January 27, 2024

To
BSE Limited National Stock Exchange of India Limited
The Corporate Relationship Dept. Exchange Plaza,C-1,Block-G,
P.J. Towers, Dalal Street Bandra Kurla Complex, Bandra (East),
Mumbai-400 001 Mumbai-400 051,
Scrip Code: 500214 Symbol: IONEXCHANG

Subject: Submission of Analyst / Investor Presentation

Dear Sir/ Madam,

Pursuant to Regulation 30(6) read with Para A of Part A of Schedule III of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015, please find enclosed presentation being made to
Analyst / Institutional Investor to discuss the Financial performance of the Company for the third quarter
and nine months ended December 31, 2023.

The aforesaid information is also available on website of the company and can be accessed at
www.ionexchangeglobal.com

Kindly take the same on your record.

Yours Faithfully,
For Ion Exchange (India) Limited

Milind Puranik
Company Secretary & Compliance Officer
ICSI Membership No. A4824
EARNINGS PRESENTATION – Q3 / 9M-FY24
 Executive Summary
• Ion Exchange (India) Ltd (Ion Exchange), formed in 1964, is a pioneer in water, wastewater treatment & environment solutions and caters to various
industries, institutions, homes & communities.
• Headquartered in Mumbai, the company has seven manufacturing & assembly facilities across India, and one each in Bangladesh, UAE, and Indonesia. It also
has presence across other key geographies.

BUSINESS & FY23 REVENUE MIX (%) - CONSOLIDATED MARQUEE CLIENTS

• Engineering (60%) – Provides comprehensive and integrated services • Industrial – NTPC, NPC, Reliance, IOCL, JSW, CPCL, L&T, ArcelorMittal,
and solutions in water & wastewater treatment including Sea Water Nippon Steel, Nayara Energy, IRCTC , BHEL, Tata Group.
desalination, Recycle and Zero liquid discharge plants to diverse
industries.

• Chemicals (30%) – Provides a comprehensive range of resins, speciality • Institutional – Leela, Military Engineering Services, Taj Hotels, Holiday
chemicals and customized chemical treatment programmes for water, Inn, Hyatt Regency, Oberoi Hotels, Apollo Hospitals, Escorts Heart
non-water and specialty applications. Institute, DLF, Puravankara.

• Consumer Products (10%) – Caters to individuals, hotels, spas, • International – Cargill, Technip France, Unilever Group, Jurong,
educational institutions, hospitals, laboratories, railway and defence Thyssenkrupp (Uhde), Jacobs, Kawasaki, Mitsubishi, PDO Oman,
establishments providing safe drinking water and a clean environment. Emirates Steel, IKPP Indonesia, JESA and Hyundai Engineering

FY23: Operating Income* FY23: Operating EBITDA* FY23: PAT*

INR 19,896 Mn i INR 2,550 Mn INR 1,950 Mn

*Consolidated 2
 Company Overview

• Ion Exchange was originally formed as a subsidiary of Permutit, UK in 1964. It became a wholly owned FY23 REVENUE BREAKUP*
Indian company in 1985. The company is currently in its 59th Year of operations.

• The company has expanded its footprints globally and possesses a diversified product range. It offers
one stop water and non-water treatment solutions catering to diverse segments like infrastructure,
industry, institutions, municipalities, homes and communities, urban and rural. Chemicals,
30%
• It offers a wide range of solutions across the water cycle from pre-treatment to process water Engineering,
treatment, wastewater treatment, recycle, zero liquid discharge, sewage treatment, packaged drinking 60%
water, sea water desalination etc. Consumer
Products,
• Ion Exchange is also engaged in manufacturing ion exchange resins, membranes, speciality chemicals 10%
for water and wastewater treatment as well as non-water applications.

• It has two facilities for in-house R&D and two applications and testing centers.
FY23 GEOGRAPHICAL BREAKUP*
• It has over 50 patents to their credit and 100+ products commercialized.
Exports
• It has a global presence apart from presence in major cities in India with 36+ sales & service centers 23%
and 100+ Channel Partners.

