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Hexaware Technologies Ltd. — Interim / Quarterly Report 2026
May 6, 2026
35685_rns_2026-05-06_313d8a2e-96a4-4faa-9704-b652735ecb2a.pdf
Interim / Quarterly Report
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HEXT/SE/2026/44
Date: May 06, 2026
To, The Manager The General Manager Listing Department Department of Corporate Services National Stock Exchange of India Limited BSE Limited Exchange Plaza, Bandra-Kurla Complex, Phiroze Jeejeebhoy Towers, Bandra (East), Mumbai - 400 051 Dalal Street, Mumbai - 400 001 Symbol: HEXT Scrip Code:544362
Dear Sir/ Madam,
Subject: Outcome of the Board Meeting held on Wednesday, May 06, 2026.
Ref: Our earlier intimation under reference no. HEXT/SE/2026/35 dated April 15, 2026 ('Intimations').
Please take note of the following outcome of the Meeting of the Board of Directors of the Company, held on May 06, 2026:
- a) The Board of Directors of the Company have approved the standalone and consolidated audited financial results for the first quarter ended March 31, 2026. A copy of the Audited Financial Results of the Company, along with a copy of the Auditors' Report are enclosed as Annexure A.
- b) Press Release on Audited Financial Results for the first quarter ended March 31, 2026, is enclosed as Annexure B.
The extract of the aforesaid results will be published in the newspapers in the format prescribed under Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 along with the QR Code for accessing the same on Company's website. The aforesaid financial results will also be available on the Company's website on https://hexaware.com/investors/quarterly-results/.
The meeting commenced at 4:53 p.m. and concluded at 08:09 p.m.
Kindly take this communication on record.
Yours faithfully,
For Hexaware Technologies Limited
GUNJAN SUMIT METHI Digitally signed by GUNJAN SUMIT METHI Date: 2026.05.06 21:16:21 +05'30'
Gunjan Methi Company Secretary and Compliance Officer
HEXAWARE TECHNOLOGIES LIMITED
Regd. Office: 8th Floor, 13th Level,Q1, Loma Co-Developers1 Private Limited, Plot No.Gen-4/1,TTC Industrial Area, Ghansoli, Navi Mumbai-400710, Maharashtra, India | Tel: +91 022 3326 8585 | Email: [email protected] CIN: L72900MH1992PLC069662 | URL: www.hexaware.com
Annexure A

B S R & Co. LLP 14th Floor, Central B Wing and North C VMng Nesco IT Park 4, Nesco Center Western Express Highway Goregaon (East), Mumbai – 400 063. India Telephone: +91 (22) 6257 1000 Fax: +91 (22) 6257 1010
lnneDenaentAuaitor\$ RePort
To the Board of Directors of Hexaware Technologies Limited Report on the audit of the Consolidated Financial Results
Opinion
We have audited the accompanying Statement of Consolidated Financial Results of Hexaware Technologies Limited ("Holding Company") and its subsidiaries (Holding Company and its subsidiaries together referred to as "the Group"), for the quarter ended 31 March 2026, ("the Statement"), being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations. 2015, as amended ("Listing Regulations").
In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of reports of other auditors on separate interim audited financial statements/financial information of the subsidiaries, the Statement:
- a. includes the results of the entities mentioned in Annexure I :
- b. is presented in accordance with the requirements of Regulation 33 of the Listing Regulations as amended; and
- C. gives a true and fair view in conformity with the applicable accounting standards, and other accounting principles generally accepted in India, of consolidated profit and other comprehensive income and other financial information of the Group for the quarter ended 31 March 2026
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under section 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those SAs are further described in the Auditor's Responsibilities for the Audit of the Consolidated Financial Results sectIon ot our report. We are independent of the Group in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act. and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us, along with the consideration of reports of the other auditors referred in the "Other Matters" paragraph below, is sufficient and appropriate to provide a basis for our opinion on the consolidated financial results.
