3 Pumps and Valves Specialist, Water Treatment Solutions Provider and Wear-Resistant Castings Producer Stocks With a Strong Future Roadmap: Kirloskar Brothers, Ion Exchange (India) and AIA Engineering
- October 27, 2026
- Posted by: Ankit Jaiswal
- Category: Best Stocks
Kirloskar Brothers, Ion Exchange (India) and AIA Engineering: ROE of 10.7% to 15.8% and FY22 to FY26 revenue CAGR of 7.1% to 16.7%. Prices as of 26 Oct 2026.
Quick Answer
The three pump, water treatment and wear casting stocks to watch are Kirloskar Brothers, Ion Exchange (India) and AIA Engineering. Their return on equity ranges from 10.7% to 15.8%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.1% to 16.7%. AIA Engineering has the highest return on equity at 15.8%, while Ion Exchange (India) has the fastest revenue growth at 16.7% a year. Prices are based on the 26 October 2026 close, and this article is educational, not investment advice.
Pump, water treatment and wear casting stocks offer a focused view of a sector where demand keeps widening. Kirloskar Brothers, Ion Exchange (India) and AIA Engineering cover a pumps and valves specialist, a water treatment solutions provider and a wear-resistant castings producer.
This list covers three pump, water treatment and wear casting stocks with complete current figures: Kirloskar Brothers, Ion Exchange (India) and AIA Engineering. Every figure comes from the latest reported financials and the 26 October 2026 market close. Companies without complete current figures were left out.
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What Are Pump, Water Treatment and Wear Casting Stocks?
Pump, water treatment and wear casting stocks are listed industrial companies that make pumps, water treatment systems and grinding media for farms, cities, mines and cement plants. Their earnings depend on irrigation and water projects, mining and cement capacity, order books and input costs.
Pump, Water Treatment and Wear Casting Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Kirloskar Brothers | 1,562.4 | 13,186 | 35.0 | 43.0 | 15.2 | 0.10 |
| Ion Exchange (India) | 332.65 | 5,397 | 55.2 | 22.7 | 10.7 | 0.36 |
| AIA Engineering | 3,578.4 | 34,194 | 27.0 | 50.7 | 15.8 | 0.00 |
On valuation, Kirloskar Brothers and AIA Engineering trade at a P/E below the industry P/E, while Ion Exchange (India) trades above it, which reflects the growth the market already expects. Readers comparing pump, water treatment and wear casting stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Pump, Water Treatment and Wear Casting Stocks Have a Strong Roadmap in India?
Pump, water treatment and wear casting stocks have a strong roadmap in India because water supply projects, rising water needs and mining and cement capacity additions keep lifting demand for industrial products.
- Water projects. Irrigation and supply schemes need pumps.
- Water treatment. Industries and cities invest in purification.
- Mining and cement. Plants need wear-resistant mill parts.
Why Kirloskar Brothers Features Among These Pump, Water Treatment and Wear Casting Stocks
Among the pump, water treatment and wear casting stocks on this list, Kirloskar Brothers is a Pune-based maker of pumps, valves and hydro systems used in irrigation, water supply, power plants, buildings and industry. It has served customers for over a century.
In the June 2026 quarter, revenue grew 12.5% year on year to Rs 1,120 crore. Revenue rose from Rs 3,090 crore in FY22 to Rs 4,615 crore in FY26, a compound annual growth rate of 10.5%.
Net profit grew from Rs 81.5 crore in FY22 to Rs 361 crore in FY26, which works out to a compound annual growth rate of 45.1%. The company has a return on equity of 15.2%, a debt to equity ratio of 0.10 and a market capitalisation of Rs 13,186 crore. The stock trades at a P/E of 35.0, below the industry P/E of 43.0.
Roadmap: The company benefits from public spending on water supply, irrigation and urban infrastructure, and it is growing its project and aftermarket business. A deep service network supports repeat orders.
What to watch: Follow order inflows from water and irrigation projects and the share of aftermarket sales.