• It exports to Africa, Japan, Middle East, Russia, Southeast Asia, Europe, UK, USA, Canada and
neighbouring countries. Domestic
77%

*Consolidated 3
 Q3 / 9M-FY24 Financial Highlights
Q3-FY24 Performance (Standalone) Q3-FY24 Performance (Consolidated)

INR 5,120 Mn INR 676 Mn 13.20% INR 5,539 Mn INR 706 Mn 12.75%
Operating Income Operating EBITDA Operating EBITDA Operating Income Operating EBITDA Operating EBITDA
Margins Margins

INR 492 Mn 9.61% INR 4.001/Share INR 472 Mn 8.52% INR 4.003/Share
Net Profit PAT Margins Diluted EPS Net Profit PAT Margins Diluted EPS

9M-FY24 Performance (Standalone) 9M-FY24 Performance (Consolidated)

INR 14,438 Mn INR 1,754 Mn 12.15% 11.48%

Operating EBITDA INR 15,660Mn INR 1,798 Mn
Operating Income Operating EBITDA Operating EBITDA
Margins Operating Income Operating EBITDA
Margins

INR 1,309 Mn 9.07% INR 10.651/Share

INR 1,229 Mn 7.85% INR 10.395/Share
Net Profit PAT Margins Diluted EPS
Net Profit PAT Margins Diluted EPS

Note: The equity shares of the company were split / sub-divided from 1 equity share of face value of INR 10 each to 10 equity shares of face value of INR 1 each with effect from 12th June 2023 (record date). The
basic and diluted earning per share (EPS) for the current and previous periods / year has been restated to give effect of the share split as per Ind AS 33.
4
 Q3/ 9M-FY24 Operational Highlights
ENGINEERING
• The segment witnessed satisfactory order flow of medium sized jobs.
• The enquiry bank remains robust however we are experiencing delays in finalizations of some large value
opportunities.
• The Engineering Segment recorded sequential improvement in turnover. The execution of the large EPC jobs
including the UP Jal Nigam Order is expected to accelerate in the ensuing quarters.

CHEMICALS
• The segment recorded improved volumes whilst maintaining healthy margins.

CONSUMER PRODUCTS
• The segment has sustained the growth witnessed in the past few quarters.

ENGINEERING ORDER BOOK AND PIPELINE (As on 31ST DEC, 2023)

Engineering projects^ Outstanding Sri Lanka UP & Delhi Jal Nigam Total Orderbook Bid Pipeline
~ INR 2,156 Cr ~ INR 196 Cr ~ INR 951 Cr ~ INR 3,303 Cr ~ INR 8,526 Cr
^Excluding Sri Lanka Order, UP JJM & Delhi Jal Nigam

5
FINANCIAL OVERVIEW
 Quarterly Standalone Financial Performance
INCOME STATEMENT (INR MN) Q3-FY24 Q3-FY23 Y-o-Y Q2-FY24 Q-o-Q

