# eClerx Services share price today (eClerx Services Ltd, NSE: ECLERX)

> eClerx Services share price today: ₹1,562.30 at the NSE close on 4 November 2026, down 27.0% in a year. eClerx Services (NSE: ECLERX) is worth ₹14,691 crore, trades at a P/E of 20.3 and has closed between ₹1,332.40 and ₹2,416.10 over the past 52 weeks. > eClerx Services Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. ECLERX · IT Enabled Services · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/eclerx-services-ltd

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## Key numbers

- Business trend: Mixed, from the last 12 quarters
- Price: ₹1,562.30 (−27.0% in a year)
- P/E: 20.3× (higher than 67% of the last 11 years)
- Revenue (Sep 2026): ₹1,189 Cr (+18.3% on a year ago)
- Profit (Sep 2026): ₹181 Cr (−1.1% on a year ago)
- Operating margin: 24.0% (−3.0 points on a year ago)
- ROCE: 34%, FY26
- ROIC: 33.5%, against a 12.0% cost of capital: +21.5 points

The main question: yearly earnings per share moved +32.2% while the share price moved −27.0%. ## What is the eClerx Services share price today? eClerx Services Ltd's share price was ₹1,562.30 at the close on 4 November 2026. It has been rising for 9 weeks. That is 13.1% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹1,332 and ₹2,416, and at that close it sat 21% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 2 weeks running. Over the last 11 years the share price moved +256% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 23 October 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at eClerx Services this quarter? Three changes stood out: revenue up on a year earlier for 12 quarters in a row (every quarter we can compare), highest quarterly revenue in 16 quarters and operating margin down 3 points on a year earlier. 1. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare) In the September 2026 quarter revenue was ₹1,189 crore, +18.3% on a year earlier. 2. Highest quarterly revenue in 16 quarters Revenue of ₹1,189 crore in the September 2026 quarter is the highest of the last 16 quarters. 3. Operating margin down 3 points on a year earlier 24% in the September 2026 quarter, from 27%. ## What are eClerx Services' latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), eClerx Services reported revenue of ₹1,189 crore, up 18.3% from ₹1,005 crore a year earlier, and a profit of ₹181 crore, down 1.1% from ₹183 crore. ### eClerx Services results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹1,189 crore | ₹1,005 crore | +18.3% |
| Profit | ₹181 crore | ₹183 crore | −1.1% |
| Earnings per share | ₹19.18 | ₹19.22 | −0.2% |
| Operating margin | 24.0% | 27.0% | −3.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). eClerx Services' management discussed these results on a call held on 29 October 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the eClerx Services share price history? eClerx Services closed at ₹1,562.30 on 4 November 2026, down 27.0% from ₹2,139.75 a year earlier (7 November 2025) and up 96.6% over five years. Its highest weekly close since March 2016 was ₹2,416.10 on 5 December 2025. ### eClerx Services share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹1,556.70 | +0.4% |
| 1 month ago · 1 Oct 2026 | ₹1,802.90 | −13.3% |
| 6 months ago · 8 May 2026 | ₹1,668.70 | −6.4% |
| 1 year ago · 7 Nov 2025 | ₹2,139.75 | −27.0% |
| 3 years ago · 3 Nov 2023 | ₹983.45 | +58.9% |
| 5 years ago · 4 Nov 2021 | ₹794.57 | +96.6% |
| 10 years ago · 4 Nov 2016 | ₹499.77 | +212.6% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹438.25 | +256.5% |
| Highest weekly close since March 2016, also the 52-week high · 5 Dec 2025 | ₹2,416.10 | −35.3% |
| Lowest weekly close since March 2016 · 27 Mar 2020 | ₹124.59 | +1,154.0% |
| 52-week low (weekly close) · 1 Jul 2026 | ₹1,332.40 | +17.3% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (563 weekly closes from 11 March 2016 to 4 November 2026.)

