ION Exchange (India)
Water treatment leader with UPW systems for fabs, OSAT, displays and industrial customers.
Quality of growth, returns, cash conversion and balance sheet
Trend, momentum, volume and relative strength composite
Higher = cheaper vs peers and own history
Blended decision input
What's real, what's pending, on this page
- · Live price, day change, market cap — NSE direct
- · 1Y OHLCV, RSI(14), 50/200 DMA, 1M/3M/1Y returns, RS vs Nifty — computed from real NSE OHLCV
- · Sector P/E — NSE direct
- · Promoter %, pledge %, MF/FII/public split, 9-quarter history — Trendlyne
- · Earnings call AI summaries — Trendlyne (where available)
- · Technical (TQ-100) score — computed from real OHLCV
- · Annual revenue / EBITDA / PAT / OCF / FCF / equity / assets — Trendlyne (audited annuals)
- · Segment classification + semicon directness score — analyst seed
- · Bull/bear case + monitorables (curated thesis) — analyst seed
- · Governance risk score (seed) — being replaced by AI-agent assessment
- · Synthesized 5Y forecast removed entirely (was inaccurate)
Growth 20 / Margin 15 / ROC 20 / Cash 15 / Leverage 10 / Reinvestment 8 / Accounting 7 / Governance 5 minus red flags (capped -20).
- − Weak cash conversionOCF/EBITDA 40% < 50%-4
Computed from real 1Y OHLCV pulled from NSE direct: trend, momentum, volume, RS vs Nifty, MA cluster, mean reversion, volatility, patterns minus red flags.
- − Deep drawdown-27% from 52W high-8
AI research agents
Re-classify segment exposure and re-assess governance risk by running fresh AI agents on the latest data. Results cache to data/agents.json.
AI thesis
Generates a fresh thesis grounded in this company's data. Wires to Anthropic when ANTHROPIC_API_KEY is set, otherwise returns a deterministic mock.
Curated thesis
Analyst-set bull, bear and monitorables · use AI thesis above for a fresh take
High-quality compounder with direct UPW exposure to every approved Indian fab/OSAT project. Reasonable valuation.
- +Every fab/OSAT needs UPW
- +ROCE >24%
- +Strong order book
- −Working capital cycles
- −Project execution timing
- −Low promoter holding
Semiconductor exposure
How direct, how visible
Financial snapshot
Latest reported metrics · mock data, ready for live financials
Extracted from Trendlyne · audited annuals · TTM + last 6 fiscal years
| Line | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|---|
| Revenue | ₹2.7k cr | ₹2.6k cr | ₹2.2k cr | ₹1.9k cr | ₹1.6k cr | ₹1.4k cr | ₹1.5k cr |
| ↳ YoY growth | +4.8% | +16.3% | +14.9% | +24.7% | +8.1% | -1.2% | — |
| EBITDA | ₹336 cr | ₹314 cr | ₹280 cr | ₹243 cr | ₹232 cr | ₹169 cr | ₹136 cr |
| ↳ EBITDA margin | 12.4% | 12.1% | 12.6% | 12.5% | 14.9% | 11.8% | 9.3% |
| PAT | ₹183 cr | ₹215 cr | ₹204 cr | ₹185 cr | ₹154 cr | ₹146 cr | ₹99 cr |
| ↳ PAT margin | 6.8% | 8.3% | 9.2% | 9.5% | 9.9% | 10.1% | 6.8% |
| OCF | ₹26 cr | ₹125 cr | ₹43 cr | ₹75 cr | ₹192 cr | ₹61 cr | ₹105 cr |
| ↳ OCF / EBITDA | 7.8% | 39.6% | 15.4% | 30.9% | 82.7% | 36.0% | 77.6% |
| FCF (= OCF − capex) | ₹-143 cr | ₹-37 cr | ₹30 cr | ₹-5 cr | ₹58 cr | ₹61 cr | ₹48 cr |
| Total Equity | ₹1.3k cr | ₹1.1k cr | ₹938 cr | ₹767 cr | ₹627 cr | ₹482 cr | ₹374 cr |
| Total Assets | ₹2.9k cr | ₹2.3k cr | ₹2.0k cr | ₹1.7k cr | ₹1.5k cr | ₹1.4k cr | ₹1.2k cr |
| ↳ ROE | 14.4% | 20.0% | 21.8% | 24.1% | 24.6% | 30.3% | 26.5% |
| ↳ ROA | 6.3% | 9.2% | 10.4% | 11.1% | 10.3% | 10.2% | 8.2% |
From Trendlyne · 9 quarters · synced Invalid Date
- ·Promoter at 25.5% — moderate, slow steady decline
- ·No pledge
Capital allocation, debt discipline, alignment, governance composite. Computed from disclosed metrics.
What the market is pricing in versus our read, and what would invalidate the thesis.
Steady but unspectacular execution. Multiples reflect mid-pack expectations.
Consensus appears reasonable. Look for thesis-changing catalysts (margin inflection, new customer wins, segment mix shift) rather than narrative re-rating alone.
- ×Working capital blowout disclosed in next quarterly result
References
Wire to live data sources in production