Operating Income 5,120 4,961 3.2% 4,831 6.0%

Expenses 4,444 4,355 2.0% 4,257 4.4%

Operating EBITDA 676 606 11.6% 574 17.8%

Operating EBITDA Margins (%) 13.20% 12.22% 98 Bps 11.88% 132 Bps

Depreciation 85 72 18.1% 78 9.0%

Finance Cost 16 16 0.0% 22 (27.3)%

Other Income 108 128 (15.6)% 112 (3.6)%

PBT 683 646 5.7% 586 16.6%

Tax 191 172 11.0% 152 25.7%

Profit After Tax 492 474 3.8% 434 13.4%

PAT Margins (%) 9.61% 9.55% 6 Bps 8.98% 63 Bps

Other Comprehensive Income (6) (4) (50.0)% (6) 0.0%

Total Comprehensive Income 486 470 3.4% 428 13.6%

Diluted EPS (INR)# 4.001 3.853 3.8% 3.526 13.5%

#Earnings per equity share includes impact of equity shares held by IEI Shareholding (Staff Welfare) Trusts. & HMIL Shareholding (Staff Welfare) Trusts: (No. of Shares- 2,37,36,140)
Note: The equity shares of the company were split / sub-divided from 1 equity share of face value of INR 10 each to 10 equity shares of face value of INR 1 each with effect from 12th June 2023 (record date). The
basic and diluted earning per share (EPS) for the current and previous periods / year has been restated to give effect of the share split as per Ind AS 33. 7
Quarterly Standalone Segmental Breakup
ENGINEERING (INR MN) CHEMICALS (INR MN) CONSUMER PRODUCTS (INR MN)

R 3,117 1,601 630

3,065 1,500 457
E
V
E
N
U
E
Q3-FY23 Q3-FY24 Q3-FY23 Q3-FY24 Q3-FY23 Q3-FY24

454
269 256 Q3-FY23 Q3-FY24

E
B
385
I
T
(16) (16)

Q3-FY23 Q3-FY24 Q3-FY23 Q3-FY24

8
 Standalone Financial Performance
INCOME STATEMENT (INR MN) 9M-FY24 9M-FY23 Y-o-Y

Operating Income 14,438 12,717 13.5%

Expenses 12,684 11,342 11.8%

Operating EBITDA 1,754 1,375 27.6%

Operating EBITDA Margins (%) 12.15% 10.81% 134 Bps

Depreciation 238 209 13.9%

Finance Cost 55 48 14.6%

Other Income 325 416 (21.9)%

PBT 1,786 1,534 16.4%

Tax 477 409 16.6%

Profit After Tax 1,309 1,125 16.4%

PAT Margins (%) 9.07% 8.85% 22 Bps

Other Comprehensive Income (17) (10) 70.0%

Total Comprehensive Income 1,292 1,115 15.9%

Diluted EPS (INR)# 10.651 9.156 16.3%

#Earnings per equity share includes impact of equity shares held by IEI Shareholding (Staff Welfare) Trusts. & HMIL Shareholding (Staff Welfare) Trusts: (No. of Shares- 2,37,36,140)
Note: The equity shares of the company were split / sub-divided from 1 equity share of face value of INR 10 each to 10 equity shares of face value of INR 1 each with effect from 12th June 2023 (record date). The
basic and diluted earning per share (EPS) for the current and previous periods / year has been restated to give effect of the share split as per Ind AS 33. 9
YTD Standalone Segmental Breakup
ENGINEERING (INR MN) CHEMICALS (INR MN) CONSUMER PRODUCTS (INR MN)

R 8,698 1,809
7,353 4,375 4,396
E 1,416
V
E
N
U
E
9M-FY23 9M-FY24 9M-FY23 9M-FY24 9M-FY23 9M-FY24

1,194 9M-FY23 9M-FY24

632
E
489
B
I 1,039
T (19)

9M-FY23 9M-FY24 9M-FY23 9M-FY24

(35)

10
 Quarterly Consolidated Financial Performance
INCOME STATEMENT (INR MN) Q3-FY24 Q3-FY23 Y-o-Y Q2-FY24 Q-o-Q
Operating Income 5,539 5,121 8.2% 5,330 3.9%
Expenses 4,833 4,496 7.5% 4,726 2.3%

