Interim report
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Amplify Business Results Registered office address eClerx Services Limited Sonawala Building, 1st Floor, 29 Bank Street, Fort, Mumbai – 400 023, Maharashtra, India www.eclerx.com Ph: +91 (022) 6614 83011 Fax: +91 (022) 6614 8655 Email: Contact@eclerx.com CIN: (L72200MH2000PLC125319) eClerx/SECD/SE/2026/166 October 28, 2026 BSE Limited Corporate Relationship Department, Phiroze Jeejeebhoy Towers, 25th Floor, Dalal Street, Fort, Mumbai - 400 001 National Stock Exchange of India Limited Exchange Plaza, Plot No. C/1, Block G, Bandra - Kurla Complex Bandra (East), Mumbai – 400 051 Dear Sir/Madam, Sub: Outcome of Board Meeting held on Wednesday, October 28, 2026 Scrip Code: BSE - 532927 NSE – ECLERX This is to inform you that the Board of Directors of the Company at its meeting held on Wednesday, October 28, 2026, which commenced at 4:15 p.m. and concluded at 6 :15 p.m., inter-alia, unanimously approved the Un -audited Financial Results (Standalone and Consolidated) for the quarter/period ended September 30, 2026. The said financials as approved by the Board of Directors along with the Limited Review Report issued by Statutory Auditor are attached. This is for your information and records. Thanking you, Yours faithfully For eClerx Services Limited Pratik Bhanushali VP-Legal & Company Secretary F8538 Encl: as above
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Price Waterhouse Chartered Accountants LLP Price Waterhouse Chartered Accountants LLP, 252, Veer Savarkar Marg, Shivaji Park, Dadar (West), Mumbai - 400 028 T: +91 (22) 66697510 Registered office and Head office: 11-A, Vishnu Digamber Marg, Sucheta Bhawan, Gate No 2, New Delhi - 110002 Price Waterhouse (a Partnership Firm) converted into Price Waterhouse Chartered Accountants LLP (a Limited Liability Partnershi p with LLP identity no: LLPIN AAC-5001) with effect from July 25, 2014. Post its conversion to Price Waterhouse Chartered Accountants LLP, its ICAI registration number is 012754N/N500016 (ICAI registration number before conversion was 012754N) Review Report To The Board of Directors eClerx Services Limited Sonawala Building, 1st Floor, 29, Bank Street, Fort, Mumbai-400023 1. We have reviewed the standalone unaudited financial results of eClerx Services Limited (the “Company” including eClerx Employee Welfare Trust) for the quarter ended September 30, 2026 and the year to date results for the period April 01, 2026 to September 30, 2026, and the notes that include the unaudited Statement of Standalone Assets and Liabilities as on that date and the unaudited Statement of Standalone Cash Flows for the half-year ended on that date which are included in the accompanying Statement of Standalone Unaudited Financial Results for the Quarter and Half year ended September 30, 2026 (the “Statement”). The Statement has been prepared by the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations, 2015”), which has been digitally signed by us for identification purposes. 2. This Statement, which is the responsibility of the Company’s Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 “Interim Financial Reporting” (“Ind AS 34”), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”, issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
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Price Waterhouse Chartered Accountants LLP Review report on the standalone unaudited financial results for the quarter and half year ended September 30, 2026 Page 2 of 2 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the Statement has not been prepared in all material respects in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India and has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement. For Price Waterhouse Chartered Accountants LLP Firm Registration Number: 012754N/N500016 Neeraj Sharma Partner Membership Number: 108391 UDIN: 26108391DOMMYX9016 Place: Mumbai October 28, 2026 NEERAJ BALKRISHAN SHARMA Digitally signed by NEERAJ BALKRISHAN SHARMA Date: 2026.10.28 18:12:59 +05'30'
