# Ion Exchange (India) share price today (Ion Exchange (India) Ltd, NSE: IONEXCHANG)

> Ion Exchange (India) share price today: ₹338.60 at the NSE close on 3 November 2026, down 15.4% in a year. Ion Exchange (India) (NSE: IONEXCHANG) is worth ₹4,972 crore, trades at a P/E of 45.2 and has closed between ₹332.85 and ₹469.00 over the past 52 weeks. > Ion Exchange (India) Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. IONEXCHANG · Water Treatment · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/ion-exchange-indialtd

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## Key numbers

- Business trend: Getting worse, from the last 12 quarters
- Price: ₹338.60 (−15.4% in a year)
- P/E: 45.2× (higher than 88% of the last 11 years)
- Revenue (Jun 2026): ₹700 Cr (+20.1% on a year ago)
- Profit (Jun 2026): ₹3.1 Cr (−93.7% on a year ago)
- Operating margin: 4.5% (−6.2 points on a year ago)
- ROCE: 14%, FY26
- ROIC: 5.0%, against a 12.0% cost of capital: −7.0 points

The main question: domestic institutions moved +2.5 percentage points over 8 quarters while the business went the other way. ## What is the Ion Exchange (India) share price today? Ion Exchange (India) Ltd's share price was ₹338.60 at the close on 3 November 2026. It has been falling for 1 week. That is 14.6% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹333 and ₹469, and at that close it sat 4% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 6 weeks running. Over the last 11 years the share price moved +1,113% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 28 September 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Ion Exchange (India) this quarter? Three changes stood out: promoters cut their stake for 14 quarters in a row, revenue up on a year earlier for 11 quarters in a row (every quarter we can compare) and indian funds and insurers (DIIs) raised their stake for 3 quarters in a row. 1. Promoters cut their stake for 14 quarters in a row From 27% to 25.1% of the company by the September 2026 quarter. 2. Revenue up on a year earlier for 11 quarters in a row (every quarter we can compare) In the June 2026 quarter revenue was ₹700 crore, +20.1% on a year earlier. Why: Revenue rose because several businesses sold more than a year earlier, including Industrial Products, Life Cycle Services, Specialty Chemicals and Consumer Products. Next results: check whether the orders already won and the bids in progress turn into sales. From the earnings call on 10 Aug 2026. 3. Indian funds and insurers (DIIs) raised their stake for 3 quarters in a row From 14.2% to 15.7% of the company by the September 2026 quarter. ## What are Ion Exchange (India)'s latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Ion Exchange (India) reported revenue of ₹700 crore, up 20.1% from ₹583 crore a year earlier, and a profit of ₹3.06 crore, down 93.7% from ₹48.4 crore. ### Ion Exchange (India) results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹700 crore | ₹583 crore | +20.1% |
| Profit | ₹3.06 crore | ₹48.4 crore | −93.7% |
| Earnings per share | ₹0.28 | ₹3.32 | −91.6% |
| Operating margin | 4.5% | 10.7% | −6.2 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Ion Exchange (India)'s management discussed these results on a call held on 10 August 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Ion Exchange (India) share price history? Ion Exchange (India) closed at ₹338.60 on 3 November 2026, down 15.4% from ₹400.10 a year earlier (31 October 2025) and up 50.0% over five years. Its highest weekly close since March 2016 was ₹720.85 on 23 August 2024. ### Ion Exchange (India) share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹338.10 | +0.1% |
| 1 month ago · 1 Oct 2026 | ₹406.50 | −16.7% |
| 6 months ago · 30 Apr 2026 | ₹396.10 | −14.5% |
| 1 year ago · 31 Oct 2025 | ₹400.10 | −15.4% |
| 3 years ago · 3 Nov 2023 | ₹527.75 | −35.8% |
| 5 years ago · 4 Nov 2021 | ₹225.74 | +50.0% |
| 10 years ago · 4 Nov 2016 | ₹32.92 | +928.6% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹27.92 | +1,112.8% |
| Highest weekly close since March 2016 · 23 Aug 2024 | ₹720.85 | −53.0% |
| Lowest weekly close since March 2016 · 30 Sep 2016 | ₹27.68 | +1,123.3% |
| 52-week high (weekly close) · 10 Jul 2026 | ₹469.00 | −27.8% |
| 52-week low (weekly close) · 27 Mar 2026 | ₹332.85 | +1.7% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (563 weekly closes from 11 March 2016 to 3 November 2026.)

