Please find enclosed herewith the Annual Report for the financial year 2025-26.

August 18, 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.: 62nd Annual Report for the financial year 2025-26 Dear Sir/ Madam, Pursuant to Regulation 34(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’), please find enclosed herewith Annual Report along with Notice of the 62nd Annual General Meeting (AGM) and other Statutory Reports of the Company for the financial year 2025-26. The same is being sent through electronic mode to those Members whose e-mail addresses are registered with the Company/ its Registrar and Share Transfer Agent / Depository Participants. Further, in accordance with Regulation 36(1)(b) of the SEBI Listing Regulations, the Company is also sending a letter to those members whose e-mail addresses are not registered with Company / Registrar and Transfer Agent / Depository Participants providing the weblink from where the Annual Report can be accessed on the Company’s website. The Annual Report along with the Notice of 62nd AGM is also available on the website of Company at www.ionexchangeglobal.com. Kindly take the same on your record. Thanking you, Yours faithfully, For Ion Exchange (India) Limited Nikisha Solanki Company Secretary & Compliance Officer ACS-50894 Encl: As stated above BOARD OF DIRECTORS REGISTERED OFFICE Mr. Rajesh Sharma Executive Chairman Ion House, Dr. E. Moses Road, Mr. Dinesh Sharma Vice-Chairman Mahalaxmi Mr. Aankur Patni Vice-Chairman Mumbai - 400 011 Mr. Indraneel Dutt Managing Director & CEO Mr. M. P. Patni Non-Executive Director BANKERS Mr. David Rasquinha Independent Director Bank of India Canara Bank Mr. Sanjay Joshi Independent Director State Bank of India Mr. Amitava Guharoy Independent Director Axis Bank Ltd. Mr. Gopalaraman Padmanabhan Independent Director Punjab National Bank Mrs. Alka Arora Misra Independent Director Export-Import Bank of India IDFC First Bank Ltd. SENIOR MANAGEMENT Standard Chartered Bank Mr. Rajesh Sharma Executive Chairman ICICI Bank Ltd. Mr. Dinesh Sharma Vice-Chairman STATUTORY AUDITORS Mr. Aankur Patni Vice-Chairman M/s. Deloitte Haskins & Sells LLP Mr. Indraneel Dutt Managing Director & CEO Mr. Vasant Naik Group Chief Financial Officer SECRETARIAL AUDITORS Mr. Dinesh Sadasivan President – Standard System & M/s. GMJ & Associates Chief Manufacturing Officer ADVOCATE & SOLICITORS Mr. Rajesh Srivastava President – Chief Human Resource Officer Crawford Bayley & Co. Mr. Ashok Olla President – Services Mr. Dheeraj Kohli President – Projects Mr. C. K. Sandeep Executive Vice President – International Division Mr. Yogesh Bajpai Executive Vice President – Zero B Dr. N. Anbananthan Executive Vice President – Pharma & Resin Division Mr. Paresh Ballikar Executive Vice President – Chief Audit and Risk Officer Mr. Venkatanath Kandalla Executive Vice President – Industrial Chemical Division Mr. Manish Gandhi Executive Vice President – Business Development & Government Advocacy Mr. Arjun Bhattacharyya Executive Vice President – Chief Technology & Digital Officer Mr. Vivek Mukundan Executive Vice President – Engineering Mr. Sridhar Padmanaban Executive Vice President – Membrane Division Contents COMPANY SECRETARY & COMPLIANCE OFFICER Notice ....................................................................... 4 Ms. Nikisha Solanki Director’s Report ....................................................... 15 REGISTRAR & SHARE TRANSFER AGENT Business Responsibility & Sustainability Report ...... 34 M/s. MUFG Intime India Private Limited C-101, 1st Floor, 247 Park, Management Discussion and Analysis Report. ........ 91 Lal Bahadur Shastri Marg Report on Corporate Governance ............................ 100 Vikhroli (West) Mumbai – 400 083 Auditor’s Report on Standalone Financials .............. 113 Tel No.: 022-49186000 Email: csg-unit@in.mpms.mufg.com Standalone Financial Statements ............................. 