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Last Updated on: 22 December, 2024
Author: Getaka|Social: Getaka Financial Technology X (Earlier Twitter) Profile Getaka Financial Technology LinkedIn Logo
Stock Ticker - BSE: 532927 | NSE: ECLERX

eClerx Services Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 2:37 am

Market Cap 17,693 Cr.
Current Price 3,609
High / Low 3,877/2,114
Stock P/E34.0
Book Value 418
Dividend Yield0.03 %
ROCE31.8 %
ROE25.4 %
Face Value 10.0
PEG Ratio1.50

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for

Competitors of

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
N2N Technologies Ltd 5.83 Cr. 18.0 33.0/18.0 16.80.00 %0.69 %0.63 % 10.0
eMudhra Ltd 7,829 Cr. 945 1,024/41596.9 83.30.13 %17.7 %14.4 % 5.00
BNR Udyog Ltd 19.6 Cr. 65.4 118/51.726.9 35.70.00 %63.6 %53.8 % 10.0
BGIL Films & Technologies Ltd 7.22 Cr. 6.37 10.3/3.28 16.90.00 %4.44 %3.46 % 10.0
Aurum Proptech Ltd 644 Cr. 220 250/125 97.40.00 %12.0 %27.1 % 5.00
Industry Average10,078.58 Cr721.1836.18190.100.42%17.89%16.59%7.60

All Competitor Stocks of

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales473486523559592618650687693684722753767
Expenses320345358387410474469496486517517546571
Operating Profit153141165172182143181191207167205207196
OPM %32%29%32%31%31%23%28%28%30%24%28%28%26%
Other Income69141022211858141923
Interest6565555566666
Depreciation24242526282527303228303434
Profit before tax129122135145159135170173174141182187179
Tax %24%24%26%26%25%27%26%24%24%24%25%26%28%
Net Profit9892101107118100126131132107136139130
EPS in Rs18.8817.4619.2621.0323.4219.5724.8225.8527.0421.6927.7328.2826.62

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales6618419421,3141,3301,3651,4311,4381,5642,1602,6482,926
Expenses4064866268338699981,1221,1111,1151,4981,9252,151
Operating Profit255355316482461368309326450662723775
OPM %39%42%34%37%35%27%22%23%29%31%27%26%
Other Income-181132362861494534246664
Interest01112112021232223
Depreciation263350575248457182103114126
Profit before tax211332298460436380311281381560653689
Tax %19%23%23%26%19%24%27%26%26%25%25%26%
Net Profit172256230342354290228209283418489512
EPS in Rs28.7442.3337.8455.8059.3050.0839.2937.6554.0382.3399.71104.33
Dividend Payout %44%41%46%1%1%1%2%2%1%1%1%1%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)48.84%-10.16%48.70%3.51%-18.08%-21.38%-8.33%35.41%47.70%16.99%4.70%
Change in YoY Net Profit Growth (%)0.00%-58.99%58.85%-45.19%-21.59%-3.30%13.05%43.74%12.30%-30.72%-12.28%

has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:13%
5 Years:15%
3 Years:23%
TTM:12%
Compounded Profit Growth
10 Years:7%
5 Years:17%
3 Years:24%
TTM:3%
Stock Price CAGR
10 Years:19%
5 Years:57%
3 Years:33%
1 Year:40%
Return on Equity
10 Years:25%
5 Years:24%
3 Years:27%
Last Year:25%

Last Updated: Unknown

Balance Sheet

Last Updated: November 15, 2024, 12:35 am

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital30303041403838363433484847
Reserves4085596851,0521,1761,1671,3441,2701,4671,5341,6672,1992,001
Borrowings0004162157175163194266290
Other Liabilities163201242192182208201260315324365406366
Total Liabilities6017909571,2881,3981,4191,5841,7231,9912,0552,2742,9192,704
Fixed Assets135155167365325343348480728713773843863
CWIP111020010221120
Investments35115155219252165286437229196275406318
Other Assets4305186347048209109508061,0331,1451,2061,6691,503
Total Assets6017909571,2881,3981,4191,5841,7231,9912,0552,2742,9192,704

