eClerx Services Limited has announced its audited standalone and consolidated financial results for the financial year ended March 31, 2026. The Board of Directors approved the results at a meeting held on May 13, 2026, with the results subsequently published in newspapers including Business Standard, Free Press Journal, and Navshakti on May 14, 2026, pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board also recommended a final dividend of ₹1 per equity share of ₹10 each for the fiscal year, subject to shareholder approval at the ensuing Annual General Meeting. The statutory auditors, M/s. Price Waterhouse Chartered Accountants LLP, issued an unmodified opinion on the audited financial results for both standalone and consolidated statements. In a separate regulatory filing dated May 14, 2026, the company also disclosed the upload of the audio recording of its earnings call held on May 14, 2026, pertaining to the financial results for the quarter/period ended March 31, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The recording is accessible on the company's website.

Consolidated Financial Performance

For the full year ended March 31, 2026, eClerx Services reported strong growth across key financial metrics on a consolidated basis. Operating revenue for FY26 was ₹41,170 million, compared to ₹33,659 million in the prior year, reflecting a YoY increase of 22.3%. Total revenue including other income for the year was ₹42,182 million. Profit after tax for FY26 was ₹7,065 million compared with ₹5,411 million in the previous year, an increase of 30.5% YoY. Total Comprehensive Income for FY26 stood at ₹7,403.87 million. FY26 constant currency (CC) growth stood at 17.0%.

For the quarter ended March 31, 2026, consolidated total income from operations was ₹11,072.87 million, compared to ₹8,982.86 million in the corresponding quarter of the prior year, a YoY increase of 23.3%. Total revenue including other income for Q4 FY26 was ₹11,371 million. Net profit after tax for Q4 FY26 was ₹1,896.51 million, compared to ₹1,525.17 million in Q4 FY25. QoQ CC growth for the quarter was 0.5%. The following table presents quarterly consolidated performance across recent periods.

Standalone Financial Performance

On a standalone basis, eClerx Services reported total income from operations of ₹28,584.54 million for the full year, compared to ₹24,315 million in the prior year. Total standalone income for the year was ₹29,483 million versus ₹24,954 million. Standalone profit before tax was ₹6,119.99 million, up from ₹4,764 million. Net profit on a standalone basis rose to ₹4,580.08 million from ₹3,595 million. The table below presents standalone quarterly and annual performance.

Key Financial Metrics and Capital Actions

Consolidated basic EPS for the year improved to ₹76.23 from ₹57.1 in the prior year, and diluted EPS rose to ₹74.42 from ₹56.0. Reserves (excluding Revaluation Reserve) as shown in the audited balance sheet of the previous year stood at ₹24,693.68 million. During the year, the company completed a buyback of 625,000 equity shares of ₹10 each at a revised buyback price of ₹4,800 per share, for a total buyback amount of ₹3,000 million. The settlement date for the buyback was January 2, 2026. Additionally, shareholders approved the issuance of bonus equity shares in a 1:1 ratio via postal ballot, the result of which was announced on March 6, 2026. Consequently, 47,025,359 fully paid-up equity shares were issued and paid-up equity share capital increased by ₹470.25 million.

Financial Position and Cash Flow

As of March 31, 2026, consolidated total shareholder's funds stood at ₹25,642 million, compared to ₹23,080 million in the prior year. Cash and cash equivalents (including deposits more than 12 months) were ₹12,811 million for FY26, up from ₹10,508 million in FY25. Net operating cash flow for FY26 was ₹8,735 million versus ₹6,546 million in FY25. EBITDA conversion improved to 75.7% in FY26 from 73.2% in FY25. Book value per share stood at ₹278 and cash and cash equivalents per share at ₹139 for FY26.

Earnings Call Audio Recording

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, eClerx Services uploaded the audio recording of its earnings call held on May 14, 2026, covering the financial results for the quarter/period ended March 31, 2026. The disclosure was signed by Pratik Bhanushali, VP-Legal & Company Secretary, and the recording is available on the company's website for investor reference.

The Nomination and Remuneration Committee of eClerx Services Limited approved the vesting of 4,98,610 employee stock options on May 13, 2026. These options were originally granted on May 25, 2023, to eligible employees of the company and its subsidiaries under the Employee Stock Option Scheme 2022. The disclosure was made pursuant to Regulation 30 read with Schedule III Part B of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Details of the ESOP Vesting

The following table summarises the key parameters of the options granted and vested under the Employee Stock Option Scheme 2022:

Pricing Formula

The exercise price for these options was determined as the lower of the following two methods:

• The latest available closing market price (at the stock exchange with the highest trading volume on the relevant date) on the date prior to the date on which the Remuneration Committee finalised the specific number of options to be granted; or
• The average of the two weeks' high and low price of the share preceding the date of grant of option on the stock exchange on which the shares of the company are listed.

Based on this formula, the options were granted at an exercise price of Rs. 709.91 per share.

Scheme Administration and Significant Terms

The Employee Stock Option Scheme 2022 is in compliance with the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The scheme is administered via an ESOP Trust, which is authorised to purchase shares from the secondary market to facilitate ESOP exercises.

Key terms governing the vested options include:

• Exercise window: Vested options can be exercised by employees within 3 years from the date of vesting, between the date of vesting and the exercise expiry date as mentioned in the letter of grant.
• Resignation/Termination: In the event of resignation or termination, all unvested options on the date of submission of resignation shall expire and stand terminated with immediate effect. All vested options as on that date shall be exercisable by the employee before the last working day with the company.
• Abandonment of employment: In the event of abandonment of employment without the company's consent, all options granted, including vested options not yet exercised, shall stand terminated with immediate effect.
• Corporate actions: The Nomination and Remuneration Committee is authorised to make fair and reasonable adjustments to the exercise price and/or the number of options that may be granted or vested in the employees in the event of any corporate action.

The intimation was submitted by Pratik Bhanushali, VP-Legal & Company Secretary of eClerx Services Limited, in compliance with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.