ION Exchange (India) Reports Flat Q1 FY25 Performance with Positive Trends in PBT and PAT.

ION Exchange (India), a midcap company in the engineering and industrial equipment industry, recently announced its financial results for the quarter ending March 2024. The company’s stock has been given a ‘Hold’ call by MarketsMOJO.

According to the financials, ION Exchange has shown a flat performance in the quarter, with a score of 0 compared to -4 in the previous 3 months. However, there are some positive trends to note. The company’s Profit Before Tax (PBT) less Other Income has grown by 31.65% year on year, reaching Rs 51.20 crore. The near-term trend for PBT is also positive. Similarly, the Profit After Tax (PAT) has grown by 35.1% year on year, reaching Rs 44.96 crore. The near-term trend for PAT is also positive. Additionally, the company’s Cash and Cash Equivalents have reached a record high of Rs 587.90 crore in the last six half-yearly periods, indicating an improvement in short-term liquidity.

However, there are some areas that need improvement. The Debtors Turnover Ratio, which measures the company’s pace of settling its debtors, has reached its lowest at 2.51 times in the last five half-yearly periods. This suggests that the company’s pace of settling its debtors has slowed down.

Overall, ION Exchange’s financial performance for the quarter ending March 2024 has been flat, with some positive trends in terms of PBT, PAT, and cash reserves. However, the company needs to work on improving its debtors turnover ratio. Investors are advised to hold their stock for now, according to MarketsMOJO.