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +153195243418312305206333365444493526
Cash from Investing Activity +-34-129-62-167-17526-23024-244-55-483
Cash from Financing Activity +-53-84-115-165-245-304-54-308-188-416-440-107
Net Cash Flow66-176686-10828-774917471-2-64

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow255.00355.00316.00478.00460.00362.00307.00169.00275.00499.00529.00509.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days364349525962626068566162
Inventory Days
Days Payable
Cash Conversion Cycle364349525962626068566162
Working Capital Days111222527474705053545266
ROCE %54%65%46%51%38%30%24%21%24%34%36%32%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Jul 2024
Promoters53.38%53.38%53.38%53.38%53.38%53.61%53.61%53.61%53.61%53.61%53.61%53.81%
FIIs14.92%13.83%13.25%12.03%12.03%12.64%12.62%12.13%11.81%12.19%11.78%11.42%
DIIs19.01%19.34%19.92%20.31%19.94%20.19%20.89%21.64%22.91%22.75%22.49%22.86%
Government0.00%0.00%0.00%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%
Public10.60%11.30%11.34%12.12%12.48%11.52%11.14%10.92%10.04%9.78%10.68%10.47%
Others2.09%2.15%2.11%2.14%2.17%2.02%1.72%1.68%1.63%1.66%1.43%1.44%
No. of Shareholders42,30250,89848,20252,43696,62853,24853,48449,71552,63949,1571,46,68062,184

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Small Cap Fund - Regular Plan3,642,5092.74799.131,637,1362024-12-20122.49%
Nippon India Small Cap Fund1,637,1360.7359.171,637,1362024-12-200%
DSP Small Cap Fund1,571,1122.5344.691,637,1362024-12-20-4.03%
HDFC Childrens Gift Fund - Regular Plan761,0181.85166.961,637,1362024-12-20-53.52%
ICICI Prudential Technology Fund502,7260.94110.291,637,1362024-12-20-69.29%
HSBC Small Cap Fund - Regular Plan487,0300.72106.851,637,1362024-12-20-70.25%
Bandhan Small Cap Fund278,6681.1861.141,637,1362024-12-20-82.98%
ICICI Prudential Flexicap Fund173,9230.2638.161,637,1362024-12-20-89.38%
L&T Focused Equity Fund204,5942.85271,637,1362024-12-20-87.5%
UTI Small Cap Fund102,1110.5922.41,637,1362024-12-20-93.76%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)106.1598.76123.8181.6157.26
Diluted EPS (Rs.)104.3897.15121.5781.2957.25
Cash EPS (Rs.)132.17125.58157.40107.1677.53
Book Value[Excl.RevalReserv]/Share (Rs.)466.38357.36473.99441.60362.00
Book Value[Incl.RevalReserv]/Share (Rs.)466.38357.36473.99441.60362.00
Revenue From Operations / Share (Rs.)606.56551.25652.71460.06398.22
PBDIT / Share (Rs.)174.25164.09207.02141.88102.56
PBIT / Share (Rs.)148.17140.35175.84117.8982.92
PBT / Share (Rs.)142.92135.94169.34111.9377.71
Net Profit / Share (Rs.)106.10101.84126.2283.1757.89
NP After MI And SOA / Share (Rs.)106.04101.77126.1183.0957.89
PBDIT Margin (%)28.7229.7631.7130.8325.75
PBIT Margin (%)24.4225.4526.9425.6220.82
PBT Margin (%)23.5624.6625.9424.3219.51
Net Profit Margin (%)17.4918.4719.3318.0714.53
NP After MI And SOA Margin (%)17.4818.4619.3218.0614.53
Return on Networth / Equity (%)22.7528.5026.6218.8215.99
Return on Capital Employeed (%)28.0034.7932.9123.2719.87
Return On Assets (%)17.4621.3620.1614.0712.03
Long Term Debt / Equity (X)0.000.000.000.090.00
Total Debt / Equity (X)0.000.000.000.110.00
Asset Turnover Ratio (%)1.121.220.870.710.71
Current Ratio (X)5.173.924.214.215.10
Quick Ratio (X)5.173.914.214.215.10
Dividend Payout Ratio (NP) (%)0.940.670.811.202.09
Dividend Payout Ratio (CP) (%)0.750.540.650.931.56
Earning Retention Ratio (%)99.0699.3399.1998.8097.91
Cash Earning Retention Ratio (%)99.2599.4699.3599.0798.44
Interest Coverage Ratio (X)35.7937.2431.8423.7919.68
Interest Coverage Ratio (Post Tax) (X)22.8724.1220.4114.9512.11
Enterprise Value (Cr.)10667.555774.257360.723440.89990.05
EV / Net Operating Revenue (X)3.652.183.412.200.68
EV / EBITDA (X)12.697.3310.747.132.67
MarketCap / Net Operating Revenue (X)3.882.343.632.400.92
Retention Ratios (%)99.0599.3299.1898.7997.90
Price / BV (X)5.053.625.012.501.01
Price / Net Operating Revenue (X)3.882.343.632.400.92
EarningsYield0.040.070.050.070.15

