eClerx Services Limited (ECLERX) AI Stock Analysis

• Market Cap: ₹225.77B
• Dividend Yield: 0.02%
• Average Volume (3M): 4.00K
• Price to Earnings (P/E): 36.2
• Beta (1Y): 1.16
• Revenue Growth: 17.83%
• EPS Growth: 20.34%
• Country: IN
• Employees: 14,191
• Sector: Services
• Sector Strength: N/A
• 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: ₹4,200.00
• Price Target Upside: -5.55% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 74 Outperform
• Price Target: ₹5,362.00 ▲(20.58% 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.

eClerx Services Limited Business Overview & Revenue Model

Company Description

eClerx Services Limited (ECLERX) is a leading provider of knowledge process outsourcing (KPO) services, primarily catering to clients in the financial services, e-commerce, and telecommunications sectors. The company specializes in delivering a range of services including data analytics, customer support, and operational support, enabling businesses to enhance their operational efficiency and drive customer engagement. With a strong emphasis on technology and expertise, eClerx aims to empower organizations with insights and solutions that facilitate decision-making and improve overall performance.

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: Positive
• Last Price: 4446.80
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ECLERX, the sentiment is Positive. The current price of 4446.8 is below the 20-day moving average (MA) of 4467.65, above the 50-day MA of 4322.36, and above the 200-day MA of 3504.74, indicating a neutral trend. The MACD of 61.06 indicates Positive momentum. The RSI at 51.64 is Neutral, neither overbought nor oversold. The STOCH value of 46.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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	₹188.30B	40.53	―	1.56%	12.35%	8.91%
ECLERX	74 Outperform	₹225.77B	36.25	―	0.02%	17.83%	20.34%
IEX	74 Outperform	₹122.79B	26.18	―	3.23%	14.10%	19.23%
JUSTDIAL	73 Outperform	₹64.64B	11.38	―	―	6.97%	12.91%
BLS	70 Outperform	₹132.52B	23.44	―	0.31%	41.61%	44.11%
IONEXCHANG	66 Neutral	₹58.19B	22.38	―	0.41%	11.56%	-2.78%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%

eClerx Services Limited Corporate Events

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.

eClerx Services Limited Announces FY2025 Annual Report and AGM Details

eClerx Services Limited has announced the availability of its Annual Report for FY2025, accessible via a web-link and QR code for members who have not registered their email addresses. The company will hold its 25th Annual General Meeting on September 10, 2025, through video conferencing, where shareholders can participate and vote on resolutions. Additionally, a final dividend of Re. 1 per share has been declared, with a record date set for August 22, 2025, and payment to commence on or after September 10, 2025. The announcement underscores eClerx’s commitment to transparency and shareholder engagement, potentially impacting investor relations positively.

eClerx Releases 2024-25 Sustainability Report

eClerx Services Limited has released its Business Responsibility and Sustainability Report for the financial year 2024-25, in compliance with SEBI’s Listing Regulations. This report, part of the company’s annual report, underscores eClerx’s commitment to sustainable business practices and transparency, potentially enhancing its reputation and stakeholder trust in the competitive IT services sector.