ECLERX
ANNUAL REPORT
2023-24
A DATA ANALYTICS & PROCESS MANAGEMENT COMPANY
ECLERX.COM
ANNUAL REPORT 2023-24
TABLE OF CONTENTS
04 WHO WE ARE
05 OUR VALUES
06 WHAT WE DO
07 AWARDS & RECOGNITION
08 OUR LOCATIONS
10 FINANCIAL HIGHLIGHTS
12 CHAIRMAN'S MESSAGE
14 CORPORATE INFORMATION
16 ESG INITIATIVES
21 24TH ANNUAL GENERAL MEETING NOTICE
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ECLERX SERVICES LIMITED
ANNUAL REPORT 2023-24
TABLE OF CONTENTS
34 | DIRECTORS' REPORT |
56 | BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT |
90 | MANAGEMENT DISCUSSION AND ANALYSIS |
99 | CORPORATE GOVERNANCE REPORT |
125 | AUDITOR'S REPORT ON STANDALONE FINANCIALS |
135 | STANDALONE FINANCIAL STATEMENTS |
185 | AUDITOR'S REPORT ON CONSOLIDATED FINANCIALS |
194 | CONSOLIDATED FINANCIAL STATEMENTS |
251 | SHAREHOLDERS' SATISFACTION SURVEY FORM - 2024 |
Disclaimer: This Annual Report contains forward-looking information to enable investors to comprehend the Company's prospects and make informed investment decisions. This report and other statements - written and oral - that we periodically make contain forward- looking statements that set out anticipated results based on the management's plans and assumptions. We have tried, wherever possible, to identify such statements by using words such as 'anticipate,' 'estimate,' 'expects,' 'projects,' 'intends,' 'plans,' 'believes,' and words of similar substance in connection with any discussion of future performance. We cannot guarantee that these forward-looking statements will be realised, although we believe we have been prudent in assumptions. The achievement of results is subject to risks, uncertainties, and assumptions. Should known or unknown risks or uncertainties materialise or should underlying assumptions prove inaccurate, actual results could vary materially from those anticipated, estimated, or projected. We undertake no obligation to publicly update any forward- looking statements, whether as a result of new information, future events, or otherwise.
eClerx is a registered trademark of eClerx Services Limited.
ECLERX SERVICES LIMITED
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ANNUAL REPORT 2023-24
WHO WE ARE
eClerx provides critical business operations services to over fifty global Fortune 2000 clients, including some of the world's leading companies across financial services, cable & telecom, retail, fashion, media & entertainment, manufacturing, travel & leisure, software and high-tech.
Incorporated in 2000, eClerx is one of India's leading process management and data analytics companies and is today traded on both the Bombay and National Stock Exchanges of India. eClerx employs 17,000+ people across Australia, Canada, Dubai, Germany, India, Italy, Netherlands, Paris, Philippines, Singapore, Switzerland, Thailand, UK, and the USA.
eClerx is one of India's leading process management and data analytics companies.
SERVICES
We specialize in transitioning, managing and transforming complex business-facing functions for many of the world's largest organizations
Fortune 2000 Companies
Served Globally
Offices in Australia, Canada, Dubai,
Germany, India, Italy, Netherlands,
Paris, Philippines, Singapore,
Switzerland, Thailand, UK,
and the USA
$354MM in Revenue across Financial Markets, Digital, Customer Operations and Technology services
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ECLERX SERVICES LIMITED
ANNUAL REPORT 2023-24
OUR VALUES
Values define our organization; they are our guiding principles. eClerx stands for EPIC -
Excellence, People, Integrity & Client.
EXCELLENCEINTEGRITY
PEOPLECLIENT
Be passionate | Maintain the | |
and commit to | ||
highest standards | ||
doing your best | ||
of ethics, integrity, | ||
and fairness | ||
Invest in people | Make clients the | |
and bring out the | focus of what | |
best in them | you do |
ECLERX SERVICES LIMITED
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ANNUAL REPORT 2023-24
WHAT WE DO
CUSTOMER OPERATIONS
Operations Support | Technology
Solutions | Data Analytics &
Reporting | Customer Experience |
Consulting Services
eClerx Customer Operations specializes in providing operational expertise and process excellence throughout the customer journey. We create solutions and services, utilizing our domain knowledge that supports our clients' evolving needs. Our suite of offerings enhances each step of the customer journey by providing advanced analytics, automation, superior technical operations and digital care. We assist companies in developing, implementing and operating multichannel customer interaction capabilities for the external and the internal customer - facing operations
- transforming everyday touchpoints into a superior experience. In this way, we aid our clients in improving sales and retention, while reducing service costs and enhancing customer satisfaction.