## What is the latest news on Ion Exchange (India)? 3 Nov 2026: Ion Exchange (India) closed at ₹338.60, up 0.1% on the week and down 16.7% on the month. 31 Aug 2026: ex-date for a dividend of ₹1.25 a share. ### Earlier

- 10 Aug 2026: Ion Exchange (India) held its results call for April to June 2026. Management guided: Roha first-year utilization goal of 25% maintained. - Results for April to June 2026: Revenue up 20.1% and profit down 93.7% on a year earlier. ## What dividend does Ion Exchange (India) pay? Ion Exchange (India) paid ₹1.25 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.37% at the ₹338.60 close on 3 November 2026. The last was a dividend of ₹1.25 a share, ex-date 31 August 2026. ### Ion Exchange (India) dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 31 Aug 2026 | ₹1.25 | Dividend |
| 2 Sep 2025 | ₹1.50 | Dividend |
| 3 Sep 2024 | ₹1.50 | Dividend |
| 30 Aug 2023 | ₹1.25 | Dividend |
| 29 Aug 2022 | ₹10 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 4 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Ion Exchange (India) Ltd paid out 12% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Ion Exchange (India) management say on the latest results call? On the call for April to June 2026, held on 10 August 2026, Ion Exchange (India)'s management guided: Roha first-year utilization goal of 25% maintained. > “We do not want to create the impression that we are out of the woods. We are not.”
> Indranil Dutta, on the call for April to June 2026

### What management guided

- Roha and Ankleshwar combined resin capacity planned at 5x historical capacity after debottlenecking. - Ankleshwar pharma-resin capacity expansion to 6x current level planned within the next 12 months. - Specialty Chemicals capacity expected at least 50% higher over the next couple of years. - Full Roha capacity expected to generate just under 2x asset turnover on manufacturing capital spending over the next 4 years. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/154/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 10 August 2026.)

