Rs 3,303 crore order book and FIIs & DIIs increase stake: Mukul Agrawal’s multibagger stock wins a major work order of Rs 152.46 crore!

Shares of this company have given more than 80 per cent returns in the last one year.

Indian water treatment leader, Ion Exchange, has secured a major contract worth Rs 152.46 crore from UAE's Material Construction Trading FZCO. The project involves engineering, manufacturing, delivering, installing, commissioning, and launching a desalination unit in North Africa. Ion Exchange will complete the project within 8 months of receiving the official acceptance letter. This win marks a significant expansion of the company's desalination expertise in the region.

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Ion Exchange (India) is engaged in a wide range of solutions across the water cycle from pre-treatment to process water treatment, wastewater treatment, recycling, zero liquid discharge, sewage treatment, packaged drinking water, seawater desalination, etc. Ace investor Mukul Agarwal holds a 1.02 per cent stake in the company. The stock has also delivered multibagger returns of over 300 per cent in the last three years.

The company operates in three key segments—engineering, chemical, and consumer products and has six factories in five states. Each business is managed by a dedicated team. The engineering segment plans and executes orders for the installation of large and medium-sized water and effluent treatment plants. The chemicals division manufactures ion exchange resins and industrial chemicals and sells them in India, North America, the Middle East, Europe, and Southeast Asia.

The company has a healthy order book of around Rs. 53,500 crores and FIIs and DIIs increased their stake in the company in December 2023 respectively.

Today, the stock opened at Rs 537.85, with a high and low of Rs 537.85 and Rs 528.45. The stock is currently trading at Rs 530.65, up by 1.54 per cent.  

The stock has a 52-week high of Rs 687.55 and a 52-week low of Rs 268.76. The company has a ROCE of 33.8 per cent and an ROE of 26.2 per cent, with a market capitalization of Rs 7,677 crore.

Disclaimer: The article is for informational purposes only and not investment advice.