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ION Exchange: Signs of strong recovery, earnings visibility remains good

Recovery in business and improving earnings visibility at ION Exchange are expected to support valuation

December 08, 2020 / 02:13 PM IST
ION Exchange: Signs of strong recovery, earnings visibility remains good

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Highlights - Engineering segment sees strong pick-up led by higher execution - Chemicals business remain insulated and higher utilisation to help in improving profitability - Expect strong earnings recovery in second half of current fiscal - Stock trades at good valuation ION Exchange (CMP: Rs 802;  Mcap Rs 1,177 crore), the leading player in the water and industrial pollution treatment, has seen an improvement in operating performance with project execution picking up speed and its offices and facilities starting to function post the impact of the pandemic. While...

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