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Ion Exchange (India) looks to double export revenue

Mumbai : Mumbai-based Ion Exchange (India) Ltd, a leading Indian water treatment and environment management company, is looking to substantially expand its export market in the next three years even as the company has commissioned a new integrated reverse osmosis (RO) membrane manufacturing plant in Goa.

The company said it hopes to gather 20 per cent market share in the next three years by the production capacity at the automated plant at the Verna Industrial Estate in south Goa, the first of its kind in the country.

Ion Exchange (India) Ltd has invested Rs 50 crore on the production facility that will manufacture eight-inch size 1000 membranes daily. The plant is expected to produce the membranes for domestic demand as well as export markets.

"This initiative will reduce dependence on imported membranes and also earn valuable foreign exchange through exports," Ion Exchange (India) Ltd CMD Rajesh Sharma said.

The integrated RO plant will prove to be of great importance for the water treatment industry and our nation, Sharma said.

The company is looking at the new plant to provide the domestic water treatment industry and global OEMs (original equipment manufacturers) a range of reverse osmosis membranes for water and wastewater applications, he added.

Sharma was quoted as saying in a news report that as against an export revenue of about 10 per cent earlier, the company's export revenue share has now gone up to 25-30 per cent of overall revenue. "We are targeting exports revenue to constitute 50 per cent of our total revenue in three years", Sharma said.

During the 2016-17 financial year, Ion Exchange (India) recorded turnover of Rs 937 crore. The company has been witnessing compounded annual growth rate (CAGR) of 10-15 per cent in turnover over the past several years.

Sharma said the company is focusing on south-east Asia, west Asia and Africa to undertake wastewater treatment and sea water desalination projects as well as to provide drinking water to communities and treated water for industries.

In addition to installing water treatment plants, the company is also enhancing its service revenue by undertaking maintenance facilities on behalf of the owners. The company is also focusing on exports of its products to the US and Europe, Sharma said.

We are exporting resins to the US. We will export more to this market as well as to Europe. We are also stepping up exports of membranes to the developed countries", he added.

Meanwhile, the company's net profit for the second quarter ended September 2017 has slipped to Rs 7.92 crore as against Rs 8.83 crore for the second quarter ended September 2016.

The company has reported net sales of Rs 226.18 crore during the September quarter as compared to Rs 214.80 crore last year.

Ion Exchange (India) Ltd's net sales were to the tune of Rs 439.91 crore during the six months period ended September 2017 as compared to Rs 421.99 crore during the first half of 2016-17. Net profit, however, during the first half of 2017-18 was Rs 15.21 crore as against Rs 16.95 crore last year.

Ion Exchange offers a range of drinking water purifiers and water conditioners for households too. The company has recently introduced the Zero B Auto Soft water softener.

The new product has an automatic softener valve, a special softener resin, a media holding vessel and a salt holding tank. The company said while installing and using, the automatic softener equipment complements well with the existing plumbing and electrical setup of a user.

The Zero B softeners can be used in water treatment in housing societies, hotels, shopping malls and corporate parks, water treatment for laundries in hotels and hospitals, pre-treatment for reverse osmosis plants and water treatment for boiler feed and cooling towers, the company said.

The primary function of water softener is to condition the incoming hard water to a softer form, which improves experience in bathing, washing, laundering while eliminating scum formation and scaling effects of hard water on appliances and bathroom accessories.

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