Operating EBITDA 706 625 13.0% 604 16.9%

Operating EBITDA Margins (%) 12.75% 12.20% 55 Bps 11.33% 142 Bps

Depreciation 96 75 28.0% 85 12.9%

Finance Cost 32 24 33.3% 36 (11.1)%

Other Income 88 126 (30.2)% 96 (8.3)%

PBT 666 652 2.1% 579 15.0%

Share of Profit of equity accounted Investee 6 2 N.A 11 (45.5)%

Tax 199 177 12.4% 166 19.9%

Profit After Tax 472 477 (1.0)% 424 11.3%

PAT Margins (%) 8.52% 9.31% (79) Bps 7.95% 57 Bps

Other Comprehensive Income (2) (12) (83.3)% (4) 50.0%

Total Comprehensive Income 470 465 1.1% 420 11.9%

Diluted EPS (INR)# 4.003 4.053 (1.2)% 3.585 11.7%

#Earnings per equity share includes impact of equity shares held by IEI Shareholding (Staff Welfare) Trusts. & HMIL Shareholding (Staff Welfare) Trusts: (No. of Shares- 2,37,36,140) and shares held
by Subsidiary companies: (No of Shares: 43,78,740)
Note: Earnings per equity share includes Ind AS impact of consolidation of 23,689,390 equity shares of INR 1 each and 46,750 equity shares of INR 1 each held by IEI Shareholding (Staff Welfare) Trusts and HMIL
Shareholding (Staff Welfare) Trusts respectively. 11
Quarterly Consolidated Segmental Breakup
ENGINEERING (INR MN) CHEMICALS (INR MN) CONSUMER PRODUCTS (INR MN)

R 3,263 3,212 630

E 1,515 1,872 457
V
E
N
U
E
Q3-FY23 Q3-FY24 Q3-FY23 Q3-FY24 Q3-FY23 Q3-FY24

310 493 Q3-FY23 Q3-FY24

240 378
E
B
I
T (15) (15)

Q3-FY23 Q3-FY24 Q3-FY23 Q3-FY24

12
 YTD Consolidated Financial Performance
INCOME STATEMENT (INR MN) 9M-FY24 9M-FY23 Y-o-Y

Operating Income 15,660 13,421 16.7%

Expenses 13,862 11,935 16.1%

Operating EBITDA 1,798 1,486 21.0%

Operating EBITDA Margins (%) 11.48% 11.07% 41 Bps

Depreciation 260 217 19.8%

Finance Cost 88 69 27.5%

Other Income 270 356 (24.2)%

PBT 1,720 1,556 10.5%

Share of Profit of equity accounted Investee 18 8 NA

Tax 509 426 19.5%

Profit After Tax 1,229 1,138 8.0%

PAT Margins (%) 7.85% 8.48% (63) Bps
Other Comprehensive Income (9) - NA

Total Comprehensive Income 1,220 1,138 7.2%

Diluted EPS (INR)# 10.395 9.706 7.1%

#Earnings per equity share includes impact of equity shares held by IEI Shareholding (Staff Welfare) Trusts. & HMIL Shareholding (Staff Welfare) Trusts: (No. of Shares- 2,37,36,140) and shares held
by Subsidiary companies: (No of Shares: 43,78,740)
Note: Earnings per equity share includes Ind AS impact of consolidation of 23,689,390 equity shares of INR 1 each and 46,750 equity shares of INR 1 each held by IEI Shareholding (Staff Welfare) Trusts and HMIL
Shareholding (Staff Welfare) Trusts respectively. 13
YTD Consolidated Segmental Breakup
ENGINEERING (INR MN) CHEMICALS (INR MN) CONSUMER PRODUCTS (INR MN)

R 9,222 1,809
1,416
E 7,864 4,568 5,095
V
E
N
U
E
9M-FY23 9M-FY24 9M-FY23 9M-FY24 9M-FY23 9M-FY24

582 1,282 9M-FY23 9M-FY24

572 1,068
E
B
I
T (16)

9M-FY23 9M-FY24 9M-FY23 9M-FY24

(32)

14
HISTORICAL FINANCIAL OVERVIEW
 Historical Standalone Financial Performance
INCOME STATEMENT (INR MN) FY20 FY21 FY22 FY23 9M-FY24

