eClerx Services Limited (ECLERX) Fair Value & Analysis
Technology · IN · Market cap ₹129B
Fair value as of: Aug 2, 2026
From 26 valuation models · updated 11 days ago
Share price +8.9% over the past month.
A strong business, but screening 16% overvalued on our models.
What matters now
- A high-quality business (quality 79/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- A fairly wide model range (₹1,151 to ₹2,798) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 2, 2026.
How to read this chart
60‑month range ₹331.31 – ₹2,478 · fair‑value band ₹1,151 – ₹2,798 · the ₹1,810 price screens above the ₹1,524 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 2, 2026.
Analysis
eClerx Services Limited (ECLERX) currently trades at ₹1,810, while our model-based Fair Value estimate is ₹1,524, implying the stock looks roughly 15.8% overvalued today. The Quality Score stands at 79/100 (high quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, eClerx Services Limited generated revenue of ₹41.2B at a net margin of 17.2%. Revenue grew 23.3% year over year. It earns a return on equity of 29.0%. The balance sheet holds a net cash position of ₹3.5B. Fundamentals as of Aug 2, 2026
Our scenario range runs from ₹1,151 (bear case) to ₹2,798 (bull case); at ₹1,810, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 28% below its 52-week high and 37% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -1% fair-value upside, at -16%, ECLERX screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: DCF Models (₹2,222) versus Dividend Discount (₹8.22). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 77 · Market factors (momentum, volatility) 42
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
eClerx Services Limited provides business process management, change management, data-driven insights, and advanced analytics services in India, the United States, the United Kingdom, Europe, and the Asia Pacific.
Full company description
eClerx Services Limited provides business process management, change management, data-driven insights, and advanced analytics services in India, the United States, the United Kingdom, Europe, and the Asia Pacific. It offers omnichannel customer support services, customer care journey mapping and insights, automated quality monitoring, workforce management, and field technical operations; digital marketing services, including omnichannel campaigns, creative production, MarTech enablement, search and media operations, and content and commerce services; and creative and content productions, such as photo/video, post-production, 3D CGI, VR/AR, digital workflows, and omnichannel delivery. The company also provides market intelligence services which include digital shelf analytics, competitor intelligence, pricing intelligence, assortment optimization, product launch, revenue and yield management, and bid management; anti-money laundering, anti-bribery and compliance, fraud detection and prevention, know your customer, compliance monitoring and audits, and regulatory reporting; and customer, marketing, sales, and operations analytics, as well as business intelligence and data visualization, and enterprise data management. In addition, it offers trade support, client lifecycle, asset servicing, settlements and clearing, and data management; and finance and accounting outsourcing services which comprise automation, procure to pay, order to cash, record to report, and specialty finance, accounting, and FP&A. Further, it provides technology services consisting of digital transformation, strategic managed, application development, and partner ecosystem services. The company serves financial services, cable and telecommunications, retail, fashion, media and entertainment, manufacturing, travel and leisure, software, and high-tech industries. eClerx Services Limited was incorporated in 2000 and is based in Mumbai, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
eClerx Services Limited reported revenue of ₹41.2B in FY2026 versus ₹21.6B in FY2022, a compound +17.5%/yr. Reported net income was ₹7.1B in FY2026, compounding +14.0%/yr from FY2022.
of which total revenue +12.6 pp · buybacks/dilution +3.1 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
ECLERX screens 16% overvalued. Compare with International Business Machines Corporation →
Peer Group
Information Technology Services · 479 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Information Technology Services median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Information Technology Services stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| International Business Machines Corporation IBM | $235.92 | $143.90 | -39% |
| Accenture plc ACNN | 2,460 MXN | 300.07 MXN | -88% |
| Tata Consultancy Services Limited TCS | ₹2,350 | ₹3,473 | +48% |
| Infosys Limited INFY | ₹1,156 | ₹1,457 | +26% |
| HCL Technologies Limited HCLTECH | ₹1,365 | ₹1,722 | +26% |
| Wipro Limited WIPRO | ₹183.94 | ₹314.26 | +71% |
| Tech Mahindra Limited TECHM | ₹1,625 | ₹1,521 | -6% |
| Samsung SDS Co 018260 | 199,300 KRW | 196,390 KRW | -1% |
| Persistent Systems Limited PERSISTENT | ₹5,474 | ₹3,259 | -40% |
| Hyundai Autoever Corporation 307950 | 393,000 KRW | 133,088 KRW | -66% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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