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 22, 2024 is: 3,610.93

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of December 22, 2024, is Undervalued by 0.05% compared to the current share price 3,609.00

Intrinsic Value of as of December 22, 2024 is: 4,427.39

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of December 22, 2024, is Undervalued by 22.68% compared to the current share price 3,609.00

Last 5 Year EPS CAGR: 22.61%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 37.92%, which is a positive sign.
  2. The company has higher reserves (1,271.46 cr) compared to borrowings (96.77 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (204.67 cr) and profit (416.00 cr) over the years.
  1. The stock has a high average Working Capital Days of 49.17, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 55.83, which may not be favorable.
  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in :
    1. Net Profit Margin: 17.49%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 28% (Industry Average ROCE: 17.89%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 22.75% (Industry Average ROE: 16.59%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 22.87
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 5.17
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 34 (Industry average Stock P/E: 23.52)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

eClerx Services Ltd. is a Public Limited Listed company incorporated on 24/03/2000 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L72200MH2000PLC125319 and registration number is 125319. Currently Company is involved in the business activities of Data processing, hosting and related activities. Company’s Total Operating Revenue is Rs. 1551.31 Cr. and Equity Capital is Rs. 33.10 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
IT Enabled ServicesSonawala Building, Mumbai Maharashtra 400023investor@eClerx.com
http://www.eClerx.com
Management
NamePosition Held
Mr. Anish GhoshalChairman(NonExe.&Ind.Director)
Mr. Kapil JainManaging Director & Group CEO
Mr. P D MundhraExecutive Director
Mr. Anjan MalikNon Executive Director
Mr. Biren GabhawalaInd. Non-Executive Director
Mr. Srinjay SenguptaInd. Non-Executive Director
Ms. Deepa KapoorInd. Non-Executive Director
Mr. Shailesh KekreInd. Non-Executive Director
Mr. Naval Bir KumarInd. Non-Executive Director
Ms. Bala C DeshpandeInd. Non-Executive Director
Mr. Naresh Chand GuptaInd. Non-Executive Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 22 December 2024 is ₹3610.93, which is 0.05% higher than the current market price of ₹3,609.00. The stock has a market capitalization of 17,693 Cr. and recorded a high/low of 3,877/2,114 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹2,001 Cr and total liabilities of ₹2,704 Cr.

What is the Market Cap of ?

The Market Cap of is 17,693 Cr..

What is the current Stock Price of as on 22 December 2024?

The current stock price of as on 22 December 2024 is 3,609.

What is the High / Low of stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of stocks is 3,877/2,114.

What is the Stock P/E of ?

The Stock P/E of is 34.0.

What is the Book Value of ?

The Book Value of is 418.

What is the Dividend Yield of ?

The Dividend Yield of is 0.03 %.

What is the ROCE of ?

The ROCE of is 31.8 %.

What is the ROE of ?

The ROE of is 25.4 %.

What is the Face Value of ?

The Face Value of is 10.0.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in . Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE