eClerx Services Q4FY26: Revenue up 24% YoY to ₹1,135 Cr, Eyes Top Quartile Growth in FY27
eClerx Services reported Q4 FY26 revenue of ₹1,135 crore, up 24% YoY. Full-year FY26 revenue was ₹4,217 crore, up 22% YoY. EBITDA grew 29% to ₹1,153 crore, and net profit rose 30% to ₹706 crore. The company secured its first large-scale Agentic AI win, with deployments starting in Q1 FY27. eClerx aims for top quartile growth in FY27 with an EBITDA margin of 24-28%.
The results show robust financial performance, strategic advancements in AI and analytics, and a clear growth strategy for the upcoming fiscal year, indicating a significant positive impact on the company's prospects.
The company reported strong year-on-year revenue and profit growth, significant advancements in AI capabilities, and positive future outlook with a healthy pipeline and guidance for top quartile growth.
eClerx Services Limited reported strong financial results for the quarter and full year ended March 31, 2026. For the full year FY26, operating revenue reached USD 469 million, a 17.9% increase year-on-year in dollar terms and a 22% rise in INR terms, amounting to ₹4,217 crore. EBITDA grew by 29% to ₹1,153 crore, with margins expanding, and net profit rose by 30% to ₹706 crore, leading to a 33% increase in EPS post the bonus issue.
In Q4 FY26, operating revenue was USD 122 million, up 17% year-on-year, and INR revenue stood at ₹1,135 crore, a 24% increase. Operating EBITDA for the quarter was ₹284.1 crore (₹2841 million) at a 25.7% margin, showing a 2.8% sequential growth. Q4 PAT was ₹189.4 crore (₹1894 million) at a 16.7% margin. New deal wins in Q4 amounted to USD 46 million, indicating steady momentum.
The company highlighted significant progress in Analytics and Automation, which has become a USD 90 million business. Substantial advancements were made in AI, including securing the first large-scale Agentic AI win with deployments planned for Q1 FY27. eClerx also launched an agentic data sourcing platform and an AI-native orchestrator for KYC case management. Internally, over 3,000 employees have been trained on Agentic AI and vibe coding, fostering an AI-fluent organization.
The company saw solid expansion in its Adobe relationship across banking, retail, and M&D clients. The CMT vertical delivered strong Q4 performance with sequential growth exceeding 7%, while BFSI had a softer quarter but with an encouraging pipeline. High-tech, M&D, and retail client budgets focused on transformation and automation. The Finance & Accounting segment, under the Personiv brand, delivered strong growth. The CLX business is expected to return to growth in H1 FY27.
Top 10 client concentration reduced to 59% from 63-64%, indicating healthy portfolio diversification. eClerx received several recognitions, including being named a representative vendor in the Gartner Market Guide for Digital Shelf Analytics and category leader in the Chartis Risk Tech Quadrant. Looking ahead to FY27, eClerx expects to be in the top quartile of growth within its peer segment, maintaining an EBITDA margin guidance of 24% to 28%. The company is cautiously optimistic about growth across all four verticals, with high-tech expected to outperform, while fashion and retail remain a cautious area.
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