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Fundamental Analysis of eClerx Services Ltd

About the Company - EClerx Services Ltd

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

eClerx Services Ltd. Share Price Update

Share PriceValue
Today₹2,600.00
Previous Day₹2,560.30

Basic Stock Data of EClerx Services Ltd

Market Cap 12,614 Cr.
Current Price 2,573
High / Low2,760/1,221
Stock P/E24.9
Book Value 403
Dividend Yield0.04 %
ROCE36.5 %
ROE29.3 %
Face Value 10.0

EClerx Services Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales361394473486523559592618650687693684722
Expenses259282320345358387410474469496486517517
Operating Profit102112153141165172182143181191207167205
OPM %28%28%32%29%32%31%31%23%28%28%30%24%28%
Other Income696914102221185814
Interest5565655555666
Depreciation20202424252628252730322830
Profit before tax8396129122135145159135170173174141182
Tax %26%26%24%24%26%26%25%27%26%24%24%24%25%
Net Profit61719892101107118100126131132107136
EPS in Rs11.6613.5818.8817.4619.2621.0323.4219.5724.8225.8527.0421.6927.73

EClerx Services Ltd Quarterly Chart

EClerx Services Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales4736618419421,3141,3301,3651,4311,4381,5642,1602,6482,786
Expenses2834064866268338699981,1221,1111,1151,4981,9252,017
Operating Profit190255355316482461368309326450662723769
OPM %40%39%42%34%37%35%27%22%23%29%31%27%28%
Other Income22-181132362861494534246645
Interest001112112021232223
Depreciation13263350575248457182103114120
Profit before tax199211332298460436380311281381560653671
Tax %20%19%23%23%26%19%24%27%26%26%25%25%
Net Profit160172256230342354290228209283418489506
EPS in Rs27.5028.7442.3337.8455.8059.3050.0839.2937.6554.0382.3399.71102.31
Dividend Payout %32%44%41%46%1%1%1%2%2%1%1%1%

EClerx Services Ltd Profit & Loss Yearly Chart

EClerx Services Ltd Growth

Compounded Sales Growth
10 Years::15%
5 Years::14%
3 Years::23%
TTM::15%

EClerx Services Ltd Growth

Compounded Profit Growth
10 Years::11%
5 Years::12%
3 Years::32%
TTM::12%

EClerx Services Ltd Growth

Stock Price CAGR
10 Years::17%
5 Years::30%
3 Years::70%
1 Year::84%

EClerx Services Ltd Growth

Return on Equity
10 Years::26%
5 Years::22%
3 Years::25%
Last Year::29%

EClerx Services Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital29303030414038383634334848
Reserves3144085596851,0521,1761,1671,3441,2701,4671,5341,6671,925
Borrowings00004162157175163194215
Other Liabilities118163201242192182208201260315324365341
Total Liabilities4616017909571,2881,3981,4191,5841,7231,9912,0552,2742,529
Fixed Assets44135155167365325343348480728713773813
CWIP41110200102210
Investments10035115155219252165286437229196275267
Other Assets3134305186347048209109508061,0331,1451,2061,449
Total Assets4616017909571,2881,3981,4191,5841,7231,9912,0552,2742,529

EClerx Services Ltd Reserves and Borrowings Chart

EClerx Services Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 173153195243418312305206333365444493
Cash from Investing Activity -83-34-129-62-167-17526-23024-244-55
Cash from Financing Activity -72-53-84-115-165-245-304-54-308-188-416-440
Net Cash Flow1766-176686-10828-774917471-2

EClerx Services Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days333643495259626260685661
Inventory Days
Days Payable
Cash Conversion Cycle333643495259626260685661
Working Capital Days161112225274747050535452
ROCE %69%54%65%46%51%38%30%24%21%24%34%36%

EClerx Services Ltd Financial Efficiency Indicators Chart

EClerx Services Ltd Share Holding Pattern

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Promoters53.81%53.81%53.81%53.81%53.38%53.38%53.38%53.38%53.38%53.61%53.61%53.61%
FIIs18.56%18.86%19.09%16.05%14.92%13.83%13.25%12.03%12.03%12.64%12.62%12.13%
DIIs13.69%15.13%15.75%17.55%19.01%19.34%19.92%20.31%19.94%20.19%20.89%21.64%
Government0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.02%0.02%0.02%0.02%0.02%
Public11.41%9.67%9.18%10.58%10.60%11.30%11.34%12.12%12.48%11.52%11.14%10.92%
Others2.53%2.53%2.18%2.01%2.09%2.15%2.11%2.14%2.17%2.02%1.72%1.68%
No. of Shareholders40,05433,75135,59277,36142,30250,89848,20252,43696,62853,24853,48449,715

