Ion Exchange up 7% after receiving contracts worth ₹161.19 crore from Adani Power

The company stated that the order will be under an engineering, procurement, and construction (EPC) mode for the total water and environment management systems for the process and utility of the 2x800 MW units at the Raipur and Raigarh Ultra Super Power Projects. The project is expected to be completed within 18 months from the award date.

Earlier this month, the company announced that it had been awarded contracts from Technimont, Italy for de-oiling, demineralisation, and condensate poly unit packages for the Hail & Ghasha Development Project in the United Arab Emirates. The orders are worth ₹168 crore and are expected to be completed within 61 weeks.

For the quarter ended June 30, 2024, the company reported a 34.5% year-on-year (YoY) rise in net profit to ₹44.8 crore. The company’s consolidated operating income for the quarter grew 18.4% YoY to ₹567.6 crore.

In Q1FY25, the company’s operating earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 31.1% YoY to ₹64.1 crore.

The operating EBITDA margin for the quarter expanded by 109 basis points (bps) YoY to 11.29%. Meanwhile, the net profit margin saw an expansion of 94 bps YoY to 7.89%. The company also reported a 35.1% YoY rise in the diluted earnings per share to ₹3.792.

As of June 30, 2024, the company’s engineering order book stood at ₹3,394 crore. The company reported a bid pipeline of ₹8,233 crore. The engineering segment contributed 60% to the company’s revenue while the chemicals and consumer products segment contributed 29% and 11%, respectively.

Shares of the company have risen by nearly 24% since the beginning of the year. The stock has gained over 35% in the past year.