Commercial Services & Supplies
Valuation | |
|---|---|
| Market Cap | 21.87 kCr |
| Price/Earnings (Trailing) | 32.68 |
| Price/Sales (Trailing) | 5.45 |
| EV/EBITDA | 19.53 |
| Price/Free Cashflow | 36.71 |
| MarketCap/EBT | 24.8 |
| Enterprise Value | 21.28 kCr |
Fundamentals | |
|---|---|
Growth & Returns | |
|---|---|
| Price Change 1W | 7.6% |
| Price Change 1M | -0.90% |
| Price Change 6M | 22.4% |
| Price Change 1Y | 54.8% |
| 3Y Cumulative Return | 47.4% |
| 5Y Cumulative Return | 47.8% |
| 7Y Cumulative Return | 31.3% |
| 10Y Cumulative Return | 17.8% |
| Revenue (TTM) |
| 4.01 kCr |
| Rev. Growth (Yr) | 25.8% |
| Earnings (TTM) | 669.34 Cr |
| Earnings Growth (Yr) | 39.8% |
Profitability | |
|---|---|
| Operating Margin | 22% |
| EBT Margin | 22% |
| Return on Equity | 25.48% |
| Return on Assets | 18.96% |
| Free Cashflow Yield | 2.72% |
Cash Flow & Liquidity |
|---|
| Cash Flow from Investing (TTM) | 130.5 Cr |
| Cash Flow from Operations (TTM) | 654.62 Cr |
| Cash Flow from Financing (TTM) | -609.6 Cr |
| Cash & Equivalents | 594.02 Cr |
| Free Cash Flow (TTM) | 533.14 Cr |
| Free Cash Flow/Share (TTM) | 111.89 |
Balance Sheet | |
|---|---|
| Total Assets | 3.53 kCr |
| Total Liabilities | 903.38 Cr |
| Shareholder Equity | 2.63 kCr |
| Current Assets | 2.34 kCr |
| Current Liabilities | 489.27 Cr |
| Net PPE | 184.35 Cr |
| Inventory | 24.8 L |
| Goodwill | 433.5 Cr |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.00 |
| Debt/Equity | 0.00 |
| Interest Coverage | 20.42 |
| Interest/Cashflow Ops | 18.76 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 1 |
| Dividend Yield | 0.02% |
| Buy Backs (1Y) | -1.3% |
| Shares Dilution (3Y) | -7.3% |
Profitability: Very strong Profitability. One year profit margin are 17%.
Past Returns: Outperforming stock! In past three years, the stock has provided 47.4% return compared to 12.8% by NIFTY 50.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Growth: Good revenue growth. With 53.3% growth over past three years, the company is going strong.
Balance Sheet: Strong Balance Sheet.
Size: Market Cap wise it is among the top 20% companies of india.
Insider Trading: Significant insider selling noticed recently.
Smart Money: Smart money looks to be reducing their stake in the stock.
Profitability: Very strong Profitability. One year profit margin are 17%.
Past Returns: Outperforming stock! In past three years, the stock has provided 47.4% return compared to 12.8% by NIFTY 50.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Growth: Good revenue growth. With 53.3% growth over past three years, the company is going strong.
Balance Sheet: Strong Balance Sheet.
Size: Market Cap wise it is among the top 20% companies of india.
Insider Trading: Significant insider selling noticed recently.
Smart Money: Smart money looks to be reducing their stake in the stock.
Investor Care | |
|---|---|
| Dividend Yield | 0.02% |
| Dividend/Share (TTM) | 1 |
| Buy Backs (1Y) | -1.3% |
| Earnings/Share (TTM) | 142.34 |
Financial Health | |
|---|---|
| Current Ratio | 4.79 |
| Debt/Equity | 0.00 |
Technical Indicators | |
|---|---|
| RSI (14d) | 52.54 |
| RSI (5d) | 86.62 |
| RSI (21d) | 48.58 |
| MACD Signal | Buy |
| Stochastic Oscillator Signal | Hold |
| SharesGuru Signal | Buy |
| RSI Signal | Hold |
| RSI5 Signal | Sell |
| RSI21 Signal | Hold |
| SMA 5 Signal | Buy |
| SMA 10 Signal |
Summary of eClerx Services's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
During the Q2 FY26 earnings call, management provided a positive outlook, highlighting robust growth and strong performance metrics. For Q2, operating revenue reached $115.5 million, representing a 5.7% sequential increase, with INR operating revenue at INR 10,049 million, up 7.5%. EBITDA was reported at INR 2,983 million with an impressive margin of 28.8%, reflecting a 27% sequential increase. The PAT for the quarter was INR 1,832 million, with a margin of 17.7%, also up 29% sequentially.
