ION Exchange (India) Limited has informed the Exchange about Transcript of the Earnings Conference Call held on Thursday, November 5, 2026

November 12, 2026 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 Sub.: Submission of Transcript of the Earnings Conference Call held on Thursday, November 5, 2026 Dear Sir/ Madam, Pursuant to Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the transcript of the Earnings Conference Call held with the Investors and Analysts (Group Meet) on Thursday, November 5, 2026, to discuss the financial performance of the Company for the second quarter and half year ended September 30, 2026. The said transcript is also available on the Company's website at www.ionexchangeglobal.com. Kindly take the information on record. Thanking you, Yours faithfully, For Ion Exchange (India) Limited Nikisha Solanki Company Secretary & Compliance Officer ACS- 50894 Encl.: As stated above Ion Exchange (India) Limited Q2 & H1 FY2027 Earnings Conference Call November 05, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Ion Exchange (India) Limited Q2 H1 FY2027 Earnings Conference Call, hosted by Valorem Advisors. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing “*” then “0” on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Ms. Purvangi Jain from Valorem Advisors. Thank you, and over to you. Purvangi Jain: Thank you. Good afternoon, everyone, and a very warm welcome to you all. My name is Purvangi Jain from Valorem Advisors. We represent the Investor Relations of Ion Exchange (India) Limited. On behalf of the company and Valorem Advisors, I would like to thank you all for participating in the company's earnings conference call for the 2nd Quarter and 1st Half of the Financial Year 2027. Before we begin, let me mention a short cautionary statement. Some of the statements made in today's call may be forward-looking in nature. Such forward-looking statements are subject to risk and uncertainties which could cause actual results to differ from those anticipated. Such statements are based on management's belief as well as assumptions made by and information currently available to the management. Audiences are cautioned not to place any undue reliance on these forward-looking statements in making any investment decisions. The purpose of today's reclassification of reporting segments and earnings call is purely to educate and bring awareness about the company's fundamental business and financial quarter under review. Page 1 of 21 Let me now introduce you to the management participating with us in today's call and hand it over to them for their opening remarks: We have with us Mr. Aankur Patni – Vice Chairman; Mr. Indraneel Dutt – Managing Director and CEO; Mr. Vasant Naik – Group Chief Financial Officer; and Ms. Nikisha Solanki – Company Secretary. Without any further delay, I request Mr. Vasant Naik to start with his opening remarks. Thank you, and over to you, sir. Vasant Naik: Thank you, Purvangi. Good afternoon, everybody. It is a pleasure to welcome you to the Earnings Conference Call for the 2nd Quarter and 1st Half of the Financial Year 2027. Let me begin with an overview of the company's consolidated financial performance. During the 2nd quarter, on a consolidated basis, the company reported operating income of INR 6,747 million, decline of approximately 8% year-on-year. The EBITDA stood at a loss of INR 848 million, while the net loss after tax for the quarter was INR 828 million. The financial performance for the quarter was significantly impacted by changes in the estimated cost to complete of certain legacy projects within the Treatment Solutions segment. For the first half of FY 2027, the company reported operating income of INR 13,752 million, registering a year-on-year growth of just under 4%. EBITDA stood at a loss of INR 530 million, while the net loss after tax for the period was INR 797 million. Let me now briefly update you on our order book and pipeline. As of September 30th, 2026, our engineering project order book stood at approximately INR 26,960 million excluding the outstanding orders of INR 100 million from the Sri Lanka project and INR 2,630 million under the UP Jal Jeevan order. Our total order book stood at approximately INR 29,690 million. Page 2 of 21 In addition to our existing order book, our bid pipeline now stands at INR 93,700 million as of September end. During the quarter, the order inflow stood at INR 8,130 million, driven primarily by the medium- sized opportunities and a prestigious international contract from Hyundai Engineering and Construction Company Limited valued at USD 52.83 million. This is for the supply of filtration units in the Middle East with a better margin profile. Our overall enquiry bank continues to remain steady, and we remain focused on converting these opportunities into orders and executing our existing backlog as per the planned schedules. Now let us go through the quarterly segmental performance on a consolidated basis. Starting with the Treatment Solutions, the segment reported revenue of INR 1,498 million during the second quarter of the current year compared with INR 2,958 million in the corresponding quarter last year. The EBIT stood at a loss of INR 1,215 million compared with a loss of INR 122 million in Q2 of FY ’25-’26. For the first half of FY 2027, revenue stood at INR 3,597 million compared with INR 4,797 million in the corresponding period last year, while EBIT stood at a loss of INR 1,389 million. As mentioned earlier, the segment performance was significantly impacted by changes in the estimated cost to complete of certain legacy projects. Additionally, the execution of some high-value contracts is scheduled for the second half, while certain dispatches to the GCC region have now been deferred to the second half due to the ongoing Middle East crisis. Looking ahead, considering our strong order backlog and planned execution schedules, we expect an improvement in turnover during the second half, accompanied by a better margin profile. Moving to the Industrial Products segment, the segment delivered strong growth during the quarter. Revenue increased by approximately 35% year-on-year to INR 1,360 million compared with INR 1,009 million in Q2 of FY ’26. EBIT also improved to INR 86 million from INR 74 Page 3 of 21 million in the previous year. For the first half of FY ’27, revenue grew by approximately 25% year-on-year to INR 2,411 million while the EBIT increased to INR 210 million as against INR 124 million in the corresponding period last year. The segment continues to witness steady order inflows and we expect the growth momentum to continue in the coming quarters. Coming to the Lifecycle Services, the segment recorded sequential growth during the quarter while maintaining stable margins. Revenue stood at INR 706 million compared with INR 770 million in Q2 of FY ’26, while EBIT was INR 59 million. For the first half of FY ’27, revenue increased to INR 1,422 million as against INR 1,329 million in the previous year, and the EBIT stood at INR 130 million. Moving to the Specialty Chemicals, the segment recorded an improvement in turnover both sequentially and year-on-year. Revenue for Q2 FY ’27 increased by approximately 17% year-on-year to INR 2,546 million compared with INR 2,181 million in the corresponding quarter last year, and the EBIT stood at INR 225 million. For the first half of FY ’27, revenue grew by approximately 19% year-on-year to INR 4,843 million compared with INR 4,070 million in first half of FY ’26. EBIT stood at INR 448 millio [Showing first 8,000 characters — download PDF for full document]