eClerx FY26 Net Profit Rises 30.5% to ₹7,065 Million
eClerx Services Limited reported a 30.5% YoY increase in FY26 net profit to ₹7,065 million, with operating revenue growing 22.3% to ₹41,170 million. The board recommended a final dividend of ₹1 per share. Q4 revenue stood at ₹11,072.87 million. The company completed a ₹3,000 million buyback and issued bonus shares in a 1:1 ratio. In its earnings call, management highlighted a 29% growth in EBITDA to INR 1,153 crores and new deal wins of USD 46 million in Q4. The company anticipates top quartile growth for FY27 with EBITDA margins between 24% and 28%.
*this image is generated using AI for illustrative purposes only.
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. The board also recommended a final dividend of ₹1 per equity share of ₹10 each for the fiscal year, subject to shareholder approval. The statutory auditors issued an unmodified opinion on the audited financial results. The company also disclosed the transcript of its earnings call held on May 14, 2026, pertaining to the financial results for the quarter and period ended March 31, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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%.
| Metric: | FY26 | FY25 | YoY Change |
|---|---|---|---|
| Operating Revenue (INR mm): | 41,170 | 33,659 | +22.3% |
| Total Revenue incl. Other Income (INR mm): | 42,182 | 34,524 | +22.2% |
| Operating EBITDA (INR mm): | 10,523 | 8,209 | +28.2% |
| EBITDA (INR mm): | 11,526 | 8,946 | +28.8% |
| Net Profit / PAT (INR mm): | 7,065 | 5,411 | +30.5% |
| Total Comprehensive Income (INR mm): | 7,403.87 | — | — |
| Operating EBITDA Margin: | 25.6% | 24.4% | +117 bps |
| Net Profit Margin: | 16.7% | — | — |
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%.
| Metric: | Q4 FY26 (Audited) | Q3 FY26 (Unaudited) | Q4 FY25 (Audited) |
|---|---|---|---|
| Total Income from Operations (INR mm): | 11,072.87 | 10,703.32 | 8,982.86 |
| Net Profit before Tax (INR mm): | 2,519.50 | 2,501.15 | 1,987.62 |
| Net Profit after Tax (INR mm): | 1,896.51 | 1,918.08 | 1,525.17 |
| Total Comprehensive Income (INR mm): | 1,721.57 | 2,052.44 | 1,869.92 |
| Basic EPS (₹, not annualised): | 20.47 | 20.40 | 16.19 |
| Diluted EPS (₹, not annualised): | 20.04 | 19.90 | 15.90 |
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.
| Metric: | Q4 FY26 (Audited) | Q3 FY26 (Unaudited) | Q4 FY25 (Audited) | FY26 (Audited) |
|---|---|---|---|---|
| Total Income from Operations (INR mm): | 7,659.83 | 7,361.00 | 6,417.82 | 28,584.54 |
| Profit Before Tax (INR mm): | 1,715.55 | 1,683.78 | 1,398.82 | 6,119.99 |
| Profit After Tax (INR mm): | 1,290.08 | 1,259.69 | 1,082.83 | 4,580.08 |
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.
| Capital Action: | Details |
|---|---|
| Buyback Shares: | 625,000 equity shares |
| Buyback Price: | ₹4,800 per share |
| Total Buyback Amount: | ₹3,000 million |
| Bonus Issue Ratio: | 1:1 |
| Bonus Shares Issued: | 47,025,359 |
| Increase in Paid-up Capital: | ₹470.25 million |
| Paid-up Equity Share Capital (as of March 31, 2026): | ₹920.30 million |
| Final Dividend: | ₹1 per equity share of ₹10 each |
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.
| Balance Sheet & Cash Flow Metric: | FY26 (₹ Million) | FY25 (₹ Million) |
|---|---|---|
| Total Shareholder's Funds: | 25,642 | 23,080 |
| Cash & Cash Equivalents (incl. deposits >12 months): | 12,811 | 10,508 |
| Net Operating Cash Flow: | 8,735 | 6,546 |
| EBITDA Conversion (%): | 75.7% | 73.2% |
| Book Value per Share (₹): | 278 | 246 |
| Cash per Share (₹): | 139 | 112 |
Earnings Call Transcript
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, eClerx Services disclosed the transcript of its earnings call held on May 14, 2026. Management highlighted that FY26 operating revenue was USD 469 million, up 17.9% year-on-year in dollar terms. EBITDA grew 29% to INR 1,153 crores, with margins expanding meaningfully. Net profit rose 30% to INR 706 crores. The company reported new deal wins for Q4 of USD 46 million. Management noted that Analytics and automation is now a USD 90 million book and that the company secured its first large-scale Agentic AI win in Q4, with deployments planned for Q1 FY27. For FY27, the company expects to be in the top quartile of growth and maintain an EBITDA margin range of 24% to 28%. The transcript is available on the company's website.
Source: None/Company/INE738I01010/acbb58ffdb694814.pdf
Historical Stock Returns for eClerx Services
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.35% | -7.85% | -0.63% | -42.18% | -19.49% | +235.78% |
How will eClerx's first large-scale Agentic AI win translate into revenue contribution and margin impact in FY27, and what is the pipeline for similar deals?
Given the company's guidance to be in the 'top quartile of growth' for FY27, which specific verticals or geographies are expected to be the primary growth drivers?
With the Analytics and automation book reaching USD 90 million, what is management's target size for this segment over the next 2-3 years and how does it affect the overall service mix?
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