EClerx Services Ltd Shareholding Pattern Chart

No. of EClerx Services Ltd Shareholders

EClerx Services Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
HDFC Small Cap Fund - Regular Plan34595232.92677.37
Nippon India Small Cap Fund16371360.86320.55
DSP Small Cap Fund15414882.55301.82
DSP Mid Cap Fund8618231.17168.74
HDFC Childrens Gift Fund - Regular Plan7189811.92140.78
ICICI Prudential Technology Fund3275970.5964.14
HSBC Small Cap Fund - Regular Plan2393000.4146.85
Bandhan Small Cap Fund2002621.7639.21
L&T Focused Equity Fund2045942.8527
UTI Aggressive Hybrid Fund1348320.5626.4

EClerx Services Ltd ROCE Trend

EClerx Services Ltd EPS Trend

EClerx Services Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)98.76123.8181.6157.2660.07
Diluted EPS (Rs.)97.15121.5781.2957.2559.98
Cash EPS (Rs.)125.58157.40107.1677.5372.24
Book Value[Excl.RevalReserv]/Share (Rs.)357.36473.99441.60362.00365.56
Book Value[Incl.RevalReserv]/Share (Rs.)357.36473.99441.60362.00365.56
Revenue From Operations / Share (Rs.)551.25652.71460.06398.22378.56
PBDIT / Share (Rs.)164.09207.02141.88102.5694.26
PBIT / Share (Rs.)140.35175.84117.8982.9282.43
PBT / Share (Rs.)135.94169.34111.9377.7182.42
Net Profit / Share (Rs.)101.84126.2283.1757.8960.41
NP After MI And SOA / Share (Rs.)101.77126.1183.0957.8960.40
PBDIT Margin (%)29.7631.7130.8325.7524.89
PBIT Margin (%)25.4526.9425.6220.8221.77
PBT Margin (%)24.6625.9424.3219.5121.77
Net Profit Margin (%)18.4719.3318.0714.5315.95
NP After MI And SOA Margin (%)18.4619.3218.0614.5315.95
Return on Networth / Equity (%)28.5026.6218.8215.9916.53
Return on Capital Employeed (%)34.7932.9123.2719.8721.49
Return On Assets (%)21.3620.1614.0712.0314.29
Long Term Debt / Equity (X)0.000.000.090.000.00
Total Debt / Equity (X)0.000.000.110.000.00
Asset Turnover Ratio (%)1.030.870.710.710.77
Current Ratio (X)3.924.214.215.107.87
Quick Ratio (X)3.914.214.215.107.87
Dividend Payout Ratio (NP) (%)0.670.811.202.092.01
Dividend Payout Ratio (CP) (%)0.540.650.931.561.68
Earning Retention Ratio (%)99.3399.1998.8097.9197.99
Cash Earning Retention Ratio (%)99.4699.3599.0798.4498.32
Interest Coverage Ratio (%)37.2431.8423.7919.689133.46
Interest Coverage Ratio (Post Tax) (%)24.1220.4114.9512.115854.87
Enterprise Value (Cr.)5774.257360.723440.89990.053902.04
EV / Net Operating Revenue (X)2.183.412.200.682.73
EV / EBITDA (X)7.3310.747.132.6710.95
MarketCap / Net Operating Revenue (X)2.343.632.400.923.04
Retention Ratios (%)99.3299.1898.7997.9097.98
Price / BV (X)3.625.012.501.013.15
Price / Net Operating Revenue (X)2.343.632.400.923.04
EarningsYield0.070.050.070.150.05

EClerx Services Ltd Profitability Ratios (%)

EClerx Services Ltd Liquidity Ratios

EClerx Services Ltd Liquidity Ratios (%)

EClerx Services Ltd Interest Coverage Ratios (%)

EClerx Services Ltd Valuation Ratios

Fair Value of EClerx Services Ltd Stock

Fair Value: ₹2941.34

The stock is undervalued by 14.32% compared to the current price ₹2573

*Investments are subject to market risks

Strength and Weakness of EClerx Services Ltd Stock

StrengthWeakness

The company has higher reserves compared to borrowings, indicating strong financial stability.

The company has shown consistent growth in sales and profit over the years.

The stock has a low average ROCE, which may not be favorable.

The stock has a high average Working Capital Days, which may not be favorable.

The stock has a high average Cash Conversion Cycle, which may not be favorable.

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