3 Data Analytics and Digital Operations Firm, Digital Engineering Company and Applications and Cloud Services Provider Stocks With a Strong Future Roadmap: eClerx Services, Mastek and Mphasis
- October 27, 2026
- Posted by: Chaitanya Auti
- Category: Best Stocks
eClerx Services, Mastek and Mphasis: ROE of 13.5% to 27.6% and FY22 to FY26 revenue CAGR of 7.5% to 17.9%. Prices as of 26 Oct 2026.
Quick Answer
The three analytics, digital engineering and IT stocks to watch are eClerx Services, Mastek and Mphasis. Their return on equity ranges from 13.5% to 27.6%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.5% to 17.9%. eClerx Services leads on both return on equity at 27.6% and revenue growth at 17.9% a year. Prices are based on the 26 October 2026 close, and this article is educational, not investment advice.
Analytics, digital engineering and IT stocks bring together companies with a visible plan for the years ahead. eClerx Services, Mastek and Mphasis cover a data analytics and digital operations firm, a digital engineering company and an applications and cloud services provider.
This list covers three analytics, digital engineering and IT stocks with complete current figures: eClerx Services, Mastek and Mphasis. Every figure comes from the latest reported financials and the 26 October 2026 market close. Companies without complete current figures were left out.
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What Are Analytics, Digital Engineering and IT Stocks?
Analytics, digital engineering and IT stocks are listed technology services companies that run digital operations, build cloud platforms and support banks and public sector clients. Their earnings depend on client budgets, deal wins, utilisation and currency.
Analytics, Digital Engineering and IT Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| eClerx Services | 1,876.6 | 18,062 | 24.8 | 17.5 | 27.6 | 0.15 |
| Mastek | 1,634.2 | 5,673 | 13.6 | 17.9 | 13.5 | 0.15 |
| Mphasis | 2,557.6 | 47,695 | 25.0 | 17.5 | 17.3 | 0.24 |
On valuation, Mastek trades at a P/E below the industry P/E, while eClerx Services and Mphasis trade above it, which reflects the growth the market already expects. Readers comparing analytics, digital engineering and IT stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Analytics, Digital Engineering and IT Stocks Have a Strong Roadmap in India?
Analytics, digital engineering and IT stocks have a strong roadmap in India because digital spending, cloud migration and outsourcing keep widening the market for Indian technology firms.
- Digital operations. Clients outsource data and process work.
- Cloud projects. Enterprises move platforms to the cloud.
- Regional strength. UK and US clients drive steady work.
Why eClerx Services Features Among These Analytics, Digital Engineering and IT Stocks
Among the analytics, digital engineering and IT stocks on this list, eClerx Services, based in Mumbai, offers data analytics, digital operations and process services to financial services, retail and technology clients.
Revenue rose from Rs 2,185 crore in FY22 to Rs 4,218 crore in FY26, a compound annual growth rate of 17.9%. Net profit grew from Rs 418 crore in FY22 to Rs 706 crore in FY26, which works out to a compound annual growth rate of 14.0%.
In the June 2026 quarter, revenue grew 23.8% year on year to Rs 1,170 crore, while net profit rose 16.0% to Rs 164 crore. The company has a return on equity of 27.6%, a debt to equity ratio of 0.15 and a market capitalisation of Rs 18,062 crore. The stock trades at a P/E of 24.8, above the industry P/E of 17.5.
Roadmap: Clients are buying more data and automation work, and eClerx is adding artificial intelligence-led offerings. A balance sheet with little debt and high returns on capital gives it flexibility to invest and return cash.
What to watch: Monitor client additions and growth in digital offerings.
Why Mastek Features Among These Analytics, Digital Engineering and IT Stocks
Among the process outsourcing and cloud services shares on this list, Mastek is a digital engineering and cloud services company that serves clients in the United Kingdom, the United States and other regions, with a strong presence in public sector, retail and financial services.
