Ion Exchange (India) Ltd — Interim / Quarterly Report 2021

Feb 2, 2021

February 2, 2021

To, BSE Limited The Corporate Relationship Dept. P.J. Towers, Dalal Street, Mumbai - 400 001

BSE Company Code: 500214

Dear Sir,

Sub: Unaudited Financial Results on Standalone and Consolidated basis and Limited Review Report for the Third Quarter Ended 31st December, 2020

Pursuant to Regulation 33 and Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we submit herewith the Unaudited Financial Results on Standalone and Consolidated basis, Segment wise Revenue, Results and Capital Employed and Limited Review Report for the third quarter ended 31st December, 2020 which have been approved by the Board of Directors at its meeting held on 2nd February, 2021.

The meeting of the Board of Directors of the Company commenced at 11. 00 a.m. and concluded at4.00 PM.

The above information is available on the website of the Company: www.ionindia.com

Kindly take the information on record.

Thanking You,

Yours faithfully, For Ion Exch_ange (India) Limited ~

Mirdd~nik Company Secretary

ION EXCHANGE (INDIA) LTD. I GIN: L74999MH1964PLC014258

Re9d. Office: Ion House, Dr. E. Moses Road, Mahalaxmi, Mumbai - 400 011, India. Board: +91 22 3989 0909 I Fax: +91 22 2493 8737 I E-mail: ieil@ionexchange.co.in I Web: www.ionindia.com

Offices : Bengaluru I Bhubaneswar I Chand igarh I Chennai I Hyderabad I Kolkata I Lucknow I New Del hi I Pune I Vadodara I Vashi I Visakhapatnam

B S R & Co. LLP

Chartered Accountants

14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Telephone: +91 22 6257 1000

Fax: +91 22 6257 1010

Goregaon (East), Mumbai - 400 063 Limited review report on unaudited quarterly standalone financial results and standalone year- to-date results of Ion Exchange (India) Limited under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To The Board of Directors of Ion Exchange (India) Limited

• 1. We have reviewed the accompanying Statement of unaudited standalone financial results of Ion Exchange (India) Limited which includes the financial information of branch at Bengaluru and IEI Shareholding (Staff Welfare) Trusts (Sixty Trusts) ('the Company') for the quarter ended 31 December 2020 and year to date results for the period from 1 April 2020 to 31 December 2020 ("the Statement").
• 1. This Statement, which is the responsibility of the Company's management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to issue a report on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review
• Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion. 4. Based on our review conducted as above and based on the considerations of the review

We also performed procedures in accordance with the circular issued by SEBI under Regulation 33 (8) of the Listing Regulations, to the extent applicable.

reports of the branch auditor referred to in paragraph 5 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with applicable accounting standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement

Ion Exchange (India) Limited

Limited review report on unaudited quarterly standalone financial results and standalone year-to-date results of Ion Exchange (India) Limited under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Continued)

1. We did not review the interim financial information of a branch included in standalone unaudited financial results of the Company, whose results reflect total revenue (before consolidation adjustments) of Rs 2,858 lacs and Rs 6,791 lacs, total net profit after tax (before consolidation adjustments) of Rs. 201 lacs and Rs 295 lacs and total comprehensive income (before consolidation adjustments) of Rs 201 lacs and Rs 295 lacs for the quarter ended 31 December 2020 and for the period from 1 April 2020 to 31 December 2020, respectively, as considered in the interim financial information of a branch included in the Statement. The interim financial information of this branch has been reviewed by the branch auditor and whose report has been furnished to us, and our conclusion in so far as it relates to the amounts and disclosures in respect of this branch, is based solely on the report of such branch auditor and the procedures performed by us as stated in paragraph 3 above. 6. The Statement includes interim financial information of IEI shareholding (Staff welfare) comprehensive income (before consolidation adjustments) of Rs. 9 lacs and Rs 51 lacs for the

Our conclusion on the Statement is not modified in respect of the above matter.

Trusts (Sixty Trusts) which have not been reviewed, whose interim financial information reflects total revenue (before consolidation adjustments) of Rs. 9 lacs and Rs 59 lacs total net profit after tax (before consolidation adjustments) of Rs. 9 lacs and Rs 51 lacs and total quarter ended 31 December 2020 and for the period from 1 April 2020 to 31 December 2020, respectively, as considered in the statement. According to the information and explanations given to us by the management, this interim financial information is not material to the Company. Our Conclusion on the Statement is not modified in respect of the above matter.