Operating Income 14,072 14,018 15,094 18,922 14,438

Expenses 12,862 12,067 13,123 16,592 12,684

Operating EBITDA 1,210 1,951 1,971 2,330 1,754

Operating EBITDA Margins (%) 8.60% 13.92% 13.06% 12.31% 12.15%

Depreciation 221 261 268 280 238

Finance Cost 132 99 76 64 55

Other Income 485 368 461 468 325

PBT 1,342 1,959 2,088 2,454 1,786

Tax 351 499 545 607 477

Profit After Tax 991 1,460 1,542 1,847 1,309

PAT Margins (%) 7.04% 10.42% 10.22% 9.76% 9.07%

Other Comprehensive Income (9) 9 (15) (23) (17)

Total Comprehensive Income 982 1,469 1,527 1,824 1,292

Diluted EPS (INR) 8.185# 11.875@ 12.544@ 15.026@ 10.651@

#Earnings per equity share includes impact of equity shares held by IEI Shareholding (Staff Welfare) Trusts. No. of Shares- 2,36,89,390
@Earnings per equity share includes impact of equity shares held by IEI Shareholding (Staff Welfare) Trusts. & HMIL Shareholding (Staff Welfare) Trusts: (No. of Shares- 2,37,36,140)
Note: The equity shares of the company were split / sub-divided from 1 equity share of face value of INR 10 each to 10 equity shares of face value of INR 1 each with effect from 12th June 2023
(record date). The basic and diluted earning per share (EPS) for the current and previous periods / year has been restated to give effect of the share split as per IndAS33. 16
Historical Standalone Balance Sheet
PARTICULARS (INR MN) FY22 FY23 H1-FY24 PARTICULARS (INR MN) FY22 FY23 H1-FY24
EQUITIES & LIABILITIES ASSETS
Non-Current Assets
Equity
(A) Property, Plant and Equipment 1,389 1,645 1,851
(A) Equity Share Capital 147 147 147
(B) Capital Work-in-progress 201 420 344
(B) Other Equity 7,527 9,228 9,880 (C) Right-of-Use Assets 364 340 348
Total Equity 7,674 9,375 10,027 (D) Other Intangible Assets 19 18 15
Non-Current Liabilities (E) Financial Assets
(A) Financial Liabilities (i) Investments 639 679 919
(ii) Trade Receivables 12 12 9
(i) Borrowings 117 157 178
(iii) Loans 220 220 220
(ii) Lease Liabilities 26 34 59
(iv) Other Financial Assets 86 76 78
(iii) Other financial Liabilities 89 87 139 (F) Other Non-Current Assets 164 39 50
(B) Provisions 166 211 211 (G) Deferred Tax Assets 82 104 114
Total Non – Current Liabilities 398 489 587 Total Non – Current Assets 3,177 3,553 3,948
Current Liabilities Current Assets
(A) Inventories 1,462 1,847 2,058
(A) Financial Liabilities
(B) Financial Assets
(i) Borrowings 196 95 92
(i) Investments 3 3 4
(ii) Lease Liabilities 40 31 29 (ii) Trade Receivables 5,088 6,990 6,722
(iii) Trade Payables 4,859 5,205 4,626 (iii) Cash & Cash Equivalents 1,536 1,586 1,410
(iv) Other Financial Liabilities 280 361 386 (iv) Bank Balances 3,590 3,583 3,751
(B) Other Current Liabilities 3,014 3,984 4,505 (v) Loans 763 578 736
(vi) Other Financial Assets 115 130 79
(C) Provisions 64 57 101
(C) Other current assets 933 1,376 1,633
(D) Liabilities for current tax (Net) 142 49 -
(D)Current Tax Assets (Net) - - 12
Total Current Liabilities 8,595 9,782 9,739 Total Current Assets 13,490 16,093 16,405
GRAND TOTAL - EQUITIES & LIABILITES 16,667 19,646 20,353 GRAND TOTAL – ASSETS 16,667 19,646 20,353
17
 Historical Consolidated Financial Performance

