Ion Exchange India shares jump over 19%; here is why

Shares of Ion Exchange India Ltd recorded a sharp uptick in Friday's trade after the company announced that it secured an international order worth $52.83 million (approximately Rs 503 crore) from Hyundai Engineering & Construction Co Ltd.

The stock jumped 19.11 per cent to hit a day high of Rs 479.

The order is for the supply of filtration units in the Middle East and is scheduled to be executed over a period of 18 months.

"We wish to inform you that the Company has been awarded an international contract by Hyundai Engineering & Construction Co Ltd, for the supply of filtration units in the Middle East, aggregating to $52.83 million (approximately Rs 503 crore, based on the prevailing exchange rate). The project is scheduled to be executed over a period of 18 months," the company said in an exchange filing.

On the earnings front, Ion Exchange reported a consolidated operating income of Rs 863.3 crore in the March quarter (Q4 FY26), up around 3 per cent year-on-year (YoY).

EBITDA stood at Rs 19.9 crore, with an EBITDA margin of 2.31 per cent. Net profit came at Rs 24.3 crore, while the PAT margin was 2.81 per cent.

For the financial year 2025-26 (FY26), the company reported an operating income of Rs 2,914.8 crore, marking an increase of around 7 per cent YoY.

EBITDA came in at Rs 210.2 crore, down 29 per cent YoY, while the EBITDA margin stood at 7.21 per cent. Net profit was Rs 143.2 crore and the PAT margin was 4.91 per cent.

During the company's earnings call, Group Chief Financial Officer Vasant Naik said, "During the quarter (Q4 FY26), planned dispatches of certain high-value engineering contracts to the GCC geographies were impacted due to disruptions arising from the West Asia crisis. However, we have since received customer clearances to proceed with the execution post the end of the quarter. The closure of the Sri Lanka project continues to progress as planned and we expect to complete the project by the end of the 2nd Quarter of the Financial Year 2027."

Naik further said, "During the quarter, we achieved an important milestone with the successful commissioning of the raw water treatment plant for the IOCL Panipat Refinery project, which is the largest industrial water treatment package awarded in India. We have also entered into a technology transfer and manufacturing collaboration with MANN+HUMMEL, a global leader in filtration technology, for the manufacture of ultra-filtration membranes and transfer of membrane bioreactor technology to India. This partnership further strengthens our membrane portfolio and enhances our technology offerings."