India · Delayed Price · Currency is INR Ion Exchange (India) Earnings Call Transcripts
Fiscal Year 2027
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Q1 FY27 saw 20% revenue growth but a 49% EBITDA decline, with profitability impacted by legacy projects and input cost pressures. All segments posted double-digit revenue growth, and the order book remains strong, bolstered by a major Hyundai contract win.
Fiscal Year 2026
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Operating income grew 7% YoY in FY26, but EBITDA fell 29% due to margin pressures from input cost inflation and logistics disruptions. Engineering and chemical segments faced headwinds from the West Asia crisis, while consumer products saw strong revenue growth and narrowing losses.
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Operating income grew 6% year-on-year in Q3, but EBITDA and margins declined due to adverse mix and higher costs. Roha facility ramp-up and legacy project execution continue to impact profitability, with improvements expected as new projects scale and price increases are implemented.
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Q2 and H1 FY26 saw strong revenue growth, but engineering margins remained under pressure due to legacy projects and infra costs. Chemical and consumer segments showed robust growth, with the Roha plant commissioning progressing as planned. Strategic partnerships and selective order intake aim to improve future profitability.
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Q1 FY26 saw 3% revenue growth and 8% net profit rise, despite SAP transition challenges and lower chemical/engineering revenues. Roha plant commissioning is on track to boost exports, while consumer products posted strong growth. Engineering margins benefited from a one-time item.
Fiscal Year 2025
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Q4 FY25 saw revenue growth but margin pressures due to legacy engineering projects and input cost increases. The chemical segment is set for expansion with the Roha plant, while order inflow delays are seen as temporary. Management remains selective in order intake to protect profitability.
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Q3 and nine-month results showed strong revenue and profit growth, led by engineering and chemical segments, though margins were impacted by a legacy contract and slow government project execution. Guidance remains for 15%-20% revenue growth, with margin recovery expected as project headwinds subside.
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Q2 and H1 FY25 saw strong double-digit revenue and profit growth, with robust order inflows and a healthy pipeline across engineering and chemicals. Margin improvement is constrained by a one-off contract, but H2 is expected to outperform H1, supported by new capacity and international expansion.
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Q1 FY25 saw strong year-over-year growth in revenue, EBITDA, and net profit, with robust performance in both engineering and chemical segments. Execution of large contracts and international expansion remain key drivers, while management transitions to professional leadership.