Management's and Board of Directors' Responsibilities for the Consolidated Financial Results
These quarterly consolidated financial results have been prepared on the basis of the consolidated interim financial statements.
The Holding Company's Management and the Board of Directors are responsible for the preparation and presentation of these consolidated financial results that give a true and fair view of the consolidated net profit/ loss and other comprehensive income and other financial information of the Group in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, 'Interim Financial Reporting' prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Management and Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of each company and for preventing and detecting frauds and
No. AAB-8181 ) with effect from October 14, 2013

14th Floor, Central B Wing and North C Wing, Nesco IT Park 4. Nesco Center, Western Express Highway. Goregaon (East). Mumbai - 400063 Page 1 of 5
Independent Auditor's Report (Continued)
Hexaware Technologies Limited
other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated financial results by the Management and the Board of Directors of the Holding Company, as aforesaid.
In preparing the consolidated financial results, the respective Management and the Board of Directors of the companies included in the Group are responsible for assessing the ability of each company to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.
The respective Board of Directors of the companies included in the Group is responsible for overseeing the financial reporting process of each company.
Auditor's Responsibilities for the Audit of the Consolidated Financial Results
Our objectives are to obtain reasonable assurance about whether the consolidated financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate they could reasonably be expected to inHuence the economic decisions of users taken on the basis of these consolidated financial results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the consolidated financial results, whether due to fraud or error. design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group's internal control.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the consolidated financial results made by the Management and Board of Directors.
- Conclude on the appropriateness of the Management's and Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the appropriateness of this assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the consolidated financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the consolidated financial results, including the disclosures, and whether the consolidated financial results represent the underlying transactions and events in a manner that achieves fair presentation.
- Obtain sufficient appropriate audit evidence regarding the financial statements/financial information of the entities within the Group to express an opinion on the consolidated financial results. We are responsible for the direction, supervision and performance of the audit of financial 7;q:#ri:\$71Rb e gM: r s H F o r t he o t h e r en t i t i es i n c 1 ud ed in the consolidated On an :: : n staten we a en87fMIciaFirBUTlation of such entities included in the consolidated financial results of which

Independent Auditor's Report (Continued)
Hexaware Technologies Limited
which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion. Our responsibilities in this regard are further described in the "Other Matter" paragraph in this audit report.
We communicate with those charged with governance of the Holding Company and such other entities included in the consolidated financial results of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.
Other Matters
a. The consolidated financial results include the audited financial results of 20 subsidiaries, whose interim financial statements/ financial information reflects total revenue (before consolidation adjustments) of Rs, 10,210 million, total net profit after tax (before consolidation adjustments) of Rs. 323 million for the quarter ended 31 March 2026, as considered in the consolidated financial results, which have been audited by their respective independent auditors. The independent auditor's reports on financial statements/financial information of these entities have been furnished to us.
Our opinion on the consolidated financial results, in so far as it relates to the amounts and disclosures included in respect of these entities, is based solely on the reports of such auditors and the procedures performed by us are as stated in paragraph above.
Our opinion on the consolidated financial results is not modified in respect of the above matters with respect to our reliance on the work done and the reports of the other auditors.
b. Attention is drawn to the fact that the figures for the 3 months ended 31 December 2025 as reported in these consolidated financial results are the balancing figures between audited figures in respect of the full previous financial year and the published audited year to date figures up to the third quarter of the previous financial year.