In the June 2026 quarter, revenue grew 7.8% year on year to Rs 997 crore, while net profit rose 15.0% to Rs 106 crore. Revenue rose from Rs 2,220 crore in FY22 to Rs 3,769 crore in FY26, a compound annual growth rate of 14.2%.
Net profit grew from Rs 310 crore in FY23 to Rs 404 crore in FY26, which works out to a compound annual growth rate of 9.2%. The company has a return on equity of 13.5%, a debt to equity ratio of 0.15 and a market capitalisation of Rs 5,673 crore. The stock trades at a P/E of 13.6, below the industry P/E of 17.9.
Roadmap: The company is expanding its cloud, data and software engineering work and deepening ties with existing clients. A focus on repeat engagements supports steady revenue.
What to watch: Follow client additions, order book momentum and growth in cloud and data services.
Why Mphasis Features Among These Analytics, Digital Engineering and IT Stocks
Among the three companies on this list, Mphasis is a Bengaluru-based IT services company that provides applications, cloud, data and consulting services to clients in banking, insurance and technology, especially in the United States.
The company has a return on equity of 17.3%, a debt to equity ratio of 0.24 and a market capitalisation of Rs 47,695 crore. The stock trades at a P/E of 25.0, above the industry P/E of 17.5.
Revenue rose from Rs 12,122 crore in FY22 to Rs 16,206 crore in FY26, a compound annual growth rate of 7.5%. Net profit grew from Rs 1,431 crore in FY22 to Rs 1,863 crore in FY26, which works out to a compound annual growth rate of 6.8%. In the June 2026 quarter, revenue grew 17.1% year on year to Rs 4,467 crore, while net profit rose 10.8% to Rs 490 crore.
Roadmap: The company has stressed an AI-led approach and strengthened its sales relationships with large clients. A broad client base in financial services provides recurring revenue, and its investments in cloud and data skills support growth.
What to watch: Monitor deal wins and client spending trends in banking and financial services.
eClerx Services vs Mastek vs Mphasis on Key Financials
The table below sets the three analytics, digital engineering and IT stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| eClerx Services | 2,185 | 4,218 | 17.9% | 706 | 16.7% |
| Mastek | 2,220 | 3,769 | 14.2% | 404 | 10.7% |
| Mphasis | 12,122 | 16,206 | 7.5% | 1,863 | 11.5% |
eClerx Services posts the highest return on equity in this group at 27.6%. Mphasis has the largest FY26 revenue at Rs 16,206 crore, and eClerx Services shows the fastest revenue growth with a 17.9% compound annual rate. A useful habit with analytics, digital engineering and IT stocks is to check each new quarterly result against the capacity plans the company described earlier.
The June 2026 quarter, the latest reported, gives a fresh read on momentum:
| Company | Q1 FY26 Revenue (Rs Cr) | Q1 FY27 Revenue (Rs Cr) | Year-on-Year Growth |
|---|---|---|---|
| eClerx Services | 945 | 1,170 | 23.8% |
| Mastek | 925 | 997 | 7.8% |
| Mphasis | 3,813 | 4,467 | 17.1% |
Key Risks to Check Before Investing in Analytics, Digital Engineering and IT Stocks
Every theme carries risks that deserve a check before any decision. For these analytics, digital engineering and IT stocks, the main points are: Long-term process outsourcing and cloud services shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Deal timing. Large contracts can shift between periods.
- Client budgets. Spending can vary with global conditions.
- Currency moves. Export earnings move with the rupee.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter analytics, digital engineering and IT stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Analytics, Digital Engineering and IT Stocks
Analytics, digital engineering and IT stocks suit investors who prefer to study business strength before price moves. eClerx Services, Mastek and Mphasis each have a clear plan to grow. Based on the 26 October 2026 close, eClerx Services trades at Rs 1,876.6, Mastek at Rs 1,634.2 and Mphasis at Rs 2,557.6.
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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
What are analytics, digital engineering and IT stocks?
