own, without its subsidiaries
- Total income: ₹626.01 crore, down 9.9% YoY and 3.5% QoQ
- Net profit: Loss of ₹71.35 crore against profit of ₹47.87 crore a year earlier
- EPS: Basic loss of ₹5.80 per share, against earnings of ₹3.89 a year earlier
- Depreciation: ₹20.57 crore, up from ₹10.96 crore a year earlier
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 683 | 748 | -8.8% | 706 | -3.4% | |
| Revenue from operations | 675 | 734 | -8.1% | 700 | -3.7% |
| Other income | 8 | 14 | -45.3% | 6 | +31.1% |
| -83 | 50 | n/a | 3 | n/a | |
| Profit before tax | -107 | 68 | n/a | 7 | n/a |
| Finance costs | 9 | 3 | +205.8% | 9 | +5.3% |
| Depreciation | 22 | 12 | +80.8% | 22 | +1.1% |
| Tax expense | -25 | 18 | n/a | 4 | n/a |
| Net profit margin | -12.13% | 6.67% | -18.80 pp | 0.43% | -12.56 pp |
| EPS, basic (₹) | -6.84 | 4.18 | n/a | 0.35 | n/a |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Revenue from operations fell 8.1% year on year, a smaller decline than other income, which dropped 45.3%.
The tax line is a credit of ₹24.71 crore, so the net loss of ₹82.76 crore is smaller than the pre-tax loss.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 626 | 695 | -9.9% | 649 | -3.5% | |
| Revenue from operations | 616 | 678 | -9.2% | 636 | -3.1% |
| Other income | 10 | 16 | -37.6% | 13 | -22.4% |
| -71 | 48 | n/a | 11 | n/a | |
| Profit before tax | -96 | 64 | n/a | 15 | n/a |
| Finance costs | 9 | 2 | +294.9% | 8 | +4.4% |
| Depreciation | 21 | 11 | +87.7% | 20 | +1.1% |
| Tax expense | -25 | 16 | n/a | 4 | n/a |
| Net profit margin | -11.40% | 6.89% | -18.29 pp | 1.76% | -13.15 pp |
| EPS, basic (₹) | -5.80 | 3.89 | n/a | 0.93 | n/a |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone revenue from operations fell 9.2% and other income fell 37.6%, and other income is 1.6% of total income.
Standalone finance costs of ₹8.57 crore are 1.4% of total income, and depreciation of ₹20.57 crore is nearly double the year-earlier ₹10.96 crore. The standalone loss before tax of ₹96.19 crore compares with a profit of ₹64.12 crore a year earlier.
Inference
The filing reports direct contract expenses within cost of materials consumed of ₹2,215 lacs standalone and ₹2,319 lacs consolidated for the quarter, and a segment reorganisation effective 1 Apr 2026 that renames and regroups the business into Treatment Solutions, Industrial Products, Lifecycle Services, Specialty Chemicals and Consumer Products.
The company's subsidiary Ion Exchange Enviro Farms Limited faces a SEBI matter in which SEBI directed a deposit of ₹22.02 crore towards repayment to investors; the company says it does not envisage any liability on this account, and the next SAT hearing is on 4 Nov 2026. The filing does not say what the outcome of that hearing will be or whether any payment beyond the stated amount may follow.
The filing does not give the reasons for the change in segment results in the quarter or the drivers of the rise in employee and other expenses.
Filed with BSE on . Reference: Original filing (PDF)
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