For B S R & Co. LLP Chartered Accountants Firm's Registration No: 101248W/W-100022

BHAVESH H Digitally signed by BHAVESH H DHUPELIA DHUPELIA Date:2021.02.02 15:05:12 +05'30'

Bhavesh Dhupelia Partner Mumbai Membership No: 042070 2 February 2021 UDIN: 21042070AAAAAQ1013

ION EXCHANGE (INDIA) LIMITED

Regd Office· Ion House Dr E Moses Road Mahalaxmi Mumbai - 400 011

Particulars Quarter ended Nine months ended 31.12.2020 30.09.2020 31.12.2019 31.12.2020 31.12.2019 Unaudited Unaudited Unaudited Unaudited Unaudited Income a) Revenue from operations 33,379 37,533 37,813 96,884 107,932 b) Other income 952 930 1,042 2,682 3,302 Total income (I) 34,331 38,463 38,855 99,566 111,234 Expenses a) Cost of materials consumed 20,433 24,563 25,024 61,035 73,200 b) Purchase of stock-in-trade 850 913 1,008 2,116 2,895 c) Changes in inventories of finished goods, 250 40 (274) 597 (1,098) stock-in-trade and work-in-progress d) Employee benefits expense 3,519 10,469 11,088 3,453 3,585 e) Finance costs 211 262 350 789 997 f) Depreciation and amortisation expense 548 1,982 1,599 656 683 g) Other expenses 4,185 4,275 4,798 11,173 13,028 Total expenses (II) 30,038 34,255 35,039 88,161 101,709 Profit before tax (I - II) 4,293 4,208 3,816 11,405 9,525 111 IV Tax expense Current tax 1,180 1,225 1,025 3,150 2,475 Deferred tax 46 (137) 16 (59) 27 1,226 1,088 1,041 3,091 2,502 Net profit after tax (Ill - IV) V 3,067 3,120 2,775 8,314 7,023 VI Other comprehensive income (i) Items that will not be reclassified to profit or loss (30) (31) (21) (92) (61) (ii) Income tax relating to items that will not be reclassified 7 23 8 5 15 to profit or loss Other comprehensive income (Net of tax) (VI) (23) (23) (16) (69) (46) VII Total comprehensive income for the period (V+VI) 3,044 3,097 2,759 8,245 6,977 VIII Paid-up equity share capital (Face value Rs. 10 per share) 1,467 1,467 1,467 1,467 1,467 Other equity (excluding revaluation reserves) IX X Earnings per equity share (EPS) [Refer note 2]	Statement of Standalone Financial Results for the quarter and nine months ended 31st December 2020 INR in Lacs
	Year ended
	31.03.2020
	Audited
	140,718
	4,854
	145,572
	91,900
	4,368
	(499)
	14,859
	1,319
	2,205
	18,002
	132,154
	13,418
	3,642
	(136)
	3,506
	9,912
	(123)
	31
	(92)
	9,820
	1,467
	46,683
	81.85	58.30	67.61	22.87	25.37	24.94	a) Basic EPS (Rs.) [Not annualised]
b) Diluted EPS (Rs.) [Not annualised] 24.94 25.37 22.87 67.61 58.30	81.85

Notes

1) The above financial results which are published in accordance with Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 ('Listing Regulations') have been reviewed by the Audit Committee at a meeting held on 2nd February 2021 and approved by the Board of Directors at their meeting held on 2nd February 2021. The above results have been subjected to 'limited review' by the statutory auditors of the Company. The financial results are prepared in accordance with the Ind AS prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies.

2) Earnings per equity share includes Ind AS impact of consolidation of equity shares held by IEI Shareholding (Staff Welfare) Trusts

• for the quarter and nine months ended 31st December 2020: 2,368,939 shares

• for the quarter ended 30th September 2020: 2,368,939 shares

• for the year ended 31st March 2020: 2,368,939 shares

• for the quarter and nine months ended 31st December 2019: 2,368,939 shares.

3) Consequent to the Government of India declaring a national lockdown on 24th March 2020, the Company's business operations were affected by way of interruption in production, supply chain disruption, unavailability of personnel, closure/ lock down of production facilities, etc.

