eClerx Services Limited delivered a strong financial performance in FY26, with consolidated total revenue rising 22.2% year-over-year to INR 42,182 million from INR 34,524 million in the previous fiscal year. Operating revenue reached INR 41,170 million, up 22.3% YoY, while in US dollar terms, operating revenue stood at USD 468.9 million, up 17.9%. The company also completed a 1:1 bonus share issue and an INR 3,000 million buyback during the year, and the Board has proposed a final dividend of Re. 1 per share for FY26.

Consolidated Financial Performance

The following table summarises eClerx Services' consolidated and standalone financial results for FY26 versus FY25:

EBITDA rose 28.8% YoY on a consolidated basis, with the EBITDA margin expanding by approximately 132 basis points despite continued wage inflation and investment in leadership and delivery capabilities. Net operating cash flow stood at INR 8,735 million and free cash flow at INR 7,543 million, with EBITDA-to-cash conversion improving to approximately 76%.

Capital Allocation and Shareholder Returns

During FY26, eClerx Services completed a buyback of 625,000 fully paid equity shares of Rs. 10 each at a buyback price of Rs. 4,800 per share, for a total buyback amount of Rs. 3,000 million. The settlement date for the buyback was January 2, 2026. Additionally, the Stakeholders Relationship Committee allotted 4,70,25,359 fully paid-up bonus equity shares of Rs. 10 each in a 1:1 ratio on March 16, 2026. The Board has proposed a final dividend of Re. 1 per share (10%) for FY26, with a record date of Friday, August 21, 2026. The total quantum of dividend payout, if approved, will be approximately Rs. 94.05 million.

Business and Operational Highlights

eClerx Services operates across 17 countries with over 22,500 employees, serving Fortune 500 enterprises across financial services, telecom, media and entertainment, luxury, retail and fashion, and manufacturing. Total delivery headcount grew to 22,518 employees, a 16.9% increase over the previous year. The company's Analytics and Automation business crossed a USD 90 million book of business during the year. Top-ten client revenue share moderated to 61% from 64% a year ago, reflecting growing portfolio diversification.

Key operational developments during FY26 included:

• Securing the first large-scale Agentic AI enterprise engagement in Q4, with deployments planned through Q1 FY27 and beyond
• Around 8,000 employees upskilled on Generative AI in partnership with the Technical University of Munich
• Delivery centres in Lima and Cairo becoming fully operational
• Continued buildout in Fayetteville, USA
• Addition of over 1,500 seats across Mumbai, Pune, Chandigarh, and Mohali domestically, and approximately 700 seats in Manila

Key Financial Ratios (Consolidated)

The current ratio declined by more than 25%, primarily due to an increase in current liabilities including derivative liabilities and employee benefit obligations. Diluted EPS increased significantly due to a 30.5% rise in net profit and the buyback of shares during the year.

ESG and CSR Initiatives

eClerx Services invested over Rs. 100 million in CSR programmes during FY26, positively impacting approximately 42,000 beneficiaries, while employees contributed over 9,000 volunteering hours. The total CSR obligation for FY26 was Rs. 97.94 million, of which Rs. 97.75 million was spent. Approximately 70% of electricity requirements at offices in India and the Philippines are sourced from renewable energy, with 100% renewable electricity powering Mumbai and Pune operations. The company achieved ISO 14001 certification during FY25-26 and maintained its EcoVadis Silver Medal for the second consecutive year.

AGM and Corporate Governance

The 26th Annual General Meeting of eClerx Services is scheduled for Tuesday, September 8, 2026 at 12:00 noon (IST) through Video Conferencing. The AGM will consider adoption of audited financial statements for the year ended March 31, 2026, declaration of the final dividend of Re. 1 per share, and re-appointment of Mr. Anjan Malik (DIN: 01698542) as a Director retiring by rotation. The statutory auditor, M/s. Price Waterhouse Chartered Accountants LLP, issued an unqualified audit report for FY26 with no qualifications, reservations, or adverse remarks.

eClerx Services has appointed Hoshi Mistry as Principal and a member of the Executive Leadership Team, effective July 10, 2026. In this role, Mistry will lead the company’s global delivery operations for Customer Experience, reporting directly to Kapil Jain, CEO and Managing Director.

Mistry brings more than two decades of leadership experience to the position. He was among eClerx’s earliest leaders and played a key role in the company’s growth and evolution before leaving to gain leadership experience outside the organization.

Strategic Context

Kapil Jain stated that Mistry’s return marks an exciting moment for the organization. Jain noted that having helped shape eClerx during its formative years, Mistry is well positioned to lead the global delivery for Customer Experience into its next phase of growth.

Mistry expressed enthusiasm about returning at an important time in the company’s journey. He cited his belief in the strength of eClerx’s people, culture, and client-first mindset, adding that he looks forward to working with teams and clients globally to deliver operational excellence and innovation.

Company Profile

eClerx provides AI-powered analytics, digital operations services, automation, and business process management. The publicly listed company partners with Fortune 500 enterprises across financial services, telecom, media and entertainment, luxury, retail and fashion, and manufacturing. It operates across 17 countries with over 22,000 employees, serving clients in the Americas, APAC, and EMEA.