For B S R & Co. LLP
Chartered Accountants Firm's Registration No.:101248W/W-100022
Jaclyn Desouza Partner Membership No.: 124629 UDIN:26124629ZUHGZH381 3
Mumbai 06 May 2026
Page 3 of 5
Independent Auditor's Report (Continued) Hexaware Technologies Limited
| Annexure I | ||
|---|---|---|
| List of entities included in consolidated financial results. | ||
| Sr. No | Name of component | Relationship |
| 1 | Hexaware Technologies, Inc, | Subsidiary |
| 2 | Hexaware Technologies, Mexico S, De. R.L. De. C.V. | Subsidiary |
| 3 | Hexaware Technologies UK Limited | Subsidiary |
| 4 | Hexaware Technologies Asia Pacific Pte Limited | Subsidiary |
| 5 | Hexaware Technologies GmbH. | Subsidiary |
| 6 | Hexaware Technologies Canada Limited | Subsidiary |
| 7 | Hexaware Technologies Saudi LLC | Subsidiary |
| 8 | Hexaware Technologies Hong Kong Limited | Subsidiary |
| 9 | Hexaware Technologies Nordic AB | Subsidiary |
| 10 | Hexaware Information Technologies (Shanghai) Company Limited | Subsidiary |
| 11 | Mobiquity BV | Subsidiary |
| 12 | Hexaware Technologies South Africa (Pty) Ltd | Subsidiary |
| 13 | Hexaware Technologies Belgium SRL | Subsidiary |
| 14 | Hexaware Technologies ARG SAS | Subsidiary |
| 15 | Hexaware Technologies SL (Private) Limited | Subsidiary |
| 16 | Softcrylic LLC | Subsidiary |
| 17 | Hexaware Information Technologies SDN. BHD. | Subsidiary |
| 18 | Mobiquity Softech Private Limited | Subsidiary |
| 19 | Softcrylic Technology Solutions India Private Limited | Subsidiary |
| 20 | Hexaware Al Balagh Technologies LLC | Subsidiary |
| 21 | Hexaware Novelty Technologies Ltd | Subsidiary |
| 22 | Mobiquity C06peratief U. A. | Subsidiary |
| 23 | Tech SMC Square India Private Limited | Subsidiary |
| 24 | Tech SMC;Squared (GCC) India Private Limited | Subsidiary |
| 25 | SMC Squared LLC | Subsidiary |
| 26 | Hexaware Technologies Services | Subsidiary |
| 27 | Hexaware Technologies Colombia S,A.S | Subsidiary |

Page 4 of 5
28
29
30 31
Independent Auditor's Report (Continued) Hexaware Technologies Limited
Subsidiary Subsidiary Subsidiary Subsidiary CyberSolve (1) Private Limited Identity and Access solutions LLC Identity And Access Solutions Canada Inc IT Glitterz LLC

J1 u d i t e d 1C o n s o I i d a te d I n te r i 1T1 Sta te rn ent of Financial Results
| For the quarter ended | For the year ended | |||
|---|---|---|---|---|
| March 31, 2026 | December 31, 2025 | March 31, 2025 | December 31, 2025 | |
| INCOME | 36,130 | 34,782 | 32,079 | 134,304 |
| Revenue from operations | 3,820 | |||
| Change in value of contingent consideration (Refer note 6) | 264 | 2,233 | 63 | |
| Other income (Refer note 7) | (47) | (97) 36,918 |
44 32,123 |
138,187 |
| TOTAL INCOME | 36,347 | |||
| EXPENSES | 21,457 | 20,403 | 18,622 | 77,938 |
| Employee benefits expense (Refer note 8) | 290 | 312 | 224 | 1,005 |
| Finance costs | 1,237 | 735 | 3,613 | |
| Depreciation and amortisation expense (Refer note 9) | 907 | 10,600 | 8,179 | 37,252 |
| Other expenses (Refer note 10) TOTAL EXPENSES |
8,965 31,619 |
32,552 | 27,760 | 119,808 |
| PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX | 4,728 | 4,366 | 4,363 | 18,379 |
| Exceptional Items | ||||
| Impact of new Labour Codes (Refer Note 11) | 1,111 | 1,111 | ||
| PROFIT BEFORE TAX | 4,728 | 3,255 | 4,363 | 17,268 |
| Tax expense Current tax |
1,250 | 1,123 | 1,233 | 4,516 |
| Deferred tax charge / (credit) | (38) | (784) | (141) | (931) |
| Total tax expense | 1,212 | 339 | 1,092 | 3,585 |
| 3,516 | 2,916 | 3,271 | 13,683 | |
| PROFIT FOR THE PERIOD/YEAR | ||||
| OTHER COMPREHENSIVE INCOME (OCI) | ||||
| Items that will not be reclassified subsequently to profit or loss | (39) | 50 | ||
| Remeasurement of defined benefit plan | 131 | 121 | 8 | (6) |
| Income tax relating to items that will not be reclassified to profit or loss | (27) | (18) | ||