INCOME STATEMENT (INR MN) FY20 FY21 FY22 FY23 9M-FY24

Operating Income 14,798 14,495 15,769 19,896 15,660
Expenses 13,453 12,472 13,637 17,346 13,862
Operating EBITDA 1,345 2,023 2,132 2,550 1,798
Operating EBITDA Margins (%) 9.09% 13.96% 13.52% 12.82% 11.48%
Depreciation 235 277 280 291 260
Finance Cost 160 126 100 92 88
Other Income 354 331 417 411 270
PBT 1,304 1,951 2,169 2,578 1,720
Share of Profit of equity accounted Investee 5 (1) 4 9 18
Tax 367 517 556 637 509
Profit After Tax 942 1,433 1,617 1,950 1,229
PAT Margins (%) 6.37% 9.89% 10.25% 9.80% 7.85%
Other Comprehensive Income 2 (2) (10) (17) (9)
Total Comprehensive Income 944 1,431 1,607 1,933 1,220
EPS Diluted (INR) 8.022# 12.141@ 13.730@ 16.595@ 10.395@

#Earnings per equity share includes impact of equity shares held by IEI Shareholding (Staff Welfare) Trusts. (No. of Shares- 2,36,89,390)
@Earnings per equity share includes impact of equity shares held by IEI Shareholding (Staff Welfare) Trusts. & HMIL Shareholding (Staff Welfare) Trusts: (No. of Shares- 2,37,36,140) and shares held by Subsidiary
companies: (No. of Shares- 43,78,740)
Note: The equity shares of the company were split / sub-divided from 1 equity share of face value of INR 10 each to 10 equity shares of face value of INR 1 each with effect from 12th June 2023 (record date). The
basic and diluted earning per share (EPS) for the current and previous periods / year has been restated to give effect of the share split as per IndAS33.
18
 Historical Consolidated Balance Sheet
PARTICULARS (INR MN) FY22 FY23 H1-FY24 PARTICULARS (INR MN) FY22 FY23 H1-FY24
EQUITIES & LIABILITIES ASSETS
Equity Non-Current Assets
(A) Equity Share Capital 142 142 142 (A) Property, Plant and Equipment 1,446 1,707 2,683
(B) Other Equity 6,414 8,193 8,793 (B) Capital Work-in-progress 200 420 344
Equity attributable to owners 6,556 8,335 8,935 (C) Right-of-Use Assets 370 343 349
Non Controlling Interest (8) 23 32 (D) Other Intangible Assets 19 18 15
Total Equity 6,548 8,358 8,967 (E) Goodwill 86 86 160
Non-Current Liabilities (F) Investment accounted using Equity Method 40 48 59
(G) Financial Assets
(A) Financial Liabilities
(i) Investments 44 47 51
(i) Borrowings 117 157 690
(ii) Trade Receivables 45 45 42
(ii) Lease liabilities 29 34 59 (iii) Other Financial Assets 171 155 153
(iii) Other Financial Liabilities 89 87 139 (H) Deferred Tax Assets (Net) 93 116 125
(B) Provisions 190 239 240 (I) Other Non-Current Assets 257 120 129
(C) Deferred Tax Liabilities (Net) 3 8 62 (J) Non-Current Tax Assets 14 18 18
(D) Other Non-Current Liabilities 5 5 5 Total Non – Current Assets 2,785 3,123 4,128
Total Non – Current Liabilities 433 530 1,195 Current Assets
Current Liabilities (A) Inventories 1,810 2,223 2,508
(A) Financial Liabilities (B) Financial Assets
(i) Borrowings 364 368 220 (i) Investments 3 3 4
(ii) Lease liabilities 42 33 29 (ii) Trade Receivables 5,077 6,968 6,905
(iii) Trade Payables 5,235 5,513 5,208 (iii) Cash & Cash Equivalents 1,691 1,754 1,643
(iv) Other Financial Liabilities 324 404 432 (iv) Bank Balances 3,668 3,726 3,864
(B) Other Current Liabilities (v) Loans 201 152 82
3,085 4,071 4,590
(vi) Other Financial Assets 137 151 100
(C) Provisions 73 66 117
(C) Current Tax Assets (Net) 3 0 14
(D) Liabilities for current tax (Net) 150 59 49
(D) Other Current Assets 879 1,302 1,559
Total Current Liabilities 9,273 10,514 10,645 Total Current Assets 13,469 16,279 16,679
GRAND TOTAL - EQUITIES & LIABILITES 16,254 19,402 20,807 GRAND TOTAL – ASSETS 16,254 19,402 20,807
19
Consolidated Financial Performance
REVENUES (INR MN) OPERATING EBITDA (INR MN) PAT (INR MN)