However, pursuant to the permissions/directions received from the respective local Government administration, the operations at its manufacturing locations partially resumed during the lockdown period. Currently with the phase wise lifting of the lockdown, all our manufacturing operations and offices at most of the locations are functional and are following enhanced internal safety guidelines.

The Company has assessed the potential impact of Covid-19 on its capital and financial resources, profitability, liquidity position, ability to service debt and other financing arrangements. The Company's liquidity position is adequate to meet its commitments.

The Company has also assessed the potential impact of Covid-19 on the carrying value of property, plant and equipment, right of use assets, intangible assets, investments, trade receivables, inventories, and other current assets appearing in the financial results of the Company. In developing the assumptions and estimates relating to the future uncertainties in the economic conditions because of this pandemic, the company as at the date of approval of these financial results has used internal and external sources of information and based on current estimates, expects to recover the carrying amounts of these assets. The impact of the global health pandemic may be different from that estimated as at the date of approval of these financial results and the Company will continue to closely monitor any material changes to future economic conditions.

4) The figures for the corresponding previous periods have been regrouped/ reclassified, wherever necessary, to make them comparable.

For Ion Exchange (India) Limited

RAJ ESH Digitally signed byRAJESH CHANDRABHAN g~~~fo~~B~\~ ~~:~~~ SHARMA +05'30'

Rajesh Sharma Chairman and Managing Director

Place : Mumbai Date : 2nd February 2021

B S R & Co. LLP

Chartered Accountants

14th Floor, Central B Wing and North C Wing, Western Express Highway, Telephone: +91 22 6257 1000

Fax: +91 22 6257 1010

Nesco IT Park 4, Nesco Center, Goregaon (East), Mumbai - 400 063 Limited review report on unaudited quarterly consolidated financial results and consolidated year-to-date results of Ion Exchange (India) Limited under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To The Board of Directors of Ion Exchange (India) Limited

• 1. We have reviewed the accompanying Statement of unaudited consolidated financial results of Ion Exchange (India) Limited which includes financial information of a branch at Bengaluru and IEI Shareholding (Staff Welfare) Trusts (Sixty Trusts) ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), and its share of the net profit after tax and total comprehensive income of its associates for the quarter ended 31 December 2020 and year to date results for the period from 1 April 2020 to 31 December 2020 ("the Statement"), being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations'). 2. This Statement, which is the responsibility of the Parent's management and approved by the 3. We conducted our review of the Statement in accordance with the Standard on Review
• Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.
• Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. The Statement includes the result of the entities mentioned in Annexure I 5. Based on our review conducted and procedures performed as stated in paragraph 3 above, and

We also performed procedures in accordance with the circular issued by SEBI under Regulation 33 (8) of the Listing Regulations, to the extent applicable.

• based on the consideration of the review reports of the branch auditor and other auditors referred to in paragraph 7 (i) and (ii) below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement

Ion Exchange (India) Limited

Limited review report on unaudited quarterly standalone financial results and standalone year-to-date results of Ion Exchange (India) Limited under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Continued) The Auditors of Ion Exchange Enviro Farms Limited (IEEFL), a subsidiary company, has

1. Emphasis of matter

mentioned emphasis of matter in review report in respect the matters stated below:

• The Hon'ble Supreme Court of India has dismissed the company's appeal against the order of securities appellate tribunal for refunding monies to investors with return and for winding up of scheme. Further, the company has submitted relevant details to SEBI and have initiated actions in line with the details submitted to SEBI which in December 2015 had asked the company to pre deposit amount due to farm owners and close the scheme. IEEFL submitted that it shall get discharge certificates from balance farm owners within a period of two years from March 2016. As SEBI refused to accede to Company's request, the company has preferred a fresh appeal at Securities Appellate Tribunal (SAT) on 9 February 2017 Appeal No. (I) 40 of 2017 citing practical difficulties in execution of the SEBI order for refund to all investors as investors have already received their lands/refunds as per the agreement. Appeal has already submitted by SAT and certain hearings had taken place from time to time. The appeal was heard and vide order dated 18 October 2019 SAT has dismissed the appeal. The company has filed a Review Petition before the SAT, Mumbai on 03 December 2019 for correction of factual errors in the said order. Further, based on the Legal Advice, pending final order from SAT on the Review Petition, an Appeal is filed in the Supreme Court against order of SAT on 18 February 2020. The SAT hearing was to be held on 10 September 2020 but as the Tribunal was not functioning due to COVID-19 lockdown, the hearing has been postponed to 25 November 2020. It is yet to be concluded. Further hearing has fixed on 05 February 2021 in the Supreme Court. 7. (i) We did not review interim financial information of a branch included in the Standalone reflects total revenues (before consolidation adjustments) of Rs 2,858 lacs and Rs 6,791 ■
• Maintenance expenses recoverable aggregating Rs. 263 Lacs (net of provision) considered as fully recoverable by the management from future crop sales/ land sales. In view of this no provision is considered necessary by the management. ■