## What to watch in Ion Exchange (India)'s next results? When Ion Exchange (India) reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Roha utilization trajectory - check whether overseas offtake and plant stabilization improve after the softer start. - What to check (from the call)
- Roha utilization trajectory - check whether overseas offtake and plant stabilization improve after the softer start. - Treatment Solutions EBIT recovery - check legacy-project execution, government funding and customer readiness for closure progress. - Specialty Chemicals margin recovery - check raw-material moderation, price pass-through and Roha stabilization. - Consumer Products profitability - check quarterly progress toward the break-even goal. ## Which stock lists is Ion Exchange (India) on? Ion Exchange (India) is not on any of our India lists this week. ## Is Ion Exchange (India) profitable? Ion Exchange (India) Ltd earned ₹3.1 Cr of net profit in the Jun 2026 quarter, −93.7% on the same quarter a year earlier. Full-year FY26 profit was ₹143 Cr. Over 10 years profit has grown 23.7% a year on average. That is 0.4% of the quarter's revenue. The same quarter a year earlier earned ₹48.4 Cr. For the full year, FY26 profit was ₹143 Cr (−31.3% on the year before). Why profit moved: revenue changed +20.1% on a year earlier and the margin moved −6.2 percentage points. Sales did the work while the margin got thinner. On average over the last four quarters, profit changed −53.8% and revenue +10.9%. Profit is growing slower than sales: rising costs are taking part of the growth. ## How much revenue does Ion Exchange (India) make, and is it growing? Ion Exchange (India) Ltd reported ₹700 Cr of revenue in the Jun 2026 quarter, +20.1% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 12.9% a year on average. The last full year, FY26, came in at ₹2,915 Cr. The last four reported quarters add to ₹3,032 Cr. FY26 revenue was ₹2,915 Cr, +6.5% on the year before. Recent pace: the last four quarters grew +10.9% on average, against 12.9% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +10.1%, against +11.6% a year over the last 8 quarters (stabilising); profit over the last 12 months grew −53.8%, against −31.2% a year (rolling over). ## How much of every ₹100 of sales does Ion Exchange (India) keep? Ion Exchange (India) Ltd's operating margin was 4.5% in the Jun 2026 quarter, 6.2 percentage points lower than the same quarter a year ago. Across 13 years it has been between 5.0% and 14.0%. The latest quarter is below every full year in that period. Why the margin moved: operating margin changed −6.2 percentage points on the year while gross margin changed −4.9 points. So the drop came mostly from the gross margin, which means input costs and prices charged. ## Is Ion Exchange (India)'s profit turning into cash? Over the last 3 years, 25% of Ion Exchange (India) Ltd's reported profit came in as cash from its operations, a gap worth watching. In FY26 its operations used ₹28.0 Cr of cash, against ₹143 Cr of profit. After ₹277 Cr of spending on assets, free cash was −₹305 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 25% of profit came in as cash: the cash cycle got 98 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. When less than 70% of profit comes in as cash, it is the thing to watch on this page. What to look at next: less of the profit turns into cash than it should, and the cash cycle is 98 days longer. The next section looks at where the cash is stuck. ## Where does Ion Exchange (India)'s cash go? Ion Exchange (India) Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 44 days in FY26, up from −54 days in FY21. It spent ₹815 Cr on assets over the last 3 years. Customers take 135 days to pay, and stock sits for 87 days on average. At FY26 sales of ₹2,915 Cr, each day of that cycle ties up about ₹8.0 Cr, so roughly ₹351 Cr is tied up in the business at any time. FY26: customers took 135 days to pay and stock sat for 87 days, about 2.9 months of sales sitting as stock, for a full cycle of 44 days, longer than FY21's −54. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 87 days. Customers pay about 135 days after that. Suppliers are paid at 177 days. Together that makes the 44-day cycle. Spending on assets: ₹815 Cr over the last 3 years, against ₹143 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹176 Cr (FY26): assets paid for that are not earning yet. In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit. ## What is Ion Exchange (India)'s P/E ratio, and how does it compare with its own history? Ion Exchange (India) Ltd's P/E is 45.2×, near the high end of its own history: higher than 88% of past readings. Its usual P/E (the middle reading) is 25.1×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹6.69. Why the multiple is where it is: over the past year earnings per share moved −31.3% while the price moved −15.4%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 5 years the price moved +8.4% a year; about −6.1% a year came from earnings growth and about +14.5 percentage points from the multiple (the market paying more); over 10 years the price moved +26.2% a year; about +21.8% a year came from earnings growth and about +4.4 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Ion Exchange (India) business getting better or worse? Ion Exchange (India) Ltd's business is getting worse. Profit and EPS growth are shrinking: profit growth is −53.8% in the latest quarter, against +15.0% at its best in 12 quarters, with ROCE falling at 10.2%. This