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(Rupees in million, except per share data) Year ended September 30, 2026 June 30, 2026 September 30, 2025 September 30, 2026 September 30, 2025 March 31, 2026 Unaudited Unaudited Unaudited Unaudited Unaudited Audited I Revenue from operations 8,118.37 7,821.13 6,912.87 15,939.50 13,563.71 28,584.54 II Other income 157.90 100.32 260.58 258.22 357.38 887.41 III Total Income (I + II) 8,276.27 7,921.45 7,173.45 16,197.72 13,921.09 29,471.95 IV Expenses Employee benefits expense 3,668.90 3,605.68 3,094.25 7,274.58 6,089.44 12,612.71 Sales and marketing services 1,163.03 1,146.82 1,395.42 2,309.85 2,739.87 5,838.69 Cost of technical sub-contractors 436.64 201.59 182.92 638.23 331.62 653.42 Depreciation and amortisation expense 287.08 253.64 236.83 540.72 439.45 956.18 Finance costs 104.68 109.94 82.34 214.62 159.09 309.75 Other expenses 830.52 830.22 709.88 1,660.74 1,440.96 2,981.21 Total expenses (IV) 6,490.85 6,147.89 5,701.64 12,638.74 11,200.43 23,351.96 V Profit before exceptional items and tax (III-IV) 1,785.42 1,773.56 1,471.81 3,558.98 2,720.66 6,119.99 VI Exceptional items - - - - - - VII Profit before tax (V-VI) 1,785.42 1,773.56 1,471.81 3,558.98 2,720.66 6,119.99 VIII Income tax expense 433.66 445.73 370.67 879.39 690.35 1,539.91 (1) Current tax 460.69 468.83 397.44 929.52 655.37 1,519.25 (2) Deferred tax (27.03) (23.10) (26.77) (50.13) 34.98 20.66 IX Profit for the period (VII-VIII) 1,351.76 1,327.83 1,101.14 2,679.59 2,030.31 4,580.08 X Other Comprehensive Income / (Loss) ('OCI'), Net of Tax 84.57 488.39 (438.94) 572.96 (401.72) (1,150.38) A (i) Items that will not be reclassified to profit or loss in subsequent periods 16.22 (40.77) 5.39 (24.55) (40.42) (26.02) (ii) Income tax relating to items that will not be reclassified to profit or loss (4.08) 10.26 (1.36) 6.18 10.17 6.55 B (i) Items that will be reclassified to profit or loss (net) in subsequent periods 93.12 693.41 (591.95) 786.53 (496.41) (1,511.26) (ii) Income tax relating to items that will be reclassified to profit or loss (20.69) (174.51) 148.98 (195.20) 124.94 380.35 XI Total Comprehensive Income for the period (IX+X) 1,436.33 1,816.22 662.20 3,252.55 1,628.59 3,429.70 XII Paid up equity share capital (Face value of Rs. 10 each, fully paid up) 917.54 919.49 469.17 917.54 469.17 920.30 XIII Other equity 11,202.64 XIV Earnings per share: (in Rs.) (not annualised for the quarter) (refer note 4) (1) Basic 14.71 14.43 11.72 29.14 21.61 49.44 (2) Diluted 14.44 14.22 11.45 28.65 21.16 48.26 Notes : 1 2 3 4 5 The financial results of eClerx Employee Welfare Trust have been included in the standalone financial results of the Company in accordance with the re quirements of IND AS. While computing basic and diluted earnings per share, weighted average number of equity shares held by trust have been reduced. Further, during the quarter ended March 31, 2026, the Company issued 47,025,359 bonus equity shares. Earnings per share have been restated for the quarter ended September 30, 2025 and half year ended Sept ember 30, 2025 to give the effect of bonus equity shares. The Company operates under a single reportable segment which is data management, analytics solutions and process outsourcing services. Further, th e risks and rewards under various geographies where the Company operates are similar in nature. ECLERX SERVICES LIMITED CIN: L72200MH2000PLC125319 Regd. Office : Sonawala Building, 1st Floor, 29, Bank Street, Fort, Mumbai - 400 023 STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 The statement of standalone unaudited financial results for the quarter and half year ended September 30, 2026 have been reviewed by the Audit Committ ee and approved by the Board of Directors at their respective meetings held on October 28, 2026. There are no qualifications in the limited review report is sued by the auditors. Sr. No. Particulars Quarter ended Half year ended These financial results have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standar ds (Ind AS) 34 "Interim Financial Reporting" prescribed under section 133 of the Companies Act, 2013, as amended read with the relevant rules issued thereunder. Figures for the previous periods have been regrouped wherever necessary to conform to those of the current period.