## What is the latest news on eClerx Services? 4 Nov 2026: eClerx Services closed at ₹1,562.30, up 0.4% on the week and down 13.3% on the month. 29 Oct 2026: eClerx Services held its results call for July to September 2026. Management guided: CDMO revenue growth 40%-50% over last year in FY27, on track reaffirmed. ### Earlier

- Results for July to September 2026: Revenue up 18.3% and profit down 1.1% on a year earlier. - 21 Aug 2026: ex-date for a dividend of ₹1 a share. - 13 Mar 2026: Bonus issue: 1 new share for every 1 held (ex-date). ## What dividend does eClerx Services pay? eClerx Services paid ₹1 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.06% at the ₹1,562.30 close on 4 November 2026. The last was a dividend of ₹1 a share, ex-date 21 August 2026. ### eClerx Services dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 21 Aug 2026 | ₹1 | Dividend | same day |
| 22 Aug 2025 | ₹1 | Dividend | same day |
| 6 Sep 2024 | ₹1 | Dividend | n/a |
| 31 Aug 2023 | ₹1 | Dividend | n/a |
| 19 Aug 2022 | ₹1 | Dividend | 22 Aug 2022 |
| 15 Sep 2021 | ₹1 | Dividend | n/a |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. eClerx Services Ltd paid out 1% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years. (From the NSE corporate-actions record, read 5 November 2026.)

## What did eClerx Services management say on the latest results call? On the call for July to September 2026, held on 29 October 2026, eClerx Services' management guided: CDMO revenue growth 40%-50% over last year in FY27, on track reaffirmed. > “We remain on track to achieve our target of 40%-50% revenue growth over last year in this business segment.”
> Rashesh Gogri, on the call for July to September 2026

### What management guided

- CDMO ambition ₹1,000 crore or 100 million whichever first over medium term. - Xanthine full capacity by end FY27, Atali 1A-1B fully used in H2FY27 and Block 2 commercial in H2FY28. - full-year volume up around 15% with next-year output 7,500-8,000 toward 90% use peaking near 8,800. - API plus intermediate ₹180-200 crore quarterly base in H2 with 10%-15% yearly growth on new validations. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/4870-29-Oct-2026.pdf). (From the call for July to September 2026, 29 October 2026.)

## What to watch in eClerx Services' next results? When eClerx Services reports October to December 2026, these are the 3 checks that show whether the story is still on course. First: Atali 1B capitalization versus flagged timeline - confirm commissioning update and trial-batch progress for early-work line. - What to check (from the call)
- Atali 1B capitalization versus flagged timeline - confirm commissioning update and trial-batch progress for early-work line. - CDMO H2 ramp versus flagged full-year growth goal - track quarterly conversion and campaign execution. - Xanthine dispatch normalization versus spillover flagged - check volumes and allied mix in next print. ## Which stock lists is eClerx Services on? eClerx Services is on 2 of our India lists: Small & mid cap stocks and IT stocks. - [Small & mid cap stocks Size rank in India: 439](https://www.sectoralpha.in/small-cap-stocks-india)
- [IT stocks Market value (₹ crore): 14693.668850774075](https://www.sectoralpha.in/sectors/it-stocks-india)

