The company's share price went up 5 per cent in Monday's trade after the company bagged a Rs 343.66 crore order from Indian Oil Corporation IOCL Shares of Ion Exchange, which has a market value of Rs 4,205. 96 crore increased by 4.75 per cent to hit a new record high of Rs 2,924. 85 on the BSE. The scrip has gained 37 per cent year-to-date and is up a solid 553 per cent in the last five years.
In a filing to BSE, the company said it has been awarded a contract by IndianOil IOC for designing, engineering, manufacturing, supply, erection, testing, pre-commissioning, commissioning, performance guarantee test run and operation maintenance for five years of the Zero Liquid Discharge plant at Panipat Refinery.
As of September 30, the company had a total order book of Rs 2,795 crore, including engineering projects of Rs 1,458 crore, Sri Lanka orders of Rs 256 crore and UP SWSM of Rs 1,081 crore.
The company had a bid pipeline of 8,025 crore as of September quarter-end, the company said in an earnings presentation.
The contract value was Rs 343.36 crores including GST. The company said that the project will be commissioned within 16 months of the date of the Letter of Acceptance.
Ion Exchange India caters to various industries, institutions, and homes communities by providing waste water treatment environment solutions.
The company has seven manufacturing assembly facilities in India and one each in Bangladesh, UAE, Bahrain and Indonesia, and is headquartered in Mumbai. It is also present in other key geographies.