is based on 12 quarters of 4 measures. Why it matters: falling lines mean any ratio below that looks low should be read with that direction in mind. ## How much does Ion Exchange (India) earn on its capital? Ion Exchange (India) Ltd earned a ROCE of 14% in FY26. That is up from a low of 12% in FY14. Its return on capital used (ROIC) is 7.0 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 4.9% net margin and 0.86× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 4.9% net margin × 0.86× asset turnover × 2.52× leverage (assets divided by equity) ≈ 10.6% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 5.0% − 12.0% = −7.0 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. The 5.0% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 7.8%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Ion Exchange (India) have too much debt? Ion Exchange (India) Ltd has total debt of ₹482 Cr against shareholder equity of ₹1,340 Cr as of Jun 2026, so its debt is 0.36× its equity. Year by year, that ratio went from 0.08 in FY22 to 0.36 in FY26. Keep that borrowing in mind when reading the returns on this page. ## What is the Ion Exchange (India) shareholding pattern? Domestic institutions raised their stake in Ion Exchange (India) Ltd by 2.5 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 15.7% of the company. Promoters moved −0.8 points over the same period, to 25.1%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: +2.5 points over 8 quarters, to 15.7%; Promoters: −0.8 points over 8 quarters, to 25.1%; Foreign institutions: −0.5 points over 8 quarters, to 4.9%. Why the owners changed: domestic institutions drove it (+2.5 points), with the other side taken by promoters (−0.8 points). They raised their stake step by step. ## How far is Ion Exchange (India) from balance-sheet trouble? For Ion Exchange (India) Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Ion Exchange (India) rank in its industry? 17.4 out of 100, rank 4 of 4 in Water Treatment, with 97% of the evidence available. Ion Exchange (India) Ltd scores 17.4 out of 100 against the 4 companies it is compared with in Water Treatment, ranking 4. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 6.5 + 9.3 + 1.6 + 0 = 17.4. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Ion Exchange (India) compared with? Ion Exchange (India) ranks 4 of 4 Water Treatment companies on the 4-Factor Sector Score, with 17.4 out of 100. 1. [Va Tech Wabag Ltd](https://www.sectoralpha.in/stocks/va-tech-wabag-ltd) WABAG · quiet · Most evidence points up · 97% evidence 67.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.1/35 · Revenue 20.4% · Profit 28.8% · Operating margin change -4 points · 100% evidence Capital efficiency 19.1/25 · ROCE 21.3% · Operating margin 9% · 100% evidence Valuation 10.4/20 · P/E 28.4× · PEG 1.33 · 85% evidence Relative strength 14.0/20 · Lead over its industry 7.1% · Lead over NIFTY 500 19.3% · 1 year 27.9% · 100% evidence · 6 of 12 weeks ahead Exact sum: 24.1 + 19.1 + 10.4 + 14 = 67.6 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Welspun Enterprises Ltd](https://www.sectoralpha.in/stocks/welspun-enterprises-ltd) WELENT · leader · Evidence leans down · 79% evidence 49.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 6.4/35 · Revenue -1.8% · Profit 0.9% · Operating margin change -2 points · 95% evidence Capital efficiency 17.4/25 · ROCE 16.7% · Operating margin 19% · 76% evidence Valuation 7.1/20 · P/E 24.2× · PEG n/a · 35% evidence Relative strength 18.4/20 · Lead over its industry 3.2% · Lead over NIFTY 500 15.8% · 1 year 10.6% · 100% evidence · 12 of 12 weeks ahead Exact sum: 6.4 + 17.4 + 7.1 + 18.4 = 49.3 · What this means: Relative strength against the index is 15.8%, and revenue and profit growth are weak. 3. [Jash Engineering Ltd](https://www.sectoralpha.in/stocks/jash-engineering-ltd) JASH · losing its lead · Evidence leans down · 88% evidence 45.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.8/35 · Revenue 1.4% · Profit 5.2% · Operating margin change 8.6 points · 74% evidence Capital efficiency 12.8/25 · ROCE 17.7% · Operating margin 5.4% · 100% evidence Valuation 3.7/20 · P/E 35.4× · PEG 2.84 · 85% evidence Relative strength 14.9/20 · Lead over its industry -0.7% · Lead over NIFTY 500 12.1% · 1 year -0.5% · 100% evidence · 11 of 12 weeks ahead Exact sum: 13.8 + 12.8 + 3.7 + 14.9 = 45.2 · What this means: Relative strength against the index is 12.1%, and revenue and profit growth are weak. 4. Ion Exchange (India) Ltd this page IONEXCHANG · quiet · Most evidence points down · 97% evidence 17.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 6.5/35 · Revenue 10.2% · Profit -53.8% · Operating margin change -6.2 points · 100% evidence Capital efficiency 9.3/25 · ROCE 14.2% · Operating margin 4.5% · 100% evidence Valuation 1.6/20 · P/E 45.1× · PEG 6.32 · 85% evidence Relative strength 0.0/20 · Lead over its industry -18% · Lead over NIFTY 500 -6.5% · 1 year -15.5% · 100% evidence · 4 of 12 weeks ahead Exact sum: 6.5 + 9.3 + 1.6 + 0 = 17.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Jun 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Water Treatment](https://www.sectoralpha.in/sectors/water-treatment), all 4 compared on one page. ## Which companies are close to Ion Exchange (India) in size? Ion Exchange (India) is the 3rd largest of 4 Water Treatment companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Va Tech Wabag and Welspun Enterprises. Just below it: Jash Engineering. ### Water Treatment companies close in size