## Is eClerx Services profitable? eClerx Services Ltd earned ₹181 Cr of net profit in the Sep 2026 quarter, −1.1% on the same quarter a year earlier. Full-year FY26 profit was ₹706 Cr. Over 10 years profit has grown 7.5% a year on average. That is 15.2% of the quarter's revenue. The same quarter a year earlier earned ₹183 Cr. For the full year, FY26 profit was ₹706 Cr (+30.5% on the year before). Why profit moved: revenue changed +18.3% on a year earlier and the margin moved −3.0 percentage points. Sales did the work while the margin got thinner. On average over the last four quarters, profit changed +19.7% and revenue +22.5%. Profit and revenue are moving at about the same pace. ## How much revenue does eClerx Services make, and is it growing? eClerx Services Ltd reported ₹1,189 Cr of revenue in the Sep 2026 quarter, +18.3% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 12.1% a year on average. The last full year, FY26, came in at ₹4,117 Cr. The last four reported quarters add to ₹4,518 Cr. FY26 revenue was ₹4,117 Cr, +22.3% on the year before. Recent pace: the last four quarters grew +22.5% on average, against 12.1% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +22.4%, against +20.1% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +18.2%, against +18.1% a year (stabilising). ## How much of every ₹100 of sales does eClerx Services keep? eClerx Services Ltd's operating margin was 24.0% in the Sep 2026 quarter, 3.0 percentage points lower than the same quarter a year ago. Across 13 years it has been between 22.0% and 42.0%. The latest quarter is within that range. Why the margin moved: operating margin changed −2.8 percentage points on the year while gross margin changed +0.0 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales. ## Is eClerx Services' profit turning into cash? Over the last 3 years, 117% of eClerx Services Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹873 Cr of operating cash against ₹706 Cr of profit. After ₹260 Cr of spending on assets, ₹613 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 117% of profit came in as cash: the cash cycle got 22 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. What to look at next: the bigger use of cash is spending on new assets, at 1.6× depreciation over three years. The next section checks what that spending is building. ## Where does eClerx Services' cash go? eClerx Services Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 90 days in FY26, up from 68 days in FY21. It spent ₹707 Cr on assets over the last 3 years. At FY26 sales of ₹4,117 Cr, each day of that cycle ties up about ₹11.3 Cr, so roughly ₹1,015 Cr is tied up in the business at any time. Spending on assets: ₹707 Cr over the last 3 years, against ₹442 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹5.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is eClerx Services' P/E ratio, and how does it compare with its own history? eClerx Services Ltd's P/E is 20.3×, in the middle of its own history: higher than 67% of past readings. Its usual P/E (the middle reading) is 17.5×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +32.2% while the price moved −27.0%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved +14.5% a year; about +20.1% a year came from earnings growth and about −5.6 percentage points from the multiple (the market paying less); over 10 years the price moved +12.1% a year; about +9.6% a year came from earnings growth and about +2.5 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple. ## Is the eClerx Services business getting better or worse? eClerx Services Ltd's business is giving mixed signals. There is no clear direction across the growth lines, with ROCE falling at 31.3%; each line tells part of the story. This is based on 12 quarters of 4 measures. Why it matters: when the lines disagree, each line above matters more than any single label. ## How much does eClerx Services earn on its capital? eClerx Services Ltd earned a ROCE of 34% in FY26. That is up from a low of 21% in FY20. Its return on capital used (ROIC) is 21.5 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 17.1% net margin and 1.12× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 17.1% net margin × 1.12× asset turnover × 1.44× leverage (assets divided by equity) ≈ 27.6% on equity. The margin does most of the work; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 33.5% − 12.0% = +21.5 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. A gap this