### **Company Overview** **Ion Exchange (India) Ltd.**, founded in **1964** as a subsidiary of Permutit, UK, is now a fully Indian-owned company headquartered in **Mumbai**. With over six decades of leadership, it is recognized as **Asia’s largest one-stop water and environmental solutions provider**, having executed over **100,000 installations** globally. The company offers end-to-end solutions across the entire **water cycle** — from pre-treatment and process water to wastewater, zero liquid discharge (ZLD), seawater desalination, and environmental management for industrial, municipal, residential, and rural applications. --- ### **Core Business Segments** Ion Exchange operates through three key verticals: 1. **Engineering (61% of FY25 Revenue)** - Delivers turnkey water and wastewater treatment plants via **EPC, LSTK, BOOT**, and **PPP** models. - Key technologies: **Seawater desalination**, **ZLD**, **membrane bioreactors (MBR)**, **waste-to-energy**, and **ultra-pure water systems**. - Serves high-impact sectors: **Power, Steel, Oil & Gas, Pharma, Electronics, Data Centers, Solar, and Municipal Infrastructure**. - Major recent project: Commissioned a **40 MLD desalination plant in North Africa**, with two more (60 MLD and 40 MLD) in execution. - **Order Book:** ₹2,711 crore (including UP SWSM and Sri Lanka projects). - **Order Inflows (Q1 FY26):** ₹470 crore. - **Bid Pipeline:** ₹9,011 crore, with a win ratio of **15–20%**. 2. **Chemicals (29% of FY25 Revenue)** - Core product: **INDION RESINS** — a full range of **cation** and **anion** exchange resins for water purification, pharmaceuticals (FDA-approved), nuclear-grade applications, and contaminant removal (e.g., fluoride, arsenic, PFAS, mercury). - Expanding into **green chemistry** and **sustainable processes**, including a **new greenfield resin plant** at **Roha, Maharashtra**, expected to be operational in Q2 FY25–26. - Strong **export presence** in North America, Europe (REACH-certified), and Africa. - Notable innovations: - **Indion GPS100** (PFAS removal), - **Indion PA600SPS** (pharma/biotech applications), - **Uranium removal resin** (successfully piloted in India). 3. **Consumer Products (10% of FY25 Revenue)** - Flagship brand: **ZeroB** — offering RO, UV, UF, and hydrogen-rich water purifiers, non-electric solutions, and institutional systems. - Key launches (2025): **Power Flow RO**, **UV Lite (low-cost online purifier)**, and **Indion® Quencher (MBR-based STP for institutions)**. - Sustainability innovation: **Auto Quencher** — robotic glass-bottling system to eliminate plastic waste in the hospitality sector. - Targeting **urban, institutional, and rural markets**, supported by **Jal Jeevan Mission** and CSR partnerships. --- ### **Global Presence & Strategy** - **Global Manufacturing & Sales Footprint**: - 7 manufacturing plants in **India** (Goa, Roha, Ankleshwar, etc.). - Facilities in **Portugal (Mapril acquisition)**, **UAE**, **Indonesia**, **Bangladesh**, and **Saudi Arabia**. - Subsidiaries in **USA, Oman, South Africa, Malaysia, Thailand**, and **Singapore**. - **International Revenue Drivers**: - **Ion Exchange LLC, USA**: 26% YoY revenue growth to ₹611 crores. - **Ion Exchange Arabia for Water (KSA)**: Secured major plant orders, including for **Ma’aden** pharma/mining complex. - **Ion Exchange Safic (Pty) Ltd, South Africa**: Profit up to ₹34.9 crores from ₹6.2 crores. --- ### **Strategic Partnerships & Technology Advancements** #### **MANN+HUMMEL Technology Licensing (Nov 2025)** - **Not a JV** — a **technology licensing and co-development partnership** for advanced membrane products. - Ion Exchange is now the **exclusive domestic partner** and global distributor (in operational markets) of MANN+HUMMEL’s water & membrane technologies. - **Key Products**: - **Hollow-Fiber Ultrafiltration (UF) Membranes** - **Membrane Bioreactors (MBR)** for wastewater - **Hot-Sanitizable RO Membranes** for biopharma - **Manufacturing**: At **Goa and Roha plants**, under a **co-branded Hydramem + MANN+HUMMEL** arrangement. - **Benefits**: - **Import substitution** and cost leadership in India. - Strengthened global competitiveness and faster deployment. - Positions Ion Exchange as a **strategic manufacturing hub** for MANN+HUMMEL. #### **Membrane Leadership** - Owns **HYDRAMEM-branded RO, UF (PES, PVDF), and nanofiltration membranes**. - **Goa membrane plant** at **100% capacity**, with expansion underway to meet surging demand. - Technology cost and efficiency improvements have driven **double-digit growth** and import substitution. --- ### **R&D and Innovation** - **2 R&D Centres** (notably in **Patancheru, Telangana**, DST-recognized). - **2 Application & Testing Centers** for pilot-scale validation. - Holds **50+ patents** and has commercialized **100+ products**. - Recent innovations: - **INDION TADOX** (licensed from TERI) — advanced photochemical oxidation for complex industrial waste. - **Low-pressure brine concentration** to reduce **ZLD costs**. - **Mercury removal resin**, **high-capacity defoamers**, and **chromatography resins**. --- ### **Growth Drivers & Market Strategy** - **Engineering Growth Focus**: - Targeting **technology-intensive** sectors: **Ultra-pure water (semiconductors, data centers)** and **biopharma**. - Expanding **standardized, skid-mounted systems** for faster project delivery. - Investing in **digital solutions**: - **IONSiTE Digital Solutions** (AI, digital twins, cloud-edge hybrid control). - **INDIONS Autochem** — remote monitoring and predictive maintenance. - **Capacity Expansion**: - **Roha Plant**: ₹200 crore capital work-in-progress; phased ramp-up over **3–4 years**. - Enhancements in **Goa, Hosur**, and integration of **Global Composites (Wada)** for manufacturing scalability. - **Geographic Expansion**: - India: Focus on **UP Jal Nigam**, **Har Ghar Jal**, and municipal PPPs. - Global: Strong pipeline in **Middle East, Africa, and Southeast Asia**. - Europe: **Portugal-based Mapril** used as a European **distribution and sales hub**. --- ### **Financials & Investment Highlights (as of Nov 2025)** - **Order Inflows (Q1 FY26)**: ₹470 crore. - **Total Bid Pipeline**: ₹9,011 crore (with visibility till March 2026). - **Engineering Order Book (Standalone)**: ₹2,711 crore (including UP & Sri Lanka). - **International Subsidiary Performance**: - **Oman**: Revenue ↑ to ₹253 crores, Profit after Tax ↑ to ₹19.1 crores. - **South Africa**: Turnover ↑ to ₹268 crores, PAT to ₹34.9 crores. - **USA**: Revenue ↑ 26% YoY. - **Cash Flow**: Strong customer advances (~₹10.2 crores from international subsidiaries). - **Investments & Assets**: Parent-level consolidated investments valued at **₹6,048 crore**, including stakes in key service and technology subsidiaries. --- ### **Sustainability & ESG Focus** - **Environmental Innovation**: - Waste-to-energy systems (bio-methanation for kitchen waste + sludge). - **Pavitra Ganga Project** (DST/DBT & EU-Horizon 2020) for urban wastewater treatment and reuse. - **Circular Economy**: - Recycles liquid/solid waste in resin manufacturing. - Promotes **plastic-free hospitality** via Auto Quencher system. - **Energy Efficiency**: - Focus on **High Recovery RO (HRR)**, **low-power desalination**, and **renewable energy integration**.