Ion Exchange (500214) Q4 24/25 earnings summary

Executive summary

• Operating income for Q4 FY25 rose 7% year-on-year to INR 8,346 million; full-year operating income increased 17% to INR 27,371 million.

• Net profit for Q4 fell 13% year-on-year to INR 632 million; full-year net profit increased 7% to INR 2,083 million.

• FY25 consolidated revenue mix: Engineering 61%, Chemicals 29%, Consumer Products 10%.

• Audited standalone and consolidated financial results for the year ended March 31, 2025, were approved, showing continued growth in revenue and profitability year-over-year.

• The Board recommended a dividend of ₹1.50 per equity share for FY 2024-25, subject to shareholder approval.

Financial highlights

• FY25 consolidated revenue grew 16.6% year-over-year to INR 27,371 million; operating EBITDA up 8.1% to INR 2,939 million.

• PAT increased 6.6% year-over-year to INR 2,083 million; diluted EPS rose 6.0% to INR 17.530.

• Q4 EBITDA margin was 10.28%; full-year EBITDA margin stood at 10.74%.

• Standalone revenue from operations for FY 2024-25 was ₹254,006 lakhs, up from ₹218,004 lakhs in FY 2023-24.

• Consolidated profit after tax for FY 2024-25 was ₹20,825 lakhs, compared to ₹19,536 lakhs in FY 2023-24.

Outlook and guidance

• Management expects similar trends in FY26, with more clarity on growth and margins after H1.

• Greenfield resin manufacturing plant at Roha expected to commence in Q2 FY26.

• Engineering order inflow expected to improve as delayed opportunities are pursued selectively.

• Positive developments in Sri Lanka project with committed funding to expedite progress.

• The Board remains confident in the company’s growth trajectory, supported by strong financial performance and ongoing investments.