Ion Exchange (India) Limited reported a net loss for the second quarter and first half of FY2027. The company’s financial performance was significantly impacted by changes in estimated costs for legacy projects within the Treatment Solutions segment. Despite a decline in Q2 revenue, the Industrial Products segment showed strong growth, while other segments reported mixed performance. Management discussed order book, pipeline, and strategies to improve margins in the coming quarters.
Ion Exchange Posts Net Loss in Q2 FY2027
Ion Exchange (India) Limited announced its financial results for the second quarter and first half of the Financial Year 2027. The company reported a net loss after tax of INR 828 million for the second quarter, a result significantly influenced by updated cost-to-complete estimates for certain legacy projects in the Treatment Solutions segment. For the first half of FY2027, the net loss after tax stood at INR 797 million.
Segmental Performance Highlights
Treatment Solutions
The Treatment Solutions segment revenue for Q2 FY2027 was INR 1,498 million, a decrease from INR 2,958 million in the corresponding quarter last year. The EBIT for the segment was a loss of INR 1,215 million. The performance was impacted by changes in estimated costs for legacy projects and deferred dispatches to the GCC region due to the Middle East crisis. Despite these challenges, the company expects improved turnover in the second half driven by a strong order backlog and planned execution.
Industrial Products
The Industrial Products segment demonstrated robust growth, with revenue increasing by approximately 35% year-on-year to INR 1,360 million in Q2 FY2027. EBIT improved to INR 86 million from INR 74 million in the previous year. For the first half of FY2027, revenue grew by approximately 25% year-on-year to INR 2,411 million, with EBIT increasing to INR 210 million.
Lifecycle Services
The Lifecycle Services segment recorded sequential growth with revenue at INR 706 million in Q2 FY2027 compared to INR 770 million in Q2 FY2026. EBIT stood at INR 59 million. For the first half of FY2027, revenue increased to INR 1,422 million.
Specialty Chemicals
Specialty Chemicals saw an improvement in turnover, with Q2 FY2027 revenue up approximately 17% year-on-year to INR 2,546 million. EBIT was INR 225 million. For the first half of FY2027, revenue grew by approximately 19% year-on-year to INR 4,843 million, and EBIT stood at INR 448 million. Margins in this segment remain under pressure due to input cost inflation, but the company is implementing steps to pass on cost increases.
Consumer Products
The Consumer Product segment continued its strong volume growth, with revenue up approximately 30% year-on-year to INR 1,005 million in Q2 FY2027. EBIT was a loss of INR 41 million. For the first half of FY2027, revenue grew by approximately 32% year-on-year to INR 2,129 million, with an EBIT loss of INR 45 million.
Order Book and Outlook
As of September 30th, 2026, the company’s engineering project order book stood at approximately INR 26,960 million, with a total order book of approximately INR 29,690 million. The bid pipeline stood at INR 93,700 million. Management anticipates an improvement in turnover during the second half of the fiscal year, accompanied by a better margin profile.
Operational Updates
The company is investing in its Consumer Products division with the aim of scaling up operations and building a larger revenue base. Efforts are underway to improve margins and volume in the chemical segment, with the Roha plant expected to contribute significantly. The company is also progressing with its backward integration plans for the Roha facility, expecting completion by year-end.
Source: BSE
