eClerx Services Ltd
eClerx Services Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
The company is cautiously optimistic about continued growth in Q3 and Q4, aiming to be in the top quartile of its segment. eClerx expects continued growth momentum across most industry verticals, excluding luxury fashion, which is cautiously monitored though believed to have bottomed out (Page 17).
From eClerx Services Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- The company is cautiously optimistic about continued growth in Q3 and Q4, aiming to be in the top quartile of its segment.
- H1 FY26 saw strong growth: 17% YoY reported, 16% constant currency, reflecting successful strategy execution.
- The ACV (Annual Contract Value) of deal wins has improved significantly; company confident of higher ACV for the year than last year's INR 140-142 million.
- Strong pipeline both Q-on-Q and Y-o-Y, with good conversion rates driving growth.
- Growth is broad-based across industry verticals, except cautiousness on luxury segment which is believed to have bottomed out.
- Emerging industries contributing one-fourth of incremental revenue with focus on capabilities like F&O, order management, and customer service.
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Profitability & Margins
See what eClerx Services Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- eClerx Services Limited is focusing on investments in technology and analytics, as mentioned in the context of potential margin impacts and capability enhancements.
- The company continues to invest in hunting profiles and business development to maintain growth momentum.
- M&A (mergers and acquisitions) strategy is focused on capability-building—either horizontally across industries or vertically in white space industries where eClerx has strengths. Ideal M&A targets are those that strengthen capabilities in industries where the company currently lacks presence.
- There are ongoing investments in emerging industry segments, focusing on capabilities like F&O, order management, and customer service that have cross-industry applicability.
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Top-ranked in Commercial Services & Supplies
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- The company reported consistent improvement in Annual Contract Value (ACV) of deal wins, with ACV for the year expected to be higher than the INR 140-142 million delivered last year.
- The pipeline is described as robust and strong, both on a quarter-on-quarter and year-on-year basis.
- Growth momentum is driven by both an increase in deal win ratio and rising deal sizes.
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eClerx Services Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹1.1K Cr, net profit ₹190 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What eClerx Services Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q3 FY25 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q4 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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Frequently Asked Questions
What were eClerx Services Ltd Q2 FY26 results?
The company is cautiously optimistic about continued growth in Q3 and Q4, aiming to be in the top quartile of its segment. eClerx expects continued growth momentum across most industry verticals, excluding luxury fashion, which is cautiously monitored though believed to have bottomed out (Page 17).
What is eClerx Services Ltd share price analysis?
eClerx Services Ltd currently shows a neutral. The stock trades at a P/E of 24.8 with a market cap of ₹18,037 Cr. Investors should review the full earnings analysis for detailed insights.
Is eClerx Services Ltd planning capital expenditure?
eClerx Services Limited is focusing on investments in technology and analytics, as mentioned in the context of potential margin impacts and capability enhancements. - The company continues to invest in hunting profiles and business development to maintain growth momentum. - M&A (mergers and acquisitions) strategy is focused on capability-building—either horizontally across industries or vertically in white space industries where eClerx has strengths.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.