Our Conclusion is not modified in respect of these matters.

• unaudited interim financial results of the Parent included in the Group, whose results lacs and, total net profit after tax (before consolidation adjustment) of Rs 201 lacs and Rs 295 lacs and total comprehensive income (before consolidation adjustment) of Rs 201 lacs and Rs 295 lacs for the quarter ended 31 December 2020 and for the period from 1 April 2019 to 31 December 2020, respectively, as considered in the standalone unaudited interim financial results of the Parent included in the Group. The interim financial information of this branch has been reviewed by the branch auditor and whose report has been furnished to us, and our conclusion in so far as it relates to the amounts and disclosures in respect of this branch, is based solely on the report of such branch auditor and the procedures performed by us as stated in paragraph 3 above.
• (ii) We did not review the interim financial information of two subsidiaries included in the Statement, whose interim financial information reflects total revenue (before consolidation adjustments) of Rs 123 lacs and Rs 168 lacs, total net loss after tax (before consolidation adjustments) of Rs 170 lacs and Rs 587 lacs and total comprehensive loss (before consolidation adjustments) of Rs. 170 lacs and Rs 588 lacs for the quarter ended 31 December 2020 and for the period from 1 April 2020 to 31 December 2020, respectively, as considered in the consolidated unaudited financial results.

Ion Exchange (India) Limited

Limited review report on unaudited quarterly standalone financial results and standalone year-to-date results of Ion Exchange (India) Limited under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Continued)

These interim financial information have been reviewed by the other auditors and whose report has been furnished to us by the management, and our conclusion on the Statement, in so far as it relates to the amounts and disclosures in respect of these subsidiaries, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above.

• (iii) The Statement includes standalone unaudited financial information of the Parent which includes the interim financial information of IEI Shareholding (Staff Welfare) Trusts (Sixty Trusts) which have not been reviewed, whose interim financial information reflects total revenue (before consolidation adjustments) of Rs 9 lacs and Rs 59 lacs, total net profit after tax (before consolidation adjustments) of Rs 9 lacs and Rs 51 lacs and total comprehensive income (before consolidation adjustments) of Rs 9 lacs and Rs 51 lacs for the quarter ended 31 December 2020 and for the period from 1 April 2020 to 31 December 2020, respectively, as considered in the respective standalone unaudited interim financial information of the Parent included in the Group. According to the information and explanations given to us by the management, this interim financial information is not material to the Group. (iv) The Statement includes fifteen subsidiaries which have not been reviewed, whose consolidation adjustments) of Rs 806 lacs and Rs 1,285 lacs for the quarter ended 31 The Statement also includes the Group's share of net profit/ (loss) after tax (before income/ (loss) (before consolidation adjustments) of Rs (11) lacs and Rs 28 lacs for the quarter ended 31 December 2020 and for the period from 1 April 2020 to 31 December
• interim financial information reflect total revenue (before consolidation adjustments) of Rs 2,806 lacs and Rs 8,542 lacs, total net profit after tax (before consolidation adjustments) of Rs 90 lacs and Rs 234 lacs and total comprehensive income (before December and for the period from 1 April 2020 to 31 December 2020, respectively, for the period from 1 April 2020 to 31 December 2020 as considered in the statement.

consolidation adjustments) of Rs (11) lacs and Rs 28 lacs and total comprehensive 2020, respectively, as considered in the consolidated unaudited financial results, in respect of four associates based on their interim financial information which have not been reviewed. According to the information and explanations given to us by the management, these interim financial information is not material to the Group.