wide means each rupee put back into the business creates more than a rupee of value. The 33.5% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 40.1%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does eClerx Services have too much debt? eClerx Services Ltd has total debt of ₹511 Cr against shareholder equity of ₹2,918 Cr as of Sep 2026, so its debt is 0.18× its equity, which is very little. Year by year, that ratio went from 0.10 in FY22 to 0.15 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the eClerx Services shareholding pattern? No group of eClerx Services Ltd's owners changed its stake by a full percentage point over the last two years. Foreign institutions moved −0.6 points over the same period, to 9.7%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Promoters: +0.7 points over 8 quarters, to 54.5%; Foreign institutions: −0.6 points over 8 quarters, to 9.7%; Domestic institutions: +0.3 points over 8 quarters, to 24.5%. ## How far is eClerx Services from balance-sheet trouble? For eClerx Services Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does eClerx Services rank in its industry? 58.0 out of 100, rank 3 of 12 in IT Enabled Services, with 100% of the evidence available. eClerx Services Ltd scores 58.0 out of 100 against the 12 companies it is compared with in IT Enabled Services, ranking 3. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 21.7 + 20.9 + 10.2 + 5.2 = 58. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is eClerx Services compared with? eClerx Services ranks 3 of 12 IT Enabled Services companies on the 4-Factor Sector Score, with 58.0 out of 100. 1. [Alldigi Tech Ltd](https://www.sectoralpha.in/stocks/alldigi-tech-ltd) ALLDIGI · turning · Most evidence points up · 85% evidence 72.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.6/35 · Revenue 6.1% · Profit 31.9% · Operating margin change 6 points · 100% evidence Capital efficiency 20.7/25 · ROCE 27.9% · Operating margin 30% · 100% evidence Valuation 15.5/20 · P/E 12.5× · PEG 0.62 · 100% evidence Relative strength 11.5/20 · Lead over its industry n/a · Lead over NIFTY 500 6.7% · 1 year -6% · 25% evidence · 1 of 12 weeks ahead Exact sum: 24.6 + 20.7 + 15.5 + 11.5 = 72.3 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Firstsource Solutions Ltd](https://www.sectoralpha.in/stocks/firstsource-solutions-ltd) FSL · losing its lead · Most evidence points up · 100% evidence 69.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.1/35 · Revenue 20.3% · Profit 7.9% · Operating margin change 1 points · 100% evidence Capital efficiency 17.4/25 · ROCE 16.8% · Operating margin 17% · 100% evidence Valuation 11.1/20 · P/E 24.3× · PEG 0.81 · 100% evidence Relative strength 18.1/20 · Lead over its industry 12.8% · Lead over NIFTY 500 12.2% · 1 year -17.2% · 100% evidence · 7 of 12 weeks ahead Exact sum: 23.1 + 17.4 + 11.1 + 18.1 = 69.7 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 3. eClerx Services Ltd this page ECLERX · quiet · Evidence leans up · 100% evidence 58.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.7/35 · Revenue 22.4% · Profit 18.2% · Operating margin change -3 points · 100% evidence Capital efficiency 20.9/25 · ROCE 34.4% · Operating margin 24% · 100% evidence Valuation 10.2/20 · P/E 20.2× · PEG 0.85 · 100% evidence Relative strength 5.2/20 · Lead over its industry -10.2% · Lead over NIFTY 500 -10.8% · 1 year -34.1% · 100% evidence · 10 of 12 weeks ahead Exact sum: 21.7 + 20.9 + 10.2 + 5.2 = 58 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [One Point One Solutions Ltd](https://www.sectoralpha.in/stocks/one-point-one-solutions-ltd) ONEPOINT · breaking out · Evidence leans up · 89% evidence 56.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.7/35 · Revenue 52.3% · Profit 32.4% · Operating margin change 1 points · 88% evidence Capital efficiency 10.6/25 · ROCE 9.6% · Operating margin 23% · 100% evidence Valuation 3.8/20 · P/E 41.5× · PEG 3.95 · 65% evidence Relative strength 20.0/20 · Lead over its industry 34.8% · Lead over NIFTY 500 34.8% · 1 year 54.9% · 100% evidence · 6 of 12 weeks ahead Exact sum: 21.7 + 10.6 + 3.8 + 20 = 56.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [IRIS Regtech Solutions Ltd](https://www.sectoralpha.in/stocks/iris-regtech-solutions-ltd) IRIS · Evidence leans up · 76% evidence 55.