Digital
Data Management | Analytics
- Insights | Digital Marketing Operations | Creative Services
eClerx Digital is the trusted partner of choice to many of the world's largest global brands for creative production, e-commerce/web operations and analytics and insights services. We help clients maximize the results of their digital activities across the customer journey. We complement existing capabilities through data analytics and marketing support. Global industry leaders partner with us
to cost-effectively scale their digital activities by leveraging our highly-skilled and blended resource model.
Markets
Derivative Trade Support | Cash
Securities Operations | Regulatory
Compliance & Data | Document
Management | Analytics |
Technology Products
For financial organizations across the world, eClerx Markets offers consulting, technological innovation, and process management expertise to solve numerous operational challenges. We are powered by digital technologies and robotic process automation that seamlessly integrate resources and capabilities to help financial institutions improve accuracy, flexibility and adaptability. Supported by more than two decades of financial services experience, our team of experts delivers holistic solutions across the trade and client lifecycles including: trade support; settlements and clearing; KYC and client on-boarding; legal documentation services, as well as reference data and advanced analytics.
Technology
Technology Products | Enterprise
Solutions | Data | Data, Cognitive
and Cloud Services
eClerx's Technology Group collaboratively delivers Analytics, RPA, AI, and Machine Learning digital technologies that enable our consultants to help businesses thrive in a connected world. Our consultants and specialists' partner with our global clients and colleagues to build and implement digital solutions through a broad spectrum of activities.
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ECLERX SERVICES LIMITED
AWARDS AND
RECOGNITION
2024 | Asia Pacific Stevie® Award | eClerx Secured Dual Gold in Asia-Pacific Stevie® Awards | ||
for Innovation in Human Resources Management and use | ||||
of Technology in Human Resource | ||||
2024 Globee® Award for | eClerx GenAI360 Platform won the Silver 2024 Globee® | |||
Technology | Award for Technology | |||
Big Innovation Award 2024 | eClerx GenAI360 Platform won BIG Innovation Award 2024 | |||
Technology of the year | eClerx Roboworx won Technology of the Year Award 2024 | |||
Award 2024 | ||||
MarTech Innovation in | eClerx won MarTech Innovation in Business Awards 2024 | |||
Business Awards 2024 | as the most client focused web design agency | |||
The Golden Peacock Award | eClerx was awarded Golden Peacock National Quality | |||
2024 | Award 2024 for most significant achievement in the field | |||
of Quality in India | ||||
E-Commerce Germany | eClerx won Bronze at the E-commerce Germany Awards | |||
Awards 2024 | for Best Analytics and BI Solution for Market360 | |||
2023 | Big Data Awards 2023 | Big Data Awards for the Project of the Year category, | ||
by Enterprise Big Data Framework. | ||||
2023 Globee® Awards for | eClerx Roboworx Named Winner in the 2023 Globee® | |||
Information Technology | Awards for Information Technology | |||
Singapore Prestige Awards | eClerx wins Business Analytics Company of the Year- | |||
2022/23 | Singapore Prestige Awards 2023 | |||
AIM's Data Engineering | Data Engineering Award for Data Democratization | |||
Award | for eClerx flagship product, Athena+ | |||
E- Commerce Germany | E- COMMERCE GERMANY AWARDS for Best Product | |||
Awards 2023 | Content Creation Tool | |||
A - Team Innovation Awards | Award for most innovative KYC investigation & due | |||
diligence | ||||
BIG Innovation Awards 2023 | BIG Innovation Awards for Roboworx from the Business | |||