Our Conclusion on the Statement is not modified in respect of the above matters.

For B S R & Co. LLP Chartered Accountants Firm's Registration No: 101248W/W-100022

BHAVESH H Digitallysignedby BHAVESH H DHUPELIA DHUPELIA Date:2021.02.02 15:05:33 +05'30'

Bhavesh Dhupelia Partner Mumbai Membership No: 042070 2 February 2021 UDIN: 21042070AAAAAP8082

Annexure I

Name of the Company	Relationship
Aqua Investments (India) Limited	Subsidiary
Watercare Investments (India) Limited	Subsidiary
Ion Exchange Enviro Farms Limited	Subsidiary
Ion Exchange Asia Pacific Pte Limited #	Subsidiary
IEI Environmental Management (M) Sdn. Bhd	Subsidiary
Ion Exchange LLC, USA	Subsidiary
Ion Exchange Projects and Engineering Limited	Subsidiary
Ion Exchange and Company LLC	Subsidiary
Ion Exchange Environment Management (BD) Limited	Subsidiary
Ion Exchange WTS (Bangladesh) Limited	Subsidiary
Global Composite & Structurals Limited	Subsidiary
Ion Exchange Safic Pty Ltd.	Subsidiary
Total Water Management Services (India) Limited	Subsidiary
Ion Exchange Purified Drinking Water Private Limited	Subsidiary
Ion Exchange Environment Management Limited	Subsidiary
(Earlier known as Ion Exchange Waterleau Limited) Ion Exchange Arabia for Water	Subsidiary
Aquanomics Systems Limited	Associate
IEI Water-Tech (M) Sdn. Bhd ##	Associate
Ion Exchange Financials Products Private Limited	Associate
Ion Exchange PSS Ltd ##	Associate

Includes financial statements of Ion Exchange Asia Pacific (Thailand) Limited and PT Ion Exchange Asia Pacific – step down subsidiary of Ion Exchange Asia Pacific Pte Limited

Holding through subsidiary company Ion Exchange Asia Pacific Pte Limited.

For B S R & Co. LLP

Chartered Accountants Firm's Registration No: 101248W/W-100022

Digitally signed by BHAVESH H BHAVESHH DHUPELIA DH U PELIA Date: 2021.02.02 15:05:45 +05'30'

Bhavesh Dhupelia Partner Mumbai Membership No: 042070 2 February 2021 UDIN: 21042070AAAAAP8082

ION EXCHANGE {INDIA) LIMITED Regd. Office: Ion House, Dr. E. Moses Road, Mahalaxmi, Mumbai - 400 011