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6 (Rupees in million) As at As at September 30, 2026 March 31, 2026 Unaudited Audited A. ASSETS 1. Non current assets Property, plant and equipment 1,576.30 1,236.00 Right of use assets 2,961.53 2,167.30 Capital work-in-progress 10.84 1.14 Intangible assets 16.18 20.31 Financial assets Investments 4,762.22 4,759.09 Derivative instruments 16.55 - Other financial assets 350.74 569.95 Deferred tax assets (net) 727.92 870.49 Non-current tax assets (net) 52.55 52.62 Other non-current assets 49.94 33.66 10,524.77 9,710.56 2. Current assets Financial assets Investments 1,843.65 934.63 Trade receivables Billed 5,068.34 4,757.59 Unbilled 2,430.02 2,843.05 Cash and cash equivalents 1,016.10 550.66 Other bank balances 74.50 338.50 Other financial assets 1,130.36 759.16 Derivative instruments 20.43 - Other current assets 1,047.63 1,043.06 12,631.03 11,226.65 23,155.80 20,937.21 B. EQUITY AND LIABILITIES 1. Equity Equity share capital 917.54 920.30 Other equity 13,635.67 11,202.64 14,553.21 12,122.94 2. Non current liabilities Financial liabilities Lease liabilities 3,065.46 2,243.97 Derivative instruments 60.81 283.95 Employee benefit obligations 374.04 430.35 3,500.31 2,958.27 3. Current Liabilities Financial liabilities Lease liabilities 385.73 300.46 Derivative instruments 751.73 1,281.84 Trade payables Total outstanding dues of Micro enterprises and small enterprises 0.01 0.71 Total outstanding dues of creditors other than Micro enterprises and small enterprises 2,236.79 2,405.15 Other financial liabilities 103.45 110.18 Employee benefit obligations 913.97 1,090.17 Current tax liabilities (net) 133.81 122.84 Other current liabilities 576.79 544.65 5,102.28 5,856.00 23,155.80 20,937.21 TOTAL - EQUITY AND LIABILITIES Particulars Statement of Standalone Assets and Liabilities TOTAL - ASSETS
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7 Statement of Standalone Cash Flows September 30, 2026 September 30, 2025 Unaudited Unaudited Operating activities Profit before tax 3,558.98 2,720.66 Adjustments to reconcile profit before tax to net cash flows: Depreciation and amortisation expense 540.72 439.45 Share-based payment expense 111.44 96.56 Unrealised net foreign exchange differences 70.88 (49.22) Gain on disposal of property, plant and equipment (net) (2.95) (3.61) Unwinding of discount on security deposits (12.42) (9.55) Gain on sale of current investments (27.09) (55.65) Interest income on fixed deposits (42.73) (47.55) Bad debts written off 0.25 - Provision for doubtful debts 2.06 6.07 Finance costs 214.62 159.09 Change in Fair Value of financial assets at fair value through profit or loss (0.30) (3.48) 4,413.46 3,252.77 Working capital adjustments: Decrease / (Increase) in trade receivables 29.06 (137.00) Decrease / (Increase) in other current and non current financial assets 28.54 (35.83) (Increase) / Decrease in other current and non current assets (1.67) 43.19 Decrease in employee benefit obligations (257.05) (478.27) (Decrease) / Increase in trade payables, remaining current and non current liabilities (98.74) 418.58 Cash generated by operating activities 4,113.60 3,063.44 Income tax paid (Net of refunds) (914.83) (635.11) Net cash flows generated from operating activities (A) 3,198.77 2,428.33 Investing activities Proceeds from sale of current investments 11,649.35 9,413.74 Payment for purchase of current investments (12,529.12) (10,576.00) Payment for purchase of non current investments (5.00) (10.00) Investment in bank deposits (having original maturity of more than three months) (529.00) (232.00) Redemption / maturity of bank deposits (having original maturity of more than three months) 699.00 13.00 Proceeds from sale of property, plant and equipment 3.52 5.41 Payment for purchase of property, plant, equipment and intangible (including capital work in progress) (690.77) (305.95) Interest received 24.53 2.67 Net cash flows used in investing activities (B) (1,377.49) (1,689.13) Financing activities Money received from exercise of ESOP options 896.95 221.86 Purchase of treasury shares by eClerx Employees Welfare Trust (1,833.83) (915.40) Payment of dividend and unclaimed dividend (91.83) (46.96) Interest paid (214.62) (159.09) Principal payment of lease liabilities (107.70) (112.94) Net cash flows used in financing activities (C) (1,351.03) (1,012.53) Net increase /(decrease) in cash and cash equivalents (A+B+C) 470.25 (273.33) Cash and cash equivalents at the beginning of the period 550.66 1,316.27 Effect of exchange fluctuation on cash and cash equivalents (4.81) (25.75) Cash and cash equivalents at the end of the period 1,016.10 1,017.19 For and on behalf of Board of Directors Place: Mumbai Kapil Jain Date: October 28, 2026 Managing Director & Group CEO Half Year ended (Rupees in million) Particulars KAPIL JAIN Digitally signed by KAPIL JAIN Date: 2026.10.28 17:33:32 +05'30' NEERAJ BALKRISHA N SHARMA Digitally signed by NEERAJ BALKRISHAN SHARMA Date: 2026.10.28 18:11:26 +05'30'
