eClerx Services Ltd.
NSE: ECLERXeClerx Services Ltd.: A 30-second snapshot
eClerx Services (ECLERX) is a mid-cap BPO and digital-services company trading at ₹1,668.7, reflecting a 33.19% drawdown from its 52-week high and sitting 16.4% below its 200-DMA. Five-year earnings growth of 39.3% and a trailing PE of 24.3 (forward PE: 19.6) contrast with a debt-to-equity ratio of 15.04 — unusually high for an asset-light services business. A board meeting on May 13, 2026 is scheduled to approve Q4 FY26 results and consider a final dividend.
P/E
24.3
Forward P/E
19.6
ROE
—
Debt / Equity
15.04
Profit Margin
+17.1%
Div. Yield
+0.0%
5Y ROE > 15%
4/5
5Y FCF > 0
4/5
Quality
60/100
News
8 headlines · 2 positive · 1 negative
eClerx Services Board Meeting Scheduled for May 13, 2026 to Approve Q4 FY26 Results and Consider Final Dividend - scanx.trade
scanx.trade
eClerx Services Set to Announce Q4 Results, Dividend on May 13 - Whalesbook
Whalesbook
eClerx Services - Smallcap Shock: 10 stocks crashed up to 45% in CY26 so far. Are you holding any? - The Economic Times
The Economic Times
5 Stocks Where Both FIIs and Promoters Increased Their Stakes in Q4 FY26 - Trade Brains
Trade Brains
HDFC Small Cap Fund Growth NAV, Mutual Fund Returns & Scheme History - HDFC Sky
HDFC Sky
Recent context
- ·The board is scheduled to meet on May 13, 2026 to approve Q4 FY26 results and consider a final dividend — an event that could provide updated guidance and a dividend confirmation within the next 24 hours.
- ·An Economic Times article from late April 2026 listed ECLERX among smallcap stocks down up to 45% in CY26, contextualising the sharp 3-month decline within a broader smallcap selloff rather than company-specific news.
- ·A Trade Brains report from April 2026 noted that both FIIs and promoters increased their stakes in Q4 FY26, marking one of the few instances of aligned institutional and insider accumulation in the recent period.
Strengths
- +Five-year earnings growth of 39.3% and revenue growth of 25.4% represent above-median compounding for the IT-services segment, with FCF positive in 4 of the tracked years.
- +Trailing PE of 24.3 compresses to a forward PE of 19.6, implying the market is pricing in continued near-term earnings improvement relative to current levels.
- +Quality score of 65 (ranked 1st of 6 in its assigned sector peer group) and consistency score of 71 reflect relative stability in reported financials.
- +Both FIIs and promoters were reported to have increased their stakes in Q4 FY26, suggesting insider and institutional conviction at recent price levels.
Weaknesses
- −Debt-to-equity of 15.04 with a rising debt trend is materially elevated for an asset-light BPO/services company; this ratio is atypical for the sector and warrants scrutiny of the debt composition and servicing capacity.
- −The stock is 16.4% below its 200-DMA and has declined 26.34% over 3 months, reflecting sustained intermediate-term price weakness not explained by available news flow.
- −A 52-week drawdown of 33.19% places the stock among the sharper smallcap corrections of CY26; the resistance cluster at ₹2,415–₹2,497 is 45–49% above the current price.
- −ROE data is unavailable for this run, leaving a gap in assessing return-on-capital trends; of the tracked years, only 4 show ROE above 15%, limiting trend visibility.
Open questions
- ?Does the debt-to-equity ratio of 15.04 reflect financial debt on the balance sheet, or is it inflated by lease liabilities and deferred revenue — and what does the interest coverage ratio look like against operating cash flows?
- ?Has the 39.3% five-year earnings growth been driven by operating leverage and margin expansion, or primarily by revenue scale with margins remaining flat — and does the forward PE of 19.6 reflect analyst consensus or management guidance?
- ?What proportion of revenue is concentrated in the top 3–5 clients, and how has that concentration evolved as the company scaled over the past five years?
- ?If the sector peer group (logistics and infrastructure) is a poor comparable for a BPO business, which peer set — listed Indian IT-services or global BPO peers — would provide a more meaningful valuation and quality benchmark?
Peer comparison: Services
Ranks 1 of 6 on quality| Symbol | Name | P/E | ROE | Quality |
|---|---|---|---|---|
| ECLERX | eClerx Services Ltd.You're viewing | 24.3 | — | 65 |
| Industry avg | across 5 peers | 40.7 | +15.6% | 31 |
| ADANIPORTS | Adani Ports and Special Economic Zone Ltd. | 30.3 | +15.6% | 49 |
| GMRAIRPORT | GMR Airports Ltd. | — | — | 35 |
| BLUEDART | Blue Dart Express Ltd. | 49.2 | — | 35 |
| CONCOR | Container Corporation of India Ltd. | 31.6 | — | 28 |
| INDIGO | InterGlobe Aviation Ltd. | 51.7 | — | 6 |
Technical state
Current price
₹1,668.70
SMA 50
₹1,521.05
SMA 200
₹1,996.70
RSI (14)
64.1 (neutral)
From 52w high
-33.2%
1Y return
+38.7%
3M return
-26.3%
50-DMA
Above
200-DMA
Below
Algorithmic support levels
Algorithmic resistance levels
Risk flags
- highDebt-to-equity ratio of 15.04 is elevated for a services/BPO company; this level is typical of capital-intensive or financial sectors, not asset-light IT services. Debt trend is also marked as rising, compounding the structural concern.
- mediumPrice of ₹1,668.7 is 16.4% below the 200-DMA (₹1,996.7) and has declined 26.34% over the past 3 months, indicating sustained intermediate-term selling pressure despite being above the 50-DMA.
- medium52-week drawdown of 33.19% places ECLERX among the sharper smallcap corrections of CY26; resistance cluster sits 45–49% above current price (₹2,415–₹2,497), leaving a wide gap to reclaim prior highs.
- mediumSector peer group (Adani Ports, IndiGo, CONCOR, Blue Dart, GMR Airports) consists of logistics and infrastructure names — a poor comparable set for a BPO/IT-services company. PE and quality rankings (1st of 6) derived from this cross-sector comparison carry limited interpretive weight.
- lowROE data is unavailable in this run; only 4 of the tracked years show ROE above 15%, limiting the ability to assess capital efficiency trends with confidence.
Cross-section contradictions
- Five-year earnings growth of 39.3% and revenue growth of 25.4% indicate strong fundamental momentum, yet the stock has declined 26.34% over the past 3 months and sits 33% below its 52-week high — a significant divergence between reported financials and recent price action.
- FIIs and promoters were both reported as increasing stakes in Q4 FY26, yet the stock appears in a media list of smallcap names down up to 45% in CY26 — institutional accumulation and sharp price decline occurring simultaneously.
For informational purposes only. Not investment advice. VivaTrades is not a SEBI-registered Investment Adviser or Research Analyst. Market data sourced from public feeds; consult a registered adviser before any investment decision.
Fundamentals & technicals: refreshed 24 Jun 2026 · refreshed daily at 01:00 IST
AI synthesis (narrative, snapshot, strengths/weaknesses, peer ranking): generated 12 May 2026 · rotates through NIFTY 500 every ~5 days