eClerx Services Limited
₹1,556.70-₹103.60 (-6.2%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹21,910 Cr
- P/E
- 55.5x
- EV / EBITDA
- 38.9x
- Revenue
- ₹2,432 Cr
- Net margin
- 17.0%
- ROCE
- 30.3%
Price chart
Technical chartScreen technicals →-34.0% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -14.4%
- 3M
- -18.3%
- 6M
- +9.0%
- 1Y
- -34.0%
- 5Y
- +96.1%
52-week range
Day change -₹103.60 (-6.2%) from ₹1,660 to ₹1,557 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in ECLERX, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Strong 5-year net profit CAGR of 23.6%
Concerns1
- Operating margin declining for 3 consecutive years (28.0% → 25.0% → 22.0%)
Rule-based from financial data. Not advice.
About the company
eClerx Services Limited provides business process management, change management, data-driven insights, and advanced analytics services in India, the United States, the United Kingdom, Europe, and the Asia Pacific.
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eClerx Services Limited provides business process management, change management, data-driven insights, and advanced analytics services in India, the United States, the United Kingdom, Europe, and the Asia Pacific. It offers omnichannel customer support services, customer care journey mapping and insights, automated quality monitoring, workforce management, and field technical operations; digital marketing services, including omnichannel campaigns, creative production, MarTech enablement, search and media operations, and content and commerce services; and creative and content productions, such as photo/video, post-production, 3D CGI, VR/AR, digital workflows, and omnichannel delivery. The company also provides market intelligence services which include digital shelf analytics, competitor intelligence, pricing intelligence, assortment optimization, product launch, revenue and yield management, and bid management; anti-money laundering, anti-bribery and compliance, fraud detection and prevention, know your customer, compliance monitoring and audits, and regulatory reporting; and customer, marketing, sales, and operations analytics, as well as business intelligence and data visualization, and enterprise data management. In addition, it offers trade support, client lifecycle, asset servicing, settlements and clearing, and data management; and finance and accounting outsourcing services which comprise automation, procure to pay, order to cash, record to report, and specialty finance, accounting, and FP&A. Further, it provides technology services consisting of digital transformation, strategic managed, application development, and partner ecosystem services. The company serves financial services, cable and telecommunications, retail, fashion, media and entertainment, manufacturing, travel and leisure, software, and high-tech industries. eClerx Services Limited was incorporated in 2000 and is based in Mumbai, India.
- Sector
- Industrials
- Shares outstanding
- 4.8 Cr shares
- ISIN
- INE738I01010
- BSE code
- 532927
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹21,910 Cr
- P/E
- 55.5x
- P/B
- 15.0x
- EV / EBITDA
- 38.9x
- EV / Sales
- 10.5x
- P/S
- 10.5x
- Earnings yield
- 1.8%
- 52-week high
- ₹2,472.68
- 52-week low
- ₹1,322.45
Profitability
- Operating margin
- 24.7%
- Net margin
- 17.0%
- EBITDA margin
- 26.9%
- ROE
- 23.6%
- ROCE
- 30.3%
- ROA
- 17.4%
- Dividend payout
- 1.0%
- Tax rate
- 26.0%
- Other income, % of PBT
- 9.4%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹2,432 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 16.1%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 13.3%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹563 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -2.9%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 0.8%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 23.6%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹367 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 3.4%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹63.0 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 28.2%
Solvency and efficiency
- Current ratio
- 5.32
- Debt / Equity
- 0.13
- Debt / Assets
- 0.10
- Debt / EBITDA
- 0.35
- Interest coverage
- 27.26
- Financial leverage
- 1.35
- CFO / Net profit
- 1.03
- Cash / Market cap