Why Ion Exchange (India) Features Among These Pump, Water Treatment and Wear Casting Stocks
Among the irrigation pump and purification shares on this list, Ion Exchange (India) provides water and wastewater treatment solutions, including chemicals, resins, engineering projects and consumer water purifiers, for industries, municipalities and homes.
The company has a return on equity of 10.7%, a debt to equity ratio of 0.36 and a market capitalisation of Rs 5,397 crore. The stock trades at a P/E of 55.2, above the industry P/E of 22.7.
Revenue rose from Rs 1,619 crore in FY22 to Rs 3,001 crore in FY26, a compound annual growth rate of 16.7%. Net profit for FY26 was Rs 143 crore, a net margin of 4.8%. In the June 2026 quarter, revenue grew 17.6% year on year to Rs 706 crore.
Roadmap: The company benefits from tighter water reuse and discharge norms, which lift demand for treatment plants and recycling systems. A mix of projects, chemicals and consumer products spreads its revenue.
What to watch: Track order inflows in water projects, chemicals demand and consumer product growth.
Why AIA Engineering Features Among These Pump, Water Treatment and Wear Casting Stocks
Among the three companies on this list, AIA Engineering makes high chromium wear-resistant castings used in grinding mills at cement, mining and power plants worldwide, and it sells a large share of its output to export customers.
Revenue rose from Rs 3,723 crore in FY22 to Rs 4,894 crore in FY26, a compound annual growth rate of 7.1%. Net profit grew from Rs 620 crore in FY22 to Rs 1,269 crore in FY26, which works out to a compound annual growth rate of 19.6%.
In the June 2026 quarter, revenue grew 11.4% year on year to Rs 1,279 crore. The company has a return on equity of 15.8%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 34,194 crore. The stock trades at a P/E of 27.0, below the industry P/E of 50.7.
Roadmap: The company benefits from global mining and cement activity and from the longer life its castings offer customers. A strong position in this niche supports repeat orders.
What to watch: Follow mining and cement demand, volume growth and raw material costs.
Kirloskar Brothers vs Ion Exchange (India) vs AIA Engineering on Key Financials
The table below sets the three pump, water treatment and wear casting stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| Kirloskar Brothers | 3,090 | 4,615 | 10.5% | 361 | 7.8% |
| Ion Exchange (India) | 1,619 | 3,001 | 16.7% | 143 | 4.8% |
| AIA Engineering | 3,723 | 4,894 | 7.1% | 1,269 | 25.9% |
AIA Engineering posts the highest return on equity in this group at 15.8%. AIA Engineering has the largest FY26 revenue at Rs 4,894 crore, and Ion Exchange (India) shows the fastest revenue growth with a 16.7% compound annual rate. A useful habit with pump, water treatment and wear casting stocks is to check each new quarterly result against the capacity plans the company described earlier.
The June 2026 quarter, the latest reported, gives a fresh read on momentum:
| Company | Q1 FY26 Revenue (Rs Cr) | Q1 FY27 Revenue (Rs Cr) | Year-on-Year Growth |
|---|---|---|---|
| Kirloskar Brothers | 995 | 1,120 | 12.5% |
| Ion Exchange (India) | 601 | 706 | 17.6% |
| AIA Engineering | 1,147 | 1,279 | 11.4% |
Key Risks to Check Before Investing in Pump, Water Treatment and Wear Casting Stocks
Every theme carries risks that deserve a check before any decision. For these pump, water treatment and wear casting stocks, the main points are: Long-term irrigation pump and purification shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Order timing. Project orders can shift between periods.
- Input costs. Metal and energy prices affect margins.
- Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter pump, water treatment and wear casting stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Pump, Water Treatment and Wear Casting Stocks
Pump, water treatment and wear casting stocks reward patient research into demand, execution and financial strength. Kirloskar Brothers, Ion Exchange (India) and AIA Engineering each have a clear plan to expand. Based on the 26 October 2026 close, Kirloskar Brothers trades at Rs 1,562.4, Ion Exchange (India) at Rs 332.65 and AIA Engineering at Rs 3,578.4. Valuation matters as much as growth, so compare each company’s P/E with its industry P/E before adding any of these pump, water treatment and wear casting stocks to a watchlist.
