Ion Exchange hits record high after Q4 PAT spurts 144% YoY

Ion Exchange (India) hit an upper circuit of 20% at Rs 2,036.20 after the company's consolidated net profit jumped 144.2% to Rs 70.48 crore on 26.8% rise in net sales to Rs 445.15 crore in Q4 March 2021 over Q4 March 2020.

Profit before tax soared 127.9% to Rs 89.80 crore in Q4 FY21 as against Rs 39.41 crore in Q4 FY20.

Among segments, revenues from Engineering segment grew 32.38% to Rs 290.96 in Q4 FY21 as against Rs 219.78 crore in Q4 FY20. Revenue from Chemicals segment climbed 17.76% to Rs 129.77 crore in Q4 March 2021 compared with Rs 110.19 crore in Q4 March 2020. Revenues from Consumer Products segment galloped 16.83% to Rs 37.69 crore in Q4 March 2021 compared with Rs 32.26 crore in Q4 March 2020.

During the financial year, Ion Exchange (India)'s consolidated net profit climbed 52.23% to Rs 143.33 crore on 2.04% decline in revenue from operations to Rs 1,449.52 crore in FY 2021 over FY 2020.

Meanwhile, the board has recommended a final dividend of Rs 10 per equity share for the FY 2020-21.

Ion Exchange (India) is engaged in water and environment management business. The company offers products, including ion exchange resins, water treatment plants and chemical additives. The firm's segments are engineering, chemicals and consumer products.

The scrip touched a record high of Rs 2,036.20 in morning trade today.

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