1. [Va Tech Wabag Ltd](https://www.sectoralpha.in/stocks/va-tech-wabag-ltd) ₹11,330 crore
2. [Welspun Enterprises Ltd](https://www.sectoralpha.in/stocks/welspun-enterprises-ltd) ₹8,569 crore
3. Ion Exchange (India) Ltd ₹4,963 crore
4. [Jash Engineering Ltd](https://www.sectoralpha.in/stocks/jash-engineering-ltd) ₹3,053 crore

[All 4 Water Treatment companies, largest first](https://www.sectoralpha.in/sectors/water-treatment#all-companies)

### Companies close in size in other industries

1. [D.P. Abhushan Ltd](https://www.sectoralpha.in/stocks/dp-abhushan-ltd) ₹4,990 crore · Diamond, Gems & Jewellery
2. [Triveni Engineering and Industries Ltd](https://www.sectoralpha.in/stocks/triveni-engineering-and-industries-ltd) ₹4,965 crore · Sugar
3. Ion Exchange (India) Ltd ₹4,963 crore
4. [Goodluck India Ltd](https://www.sectoralpha.in/stocks/goodluck-india-ltd) ₹4,923 crore · Steel - Tubes/Pipes
5. [Elevate Campuses Ltd](https://www.sectoralpha.in/stocks/elevate-campuses-ltd) ₹4,881 crore

## What else do people ask about Ion Exchange (India)? ### What is Ion Exchange (India)'s share price today? Ion Exchange (India) Ltd's share price is ₹338.60, −15.4% over the past year. The whole company is worth ₹4,972 Cr on the market. In the last 52 weeks it traded between ₹333 to ₹469; today it is 4% of the way up from the low, 14.6% below its 200-day average (as of 3 November 2026). ### What were Ion Exchange (India)'s latest quarterly results? Ion Exchange (India) Ltd reported revenue of ₹700 Cr and net profit of ₹3.1 Cr for the Jun 2026 quarter. Revenue rose 20.1% and profit fell 93.7% compared with a year earlier. Earnings per share were ₹0.28. The operating margin was 4.5%, 6.2 percentage points lower than a year earlier (as of 3 November 2026). ### What is Ion Exchange (India)'s market cap? Ion Exchange (India) Ltd's market capitalisation is ₹4,972 Cr at a share price of ₹338.60. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Ion Exchange (India) performing? Ion Exchange (India) Ltd's share price has been falling for 1 weeks. In its latest quarter, revenue rose 20.1% and profit fell 93.7% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 6 weeks running (as of 3 November 2026). ### Will Ion Exchange (India)'s share price go up? This page does not forecast Ion Exchange (India) Ltd's share price. What it shows instead: the share price is ₹338.60, and it has been falling for 1 weeks. Its P/E of 45.2× is higher than 88% of its own last 11 years (as of 3 November 2026). ### Who owns Ion Exchange (India)? Promoters own 25.1% of Ion Exchange (India) Ltd, foreign institutions 4.9%, domestic institutions 15.7% and the public 38.1% (latest quarter). The biggest change over the last two years: Domestic institutions raised their stake by 2.5 percentage points over 8 quarters (as of 3 November 2026). ### Does Ion Exchange (India) have too much debt? Ion Exchange (India) Ltd has a moderate amount of debt: its debt is 0.36× its equity, and its operating profit is 8 times its interest bill. FY26 borrowings were ₹482 Cr against equity of ₹1,339 Cr. Keep that borrowing in mind when reading the returns on this page (as of 3 November 2026). ### Where is Ion Exchange (India) in its business cycle? Ion Exchange (India) Ltd's FY26 operating margin was 7.0%, against a 13-year range of 5.0% to 14.0%: the low end of its own range, which is often where recoveries start. The latest quarter was 4.5%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Ion Exchange (India) story? The main question: domestic institutions moved +2.5 percentage points over 8 quarters while the business went the other way. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Ion Exchange (India) a stock worth studying right now? What the numbers show: Ion Exchange (India) Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: whether the owners’ moves turn back in line with the business. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Ion Exchange (India) share price forecast for 2026? What management itself guided: Roha first-year utilization goal of 25% maintained. This is research, not advice. We’re not SEBI-registered.