eClerx Services (ECLERX) Q1 26/27 earnings summary

Executive summary

• Q1 operating revenue reached $125.9 million, up 15.2% year-over-year and 2.8% sequentially, marking the 12th consecutive quarter of sequential growth.

• Total revenue for Q1 was INR 11,702 million, up 23.8% year-over-year and 3.1% sequentially.

• EBIT grew 18.1% YoY to INR 2,335 million, PAT increased 16.0% YoY to INR 1,643 million, and basic EPS was INR 17.86.

• Delivery headcount rose 10% YoY to 22,376.

• Standalone and consolidated unaudited financial results for the quarter ended June 30, 2026, were reviewed and approved by the Board and Audit Committee, with no qualifications in the auditor's review reports.

Financial highlights

• INR revenue for the quarter was 11,524 million, up 23% year-over-year; constant currency revenue up 2.9% sequentially and 15% year-over-year.

• Operating EBITDA was INR 2,652 million; OCF to EBITDA ratio stood at 38%.

• Net operating cash flow for the quarter was INR 1,073 million; cash and cash equivalents at INR 12,810 million.

• Basic EPS for the quarter was INR 17.86 (consolidated), up from INR 15.08 last year.

• Dividend of INR 1 proposed for FY27.

Outlook and guidance

• Confident of delivering sequential growth and maintaining top quartile industry growth for the full year.

• Expect positive momentum in BFSI and emerging business segments from H2 onwards.

• EBITDA margin guidance remains at 24%-28% for the full year.

• CapEx guidance for the year is INR 130-150 crore.

• Management highlights forward-looking statements are subject to risks and uncertainties, including integration of acquisitions and economic conditions.