For H1 FY26, total USD operating revenue was $225 million, showing a 17% year-over-year growth. In INR, H1 operating revenue was INR 19,394 million, up 20% year-over-year, with PAT at INR 3,249 million, increasing 29% from the previous year.
Key forward-looking points included deal wins of $46 million in Q2, driven by strong growth in analytics and automation, which was up 6% sequentially. Management expects Q3 margins to be slightly lower than in Q2 due to recent INR appreciation, but they maintain an overall margin outlook of 24% to 28% for the fiscal year.
Management noted that growth in emerging business segments was strong, particularly in finance and accounting, with a notable emphasis on client conversations in the BFSI sector. The company anticipates opportunities to grow in core businesses while managing pressures in the fashion and luxury segments, which analysts believe may be stabilizing soon.
Additionally, the board has approved a buyback plan of INR 300 crores, signaling a strategic commitment to return capital to shareholders while enhancing share value. Overall, the management's commentary was cautiously optimistic, reflecting confidence in achieving consistent growth driven by strategic initiatives and market positioning.
Understand eClerx Services ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| PRIYADARSHAN MUNDHRA | 27.21% |
| ANJAN MALIK | 27.2% |
| HDFC MUTUAL FUND - HDFC CHILDRENS FUND | 8.18% |
| NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA SMA | 3.76% |
| HSBC MUTUAL FUND - HSBC SMALL CAP FUND | 3.67% |
| DSP NIFTY SMALLCAP250 QUALITY 50 INDEX FUND | 2.38% |
| BARCLAYS WEALTH TRUSTEES INDIA PVT LTD |
Detailed comparison of eClerx Services against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Comprehensive comparison against sector averages
ECLERX metrics compared to Commercial
| Category | ECLERX | Commercial |
|---|---|---|
| PE | 32.68 | 19.84 |
| PS | 5.45 | 0.58 |
| Growth | 21.1 % | 7.1 % |
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 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; and advanced and digital analytics, and enterprise business intelligence solutions. The company also provides operations support, technology solutions, data analytics and reporting, customer experience, and consulting services; data management, analytics and insights, digital marketing operations, and creative services; and derivative trade support, cash securities operations, regulatory compliance and data, document management, analytics, and technology solutions. In addition, it provides technology products, including Roboworx, a robotic process automation solution; Q-Clips application, a customizable, online, SaaS-based repository of customer interactions used to train agents to provide customer experiences; Chatbots; workforce manager tool which offers various solutions designed to provide end-to-end and lifecycle tracking of work orders, equipment, invoicing, payroll, warehouse management, and KPIs; and quality assurance testing with webassure. 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.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
| Buy |
| SMA 20 Signal | Buy |
| SMA 50 Signal | Buy |
| SMA 100 Signal | Buy |
ECLERX vs Commercial (2021 - 2026)
1. Question: "Do you have any special project which was kind of one-timer in Q2 growth?"
Answer: There weren't any special projects that led to the growth in Q2. The growth was attributed to our ongoing efforts, and we maintain a consistent business strategy without relying on one-time gains.
2. Question: "What makes you say that we would not have similar improvement in Q3 margins?"
Answer: I noted that from September 30, the INR appreciated by about 0.5%, which could affect Q3 margins. Our focus remains on optical investments and operational efficiency, with no major headwinds expected aside from currency fluctuation.
3. Question: "Can you clarify the rationale behind the buyback price of INR 4,500?"
Answer: The buyback price announced is a minimum as per SEBI regulations. It can be subject to increase post-shareholder approval. The price reflects our strategy to return capital to shareholders while ensuring market stability.
4. Question: "Can we think mid-teen to be a new growth level for the company?"
Answer: While it's too early to label mid-teen growth as a new norm, we're cautiously optimistic given our strategy around cross-selling. We aim to position ourselves among the top quartile in our industry segment for growth.
