eClerx Services bonus issue aligns with strong Q3 FY26 performance and shareholder value

eClerx Services Limited is set to reward shareholders, with its Board approving a 1:1 bonus equity share issue on January 28, 2026. The move, which still requires shareholder consent via postal ballot, will double the number of equity shares held by eligible investors without any extra cash outlay.

Under the approved structure, investors holding one fully paid equity share of face value Rs 10 on the record date will receive one additional fully paid equity share of Rs 10. The record date is yet to be declared, and the company expects all necessary shareholder approvals to come through by postal ballot.

The bonus issue will involve the creation of about 4.70 crore new equity shares. These shares will be issued by capitalising approximately Rs 47 crore from retained earnings. As of March 31, 2025, audited accounts showed retained earnings of Rs 1,377.7 crore, indicating that only a small share of free reserves is needed for this corporate action.

After the allotment, eClerx’s paid-up equity share capital is expected to rise from nearly Rs 47.03 crore to around Rs 94.05 crore. The authorised share capital will remain unchanged at Rs 100 crore. The company has stated that the bonus shares should be credited or dispatched within 60 days from board approval, with March 27, 2026, as the outer limit.

Management has clarified that the new bonus equity shares will rank pari-passu with the existing equity shares. This means identical rights for all equity holders, including voting powers and dividend entitlement. Once allotted, shareholders will hold twice the number of shares, while their proportionate ownership in the company will remain the same.

The board meeting on January 28, 2026 lasted over four hours before the bonus proposal was cleared. The decision reflects the company’s comfortable reserve position and follows a period of strong operational performance. The bonus distribution, funded entirely from retained earnings, does not require any cash contribution from shareholders.

eClerx Services bonus issue and recent quarterly performance

For the quarter ended December 2025, eClerx Services Ltd. reported solid growth in key metrics. Net profit (PAT) rose 39.4% year on year to Rs 191 crore, compared with Rs 137 crore in Q3 FY25. Total income increased to Rs 1,100.4 crore from Rs 874.3 crore in the same quarter last year.

Operating revenue for Q3 FY26 stood at Rs 1,070 crore, up 25.3% year on year from Rs 853.8 crore. EBITDA grew from Rs 207 crore in Q3 FY25 to Rs 276.1 crore, showing a 33.3% yearly increase. The EBITDA margin improved to 25.8%, versus 24.3% in the corresponding quarter of the previous financial year.

Metric	Q3 FY25	Q3 FY26	YoY change
Net profit (PAT)	Rs 137 crore	Rs 191 crore	39.4%
Total income	Rs 874.3 crore	Rs 1,100.4 crore	–
Operating revenue	Rs 853.8 crore	Rs 1,070 crore	25.3%
EBITDA	Rs 207 crore	Rs 276.1 crore	33.3%
EBITDA margin	24.3%	25.8%	–

Alongside the bonus decision and earnings performance, analysts are also tracking the stock’s technical levels. "EClerx Services' stock price is bearish on the Daily charts with strong resistance at 4815. A Daily close below support of 4535 could lead to a target of 4068 in the near term," commented A R Ramachandran, part-time SEBI-registered Research Analyst, Tips2trades.

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For investors following eClerx Services, the 1:1 bonus issue highlights the company’s strong reserve base and recent profit growth. Shareholders will watch for the announcement of the record date, while market participants may weigh the bonus-adjusted valuation against the earnings trend and the technical signals flagged by analysts.