eClerx Services Limited (ECLERX) AI Stock Analysis

• Market Cap: ₹218.84B
• Dividend Yield: 0.02%
• Average Volume (3M): 4.00K
• Price to Earnings (P/E): 35.1
• Beta (1Y): 1.28
• Revenue Growth: 17.83%
• EPS Growth: 20.34%
• Country: IN
• Employees: 14,191
• Sector: Technology
• Sector Strength: 88
• Industry: Information Technology Services
• EPS (TTM): 39.00
• Shares Outstanding: 47,650,360
• 10 Day Avg. Volume: 2,318
• 30 Day Avg. Volume: 3,997
• PEG Ratio: 3.23
• Price to Book (P/B): 5.73
• Price to Sales (P/S): 3.93
• P/FCF Ratio: 24.79
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 74 Outperform
• Price Target: ₹5,362.00 ▲(12.34% Upside)

eClerx Services Limited's strong financial performance and bullish technical indicators are the primary drivers of its stock score. However, the high P/E ratio and low dividend yield suggest the stock may be overvalued, which tempers the overall score.

Positive Factors

Revenue Growth

Consistent revenue growth indicates expanding market reach and product adoption, supporting long-term business sustainability and competitiveness.

Cash Flow Generation

Strong cash flow generation enhances financial flexibility, enabling strategic investments and debt management, crucial for long-term growth.

Profit Margins

Robust profit margins reflect effective cost control and operational efficiency, supporting sustainable profitability and competitive advantage.

Negative Factors

Debt Increase

Rising debt levels can strain cash flow and limit financial flexibility, potentially impacting long-term financial stability and growth capacity.

EBITDA Margin Decline

A decline in EBITDA margin may indicate rising costs or inefficiencies, which could affect profitability if not addressed.

Volatility in Financing Cash Flows

Volatile financing cash flows can signal instability in financial strategies, potentially affecting long-term planning and investment capabilities.

eClerx Services Limited Business Overview & Revenue Model

Company Description

eClerx Services Limited provides data management, analytics, and process outsourcing services in the United States, the United Kingdom, Europe, and the Asia Pacific. The company offers customer experience solutions for business process optimization and customer interaction monitoring; field technical operations services for avoidable truck roll, dispatch services, connected homes, return merchandise authorization, and revenue assurance; omnichannel customer support services; advanced and digital analytics, and enterprise business intelligence solutions; and robotic process automation, Q-clips, workforce manager solutions, as well as chatbots and QA testing with test assure. It also provides digital solutions, such as speech and chat analytics, tag audits and implementation, data management and visualization, forecasting, personalization, social media services, A/B testing and optimization, reporting and automation, analysis and insights, and consulting and process optimization. In addition, the company offers derivative trade support, cash securities operations, regulatory compliance and data, document management, and analytics solutions, as well as technology products. It 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.

How the Company Makes Money

eClerx generates revenue through a diversified model primarily focused on services offered to its clients across various sectors. The company's key revenue streams include fees for KPO services, which involve data management, analytics, and operational support, as well as consulting services that help organizations optimize their processes. Additionally, eClerx benefits from long-term contracts and relationships with major clients, which provide a stable income base. The company also leverages technology and automation to enhance service efficiency, potentially reducing costs and increasing margins. Strategic partnerships with technology providers and industry leaders further augment its service offerings and market presence, contributing to its overall earnings.

eClerx Services Limited Financial Statement Overview

Summary

eClerx Services Limited demonstrates a strong financial position with consistent revenue growth, healthy profit margins, and effective cash flow management. The balance sheet reflects low leverage and solid equity, although the increase in debt should be watched. Overall, the company is well-positioned in the Information Technology Services industry, with potential for sustained growth and profitability.

Income Statement

eClerx Services Limited has shown strong revenue growth over the years, with a notable increase from 2024 to 2025. The gross profit margin is robust, indicating efficient cost management. The EBIT and EBITDA margins are healthy, reflecting strong operational performance. The net profit margin also remains solid, showing profitability. However, the slight decrease in EBITDA margin from 2024 to 2025 suggests a need for improved operational efficiency.

Balance Sheet

The company maintains a strong equity position with a satisfactory equity ratio, indicating financial stability. The debt-to-equity ratio is low, which suggests prudent financial leverage and effective debt management. Return on equity is commendable, showcasing effective use of shareholders' equity to generate profits. However, the increase in total debt from 2024 to 2025 requires careful monitoring to ensure continued financial health.

