Ion Exchange (India) shares declined around 8% after the company reported a sharp contraction in profitability despite healthy revenue growth. Revenue rose 20% year-on-year to ₹700.5 crore, but EBITDA nearly halved to ₹31.7 crore, resulting in margins narrowing to 4.5% from 10.7% a year ago.
Net profit plunged 93% to ₹3.1 crore, while higher raw material costs weighed on earnings. The company ended FY26 with an order book of ₹2,643.3 crore.
Sheela Foam shares also slipped nearly 8% despite reporting another quarter of operational strength. The company said the benefits of the Kurl-On acquisition continued to support growth, while its e-commerce business maintained strong momentum. Mattress volumes grew 6%, with value growth of 15%, while the foam business reported 4% volume growth and 26% value growth.
Sales through the company’s website jumped 69% year-on-year, while marketplace sales rose 19%. Its overseas businesses also remained resilient, with EBITDA margins of 12.8% in Australia and 14.7% in Spain.
Automobile Corporation of Goa was the worst performer among the three, falling as much as 15%. The company delivered 2,712 bus bodies during the June quarter, marginally lower than 2,784 units a year ago, citing weaker international business due to the ongoing geopolitical situation in the Middle East.
Domestic demand remained stable, and the company said it continues to focus on operational efficiency, cost optimisation and long-term sustainable growth despite near-term uncertainty surrounding commodity prices and export demand.The company also said shareholders had approved a final dividend of ₹22.50 per equity share for FY26, which will be paid on August 20.