	Particulars		Quarter ended			Nine months ended	INR in Lacs Year ended
		31.12.2020	30.09.2020	31.12.2019	31.12.2020	31.12.2019	31.03.2020
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
I	Revenue from operations	34,915	38,997	39,823	100,437	112,874	147,983
II	Other income	642	737	758	1,930	2,446	3,536
Ill	Total Income (1+11)	35,557	39,734	40,581	102,367	115,320	151,519
IV	Expenses
	a) Cost of materials consumed	20,656	24,893	25,421	61,748	73,487	92,351
	b) Purchase of stock-in-trade	850	913	1,008	2,116	2,895	4,368
	c) Changes in inventories of finished goods,	117	96	{204)	{132)	{999)	{186)
	work-in-progress and stock-in-trade d) Employee benefits expense	4,359	4,352	4,401	13,023	13,568	18,075
	e) Fina nee Costs	272	292	418	981	1,195	1,597
	f) Depreciation and amortisation expense	699	725	585	2,109	1,712	2,366
	g) Other expenses	4,484	4,644	5,284	12,016	14,402	19,918
	Total expenses (IV)	31,437	35,915	36,913	91,861	106,260	138,489
V	Profit before tax (Ill-IV) Share of profit of equity accounted investee	4,120 (4)	3,819	3,668	10,506	9,060	13,030
VI	{net of income tax)		36	29	18	87	44
VII	Profit before tax (V+VI)	4,116	3,855	3,697	10,524	9,147	13,074
	VIII Tax expense
	Current tax	1,196	1,322	1,046	3,297	2,585	3,747
	Deferred tax	47	{131)	20	{58)	33	{74)
		1,243	1,191	1,066	3,239	2,618	3,673
IX	Net profit after tax (VII-VIII)	2,873	2,664	2,631	7,285	6,529	9,401
X	Other Comprehensive Income
	Items that will not be reclassified to profit or loss
	{a) Remeasurement benefit of defined benefit plans	{31)	{31)	(21)	{93)	{61)	{135)
	{bl Income tax expense on remeasurement benefit of	7	8	5	23	15	31
	defined benefit plans
	Items that will be reclassified to profit or loss
	{a) Movement in foreign currency translation reserve	{119)	(9)	{57)	{182)	{65)	124
	Total Other Comprehensive Income	(143)	(32)	(73)	(252)	(111)	20
XI	Total Comprehensive Income (IX+X)	2,730	2,632	2,558	7,033	6,418	9,421
	Profit attributable to:
	Owners of the company	2,914	2,695	2,646	7,379	6,552	9,348
	Non-Controlling Interests	{41)	{31)	{15)	(94)	(23)	53
	Profit for the period	2,873	2,664	2,631	7,285	6,529	9,401
	Other Comi;irehensive Income attributable to:
	Owners of the company	(94)	(32)	{73)	(203)	{111)	20
	Non-Controlling Interests Other Comprehensive Income for the period	{49) {143)	- (32)	- {73)	{49) {252)	- {111)	- 20
	Total Comi;irehensive Income attributable to:
	Owners of the company	2,820	2,663	2,573	7,176	6,441	9,368
	Non-Controlling Interests	{90)	{31)	{15)	{143)	{23)	53
	Total Comprehensive Income for the period	2,730	2,632	2,558	7,033	6,418	9,421
XII	Paid-up equity share capital {Face value INR 10 per share)	1,423	1,423	1,423	1,423	1,423	1,423
	XIII Other equity {excluding revaluation reserves)						34,883
	XIV Earnings per equity share {EPS) {not annualised)
	[Refer note 3]
	a) Basic EPS {INR)	24.57	22.72	22.63	62.22	56.44	80.10
	b) Diluted EPS {INR)	24.57	22.72	22.63	62.22	56.44	80.10

Notes:

Place: Mumbai Date : 2nd February 2021

• 1) The consolidated financial results include the results of its subsidiaries Aqua Investments (India) Limited, Global Composites and Structurals Limited, IEI Environmental Management (Ml Sdn. Bhd., Ion Exchange And Company LLC, Ion Exchange Arabia for Water, Ion Exchange Asia Pacific Pte. Ltd. (Consolidated), Ion Exchange Enviro Farms Limited {IEEFL), Ion Exchange Environment Management (BD) Limited, Ion Exchange Environment Management Limited (Formerly known as Ion Exchange Waterleau Limited), Ion Exchange LLC, Ion Exchange Projects and Engineering Limited, Ion Exchange Purified Drinking Water Private Limited, Ion Exchange Safic Pty. Limited, Ion Exchange WTS (Bangladesh) Limited, Total Water Management Services (India) Limited and Watercare Investments (India) Limited.
• 2) The above financial results which are published in accordance with Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 ('Listing Regulations') have been reviewed by the Audit Committee at a meeting held on 2nd February 2021 and approved by the Board of Directors at their meeting held on 2nd February 2021. The above results have been subjected to 'limited review' by the statutory auditors of the Company. The financial results are prepared in accordance with the Ind AS prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies.
• 3) Earnings per equity share includes Ind AS impact of consolidation of equity shares held by IEI Shareholding (Staff Welfare) Trusts
• for the quarter and nine months ended 31st December 2020: 2,368,939 shares
• for the quarter ended 30th September 2020: 2,368,939 shares
• for the year ended 31st March 2020: 2,368,939 shares
• for the quarter and nine months ended 31st December 2019: 2,368,939 shares.
• 4) With respect to the matter with SEBI of IEEFL (a subsidiary of the Company), in accordance with the directions of the Supreme Court, IEEFL approached SEBI and explained its position vide letter dated 17th May 2013. Accordingly, IEEFL has initiated actions in line with the details submitted to SEBI. In December 2015, SEBI had asked the company to pre deposit amount due to farm owners and close the scheme. The company has submitted that it shall get discharge certificates from balance farm owners within a period of two years from March, 2016. As SEBI refused to accede to Company's request, IEEFL had preferred a fresh appeal at Securities Appellate Tribunal (SAT) on 9th February 2017 citing practical difficulties in execution of the SEBI order. The appeal was heard and vide order dated 18th October 2019, SAT has dismissed the appeal. Based on the legal advice received, IEEFL has filed review petition in the matter at SAT. Further, based on the legal advice, pending final order from SAT on the review petition, an appeal is filed in the Supreme Court against order of SAT on 18th February 2020. IEEFL does not envisage any liability on this account and including the recovery of INR 263 Lacs towards maintenance expenses. The auditors of the IEEFL has expressed emphasis of matter.
• 5) Consequent to the Government of India declaring a national lockdown on 24th March 2020, the Group's business operations were affected by way of interruption in production, supply chain disruption, unavailability of personnel, closure/ lock down of production facilities, etc.