- 4.5%
- Cash per share
- ₹206.32
- Asset turnover
- 1.02
- Fixed asset turnover
- 7.97
- Capital intensity
- 0.13
- Debtor days
- 89 days
- Cash conversion cycle
- 89 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹15 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹1,907 Cr |
| Sales | Operating profit | ₹525 Cr |
| Operating profit | Interest | ₹31 Cr |
| Operating profit | Depreciation | ₹82 Cr |
| Operating profit | Profit before tax | ₹412 Cr |
| Other income | Profit before tax | ₹64 Cr |
| Profit before tax | Tax and other | ₹116 Cr |
| Profit before tax | Net profit | ₹360 Cr |
Revenue and net profit
Revenue grew 16.1% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹1,197 Cr | ₹239 Cr |
| FY2022 | ₹1,551 Cr | ₹355 Cr |
| FY2023 | ₹1,888 Cr | ₹378 Cr |
| FY2024 | ₹2,095 Cr | ₹357 Cr |
| FY2025 | ₹2,432 Cr | ₹360 Cr |
Cash flows
FY2025: ₹434 Cr from operations, ₹650 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹248 Cr | ₹249 Cr |
| FY2022 | ₹355 Cr | ₹399 Cr |
| FY2023 | ₹355 Cr | ₹409 Cr |
| FY2024 | ₹367 Cr | ₹13 Cr |
| FY2025 | ₹434 Cr | ₹650 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹2,432 Cr+16.1%1Y
- Net profit
- ₹360 Cr+0.8%1Y
- Cash from operations
- ₹434 Cr
- Free cash flow
- ₹650 Cr+4,900.0%1Y
- Revenue CAGR, 5Y
- 13.3%
- EBITDA CAGR, 5Y
- 18.0%
- Net profit CAGR, 5Y
- 23.6%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹2,432 Cr | ₹525 Cr | — | ₹360 Cr | ₹434 Cr | ₹650 Cr | 26.5% | +16.1% | +0.8% |
Monthly returns
Month-by-month returns of ECLERX across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹2,043 Cr |
| Equity capital | ₹47 Cr |
| Reserves | ₹1,311 Cr |
| Borrowings | ₹262 Cr |
| Other liabilities | ₹424 Cr |
| Assets | ₹2,043 Cr |
| Fixed assets | ₹353 Cr |
| Capital work in progress | ₹0 Cr |
| Investments | ₹667 Cr |
| Other assets | ₹1,023 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
ECLERX trades at 55.5x earnings against a peer median of 38.3x (a 45% premium).
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| eClerx Services LimitedECLERXthis companyP/E ↑ premium | ₹21,910 Cr | 55.5x | 15.0x | 23.6% | 38.9x |
| IRB Infrastructure Developers LimitedIRB | ₹24,693 Cr | 27.4x | 1.6x | 8.0% | 20.1x |
| HBL ENGINEERING LIMITEDHBLENGINE | ₹23,438 Cr | 35.8x | 12.0x | 21.9% | 57.2x |
| Timken India LtdTIMKEN | ₹22,941 Cr | 50.4x | 8.3x | 16.2% | 36.9x |
| Firstsource Solutions Ltd.FSL | ₹22,755 Cr | 53.1x | 8.7x | 13.3% | 46.6x |
| Redington LimitedREDINGTON | ₹21,342 Cr | 15.2x | 4.5x | 29.8% | 13.7x |
| Jyoti CNC Automation LimitedJYOTICNC | ₹21,278 Cr | 60.7x | 9.6x | 8.0% | 75.1x |
| Inox Wind LimitedINOXWIND | ₹19,897 Cr | 33.8x | 3.3x | -7.0% | -530.2x |
| Welspun Corp LimitedWELCORP | ₹19,531 Cr | 26.0x | 4.1x | 13.4% | 20.7x |
| Peer median | — | 38.3x | 5.2x | 15.2% | 25.8x |
Year-to-date ROI
ECLERX since 1 January, against earlier years.
Historical volatility
ECLERX's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 30.0% |
| FY2022 | 34.0% |
| FY2023 | 28.0% |
| FY2024 | 25.0% |
| FY2025 | 22.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹2,432 Cr |
| Costs | |
| Interest | ₹31 Cr |
| Expenses | ₹1,906 Cr |
| Operating profitOperating Profit | ₹525 Cr |
| Other income and charges | |
| Profit before tax | ₹476 Cr |
| Tax | |
| Net profitNet Profit | ₹360 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹2,043 Cr |
| Equity capitalEquity Capital | ₹47 Cr |
| Reserves | ₹1,311 Cr |
| Borrowings | ₹262 Cr |
| Other liabilitiesOther Liabilities | ₹424 Cr |
| AssetsTotal Assets | ₹2,043 Cr |
| Fixed assetsFixed Assets | ₹353 Cr |
| Capital work in progressCWIP | ₹0 Cr |
| Investments | ₹667 Cr |
| Other assetsOther Assets | ₹1,023 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹434 Cr |
| Investing cash flowCash from Investing Activity | ₹216 Cr |
| Financing cash flowCash from Financing Activity | -₹587 Cr |
| Change in cashNet Cash Flow | ₹63 Cr |
Learn while you research
Academy chapters picked for eClerx Services Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 55.5, learn when high multiples are justified.6 min read
- 04 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 05 Business Cycles & StocksThese cyclical sectors win and lose in different macro phases.6 min read
- 06 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read