126 Website: https://in.mpms.mufg.com Auditor’s Report on Consolidated Financials ............ 194 Consolidated Financial Statements .......................... 204 ANNUAL REPORT 2025-26 NOTICE NOTICE is hereby given that the Sixty-Second Annual General Meeting (“AGM”) of the members of Ion Exchange (India) Limited (“the Company”) will be held on Friday, 11th September, 2026 at 11:00 AM through Video Conferencing (“VC”)/Other Audio Video Means (“OAVM”) to transact the following businesses. The venue of the meeting shall be deemed to be the Registered Office of the Company at Ion House, Dr. E. Moses Road, Mahalaxmi, Mumbai- 400 011. ORDINARY BUSINESS: 1. To receive, consider and adopt the Audited Standalone Financial Statements and Audited Consolidated Financial Statements of the Company for the financial year ended 31st March, 2026 and the Reports of the Board of Directors and the Auditors thereon. 2. To declare Dividend on Equity Shares. 3. To appoint a Director in place of Mr. Dinesh Sharma (DIN: 00051986), who retires by rotation and being eligible, offers himself for re-appointment. SPECIAL BUSINESS 4. Ratification of Remuneration of Cost Auditors To consider and if, thought fit, to pass with or without modification(s), if any, the following resolution as an Ordinary Resolution: “RESOLVED THAT pursuant to the provisions of Section 148(3) and other applicable provisions, if any, of the Companies Act, 2013 read with the rules made thereunder (including any statutory modification(s) or re-enactment thereof for the time being in force), a remuneration amounting to INR 4,75,000/- (Rupees Four Lakh Seventy Five Thousand Only) plus applicable taxes and out of pocket expenses payable to M/s. R. Nanabhoy & Co., Cost Accountants, Mumbai (Firm registration No. 000010), appointed by the Board of Directors as Cost Auditors to conduct the audit of the cost records of the Company for the financial year ending 31st March, 2027, be and is hereby ratified and confirmed. RESOLVED FURTHER THAT any Director or the Company Secretary of the Company be and is hereby severally authorized to do all acts, deeds and things including filing of necessary forms, documents, applications and take steps as may be deemed necessary, proper or expedient to give effect to this resolution and matters incidental thereto.” Registered Office: By Order of the Board Ion House Dr. E. Moses Road Mahalaxmi, Mumbai 400 011 Nikisha Solanki CIN: L74999MH1964PLC014258 Company Secretary & Compliance Officer Mumbai, 26th May, 2026 NOTES : 1. The Ministry of Corporate Affairs (“MCA”) has vide its circulars dated April 8, 2020, April 13, 2020, May 5, 2020, January 13, 2021, December 14, 2021, May 5, 2022, December 28, 2022, September 25, 2023, September 19, 2024, September 22, 2025 (collectively referred to as “MCA Circulars”) and read with relevant circulars issued by the Securities and Exchange Board of India ("SEBI"), from time to time (referred to as “SEBI Circular”) permitted the holding of the Annual General Meeting (“AGM”) through VC/OAVM, without the physical presence of the Members at a common venue. In compliance with the provisions of the Companies Act, 2013 (“Act”), SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) MCA Circulars and SEBI Circulars, the AGM of the Company is being held through VC/OAVM. 2. Pursuant to the Circular No.14/2020 dated April 08, 2020, issued by the Ministry of Corporate Affairs, the facility to appoint proxy to attend and cast vote for the members is not available for this AGM. However, the Body Corporates are entitled to appoint authorised representatives to attend the AGM through VC/OAVM and participate there at and cast their votes through e-voting. Details of Directors seeking appointment/re-appointment as required under Regulation 36(3) of SEBI Listing Regulations and Secret [Showing first 8,000 characters — download PDF for full document]