2,550
19,896 2,132 1,950
2,023
15,769 15,660 1,798 1,617
14,798 14,495
1,433 1,229
1,345
13.96% 942
13.52% 12.82% 9.89% 10.25% 9.80%
9.09%
6.37%
11.48% 7.85%

FY20 FY21 FY22 FY23 9M-FY24 FY20 FY21 FY22 FY23 9M-FY24
FY20 FY21 FY22 FY23 9M-FY24
EBITDA EBITDA Margins PAT PAT Margins

NET DEBT/ EQUITY ROE & ROCE WORKING CAPITAL DAYS

FY20 FY21 FY22 FY23 H1-FY24 91

83
38.1%
34.8% 32.5% 30.0% 58

25.8% 28.3% 31
24.7% 23.3%
(0.5)
(0.7) (0.7)
(0.8) FY20 FY21 FY22 FY23
(0.9)
FY20 FY21 FY22 FY23
ROE ROCE
ROE = Net Profit/Net worth, ROCE = EBIT/Capital Employed
20
Market Data (Bloomberg – ION IN, Reuters – IONX.BO)
1 YEAR SHARE PRICE MOVEMENT (UP TO 31stDec 2023)

160%
140%
120%
100%
80%
60%
40%
20%
0%
-20%
Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23
Ion Sensex

PRICE DATA (As on 31st Dec 2023) SHAREHOLDING PATTERN (As on 31st Dec 2023)

Face value (INR) 1.0

Market Price (INR) 561.95

Promoter
52 Week H/L (INR) 687.6/243.1 26.46%
Others, 40.22%

Market Cap (INR Mn) 82,419 Mutual Funds 9.78%

Equity Shares Outstanding (Mn) 146.67 Alternative Investment Funds, 2.16%

Foreign Portfolio
1 Year Avg. trading volume (‘000) 241.16 Employee Trust, Investors, 5.20%
16.18%

21
 Disclaimer
Ion Exchange (India) Limited
No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions
contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. Certain statements made in this presentation may not be
based on historical information or facts and may be "forward looking statements" based on the currently held beliefs and assumptions of the management of Ion Exchange (India) Limited
(“Company” or “IONEX” ), which are expressed in good faith and in their opinion reasonable, including those relating to the Company’s general business plans and strategy, its future
financial condition and growth prospects and future developments in its industry and its competitive and regulatory environment.
Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance or achievements of the
Company or industry results to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements, including
future changes or developments in the Company’s business, its competitive environment and political, economic, legal and social conditions. Further, past performance is not necessarily
indicative of future results. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements.
The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments.
This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. This presentation
does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it should form the basis of or be relied upon in
connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States,
without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration there from.
This presentation is confidential and may not be copied or disseminated, in whole or in part, and in any manner.
Valorem Advisors Disclaimer:
Valorem Advisors is an Independent Investor Relations Management Service company. This Presentation has been prepared by Valorem Advisors based on information and data which the
Company considers reliable, but Valorem Advisors and the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth,
accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may
consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.
Valorem Advisors also hereby certifies that the directors or employees of Valorem Advisors do not own any stock in personal or company capacity of the Company under review.

For further details please contact our Investor Relations Representatives:

VALOREM ADVISORS
Mr. Anuj Sonpal
Tel: +91-22-49039500
Email: [email protected]

22
THANK YOU