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Price Waterhouse Chartered Accountants LLP Price Waterhouse Chartered Accountants LLP, 252, Veer Savarkar Marg, Shivaji Park, Dadar (West), Mumbai - 400 028 T: +91 (22) 66697510 Registered office and Head office: 11-A, Vishnu Digamber Marg, Sucheta Bhawan, Gate No 2, New Delhi - 110002 Price Waterhouse (a Partnership Firm) converted into Price Waterhouse Chartered Accountants LLP (a Limited Liability Partnershi p with LLP identity no: LLPIN AAC-5001) with effect from July 25, 2014. Post its conversion to Price Waterhouse Chartered Accountants LLP, its ICAI registration number is 012754N/N500016 (ICAI registration number before conversion was 012754N) Review Report To The Board of Directors eClerx Services Limited Sonawala Building, 1st Floor, 29, Bank Street, Fort, Mumbai-400023 1. We have reviewed the consolidated unaudited financial results of eClerx Services Limited (the “Holding Company” including eClerx Employee Welfare Trust), and its subsidiaries (the Holding Company and its subsidiaries hereinafter referred to as the “Group”) (refer to paragraph 4 of the Report) for the quarter ended September 30, 2026 and the year to date results for the period April 01, 2026 to September 30, 2026 and the notes that include the unaudited Statement of Consolidated Assets and Liabilities as on that date and the unaudited Statement of Consolidated Cash Flows for the half-year ended on that date which are included in the accompanying Statement of Consolidated Unaudited Financial Results for the Quarter and Half year ended September 30, 2026 (the “Statement”). The Statement is being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations, 2015”), which has been digitally signed by us for identification purposes. 2. This Statement, which is the responsibility of the Holding Company’s Management and has been approved by the Holding Company’s Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 “Interim Financial Reporting”, prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (‘SRE’) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”, issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.
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Price Waterhouse Chartered Accountants LLP Review report on the consolidated unaudited financial results for the quarter and half year ended September 30, 2026 Page 2 of 3 4. The Statement includes the results of the following entities Relationship Entity Name Holding Company eClerx Services Limited, India Subsidiaries eClerx LLC, United States of America eClerx Limited, United Kingdom eClerx Private Limited, Singapore eClerx Investments (UK) Limited, United Kingdom eClerx Canada Limited, Canada CLX Europe S.P.A, Italy CLX Europe Media Solution GmbH, Germany CLX Europe Media Solution Limited, United Kingdom CLX Thai Company Limited, Thailand eClerx BV, Netherlands Eclipse Global Holdings Inc., United States of America (till November 03, 2025) eClerx PTY Ltd., Australia ASEC Group LLC, United States of America (till October 01, 2025) Personiv Eclipse Inc. (formerly known as Personiv Contact Centers LLC), United States of America Personiv Contact Centers India Private Limited, India AG Resources (India) Private Limited, India eClerx Philippines Inc. (formerly known as AGR Operations Manila Inc.), Philippines eClerx ME Information Technology Consultants LLC, UAE eClerx Switzerland SA, Switzerland eClerx Peru S.A.C., Peru eClerx Egypt, Egypt 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review report of the other auditor referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement has not been prepared in all material respects in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India and has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.
