Profit before tax fell 3.9% to Rs 102.31 crore in the quarter from Rs 106.48 crore recorded in the same period last year.

Total expenditure spiked 34.05% YoY to Rs 550.78 crore in March quarter 2023. Cost of material consumed was Rs 367.46 crore (up 41.96% YoY) while employee benefits expenses stood at Rs 64.39 crore (up 25.49% YoY) during the period under review.

On segmental front, revenue from Engineering segment grew 41.07% to Rs 452.62 in Q4 FY23 as against Rs 320.84 crore in Q4 FY22. Revenue from Chemicals segment jumped 8.26% to Rs 163.97 crore in Q4 FY23 from Rs 151.46 crore in Q4 FY22. Revenue from Consumer Products segment rose 21.14% to Rs 51.45 crore in Q4 FY23 compared with Rs 42.47 crore in n the same period a year ago.

On full year basis, the company recorded 20.6% increase in net profit to Rs 194.96 crore on an 26.2% jump in net sales to Rs 1,989.61 crore in FY23 over FY22.

Meanwhile, the board of directors of the company recommended a dividend of Rs 12.50 per equity share, for the financial year ended 31 March 2023.

Further, the board of directors has fixed the record date as 12 June 2023 for the purpose of sub-division/split of the face value of the equity shares from existing Rs 10 per equity share to Re 1 per equity share.

Ion Exchange (India) is engaged in water and environment management business. The company offers products, including ion exchange resins, water treatment plants and chemical additives. The firm's segments are engineering, chemicals and consumer products.