| Items that will be reclassified subsequently to profit or loss | 2,282 | 558 | 61 | 2,584 |
| Exchange differences on translating the financial statements of foreign operations | (1,758) | (67) | 399 | (971) |
| Net change in fair value of cash flow hedges Income tax relating to items that will be reclassified to profit or loss |
345 | 42 | (80) | 223 |
| 973 | 636 | 349 | 1,880 | |
| TOTAL OTHER COMPREHENSIVE INCOME | 4,489 | 3,552 | 3,620 | 15,563 |
| TOTAL COMPREHENSIVE INCOME FOR THE PERIOD/YEAR | ||||
| Profit/(Loss) for the period/year attributable to: | 3,516 | 2,919 | 3,272 | 13,692 |
| Shareholders of the Company | ۸ | (3) | (1) | (9) |
| Non-controlling interests | 3,516 | 2,916 | 3,271 | 13,683 |
| Other comprehensive income / (losses) attributable to: Shareholders of the Company |
974 | 636 | 349 | 1,881 |
| Non-controlling interests | (1) | $\lambda$ | (1) | |
| 973 | 636 | 349 | 1,880 | |
| Total comprehensive income / (losses) for the period/year attributable to: | ||||
| Shareholders of the Company | 4,490 | 3,555 | 3,621 | 15,573 |
| Non-controlling interests | (1) 4,489 |
(3) 3,552 |
(1) 3,620 |
(10) 15,563 |
| Paid-up Equity share capital - Equity shares of face value of INR 1 each | 609 | 609 | 608 | 609 |
| Other equity (Including non-controlling interests) | 62,517 | |||
| Earnings per share (INR): | ||||
| Basic | $5.77*$ | $4.79*$ | $5.38*$ | 22.51 |
| Diluted | $5.71*$ | $4.72*$ | $5.29*$ | 22.16 |
| *Not annualised | ||||
| Dividend per share (INR): | 1150 |
A representS value less than INR 0.5 million 5.75
Hexaware Technologies Limited Audited Consolidated Interim Segment Information
| For the quarter ended | For the year ended | |||
|---|---|---|---|---|
| March 31, 2026 | December 31, 2025* | March 31, 2025* | December 31, 2025* | |
| Segment Revenue | ||||
| Travel and Transportation (T&T) | 2,764 | 2.909 | 2.769 | 11,338 |
| Financial Services (FS) | 10,682 | 10,463 | 9,786 | 40,358 |
| Banking | 3,267 | 3,411 | 2,507 | 11,761 |
| Healthcare & Insurance (H&l) | 8,189 | 7,151 | 6,672 | 28,324 |
| Technology, Products and Platforms (TPP) | 830 | 797 | 1,002 | 3,242 |
| Professional Services (PS) | 4,588 | 4.367 | 4.563 | 18,474 |
| Manufacturing and Consumer (M & C) | 5,810 | 5,684 | 4,780 | 20,807 |
| Revenue from operations | 36, 130 | 34,782 | 32,079 | 134,304 |
| Segment Profit | ||||
| Travel and Transportation (T&T) | 1,253 | 1,324 | 1,263 | 5.030 |
| Financial Services (FS) | 3,407 | 3,341 | 3,255 | 13,151 |
| Banking | 1,337 | 1,279 | 1.030 | 4,483 |
| Healthcare & Insurance (H&l) | 3,009 | 2.612 | 2.614 | 10,344 |
| Technology, Products and Platforms (TPP) | 289 | 347 | 284 | 1,136 |
| Professional Services (PS) | 1,818 | 1,752 | 1,980 | 7,642 |
| Manufacturing and Consumer (M & C) | 2,207 | 2,261 | 1,917 | 8,045 |
| Segment Profit | 13,320 | 12,916 | 12,343 | 49,831 |
| Add : | ||||
| Exchange rate differences (net) | (245) | (272) | (137) | (641) |
| Change in value of contingent consideration (Refer note 6) | 264 | 2,233 | 3,820 | |
| Other income (Excluding exchange rate differences) | 198 | 175 | 181 | 704 |
| Less : | ||||
| Depreciation and amortisation | (907) | (1,237) | (735) | (3,613) |
| Finance costs | (290) | (312) | (224) | (1,005) |
| Unallocated corporate expenses | (7,612) | (9,137) | (7,065) | (30,717) |
| Profit before exceptional Items and tax | 4,728 | 4,366 | 4.363 | 18.379 |
| Less: Impact of new Labour Codes (Refer note 11) | 1,111 | 1,111 | ||
| Profit before tax | 4,728 | 3,255 | 4,363 | 17,268 |
| Less : Tax Expense | (1,212) | (339) | (1,092) | (3,585) |
| Profit for the period/year | 3.516 | 2,916 | 3.271 | 13,683 |