However, pursuant to the permissions/directions received from the respective local Government administration, the operations at its manufacturing locations partially resumed during the lockdown period. Currently with the phase wise lifting of the lockdown, all our manufacturing operations and offices at most of the locations are functional and are following enhanced internal safety guidelines.

The Group has assessed the potential impact of Covid-19 on its capital and financial resources, profitability, liquidity position, ability to service debt and other financing arrangements. The Group's liquidity position is adequate to meet its commitments.

The Group has also assessed the potential impact of Covid-19 on the carrying value of property, plant and equipment, right of use assets, intangible assets, investments, trade receivables, inventories, and other current assets appearing in the financial results of the Group. In developing the assumptions and estimates relating to the future uncertainties in the economic conditions because of this pandemic, the Group as at the date of approval of these financial results has used internal and external sources of information and based on current estimates, expects to recover the carrying amounts of these assets. The impact of the global health pandemic may be different from that estimated as at the date of approval of these financial results and the Group will continue to closely monitor any material changes to future economic conditions.

6) The figures for the corresponding previous periods have been regrouped/ reclassified, wherever necessary, to make them comparable.

For Ion Exchange (India) Limited RAJ ESH Digitally signed by RAJ ESH CHANDRABHAN ~~~~f~•~Ao~ ;~~~~~ SHARMA +os·,o·

Rajesh Sharma Chairman and Managing Director

ION EXCHANGE (INDIA) LIMITED Regd. Office: Ion House, Dr. E.Moses Road, Mahalaxmi, Mumbai -400 011.