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Price Waterhouse Chartered Accountants LLP Review report on the consolidated unaudited financial results for the quarter and half year ended September 30, 2026 Page 3 of 3 6. The interim financial information of 4 subsidiaries incorporated outside India reflect total assets of Rs. 3,230.48 million and net assets of Rs. 2,187.75 million as at September 30, 2026 and revenue from operations of Rs. 662.00 million and Rs. 1,385.48 million, loss for the period of Rs. 35.67 million and Rs. 23.17 million, and total comprehensive loss of Rs. 34.75 million and Rs. 20.32 million for the quarter ended September 30, 2026 and for the period from April 01, 2026 to September 30, 2026, respectively, and cash flows (net) of Rs. 62.84 million for the period from April 01, 2026 to September 30, 2026, as considered in the Statement. The interim financial information of the said subsidiaries have been reviewed by the auditor of the said subsidiaries under the International Standard on Review Engagements (ISRE) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”, and upon which the subsidiaries’ auditor vide their review report has issued an unmodified conclusion. Our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of the said subsidiaries is based on the review report of the other auditor and the procedures performed by us as stated in paragraph 3 above. Our conclusion on the Statement is not modified in respect of the above matter. For Price Waterhouse Chartered Accountants LLP Firm Registration Number: 012754N/N500016 Neeraj Sharma Partner Membership Number: 108391 UDIN: 26108391FCJNXS9941 Place: Mumbai Date: October 28, 2026 NEERAJ BALKRISHA N SHARMA Digitally signed by NEERAJ BALKRISHAN SHARMA Date: 2026.10.28 18:12:25 +05'30'
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(Rupees in million, except per share data) Year ended September 30, 2026 June 30, 2026 September 30, 2025 September 30, 2026 September 30, 2025 March 31, 2026 Unaudited Unaudited Unaudited Unaudited Unaudited Audited I Revenue from operations 11,886.57 11,523.58 10,048.51 23,410.15 19,394.07 41,170.26 II Other income 239.92 178.59 303.66 418.51 409.12 997.69 III Total Income (I + II) 12,126.49 11,702.17 10,352.17 23,828.66 19,803.19 42,167.95 IV Expenses Employee benefits expense 7,411.38 7,288.51 6,100.02 14,699.89 11,933.54 25,245.27 Cost of technical sub-contractors 337.81 281.05 199.47 618.86 397.65 927.87 Depreciation and amortisation expense 558.22 496.07 425.03 1,054.29 794.01 1,753.65 Finance costs 151.75 148.79 107.95 300.54 204.87 421.36 Other expenses 1,298.55 1,301.65 1,069.67 2,600.20 2,142.53 4,468.56 Total expenses (IV) 9,757.71 9,516.07 7,902.14 19,273.78 15,472.60 32,816.71 V Profit before exceptional items and tax (III-IV) 2,368.78 2,186.10 2,450.03 4,554.88 4,330.59 9,351.24 VI Exceptional items - - - - - - VII Profit before tax (V-VI) 2,368.78 2,186.10 2,450.03 4,554.88 4,330.59 9,351.24 VIII Income tax expense 562.81 543.68 615.43 1,106.49 1,080.49 2,286.55 (1) Current tax 581.38 605.21 646.19 1,186.59 1,080.72 2,359.14 (2) Deferred tax (18.57) (61.53) (30.76) (80.10) (0.23) (72.59) IX Profit for the period (VII-VIII) 1,805.97 1,642.42 1,834.60 3,448.39 3,250.10 7,064.69 Attributable to: Shareholders of the Company 1,803.92 1,643.42 1,831.94 3,447.34 3,248.72 7,062.11 Non controlling interest 2.05 (1.00) 2.66 1.05 1.38 2.58 X Profit for the period 1,805.97 1,642.42 1,834.60 3,448.39 3,250.10 7,064.69 XI Other Comprehensive Income / (Loss) ('OCI'), Net of Tax 270.94 577.01 (32.92) 847.95 379.76 339.18 A (i) Items that will not be reclassified to profit or loss in subsequent periods 22.48 (40.72) 6.19 (18.24) (40.00) (0.45) (ii) Income tax relating to items that will not be reclassified to profit or loss (4.08) 10.24 (1.36) 6.16 10.16 7.38 B (i) Items that will be reclassified to profit or loss (net) in subsequent periods 273.22 782.01 (186.73) 1,055.23 284.66 (48.10) (ii) Income tax relating to items that will be reclassified to profit or loss (20.68) (174.52) 148.98 (195.20) 124.94 380.35 XII Total Comprehensive Income for the period (X+XI) 2,076.91 2,219.43 1,801.68 4,296.34 3,629.86 7,403.87 Attributable to: Shareholders of the Company 2,074.67 2,220.43 1,799.02 4,295.10 3,628.48 7,397.46 Non controlling interest 2.24 (1.00) 2.66 1.24 1.38 6.41 Paid up equity share capital (Face value of Rs. 10 each, fully paid up) 917.54 919.49 469.17 917.54 469.17 920.30 XIV Other equity 24,693.68 XV Earnings per share: (in Rs.)