Ans. Analytics, digital engineering and IT stocks are listed technology services companies that run digital operations, build cloud platforms and support banks and public sector clients. Their earnings depend on client budgets, deal wins, utilisation and currency. This list looks at three of them, eClerx Services, Mastek and Mphasis, using reported FY22 to FY26 financials and the 26 October 2026 closing prices.
Which analytics, digital engineering and IT stocks are covered in this list?
Ans. This list covers eClerx Services, Mastek and Mphasis. Based on the 26 October 2026 close, eClerx Services traded at Rs 1,876.6, Mastek at Rs 1,634.2 and Mphasis at Rs 2,557.6. Their return on equity ranges from 13.5% to 27.6%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.5% to 17.9%.
Why do analytics, digital engineering and IT stocks have a strong future roadmap in India?
Ans. Analytics, digital engineering and IT stocks have a strong roadmap in India because digital spending, cloud migration and outsourcing keep widening the market for Indian technology firms. The main drivers are as follows. Digital operations. Clients outsource data and process work. Cloud projects. Enterprises move platforms to the cloud. Regional strength. UK and US clients drive steady work. Together these factors give the companies on this list a visible path for growth over the coming years.
How has eClerx Services performed financially?
Ans. Revenue rose from Rs 2,185 crore in FY22 to Rs 4,218 crore in FY26, a compound annual growth rate of 17.9%. Net profit grew from Rs 418 crore in FY22 to Rs 706 crore in FY26, which works out to a compound annual growth rate of 14.0%. In the June 2026 quarter, revenue grew 23.8% year on year to Rs 1,170 crore, while net profit rose 16.0% to Rs 164 crore. The company has a return on equity of 27.6%, a debt to equity ratio of 0.15 and a market capitalisation of Rs 18,062 crore. The stock trades at a P/E of 24.8, above the industry P/E of 17.5. Looking ahead, clients are buying more data and automation work, and eClerx is adding artificial intelligence-led offerings. A balance sheet with little debt and high returns on capital gives it flexibility to invest and return cash.
How has Mastek performed financially?
Ans. Revenue rose from Rs 2,220 crore in FY22 to Rs 3,769 crore in FY26, a compound annual growth rate of 14.2%. Net profit grew from Rs 310 crore in FY23 to Rs 404 crore in FY26, which works out to a compound annual growth rate of 9.2%. In the June 2026 quarter, revenue grew 7.8% year on year to Rs 997 crore, while net profit rose 15.0% to Rs 106 crore. The company has a return on equity of 13.5%, a debt to equity ratio of 0.15 and a market capitalisation of Rs 5,673 crore. The stock trades at a P/E of 13.6, below the industry P/E of 17.9. Looking ahead, the company is expanding its cloud, data and software engineering work and deepening ties with existing clients. A focus on repeat engagements supports steady revenue.
How has Mphasis performed financially?
Ans. Revenue rose from Rs 12,122 crore in FY22 to Rs 16,206 crore in FY26, a compound annual growth rate of 7.5%. Net profit grew from Rs 1,431 crore in FY22 to Rs 1,863 crore in FY26, which works out to a compound annual growth rate of 6.8%. In the June 2026 quarter, revenue grew 17.1% year on year to Rs 4,467 crore, while net profit rose 10.8% to Rs 490 crore. The company has a return on equity of 17.3%, a debt to equity ratio of 0.24 and a market capitalisation of Rs 47,695 crore. The stock trades at a P/E of 25.0, above the industry P/E of 17.5. Looking ahead, the company has stressed an AI-led approach and strengthened its sales relationships with large clients. A broad client base in financial services provides recurring revenue, and its investments in cloud and data skills support growth.
What risks should investors check before buying analytics, digital engineering and IT stocks?
Ans. Investors should check a few risks before buying analytics, digital engineering and IT stocks. Deal timing. Large contracts can shift between periods. Client budgets. Spending can vary with global conditions. Currency moves. Export earnings move with the rupee. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of analytics, digital engineering and IT stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 26 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.