Shares of Ion Exchange rally to hit a new 52-week high

Today, shares of Ion Exchange opened at Rs 3984.95 and closed around Rs 4142.10, up by 5.21%. So far 4236 shares were traded over the counter at BSE. The company has a market cap of around Rs 6000 crore. Today it hit a new 52-week high of Rs 4167.90 and it has a 52-week low of Rs 1500.70.  

On May 26 2023, the board of the company announced in the exchange filing that it approved a sub-division/split of the face value of the firm’s equity shares from the existing Rs 10 per equity share to Rs 1 per equity share and have fixed the record date June 12, 2023.

The company’s net revenue for the fourth quarter which concluded on March 31, 2023, climbed by 26.17% to Rs 652.97 crore from Rs 517.54 crore as compared to the same quarter last year. The company’s total net revenue for Q4FY23 declined from Rs 83.20 crore in Q4FY22 to Rs 81.19 crore.

The company’s fourth-quarter net profit increased from the third quarter to Rs 81.19 crore from Rs 47.69 crore. In the same period company’s overall sales increased from Rs 524.69 crore to Rs 652.97 crore.      

For the fiscal year that ended on March 31, 2023, the company recorded a rise in net profit of 20.58%, from Rs 161.69 crore to Rs 194.96 crore. The company’s net sales increased by 25.46% from Rs 1618.57 crore to Rs 2030.68 crore in the year ending March 31, 2022.

The board also approved a dividend of Rs 12.50 per share with a face value of Rs 10 each on equity shares for the financial year ended March 31, 2023. 

Ion Exchange (India) is engaged in a wide range of solutions across the water cycle from pre-treatment to process water treatment, wastewater treatment, recycling, zero liquid discharge, sewage treatment, packaged drinking water, seawater desalination etc.