eClerx Services Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for ECLERX, BSE:532927 eClerx Services Ltd.

eClerx Services Ltd.

24 May 2019

4144.40

1.48%

eClerx Services Limited

Sell: eClerx Services Ltd.

Target

ICICI Securities Limited

In FY19, dollar revenues grew a mere 1% YoY due to client specific issues and lower growth in new projects. Taking into consideration, though moderated but continued impact from concern in certain client buckets, shorter duration projects and pressure in legacy revenues (50% of revenues), it seems an uphill task to reach industry growth rates in FY20E. Considering the above mentioned headwinds, we expect the company to register mere mid-single digit revenue growth in FY20E. The key drivers of FY20E revenue growth are a healthy deal pipeline (higher than FY18 YoY),...

Number of FII/FPI investors increased from 233 to 240 in Jun 2025 qtr.

eClerx Services Ltd.

15 Mar 2019

4144.40

1.48%

First Light: Logistics (Sector Report), Wholesale Inflation, eClerx Services, Pharma

Economy Update: eClerx Services Ltd.

BOB Capital Markets Ltd.

India's US$ 160bn logistics industry is amidst a much-needed transformation led by (1) structural reforms (GST, e-way bill) and the government's infrastructure thrust (DFC, Sagarmala), (2) the emergence of new-age, service-oriented businesses versus asset-heavy models, and (3) growing formalisation of the sector, propelling organised players to the fore. We prefer the emerging 3PL and express segments for long-term value creation. Among...

Number of FII/FPI investors increased from 233 to 240 in Jun 2025 qtr.

eClerx Services Ltd.

14 Mar 2019, 12:00AM

4144.40

1.48%

eClerx Services (REDUCE): Announces Rs 2.6bn buyback a transient trigger

Sell: eClerx Services Ltd.

Recommendation Target

BOB Capital Markets Ltd.

Announces Rs 2.6bn buyback a transient trigger Event: eClerx (ECLX) has announced a buyback worth Rs 2.6bn through the tender offer route at a maximum price of Rs 1,600/sh (39.6% premium over...

eClerx Services Ltd. is trading above its 200 day SMA of 3392.9

eClerx Services Ltd.

01 Feb 2019

4144.40

1.48%

eClerx Services (3QFY19): In transition mode. Maintain NEUTRAL

Neutral: eClerx Services Ltd.

Target

HDFC Securities

Maintain NEUTRAL with TP of Rs 1,035, 13x Dec-20E EPS. eClerx posted in-line revenue and weak operating performance. Revenue stood at USD 50mn, 0.7/3.3% QoQ/YoY in CC terms. EBIT% contracted sharply by 514bps QoQ to 15.3% impacted by higher employee cost (-260bps impact) and higher SG&A; (-200bps impact). Operating performance impacted by investments in onshore delivery (-250bps impact) and facility expansion (Pune center). APAT was lower at Rs 0.39bn on forex loss impact and higher ETR.

eClerx Services Ltd. has an average target of 3727.00 from 1 broker.

eClerx Services Ltd.

01 Feb 2019

4144.40

1.48%

eClerx Services Limited

Sell: eClerx Services Ltd.

Recommendation Target

ICICI Securities Limited

Reported PAT of | 39 crore was below our expectation of | 64.6 crore on account of a sharp margin decline and lower other income Pressure in emerging clients to continue in near term The company posted a marginal increase of 0.4% QoQ led by 4.3% growth in managed services and 5% in onsite revenue. This was offset by 0.9% decline in offshore revenue and 2.6% drop in revenue from emerging clients (non top 10 clients). Decline in emerging clients was mainly on account of two clients in $1-5 million revenue category...

Number of FII/FPI investors increased from 233 to 240 in Jun 2025 qtr.

eClerx Services Ltd.

04 Dec 2018

4144.40

1.48%

eClerx faced multiple internal/external impacts that led to muted growth and a decline in...

Accumulate: eClerx Services Ltd.

Target

Emkay

Refer to important disclosures at the end of this report Challenges to turn into opportunities profitability in FY16-18. The key factors affected the performance were: 1) being on the wrong-side of the actions at the client's end; and 2) a mix change toward onsite, with low gross margins (onsite now accounts for 22% of revenues versus 1% in FY15). Despite the modest performance in the recent past, we are certain about a gradual recovery in growth on account of: 1) stable deal momentum (adding about USD40-50mn in new TCV); 2) no client roll-offs (witnessed no adverse case in the last six quarters); 3)...

Number of FII/FPI investors increased from 233 to 240 in Jun 2025 qtr.

eClerx Services Ltd.

28 Nov 2018

4144.40

1.48%

eClerx Services

Buy: eClerx Services Ltd.

BOB Capital Markets Ltd.

eClerx (ECLX), in a recent management meet, reiterated its strategy of onsite presence ramp-up in a bid to move closer to clients. Management indicated possible double-digit growth in FY20 on receding client-specific challenges and healthy deal wins. Operating margin uncertainty persists despite levers such as potential price hikes in top 10 accounts and favourable hedge positions (from H2FY20). Given the clouded margin outlook, we reiterate REDUCE with an unchanged Sep'19 target price of Rs 1,080....

eClerx Services Ltd. has an average target of 3727.00 from 1 broker.

eClerx Services Ltd.

05 Nov 2018

4144.40

1.48%

eClerx Services Limited

Hold: eClerx Services Ltd.

Target

ICICI Securities Limited

EBITDA margin expanded 110 bps QoQ mainly led by lower selling & distribution expenses (down 5.4% QoQ) and one-time gain of | 3.1 crore in rent cost due to Pune facility consolidation. Adjusting for one time gain, the margin was at 22.5% (below our estimate of 23.8%)...

eClerx Services Ltd. has an average target of 3727.00 from 1 broker.

eClerx Services Ltd.

02 Nov 2018

4144.40

1.48%

eClerx - Result Update

Hold: eClerx Services Ltd.

Target

Reliance Securities

At a broader level, eClerx continues to face revenue growth headwinds owing to issues such as project roll offs. This is being witnessed in legacy projects (>5 year old projects), where roll offs in the near-term will continue to pressurise offshore revenue, which will be offset by robust onshore revenue growth led by managed services, analytics and RPA. Outlook remains healthy in these areas, with client demand strong and focus on cost cutting. However, from a margin perspective, new business in these areas comes at lower margins initially, and higher share of this business along with higher onshore revenue is likely to pressurise the margin profile in the short-term, till such time as offshore revenue sees a revival. INR depreciation is the biggest...

eClerx Services Ltd. has gained 34.10% in the last 1 Year

eClerx Services Ltd.

01 Nov 2018

4144.40

1.48%

eClerx Services (2QFY19): Status quo. Maintain NEUTRAL

Neutral: eClerx Services Ltd.

Target

HDFC Securities

Maintain NEUTRAL with TP of Rs 1,140, 13x Sep-FY20E-EPS as valuation support on payout yield (~4%) and >6% FCF yield. eClerx posted in-line set of numbers, both at revenue and operating level. Revenue came at USD 50mn, 1.6% QoQ and 3.4% YoY (USD 50mn est) with 2.2% QoQ in CC terms. EBIT margin came at 20.5%, +87bps QoQ (25.7% est) as lower delivery cost and sales & development expenses (lower travelling cost) offset G&A; increase. APAT was higher at Rs 0.70bn supported by lower ETR.

Number of FII/FPI investors increased from 233 to 240 in Jun 2025 qtr.

Is eClerx Services Ltd. worth buying?

145 Votes:

Buy 74.48%

Sell 15.17%

Hold 10.34%

RESEARCH REPORTS

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