Q3 2026 eClerx Services Limited Earnings Call Transcript

Jan 29, 2026 / 10:30 AM GMT

Release Date Price: ₹2341.3 (+5.88%)

Transcript

Key Points

Positve

eClerx Services Ltd (BOM:532927) reported a sequential revenue growth of 5.4% in Q3, with operating revenue reaching INR121.7 million.
EBITDA for Q3 stood at INR3075 million, reflecting a strong margin of 28% and a sequential increase of 3%.
The company achieved a year-on-year operating revenue increase of 22% in Indian Rupee terms, highlighting robust growth.
eClerx Services Ltd (BOM:532927) has been recognized as a major contender in Everest Group's intelligent process automation peak metrics.
The company has successfully expanded its client base, with significant growth in the number of INR1 million-plus, INR3 million-plus, and INR5 million-plus customers.

Negative

The EBITDA margin experienced a decline of 90 basis points on a quarter-on-quarter basis due to increased sales and distribution variable payouts and higher travel and marketing costs.
There is an expectation of softer growth in Q4 compared to the first three quarters, attributed to inherent business volatility.
The company's Days Sales Outstanding (DSO) increased by about two days to 78, indicating potential challenges in cash collection.
Despite strong performance, the top 10 client concentration decreased to 60%, suggesting a potential risk of over-reliance on a few clients.
The company anticipates potential elevated losses in the next few quarters due to its current hedging strategy, which may need reevaluation.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

ECLE.NS - eClerx Services Limited
Q3 2026 eClerx Services Limited Earnings Call
Jan 29, 2026 / 10:30AM GMT

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Conference Call Participants
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* Kapil Jain
eClerx Services Limited - Group Chief Executive Officer, Managing Director, Executive Director
* Srinivasan Nadadur
Clerx Services Limited - Chief Financial Officer
* Manik Daneja
Access - Analyst
* Dipesh Mehta
Emkay Global Financial Services Ltd - Analyst
* Sandeep Shah
Equirus Securities Pvt Ltd - Equity Analyst
* Pulkit Chawla
VNK Securities. - Analyst
* Vam Shi
* Girish Pai
* Rahul Jain
Dolat Capital Market Pvt Ltd - Analyst

=====================
Presentation
--------------------------------------------------------------------------------
Operator [1]
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(audio in progress) sector and group CEO, and Srinivasan Nadadur,

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