(not annualised for the quarter) (Refer note 4) (1) Basic 19.63 17.86 19.50 37.49 34.58 76.23 (2) Diluted 19.27 17.61 19.05 36.85 33.86 74.42 Notes : 1 2 3 4 5 XIII The statement of consolidated unaudited financial results of eClerx Services Limited (the 'Company' including eClerx Employee Welfare Trust) and its subsidiaries (the Company and its subsidiaries together hereinafter referred to as the 'Group') for the quarter and half year ended September 30, 2026 have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on October 28, 2026. There are no qualifications in the limited review report issued by the auditors. These consolidated financial results have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards (Ind AS) 34 "Interim Financial Reporting" prescribed under section 133 of the Companies Act, 2013, as amended read with the relevant rules issued thereunder. The Group operates under a single reportable segment which is data management, analytics solutions and process outsourcing services. Further, the risks and rewards under various geographies where the Group operates are similar in nature. The financial results of eClerx Employee Welfare Trust have been included in the consolidated financial results of the Group in accordance with the re quirements of IND AS. While computing basic and diluted earnings per share, weighted average number of equity shares held by trust have been reduced. Further, during the quarter ended March 31, 2 026, the Company issued 47,025,359 bonus equity shares. Earnings per share have been restated for the quarter ended September 30, 2025 and half year ended September 30, 2025 to give the effect of bonus equity shares. Figures for the previous periods have been regrouped wherever necessary to conform to those of the current period. Regd. Office : Sonawala Building, 1st Floor, 29, Bank Street, Fort, Mumbai - 400 023 CIN : L72200MH2000PLC125319 ECLERX SERVICES LIMITED Sr. No. Particulars Half year ended STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 Quarter ended
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6 Statement of Consolidated Assets and Liabilities (Rupees in million) As at As at September 30, 2026 March 31, 2026 Unaudited Audited A. ASSETS 1. Non current assets Property, plant and equipment 2,466.78 2,028.60 Right of use assets 4,482.61 3,360.66 Capital work-in-progress 80.07 49.16 Goodwill 4,547.43 4,492.94 Other intangible assets 604.34 657.29 Financial assets Investments 80.40 77.27 Derivative instruments 16.55 - Other financial assets 620.63 982.62 Deferred tax assets (net) 1,091.84 1,166.61 Non-current tax assets (net) 87.67 58.07 Other non - current assets 50.14 33.70 14,128.46 12,906.92 2. Current assets Inventories 4.16 6.24 Financial assets Investments 4,168.52 3,001.24 Trade receivables Billed 7,379.86 6,664.54 Unbilled 3,319.26 3,478.88 Cash and cash equivalents 7,298.19 6,967.67 Other bank balances 152.13 412.27 Other financial assets 2,627.80 2,103.81 Derivative instruments 20.43 - Other current assets 1,503.33 1,403.21 Current tax assets (net) 14.48 25.38 26,488.16 24,063.24 TOTAL - ASSETS 40,616.62 36,970.16 B. EQUITY AND LIABILITIES 1. Equity Equity Share capital 917.54 920.30 Other Equity 28,234.20 24,693.68 Total Equity attributable to shareholders of the Company 29,151.74 25,613.98 Non-controlling interests 29.62 28.38 Total Equity 29,181.36 25,642.36 2. Non current liabilities Financial liabilities Lease liabilities 4,292.39 3,244.25 Derivative