The reportable operating segments have been identified taking into account the services offered to customers globally operating in different industry segments based on management approach. The Chief Operating Decision Maker evaluates the Group's performance and allocates resources based on analysis of various performance indicators. The Group's organization structure reflects the industry segmentation.
Assets and liabilities are not identified to any reportable segments, since these are used interchangeably across segments and consequently, the management believes that it is not practicable or meaningful to provide segment disclosures relating to total assets and liabilities.

Note :
*There is change in segment break up as compared to December 31, 2025. As of December 31, 2025, Technology, Products and Platforms (TPP) and Professional Services (PS) were combined under Hi-Tech and Professional Services (HTPS), during the quarter it has been presented under separate heading.
(INR milions)
Select explanatory notes to the Audited Consolidated Interim Statement of Financia. Results
1 The Audited Consolidated Interim Statement of Financial Results for the quarter ended March 31, 2026 have been prepared in accordance with Ind AS 34 - Interim Financial Reporting prescribed under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules as amended from time to time. The Audited Consolidated Interim Statement of Financial Results for the quarter ended December 31, 2025 have been prepared on the basis of the audited consolidated financial statements for the year ended December 31, 2025 and the audited condensed interim consolidated financial statements for the nine months period ended September 30, 2025, which are prepared in accordance with the Ind AS notified under the Companies (Indian Accounting Standards) Rules, 2015.
The results have been prepared in terms of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.
- 2 These results have been reviewed by the Audit Committee and have been approved for issue by the Board of Directors at its meeting held on May 06, 2026. The statutory auditors have expressed an unmodified audit opinion on these results.
- 3 The equity shares of the Company were re-listed on National Stock Exchange of India Limited ("NSE") and BSE Limited ("BSE") from February 19, 2025.
- 4 113,958 equity shares of face value of INR I each were issued during the quarter ended March 31, 2026 on exercise of employee stock options in accordance with the Company's employee stock option schemes.
- 5 1,556,039 treasury shares held by a controlled trust consolidated as a part of the Company are outstanding as at March 31, 2026 (1,673,129 as at December 31, 2025) and have been excluded while calculating weighted average shares for EPS.
- 6 a) The Group has recognised a gain on remeasurement of contingent consideration (earnout) payable towards acquisItion of business amounting to INR 264 million in the quarter ended March 31, 2026 based on expected payment of the first earnout.
b) The Group has recognised a gain on remeasurement of contingent consideration (earnout) payable towards acquisition of business amounting to INR 2,233 million and INR 3,820 million in the quarter and year ended December 31, 2025 respectively, based on a settlement agreement and expected payout re-assessed based on the actual performance for the applicable period of the business acquired. nIe Group has also re-assessed carrying value of customer relations recognised on the related acquisition and has provided for impairment loss of INR I,079 million and INR 1,473 million in the quarter and year ended December 31, 2025 respectively. The impairment loss considers the value of customer relations derived based on multi-period excess earnings method using discount rate of 14.2%, best estimate of forecasted revenues, cashflows from the acquired business and underlying customer relations.