Cash Flow

eClerx Services Limited has experienced impressive free cash flow growth, underscoring its ability to generate cash after capital expenditures. The operating cash flow to net income ratio is strong, highlighting efficient cash conversion. Although the free cash flow to net income ratio is favorable, suggesting good cash generation relative to net income, the fluctuations in financing cash flows may indicate some volatility in financial activities.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	35.18B	33.66B	29.26B	26.48B	21.60B	15.64B
Gross Profit	12.10B	10.21B	12.06B	8.84B	9.40B	5.16B
EBITDA	9.04B	8.08B	8.61B	7.89B	6.86B	4.84B
Net Income	5.71B	5.41B	5.11B	4.89B	4.17B	2.83B
Balance Sheet
Total Assets	0.00	31.46B	29.29B	22.88B	20.70B	20.08B
Cash, Cash Equivalents and Short-Term Investments	10.26B	10.26B	10.85B	6.89B	6.79B	6.56B
Total Debt	0.00	3.58B	2.66B	1.94B	1.63B	1.75B
Total Liabilities	-23.08B	8.38B	6.79B	5.71B	5.01B	5.06B
Stockholders Equity	23.08B	23.06B	22.48B	17.15B	15.68B	15.01B
Cash Flow
Free Cash Flow	0.00	5.33B	4.59B	4.02B	3.87B	3.26B
Operating Cash Flow	0.00	6.55B	5.26B	4.93B	4.48B	3.65B
Investing Cash Flow	0.00	1.31B	-4.88B	-843.95M	379.83M	-45.25M
Financing Cash Flow	0.00	-6.10B	-1.07B	-4.40B	-4.16B	-1.88B

eClerx Services Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 4773.20
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ECLERX, the sentiment is Neutral. The current price of 4773.2 is above the 20-day moving average (MA) of 4658.70, above the 50-day MA of 4591.42, and above the 200-day MA of 3867.66, indicating a neutral trend. The MACD of 15.14 indicates Positive momentum. The RSI at 47.43 is Neutral, neither overbought nor oversold. The STOCH value of 16.57 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:ECLERX.

eClerx Services Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CAMS	74 Outperform	₹178.54B	38.43	―	1.32%	12.35%	8.91%
ECLERX	74 Outperform	₹218.84B	35.14	―	0.02%	17.83%	20.34%
JUSTDIAL	73 Outperform	₹61.26B	11.04	―	―	6.97%	12.91%
IEX	72 Outperform	₹124.21B	26.49	―	3.23%	14.10%	19.23%
BLS	70 Outperform	₹126.32B	20.97	―	0.31%	41.61%	44.11%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
IONEXCHANG	60 Neutral	₹51.55B	19.83	―	0.40%	11.56%	-2.78%

eClerx Services Limited Corporate Events

eClerx completes dispatch of offer documents for ₹3,000-million share buyback

eClerx Services Limited has announced the completion of dispatch of the Letter of Offer, along with Tender Forms and related documentation, to eligible shareholders for its share buyback programme. The buyback covers up to 625,000 fully paid equity shares with a face value of ₹10 each at a price of ₹4,800 per share, aggregating to a maximum outlay of ₹3,000 million in cash, and the company has published statutory advertisements about this process in national and regional newspapers, signalling formal progress of the capital return exercise and providing clarity to investors on the execution of the tender offer.

eClerx Announces ₹3,000 Million Share Buyback via Tender Offer

eClerx Services Limited has launched a buyback of up to 625,000 fully paid equity shares, representing about 1.31% of its paid-up share capital, at a price of ₹4,800 per share through the stock exchange tender offer route, for a total consideration of up to ₹3,000 million excluding transaction expenses. The buyback, which falls within regulatory limits and is proportionately available to all shareholders of record as of December 17, 2025, is structured with specific entitlements for small shareholders and other eligible investors and is set to run from December 22 to December 29, 2025, signaling a capital allocation move that may enhance shareholder returns and optimize the company’s capital structure.

eClerx Services Schedules Investor Meeting with Ventura Securities

eClerx Services Limited has announced a scheduled investor meeting with Ventura Securities Ltd, set for November 25, 2025. This virtual one-on-one meeting will discuss industry and company-specific developments already in the public domain, highlighting eClerx’s commitment to transparency and stakeholder engagement.

eClerx Services Limited Initiates Share Buyback via Postal Ballot

eClerx Services Limited has announced a postal ballot to seek shareholder approval for a buyback of equity shares through a tender offer. This move is part of the company’s strategy to manage its capital structure, potentially increasing shareholder value and reflecting confidence in its financial health.

eClerx Publishes Un-audited Financial Results for September 2025

eClerx Services Limited has announced the publication of its un-audited financial results for the quarter and half year ending September 30, 2025, in several newspapers including Business Standard, The Free Press Journal, and Navshakti. This announcement, in compliance with SEBI’s Listing Regulations, reflects the company’s transparency and commitment to keeping stakeholders informed about its financial performance.