	Seg nt w ise Rev e, R lts a nd Cap ital plo yed me enu esu em
	INR in											Lacs
			Sta nda lon e					Con sol idat ed
	PAR TIC ULA RS	Qu ded arte r en		Nin e m	ont hs end ed Yea		Qu ded arte r en		Nin ont e m		hs end ed	Yea r En ded
		31. 12. 202 0	30. 09. 202 0	31. 12. 201 9	31. 12. 202 0	31. 12. 201 9	31. 03. 202 0	31. 12. 202 0	30. 09. 202 0	31. 12. 201 9	31. 12. 202 0	31. 12. 201 9	31. 03. 202 0
		Una udi ted	Una udi ted	Una udi ted	Una udi ted	Una udi ted	Aud ited	Una udi ted	Una udi ted	Una udi ted	Una udi ted	Una udi ted	Aud ited
1.	Seg nt R me eve nue
	a) E ngi ring nee	20, 393	25, 247	24,4 34	61, 835	68, 638	89, 187	21, 612	26, 345	25, 545	64, 974	71, 879	93, 857
	b) C hem ical s	11, 165	10,8 57	11,4 35	30, 565	34, 180	44, 307	11,4 82	11,2 23	12,3 28	30, 979	35, 871	46, 890
	c) C er P rod uct ons um s	2,8 52	2,2 18	3,2 26	7,0 74	9,3 31	12,5 55	2,85 2	2,2 18	3,2 30	7,0 74	9,3 39	12,5 65
	d) O the rs	-	-	-	-	-	-			2		2	2
	e) U nall ted oca	-	-	-	-	-	89						89
	Tot al	34, 410	38, 322	39, 095	99, 474	112 ,14 9	146 ,13 8	35, 946	39, 786	41, 105	103 ,02 7	117 ,09 1	153 ,40 3
	Les s: I nter nt r seg me eve nue	1,03 1	789	1,28 2	2,5 90	4,2 17	5,4 20	1,03 1	789	1,28 2	2,5 90	4,2 17	5,4 20
	Net Sa les / In e fr Ope rati com om ons	33, 379	37, 533	37, 813	96, 884	107 ,93 2	140 ,71 8	34, 915	38, 997	39, 823	100 ,43 7	112 ,87 4	147 ,98 3
2.	Seg nt R lts [Pro fit(+ ) /Lo ss( -) b efo me esu re
	tax d in tere st f ent ] an rom se gm
	a) E ngi ring nee	1,42 8	1,62 6	1,79 2	4,0 82	4,4 35	6,0 83	1,60 0	1,67 0	2,00 3	4,3 84	5,0 69	7,6 99
	b) C hem ical s	2,6 37	2,4 62	1,83 7	6,94 8	5,1 80	7,5 92	2,67 8	2,2 64	1,78 1	6,7 24	5,0 93	7,3 37
	c) C er P rod uct ons um s	(77)	(95)	(75)	(266 )	(420 )	(706 )	(65)	(84)	(76)	(23 3)	(41 9)	(70 3)
	d) O the rs	-	-	-	-	-	-	(10)	(7)	{38)	(24)	(54)	(59)
	al Tot	3,9 88	3,9 93	3,5 54	10, 764	9,1 95	12,9 69	4,2 03	3,8 43	3,6 70	10,8 51	9,6 89	14, 274
	s: i) Fin e C Les ost anc	211	262	350	789	997	1,3 19	272	292	418	981	1,19 5	1,59 7
	ii) O the allo cab le e ndi ture t r un xpe ne	347	381	233	1,00 8	1,09 2	1,48 6	431	378	157	1,13 3	1,09 6	1,85 5
	off lloc able inc una om e
	Add : In st I tere nco me	863	858	845	2,4 38	2,4 19	3,2 54	620	646	573	1,76 9	1,66 2	2,20 8
	al P rof it(+ efor tion Tot )/ L oss( -) B e T axa	4,2 93	4,2 08	3,8 16	11,4 05	9,5 25	13,4 18	4,1 20	3,8 19	3,6 68	10,5 06	9,0 60	13, 030
3.	Cap ital Em ploy ed
	( Seg nt A Seg nt L iab ilitie s) ts - me sse me
	a) E ngi ring nee	29, 980	27, 602	23, 035	29, 980	23, 035	23, 083	27, 984	25, 254	21, 615	27, 984	21, 615	21, 616
	b J C hem ical s	14,0 42	14, 168	14,3 76	14,0 42	14,3 76	16,4 89	13,5 10	13,9 19	13,7 06	13,5 10	13,7 06	15,9 65
	c) C rod er P uct ons um s the	479	790	1,15 5	479	1,15 5	999	479	790	1,15 7 987	479	1,15 7 987	1,00 1 9
	d) O rs Tot al C apit al E mpl d in Se ent s	- 44, 501	- 42, 560	- 38, 566	- 44, 501	- 38, 566	- 40, 571	959 42, 932	1,06 2 41, 025	37, 465	959 42, 932	37, 465	1,06 39, 651
	oye gm
	Add : U nall ble less ate ets oca cor por ass liab iliti ate cor por es	11,7 07	10,6 02	7,4 08	11,7 07	7,4 08	7,5 79	428	(39 6)	(3,2 13)	428	(3,2 13)	(3,1 42)
	Tot al C apit al E mpl d in Co oye mp any	56, 208	53, 162	45, 974	56, 208	45, 974	48, 150	43, 360	40, 629	34, 252	43, 360	34, 252	36, 509

Notes:

1) Segments have been identified in line with the Ind AS 108 on Segment Reporting.

For Ion Exchange (India) Limited BHAVESH H Digitally signed by RAJESH Digitally signed by RAJ ESH BHAVESH H DHUPELIA CHANDRABHAN CHANDRABHAN SHARMA DHUPELIA Date: 2021.02.02 Date: 2021.02.02 13:43:56 SHARMA +05'30' Place: Mumbai 15:07:09 +05'30' Rajesh Sharma

Date: 2nd February 2021 Chairman and Managing Director