5. Question: "Can you share your thoughts regarding growth between top 10 customers vs. emerging customers?"
Answer: The growth from non-top 10 clients has strengthened, and while we continue to focus on these accounts, our strategy allows us to grow with top clients and emerging ones. This balance mitigates risk and leverages opportunities across segments.
6. Question: "What are the notable margin headwinds you foresee?"
Answer: Currently, we don't foresee significant margin headwinds aside from potential FX impacts. Our margin strategies remain intact, and we're focused on maintaining necessary investments for sustainable growth.
7. Question: "Is the recent hiring an indicator of your growth confidence?"
Answer: Yes, the addition of around 1,000 employees in Q2 reflects our confidence in meeting client demand. This positions us well for the upcoming quarters in terms of growth and client servicing capabilities.
8. Question: "What's the growth outlook across your industry segments?"
Answer: We see positive growth prospects across most segments like BFSI, HiTech, and CMT. The only sector we are cautious about is high-end fashion, which faces ongoing macroeconomic challenges.
9. Question: "How much of the growth in emerging segments is from new clients?"
Answer: In emerging segments, growth comes from both new client additions and existing client expansion. The absolute size is small, affecting growth rates, but both factors contribute positively.
10. Question: "What differentiates your EBIT margin compared to peers?"
Answer: Our EBIT margin benefits from our technology integration and domain expertise, which enhance operational efficiency. We aim to keep margins within the established range of 24% to 28% while sustaining growth investments.
| 1.83% |
| VIJAY KUMAR MUNDHRA | 0.07% |
| SUPRIYA MODI | 0.05% |
| PAWAN MALIK | 0% |
| SHWETA MUNDHRA | 0% |
Distribution across major stakeholders
Distribution across major institutional holders
| -1.20% |
| -3.80% |
| 29.16 |
| 3.36 |
| - |
| - |
| FSL | Firstsource Solutions | 22.29 kCr | 8.8 kCr | -4.80% | -6.30% | 32.94 | 2.53 | - | - |
| CYIENT | Cyient | 12.64 kCr | 7.44 kCr | +1.80% | -16.50% | 23.09 | 1.7 | - | - |
| - |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| Total profit before tax | 2% | 250 | 245 | 188 | 199 | 184 | 188 |
| Current tax | -1.6% | 64 | 65 | 43 | 54 | 49 | 50 |
| Deferred tax | -73.5% | -6.08 | -3.08 | 3.05 | -7.54 | -2.44 | -1.49 |
| Total tax | -6.6% | 58 | 62 | 47 | 46 | 47 | 48 |
| Total profit (loss) for period | 4.9% | 192 | 183 | 142 | 153 | 137 | 140 |
| Other comp. income net of taxes | 379.7% | 13 | -3.29 | 41 | 34 | -37.32 | 16 |
| Total Comprehensive Income | 14% | 205 | 180 | 183 | 187 | 100 | 156 |
| Earnings Per Share, Basic | 4.8% | 40.81 | 39 | 30.16 | 32.37 | 29.16 | 29.66 |
| Earnings Per Share, Diluted | 4.6% | 39.79 | 38.1 | 29.64 | 31.81 | 28.56 | 29.15 |
| 28.6% |
| 82 |
| 64 |
| 59 |
| 52 |
| 50 |
| 45 |
| Other expenses | 19.4% | 826 | 692 | 568 | 422 | 364 | 395 |
| Total Expenses | 21.6% | 2,019 | 1,660 | 1,441 | 1,095 | 912 | 942 |
| Profit Before exceptional items and Tax | -0.8% | 476 | 480 | 504 | 477 | 324 | 232 |
| Exceptional items before tax | - | 0 | 0 | 0 | 0 | 0 | -48.84 |
| Total profit before tax | -0.8% | 476 | 480 | 504 | 477 | 324 | 183 |
