💡 Did you know?
The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
History
The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
Ion Exchange (India) Limited is an India-based company, which is engaged in water and environment management with a global presence. The Company's segments include Engineering, Chemicals, Consumer Products and Others. The Engineering segment comprises of water treatment…
Weekly engine runs — movement reflects the numbers, not analyst opinion.
A weak, stagnant business, reasonably priced — but flagged on governance.
Ion Exchange (India) is scored on the general / industrial framework. It keeps a slim 4.8% of every rupee of sales as net profit. Cash conversion lags the reported profit (CFO/PAT -0.20×) — worth a closer look. Free cash flow is worth about -1.6% of its market value.
Over the last 3 years revenue compounded at 14%/yr and profit at -10%/yr. Book value itself has compounded 17%/yr — the hallmark of a genuine compounder. Return on equity is a weak -1.6%. In the latest quarter profit fell 87% versus the prior quarter.
At 25× earnings, the stock sits at the 24th percentile of its own 3.6-year range — the cheap end of where it has historically traded. The forensic screen raises a red flag: Only ₹0.26 of cash per ₹1 profit over 4 years — earnings not converting to cash.
A plain-English restatement of the figures on this page — rules-based, for education and research context, not investment advice or a recommendation.
| Ratio | Company | Sector | Read |
|---|---|---|---|
| P/E | -127.63 | 13.83 | better |
| P/B | 3.57 | 5.03 | better |
| EV/EBITDA | 60.12 | — | — |
| ROE | -1.63 | 10.2 | worse |
| ROCE | 0.85 | — | — |
| ROA | -1.02 | 4.66 | worse |
| Quick Ratio | 1.19 | 3.69 | worse |
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Larsen & Toubro | 27.1 | 5.0 | 15.8% |
| RVNL | 44.7 | 4.1 | 8.9% |
| ACME Solar Holdings | 36.9 | 3.3 | 9.1% |
Revenue has grown every year across all 4 financial years shown. 14% CAGR over 3 years — steady double-digit compounder. Growth is decelerating — latest year grew slower than the year before.
Revenue is outpacing profit (14% vs -10%) — costs are rising faster than the top line. The latest year saw a -31% swing — check if it's a one-off or structural.
Operating margin has compressed from 13% to 6% — costs or competition are eating into profitability. Margins have declined for 3 consecutive years — watch for a structural cost problem.
ROE at 11% — modest; the capital isn't working hard. Capital efficiency declining — ROE down 13pp.
EPS dropped in the latest year despite possible profit changes — dilution or a profit dip could be at play. -10% EPS CAGR — this is the rate at which each share's claim on earnings is compounding.
1 of 4 years had negative operating cash flow — profitability on paper may not translate to cash. Investing outflows exceed operating cash — the company relies on external funding to finance expansion.
When operating cash keeps pace with reported profit, earnings are cash-backed; a persistent shortfall is a quality flag.
Revenue fell 22% QoQ — could be seasonality or a genuine slowdown.
Profit fell 87% QoQ — one-quarter drops can be noise, but a pattern matters. Quarterly margins are compressing (7% → 0%) — more revenue isn't translating to proportionally more profit.
How today's P/E compares to the stock's own historical range. Dashed line = the 3.6y median.
Promoters hold just 25.1% — widely held; sentiment-driven.
Produced by a rules-based engine over licensed exchange fundamentals — every sentence above is derived from the numbers shown, no analyst or AI opinion involved. Education and research context, not investment advice. We are not SEBI-registered as an Investment Adviser or Research Analyst.