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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
What are pump, water treatment and wear casting stocks?
Ans. Pump, water treatment and wear casting stocks are listed industrial companies that make pumps, water treatment systems and grinding media for farms, cities, mines and cement plants. Their earnings depend on irrigation and water projects, mining and cement capacity, order books and input costs. This list looks at three of them, Kirloskar Brothers, Ion Exchange (India) and AIA Engineering, using reported FY22 to FY26 financials and the 26 October 2026 closing prices.
Which pump, water treatment and wear casting stocks are covered in this list?
Ans. This list covers Kirloskar Brothers, Ion Exchange (India) and AIA Engineering. Based on the 26 October 2026 close, Kirloskar Brothers traded at Rs 1,562.4, Ion Exchange (India) at Rs 332.65 and AIA Engineering at Rs 3,578.4. Their return on equity ranges from 10.7% to 15.8%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.1% to 16.7%.
Why do pump, water treatment and wear casting stocks have a strong future roadmap in India?
Ans. Pump, water treatment and wear casting stocks have a strong roadmap in India because water supply projects, rising water needs and mining and cement capacity additions keep lifting demand for industrial products. The main drivers are as follows. Water projects. Irrigation and supply schemes need pumps. Water treatment. Industries and cities invest in purification. Mining and cement. Plants need wear-resistant mill parts. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Kirloskar Brothers performed financially?
Ans. Revenue rose from Rs 3,090 crore in FY22 to Rs 4,615 crore in FY26, a compound annual growth rate of 10.5%. Net profit grew from Rs 81.5 crore in FY22 to Rs 361 crore in FY26, which works out to a compound annual growth rate of 45.1%. In the June 2026 quarter, revenue grew 12.5% year on year to Rs 1,120 crore. The company has a return on equity of 15.2%, a debt to equity ratio of 0.10 and a market capitalisation of Rs 13,186 crore. The stock trades at a P/E of 35.0, below the industry P/E of 43.0. Looking ahead, the company benefits from public spending on water supply, irrigation and urban infrastructure, and it is growing its project and aftermarket business. A deep service network supports repeat orders.
How has Ion Exchange (India) performed financially?
Ans. Revenue rose from Rs 1,619 crore in FY22 to Rs 3,001 crore in FY26, a compound annual growth rate of 16.7%. Net profit for FY26 was Rs 143 crore, a net margin of 4.8%. In the June 2026 quarter, revenue grew 17.6% year on year to Rs 706 crore. The company has a return on equity of 10.7%, a debt to equity ratio of 0.36 and a market capitalisation of Rs 5,397 crore. The stock trades at a P/E of 55.2, above the industry P/E of 22.7. Looking ahead, the company benefits from tighter water reuse and discharge norms, which lift demand for treatment plants and recycling systems. A mix of projects, chemicals and consumer products spreads its revenue.
How has AIA Engineering performed financially?
Ans. Revenue rose from Rs 3,723 crore in FY22 to Rs 4,894 crore in FY26, a compound annual growth rate of 7.1%. Net profit grew from Rs 620 crore in FY22 to Rs 1,269 crore in FY26, which works out to a compound annual growth rate of 19.6%. In the June 2026 quarter, revenue grew 11.4% year on year to Rs 1,279 crore. The company has a return on equity of 15.8%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 34,194 crore. The stock trades at a P/E of 27.0, below the industry P/E of 50.7. Looking ahead, the company benefits from global mining and cement activity and from the longer life its castings offer customers. A strong position in this niche supports repeat orders.
What risks should investors check before buying pump, water treatment and wear casting stocks?
Ans. Investors should check a few risks before buying pump, water treatment and wear casting stocks. Order timing. Project orders can shift between periods. Input costs. Metal and energy prices affect margins. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of pump, water treatment and wear casting stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 26 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.