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.0/43.75 · Revenue 18.6% · Profit 100% · Operating margin change -6.1 points · 88% evidence Capital efficiency 7.8/31.25 · ROCE 10.6% · Operating margin -5.1% · 100% evidence Valuation 18.7/25 · P/E 37.8× · PEG 0.69 · 100% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 29 + 7.8 + 18.7 = 55.5 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: There is no relative-strength reading for this week, so the score is built from earnings, capital efficiency and valuation alone. 6. [Happiest Minds Technologies Ltd](https://www.sectoralpha.in/stocks/happiest-minds-technologies-ltd) HAPPSTMNDS · quiet · Evidence leans up · 81% evidence 54.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.0/35 · Revenue 11.5% · Profit 16.8% · Operating margin change 2 points · 88% evidence Capital efficiency 16.3/25 · ROCE 13.3% · Operating margin 19% · 100% evidence Valuation 13.9/20 · P/E 19.3× · PEG 1.4 · 100% evidence Relative strength 7.8/20 · Lead over its industry n/a · Lead over NIFTY 500 -20% · 1 year -42.3% · 25% evidence · 3 of 12 weeks ahead Exact sum: 16 + 16.3 + 13.9 + 7.8 = 54 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Aurum Proptech Ltd](https://www.sectoralpha.in/stocks/aurum-proptech-ltd) AURUM · quiet · Evidence leans up · 74% evidence 54.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.6/35 · Revenue 72.5% · Profit 100% · Operating margin change 4.1 points · 74% evidence Capital efficiency 7.5/25 · ROCE 1.3% · Operating margin 26% · 100% evidence Valuation 8.5/20 · P/E 124× · PEG n/a · 15% evidence Relative strength 11.4/20 · Lead over its industry 8.1% · Lead over NIFTY 500 8.4% · 1 year 17.4% · 100% evidence · 8 of 12 weeks ahead Exact sum: 26.6 + 7.5 + 8.5 + 11.4 = 54 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [Latent View Analytics Ltd](https://www.sectoralpha.in/stocks/latent-view-analytics-ltd) LATENTVIEW · quiet · Evidence leans up · 67% evidence 53.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 17.1/35 · Revenue 20.3% · Profit 5.2% · Operating margin change -2 points · 95% evidence Capital efficiency 15.8/25 · ROCE 15.8% · Operating margin 20% · 76% evidence Valuation 13.0/20 · P/E 21.8× · PEG n/a · 50% evidence Relative strength 7.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -33.6% · 1 year -53.1% · 25% evidence · 0 of 12 weeks ahead Exact sum: 17.1 + 15.8 + 13 + 7.5 = 53.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [Route Mobile Ltd](https://www.sectoralpha.in/stocks/route-mobile-ltd) ROUTE · basing · Evidence leans down · 74% evidence 44.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 11.7/35 · Revenue 0.9% · Profit 99.5% · Operating margin change -2 points · 71% evidence Capital efficiency 14.7/25 · ROCE 17.4% · Operating margin 10% · 76% evidence Valuation 14.4/20 · P/E 7.9× · PEG n/a · 50% evidence Relative strength 4.1/20 · Lead over its industry -15% · Lead over NIFTY 500 -15.2% · 1 year -38.4% · 100% evidence · 0 of 12 weeks ahead Exact sum: 11.7 + 14.7 + 14.4 + 4.1 = 44.9 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 10. [Protean eGov Technologies Ltd](https://www.sectoralpha.in/stocks/protean-egov-technologies-ltd) PROTEAN · breaking out · Evidence leans down · 81% evidence 42.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.8/35 · Revenue 21.4% · Profit -13.3% · Operating margin change -2.8 points · 88% evidence Capital efficiency 10.8/25 · ROCE 12.7% · Operating margin 5% · 100% evidence Valuation 7.9/20 · P/E 29.9× · PEG 1.9 · 100% evidence Relative strength 11.2/20 · Lead over its industry n/a · Lead over NIFTY 500 6.5% · 1 year -25.5% · 25% evidence · 6 of 12 weeks ahead Exact sum: 12.8 + 10.8 + 7.9 + 11.2 = 42.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [RPSG Ventures Ltd](https://www.sectoralpha.in/stocks/rpsg-ventures-ltd) RPSGVENT · losing its lead · Evidence leans down · 68% evidence 41.1 out of 100 Growth Capital Valuation Relative
12. [Hinduja Global Solutions Ltd](https://www.sectoralpha.in/stocks/hinduja-global-solutions-ltd) HGS · quiet · Most evidence points down · 76% evidence 20.6 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [IT Enabled Services](https://www.sectoralpha.in/sectors/it-enabled-services), all 12 compared on one page. ## Which companies are close to eClerx Services in size? eClerx Services is the 2nd largest of 12 IT Enabled Services companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Firstsource Solutions. Just below it: Happiest Minds Technologies, Latent View Analytics, Route Mobile, RPSG Ventures and Protean eGov Technologies. ### IT Enabled Services companies close in size

