ECLERXServices

eClerx Services Limited

Business Process Outsourcing (BPO)/ Knowledge Process Outsourcing (KPO) · ISIN INE738I01010 · BSE 532927 · NSE EQ · FV ₹10
Last price
₹1,923
-1.95%today
What this company does

eClerx Services Limited operates in Business Process Outsourcing (BPO)/ Knowledge Process Outsourcing (KPO), part of the Services sector. It booked ₹1,152 cr of revenue in its latest quarter (Q1 FY27) and kept 14.3% of sales as profit. It is the 2nd largest of 7 Business Process Outsourcing (BPO)/ Knowledge Process Outsourcing (KPO) companies we track, by market value.

Their stated vision

to build – compression, and enhanced insight generation.

In the report:
76out of 100
Equitytale Health Score
Solid

Healthier than 76% of companies in Services, on all six measures of filed financials. Each measure is ranked against the 50–116 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
51

At close. Not part of the score.

Profitability & returns85

How much profit it earns on the money it employs

Balance sheet89

How much it owes, and whether earnings cover the interest

Cash quality76

Whether reported profit actually arrives as cash

Growth & consistency74

Whether sales and profit have grown, and how steadily

Valuation26

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 23% vs last year
Profit up 16% vs last year
Promoters hold 55%
No promoter shares pledged
Strong 26% return on equity
Virtually debt-free
Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in ECLERX?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 15% a year, it would become
₹26.30 lakh

The slider starts at 15%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹1,923 -1.95%
latest close · 2026-09-17
1-year return
+155.9%
52-wk low ₹58552-wk high ₹2,062
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio26.9Average
LowAverageHigh
P/B ratio6.90High
Below bookModerateHigh
EV / EBITDA15.0Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity25.7%Strong
WeakFairStrong ▸15%
Return on capital31.2%Strong
WeakFairStrong
Net margin14.3%Decent
ThinDecentStrong
EBITDA margin24.6%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.00Comfortable
LowModerateHigh ▸1
Interest cover15.7×Strong
RiskyOkayStrong ▸5×
Current ratio3.40Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹17,682 cr
Book value
₹279
EPS
₹17.86
latest quarter
Net debt
₹-697 cr
more cash than debt
Enterprise value
₹16,985 cr
EBITDA
₹1,132 cr
annualised
EBIT
₹934 cr
annualised
Operating margin
20.3%
Return on assets
17.8%
Earnings yield
3.72%
P/S
3.84
Sales / share
₹501.3
Tax rate
24.9%
Face value
₹10
Shares
9.2 cr
Working capital
₹1,700 cr
Current assets
₹2,406 cr
Current liabilities
₹707 cr
Delivery %
39.7%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Looks overpricedMedium confidence
Median of 2 models ₹856 vs market price ₹1,923 — price is 125% above it
Safety cushion-124.7%(target ≥ +20%)
Models span ₹717₹994, midpoint ₹856
Model ₹856
Price ₹1,923
Cheap sideExpensive side

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹1,152 cr
Other Income₹18 cr
Total Income₹1,170 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹729 cr
Finance Costs₹15 cr
Depreciation & Amortisation₹50 cr
Other Expenses₹158 cr
Total Expenses₹952 cr
Profit before Tax₹219 cr
Tax Expense₹54 cr
Net Profit₹164 cr
Net margin on total income14.0%
Where the money goes · Q1 FY27
% of total income
Employee benefit expense₹729 cr62.3%
Finance costs₹15 cr1.3%
Depreciation & amortisation₹50 cr4.2%
Other expenses₹158 cr13.5%
Tax expense₹54 cr4.6%
Profit for the period₹164 cr14.0%
Total income ₹1,170 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue1,070 cr1,107 cr1,152 cr
Total income1,100 cr1,137 cr1,170 cr
Expenses850 cr885 cr952 cr
Profit before tax250 cr252 cr219 cr
Tax58 cr62 cr54 cr
Net profit (owners' share)192 cr189 cr164 cr
Net margin (owners' share, on revenue)17.9%17.1%14.3%
EPS (₹)40.8120.4717.86
YoY (latest quarter): total income +23.4% · net profit +16.0%
Balance sheet & cash flow · as of Mar 2026
Debt-free
Total assets
₹3,697 cr
Shareholder equity
₹2,561 cr
parent shareholders
Total debt
₹0 cr
Cash
₹697 cr
Cash flow · H1 FY26
Operating
₹336 cr
Investing
₹-193 cr
Financing
₹-118 cr
Peer comparison
Business Process Outsourcing (BPO)/ Knowledge Process Outsourcing (KPO) · by market value
CompanyPriceMarket capP/E
Firstsource Solutions Limited₹273₹19,035 cr28.4
eClerx Services Limitedthis company₹1,923₹17,682 cr26.9
RPSG VENTURES LIMITED₹833₹7,653 cr7.6
Hinduja Global Solutions Limited₹386₹1,797 cr
One Point One Solutions Limited₹59₹1,555 cr23.8
Alldigi Tech Limited₹785₹1,196 cr16.5
WE WIN LIMITED₹43₹102 cr
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.05%
trailing 12 months
Dividend / share (TTM)
₹1
Last dividend
₹1
ex 21 Aug 2026
ActionDetailEx-date
Dividend₹1 / share21 Aug 2026
Bonus issue1:113 Mar 2026
BuybackBuy Back17 Dec 2025
Dividend₹1 / share22 Aug 2025
Dividend₹1 / share6 Sep 2024
BuybackBuy Back4 Jul 2024
Who owns it · 2026-06-30
No pledge
Promoter
54.5%
FII / Foreign
11.0%
DII / Domestic
23.8%
Retail / others
8.4%
Promoter stake up 0.9% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtEclerx Employee Welfare · Trust16,005 · ₹3.2 cr17 Sep 26
BoughtEclerx Employee Welfare · Trust16,492 · ₹3.2 cr16 Sep 26
BoughtEclerx Employee Welfare · Trust16,428 · ₹3.2 cr15 Sep 26
Bulk / block deals
short · NSE20026 Aug 26
short · NSE125 Aug 26
short · NSE33 Aug 26
Stake changes
SoldSupriya Modi · promoter→ 0.05% · 60822 Jul 24
SoldPD Mundhra · promoter→ 26.85% · 3.21 L22 Jul 24
SoldAnjan Malik · promoter→ 26.84% · 3.21 L22 Jul 24
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 8 Sep 2026
See the official result
1
To receive, consider, approve and adopt: a. The Audited Financial Statements of the Company for the financial year ended March 31, 2026, together with the Reports of the Board of Directors and the Auditors thereon; b. The Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2026, together with the Reports of the Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
2.98 cr votes for, 164 against · 0% of mutual funds and other big investors said no
2
To declare dividend for the year ended March 31, 2026 amounting to Re. 1/- per share.
Backed by 100% of shareholders other than promotersneeded 50%
2.98 cr votes for, 164 against · 0% of mutual funds and other big investors said no
3
To appoint a Director in place of Mr. Anjan Malik (DIN: 01698542), who retires by rotation and being eligible, offers himself for re-appointment.
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 50%
2.97 cr votes for, 1.41 L against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 6 named members
owning 54.5% between them · as of 2026-06-30
PRIYADARSHAN MUNDHRA27.21%
ANJAN MALIK27.20%
VIJAY KUMAR MUNDHRA0.07%
SUPRIYA MODI0.05%
PAWAN MALIKno shares
SHWETA MUNDHRAno shares

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.