Intelligence Group | ||||
2022 | The AIM Award | eClerx Wins Top Honors at ASQ International | ||
Brandon Hall Excellence | eClerx Wins Two Brandon Hall Awards for Excellence | |||
in L&D | ||||
The AIM Award | Top 50 Firms in India for Data Scientists To Work For - | |||
Analytics India Magazine | ||||
ECLERX SERVICES LIMITED
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ANNUAL REPORT 2023-24
OUR LOCATIONS
BANGKOK
390+ | 300+ |
16,500+
SALES PRESENCE
SALES OFFICE
PRODUCTION HUB
17,000+ employees supporting Client Operations in 50+ Countries
CORPORATE OFFICE
INDIA
eClerx Services Limited
4th Floor, Express Towers,
Nariman Point
Mumbai - 400 021
Maharashtra, India
Phone: +91 (022) 6614 8300
REGISTERED OFFICE
INDIA
eClerx Services Limited
CIN: L72200MH2000PLC125319
Sonawala Building, 1st Floor,
29 Bank Street, Fort
Mumbai - 400 023, Maharashtra, India
Phone: +91 (022) 6614 8301
Fax: +91 (022) 6614 8655
E-mail:investor@eClerx.com
Website: www.eClerx.com
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ECLERX SERVICES LIMITED
MUMBAI
Sonawala Building, 1st Floor
29 Bank Street, Fort,
Mumbai - 400 023
Maharashtra, India
4th Floor, Express Tower,
Nariman Point
Mumbai - 400 021
Maharashtra, India
Building # 11, 2nd, 3rd, 4th, 5th & 6th Floor,
K Raheja Mindspace, Plot #3
TTC Industrial Area,
Thane Belapur Road, Airoli,
Navi Mumbai - 400 708
Maharashtra, India
PUNE
Block 01, Wing A - LG, 1st, 2nd and 3rd
and Wing A & B 4th Floor,
Quadron Business Park,
Rajiv Gandhi Infotech Park,
Hinjewadi Phase 2
Pune - 411 057, Maharashtra, India
CHANDIGARH
1st, 2nd and 3rd Floor, Towers A & B DLF Info City Developer
Rajiv Gandhi Chandigarh Technology Park, Kishangarh, Chandigarh - 160 101, India
GURUGRAM
Ground Floor, Tower C, Building No. 6, DLF Cyber City, DLF Phase 3, Gurugram, Haryana 122002, India
COIMBATORE
Module 309, 3rd Floor,
Tidel Park Coimbatore Ltd, ELC0SEZ,
Villankurichi Village,
Civil Aerodrome Post,
Peelamedu, Coimbatore,
Tamil Nadu 641014, India
NEW YORK
286 Madison Avenue, 14th Floor
New York, NY 10017
United States of America
FAYETTEVILLE
235 N McPherson Church Road,
Suite 202, Fayetteville, NC 28303
United States of America
AUSTIN
8601 Ranch Rd, 2222 #450
Austin, TX 78730
United States of America
PHILADELPHIA
1880 John F Kennedy Blvd, Suite 400
Philadelphia, PA 19103
United States of America
LONDON
1 Dover Street, 4th floor
London, W1S 4LA, United Kingdom
HAMBURG
eClerx CLX, Barmbeker Str.8
22303 Hamburg, Germany
VERONA
eClerx CLX, Via dell'Artigianato, 8A 37135 Verona, Italy
MILAN
eClerx CLX, Via Donatello, 30
20131 Milan
Italy
eClerx CLX,
Via Andrea Solari, 11 - MILAN,
Lombardy 20144, IT
SINGAPORE
152 Beach Road, #14-05/06 Gateway East Singapore 189721
PHUKET
eClerx CLX, Chaofa Rd, Palai Soi 2 44
Moo Chalong, Sub-District Muang
Phuket, Thailand
BANGKOK
No. 7, Summer Point Building,
Soi Sukhumvit 69, Room No.304-305,
Prakhanong-Nua Sub district,
Wattana District, Bangkok
MANILA
6F Aeon Center Bldg.,
North Bridgeway, Northgate Cyberzone,
Alabang, Muntinlupa, 1781 Metro Manila,
Philippines
PARIS
59, Rue de Turenne - PARIS, Île-de-France 75003, FR
SWITZERLAND
Rue De-Candolle 22,
CH-1205 Genève,
Switzerland
DUBAI
Office#914, B2B tower,
Business Bay, Dubai, UAE
ECLERX SERVICES LIMITED | 9 | |
ANNUAL REPORT 2023-24
FINANCIAL
HIGHLIGHTS
Particulars | 2023-24 | 2022-23 | 2021-22 | 2020-21 | 2019-20 | |
Income From Operations | 29,255.43 | 26,478.97 | 21,603.45 | 15,644.91 | 14,375.71 | |
Other Income | 656.35 | 659.51 | 246.18 | 344.54 | 467.05 | |
Earnings Before Interest, | 8,404.27 | 7,881.66 | 6,852.00 | 4,824.88 | 3,702.24 | |
Depreciation, Taxes & Amortisation |
Tax Expenses
1,776.05
1,638.09
1,427.29
977.97
715.47
Profit After Tax
5,117.31
4,891.81
4,177.58
2,828.21 2,089.72
Equity Share Capital
482.32
480.34
330.98
340.06
361.00
Reserves
22,050.79 16,685.20
15,357.18 14,677.08 12,707.26