1. [Firstsource Solutions Ltd](https://www.sectoralpha.in/stocks/firstsource-solutions-ltd) ₹20,709 crore
2. eClerx Services Ltd ₹14,641 crore
3. [Happiest Minds Technologies Ltd](https://www.sectoralpha.in/stocks/happiest-minds-technologies-ltd) ₹4,532 crore
4. [Latent View Analytics Ltd](https://www.sectoralpha.in/stocks/latent-view-analytics-ltd) ₹4,357 crore
5. [Route Mobile Ltd](https://www.sectoralpha.in/stocks/route-mobile-ltd) ₹2,764 crore
6. [RPSG Ventures Ltd](https://www.sectoralpha.in/stocks/rpsg-ventures-ltd) ₹2,661 crore
7. [Protean eGov Technologies Ltd](https://www.sectoralpha.in/stocks/protean-egov-technologies-ltd) ₹2,572 crore

[All 12 IT Enabled Services companies, largest first](https://www.sectoralpha.in/sectors/it-enabled-services#all-companies)

### Companies close in size in other industries

1. [Molbio Diagnostics Ltd](https://www.sectoralpha.in/stocks/molbio-diagnostics-ltd) ₹14,682 crore
2. [PVR Inox Ltd](https://www.sectoralpha.in/stocks/pvr-inox-ltd) ₹14,682 crore · Entertainment & Media
3. eClerx Services Ltd ₹14,641 crore
4. [Bayer CropScience Ltd](https://www.sectoralpha.in/stocks/bayer-cropscience-ltd) ₹14,636 crore · Pesticides/Agrochemicals
5. [Clean Max Enviro Energy Solutions Ltd](https://www.sectoralpha.in/stocks/clean-max-enviro-energy-solutions-ltd) ₹14,612 crore · Power Generation & Supply

## What else do people ask about eClerx Services? ### What is eClerx Services's share price today? eClerx Services Ltd's share price is ₹1,562.30, −27.0% over the past year. The whole company is worth ₹14,691 Cr on the market. In the last 52 weeks it traded between ₹1,332 to ₹2,416; today it is 21% of the way up from the low, 13.1% below its 200-day average (as of 4 November 2026). ### What were eClerx Services's latest quarterly results? eClerx Services Ltd reported revenue of ₹1,189 Cr and net profit of ₹181 Cr for the Sep 2026 quarter. Revenue rose 18.3% and profit fell 1.1% compared with a year earlier. Earnings per share were ₹19.18. The operating margin was 24.0%, 3.0 percentage points lower than a year earlier (as of 4 November 2026). ### What is eClerx Services's market cap? eClerx Services Ltd's market capitalisation is ₹14,691 Cr at a share price of ₹1,562.30. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is eClerx Services performing? eClerx Services Ltd's share price has been rising for 9 weeks. In its latest quarter, revenue rose 18.3% and profit fell 1.1% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 2 weeks running (as of 4 November 2026). ### Will eClerx Services's share price go up? This page does not forecast eClerx Services Ltd's share price. What it shows instead: the share price is ₹1,562.30, and it has been rising for 9 weeks. Its P/E of 20.3× is higher than 67% of its own last 11 years (as of 4 November 2026). ### Who owns eClerx Services? Promoters own 54.5% of eClerx Services Ltd, foreign institutions 9.7%, domestic institutions 24.5% and the public 8.8% (latest quarter). No group of owners changed its stake by a full point over the last two years (as of 4 November 2026). ### Does eClerx Services have too much debt? No, eClerx Services Ltd has little debt: its debt is 0.15× its equity, and its operating profit is 24 times its interest bill. FY26 borrowings were ₹385 Cr against equity of ₹2,561 Cr. So the returns on this page come from the business, not borrowed money (as of 4 November 2026). ### Where is eClerx Services in its business cycle? eClerx Services Ltd's FY26 operating margin was 26.0%, against a 13-year range of 22.0% to 42.0%: the low end of its own range, which is often where recoveries start. The latest quarter was 24.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the eClerx Services story? The main question: yearly earnings per share moved +32.2% while the share price moved −27.0%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is eClerx Services a stock worth studying right now? What the numbers show: eClerx Services Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a eClerx Services share price forecast for 2026? What management itself guided: CDMO revenue growth 40%-50% over last year in FY27, on track reaffirmed. ## Lists

- Small & mid cap stocks: https://www.sectoralpha.in/small-cap-stocks-india
- IT stocks: https://www.sectoralpha.in/sectors/it-stocks-india

This is research, not advice. We’re not SEBI-registered.