instruments 60.81 283.95 Employee benefit obligations 620.04 668.06 Deferred tax liabilities (net) 57.80 63.77 5,031.04 4,260.03 3. Current liabilities Financial liabilities Lease liabilities 814.94 605.27 Derivative instruments 751.73 1,281.84 Trade payables Total outstanding dues of Micro enterprises and small enterprises 1.37 0.80 Total outstanding dues of creditors other than Micro enterprises and small enterprises 1,109.89 999.28 Other financial liabilities 515.63 361.73 Employee benefit obligations 1,997.72 2,733.96 Current tax liabilities (net) 246.84 217.39 Other current liabilities 966.10 867.50 6,404.22 7,067.77 TOTAL - EQUITY AND LIABILITIES 40,616.62 36,970.16 Particulars
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7 Statement of Consolidated Cash Flows September 30, 2026 September 30, 2025 Unaudited Unaudited Operating activities Profit before tax 4,554.88 4,330.59 Adjustments to reconcile profit before tax to net cash flows: Depreciation and amortisation expense 1,054.29 794.01 Share-based payment expense 206.31 174.83 Unrealised net foreign exchange differences 141.23 86.59 Gain on disposal of property, plant and equipment (net) (3.09) (2.54) Unwinding of discount on security deposits (13.14) (10.35) Gain on sale of current investments (29.01) (56.14) Dividend income (16.73) (15.43) Interest income on fixed deposits (166.34) (152.70) Bad debts written off 6.53 2.59 (Reversal of provision) / Provision for doubtful debts (1.70) 19.40 Finance costs 300.54 204.87 Change in Fair Value of financial assets at fair value through profit or loss 7.06 (2.52) Other adjustments (2.75) 2.49 6,038.08 5,375.69 Working capital adjustments: Increase in trade receivables (632.76) (568.52) Decrease / (Increase) in inventories 2.07 (0.21) Decrease / (Increase) in other current and non current financial assets 0.24 (100.12) Increase in other current and non current assets (97.39) (159.56) Decrease in employee benefit obligations (802.50) (585.71) Increase in trade payables, remaining current and non current liabilities 410.97 290.91 Cash generated by operating activities 4,918.71 4,252.48 Payment of domestic and foreign taxes (net of refunds) (1,151.20) (892.41) Net cash flows generated from operating activities (A) 3,767.51 3,360.07 Investing activities Proceeds from sale of current investments 12,534.49 9,342.97 Payment for purchase of current investments (13,677.94) (10,576.00) Payment for purchase of non-current investments (5.00) (10.00) Investment in bank deposits (having original maturity of more than three months) (815.37) (303.00) Redemption / maturity of bank deposits (having original maturity of more than three months) 909.48 13.40 Proceeds from sale of property, plant and equipment 4.53 5.43 Payment for purchase of property, plant, equipment and intangibles (including capital work-in-progress) (1,039.48) (524.88) Dividend received 16.73 15.43 Interest received 144.15 108.30 Net cash flows used in investing activities (B) (1,928.41) (1,928.35) Financing activities Purchase of treasury shares by eClerx Employee Welfare Trust (1,833.83) (915.40) Money received from exercise of ESOP options 896.95 221.86 Payment of dividend and unclaimed dividend (91.84) (46.96) Interest paid (300.54) (204.87) Principal payment of lease liabilities (302.91) (239.48) Net cash flows used in financing activities (C) (1,632.17) (1,184.85) Net increase in cash and cash equivalents (A+B+C) 206.93 246.87 Cash and cash equivalents at the beginning of the period 6,967.67 5,416.97 Effect of exchange fluctuation on cash and cash equivalents 123.59 276.34 Cash and cash equivalents at the end of the period 7,298.19 5,940.18 For and on behalf of Board of Directors Place: Mumbai Kapil Jain Date: October 28, 2026 Managing Director & Group CEO Half year ended (Rupees in million) Particulars KAPIL JAIN Digitally signed by KAPIL JAIN Date: 2026.10.28 17:34:14 +05'30' NEERAJ BALKRISHAN SHARMA Digitally signed by NEERAJ BALKRISHAN SHARMA Date: 2026.10.28 18:11:59 +05'30'