| Current tax | 3.3% | 128 | 124 | 129 | 122 | 88 | 58 |
| Deferred tax | -506.5% | -11.19 | -1.01 | -3.46 | 0.38 | -2.18 | 1.28 |
| Total tax | -4.9% | 117 | 123 | 126 | 122 | 86 | 60 |
| Total profit (loss) for period | 0.8% | 360 | 357 | 378 | 355 | 239 | 124 |
| Other comp. income net of taxes | -232.6% | -16.24 | 14 | -22.4 | -8.72 | 43 | -41.83 |
| Total Comprehensive Income | -7.6% | 343 | 371 | 356 | 346 | 282 | 82 |
| Earnings Per Share, Basic | 2.4% | 75.87 | 74.11 | 76.45 | 70.18 | 44.86 | 22.033333 |
| Earnings Per Share, Diluted | 2.2% | 74.46 | 72.86 | 75.21 | 68.906667 | 44.686667 | 22.033333 |
| - |
| - |
| 235 |
| 0 |
| - |
| 0 |
| - |
| Non-current investments | 0% | 475 | 475 | 466 | 459 | 456 | 447 |
| Loans, non-current | - | 0 | 0 | 0 | 0 | 0 | 0 |
| Total non-current financial assets | -4.6% | 498 | 522 | 487 | 482 | 480 | 469 |
| Total non-current assets | -1.2% | 930 | 941 | 850 | 799 | 733 | 710 |
| Total assets | 7.7% | 2,200 | 2,043 | 1,772 | 2,060 | 1,772 | 1,597 |
| Total non-current financial liabilities | 6.8% | 252 | 236 | 0 | 177 | 117 | 99 |
| Provisions, non-current | - | 34 | 0 | 53 | 0 | 39 | 34 |
| Total non-current liabilities | -3.1% | 286 | 295 | 260 | 223 | 157 | 133 |
| Total current financial liabilities | 37.7% | 308 | 224 | 203 | 187 | 181 | 165 |
| Provisions, current | -20% | 77 | 96 | 68 | 85 | 59 | 82 |
| Current tax liabilities | -5.6% | 18 | 19 | 6.94 | 0.85 | 2.14 | 0.18 |
| Total current liabilities | 15.1% | 450 | 391 | 310 | 324 | 283 | 305 |
| Total liabilities | 7.3% | 736 | 686 | 570 | 548 | 440 | 438 |
| Equity share capital | 0% | 47 | 47 | 47 | 48 | 48 | 48 |
| Total equity | 7.8% | 1,464 | 1,358 | 1,202 | 1,512 | 1,333 | 1,159 |
| Total equity and liabilities | 7.7% | 2,200 | 2,043 | 1,772 | 2,060 | 1,772 | 1,597 |
| - |
| 0 |
| 0 |
| 0 |
| -3.8 |
| - |
| - |
| Net Cashflows From Operating Activities | 18.3% | 434 | 367 | 355 | 355 | - | - |
| Cashflows used in obtaining control of subsidiaries | - | 0 | 0 | 0 | 0.56 | - | - |
| Proceeds from sales of PPE | 16700% | 4.36 | 1.02 | 0.19 | 0.05 | - | - |
| Purchase of property, plant and equipment | 117.5% | 88 | 41 | 55 | 38 | - | - |
| Purchase of other long-term assets | - | 0 | 0 | 2 | 0 | - | - |
| Interest received | -35.5% | 8.09 | 12 | 5.82 | 4.18 | - | - |
| Other inflows (outflows) of cash | - | 0 | 0 | 63 | 37 | - | - |
| Net Cashflows From Investing Activities | 159.4% | 213 | -355.66 | 42 | 44 | - | - |
| Payments from changes in ownership interests in subsidiaries | - | 0 | 0 | 38 | 0 | - | - |
| Payments to acquire or redeem entity's shares | 955.6% | 476 | 46 | 296 | 383 | - | - |
| Proceeds from exercise of stock options | 107.1% | 30 | 15 | 22 | 28 | - | - |
| Payments of lease liabilities | - | 18 | 0 | 22 | 18 | - | - |
| Dividends paid | -3.1% | 4.7 | 4.82 | 3.31 | 3.42 | - | - |
| Interest paid | 66.7% | 31 | 19 | 16 | 16 | - | - |
| Other inflows (outflows) of cash | -5543.9% | -87.61 | -0.57 | -65.1 | 0 | - | - |
| Net Cashflows from Financing Activities | -631.6% | -587.1 | -79.38 | -418.74 | -392.81 | - | - |
| Effect of exchange rate on cash eq. | 592% | 2.73 | 1.25 | 12 | 0 | - | - |
| Net change in cash and cash eq. | 191.2% | 63 | -66.98 | -9.61 | 6.96 | - | - |