eClerx Services Limited has informed the Exchange about Transcript
ECLERX · price
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eClerx reported a strong Q1FY26 with operating revenue of USD 109.2 million, up 4.2% sequentially and 17.1% year-on-year, while INR revenue grew 19.5% YoY to INR 9,346 million. EBITDA margin stood at 24.8% (up 25.3% YoY but down 250 bps QoQ due to annual wage hikes and new delivery center costs) and PAT grew nearly 27% YoY to INR 1,417 million at a 15% margin. New deal wins (ACV) totalled USD 32 million for the quarter, with management expecting full-year ACV to exceed FY25's USD 140 million. EBITDA margin guidance is maintained at 24–28% and the company is confident of sequential revenue growth in Q2, though operating cash conversion dipped to 9.5% due to a temporary DSO rise (80 to 86 days) and a one-time gratuity fund contribution. Growth was broad-based across verticals except high-end Fashion & Luxury, and management flagged possible capital return action (buyback/bonus) once the 12-month mandatory window closes, along with active evaluation of M&A opportunities focused on capability and client-access synergies.
The print reflects solid execution on both top-line and margin, with a robust pipeline and reiterated margin band supporting the growth narrative; near-term watch items are the elevated DSO and weak cash conversion, but management has signalled normalisation. Positive optionality from potential buyback/bonus and M&A could be incremental triggers for the stock.