7 Other income includes: (INR millions)
| For the quarter ended | For the year ended | |||
|---|---|---|---|---|
| March 31, 2026 | December 31, 2025 | March 31, 2025 | December 31, 2025 | |
| Loss due to Exchange rate difference | (245) | (272) | (137) | (641) |
| Total | (245) | (272) | (137) | (641) |
8 Employee benefits expense includes: (INR millions)
| For the quarter ended | For the year ended | |||
|---|---|---|---|---|
| March 31, 2026 | December 31, 2025 | March 31, 2025 | December 31, 2025 | |
| Employee stock option compensation cost | 132 | 114 | 116 | 456 |
| Non-recurring Employee benefit and severance costs | 328 | |||
| Enterprise Resource Planning (ERP) Transformation cost | 52 | 75 | 107 | 371 |
| Total | 184 | 189 | 223 | 1,155 |
9 Depreciation and amortisation expense includes: (INR millions)
| For the quarter ended | For the year ended | |||
|---|---|---|---|---|
| March 31, 2026 | December 31, 2025 | March 31, 2025 | December 31, 2025 | |
| Amortisation of intangible assets acquired in business combination | 257 | 327 | 227 | 1,082 |
| Accelerated amortisation of RoU and leasehold improvements of certain offices leases on | 326 | 326 | ||
| optimisation | ||||
| Total | 257 | 653 | 227 | 1.408 |
IO Other expenses includes:
| For the quarter ended | For the year ended | |||||
|---|---|---|---|---|---|---|
| March 31, 2026 | December 31, 2025 | March 31, 2025 | December 31, 2025 | |||
| Specific charge for customers | 782 | |||||
| Enterprise Resource Planning (ERP) Transformation cost | 65 | 25 | 87 | 283 | ||
| Acquisition related costs | 29 | 174 | ||||
| Impairment of customer relations associated with earlier acquisitions | 1.302 | 1.696 | ||||
| Total | 65 | 1,356 | 87 | 2,935 |

(INR millions)
Select explanatory notes to the Audited Consolidated Interim Statement of Financial Results (continued)
- 11 On November 21, 2025, the Government of India notified the four Labour Codes the Code on Wages, 2019. the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 ('Labour Codes') which consolidate twenty-nine existing labour laws into a unified framework governing employee benefits during employment and post-employment. The Ministry of Labour & Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to changes in regulations. The Group has considered restructured compensation of its employees with effect from April 1, 2026 and assessed and disclosed the additional cost impact of these changes on the basis of the best information available, consistent with the guidance provided by the Institute of Chartered Accountants of India. Considering the materiality and regulatory-driven, nonrecurring nature of this impact, the Group has presented such incremental impact as "Impact of new Labour Codes" under "Exceptional items" in the statement of profit and loss for the quarter and year ended December 31, 2025. The incremental impact consisting of additional gratuity provision of INR 818 million and provision towards compensated absences of INR 293 million primarily arising due to change in definition of wage under the aforesaid codes. The Group continues to monitor the finalisation of rules and clarifications by the relevant Government on Labour Codes and would provide appropriate accounting effect based on such developments as needed.
- 12 a) in US: Mobiquity Velocity Solutions Inc and Mobiquity Inc (both being wholly owned step-down subsidiaries of the Company) were merged into Hexaware Technojogjes Inc. ("HTl") (wholly owned subsidiary of the Company) with effect from January O1, 2026. Further, Softcwlic LLC (wholly owned subsidiary of the Company) merged into HTI subsequent to the quarter end on receipt of certificate of merger dated May 04, 2026 giving effect to merger from May 01, 2026.
b) in Netherlands: Mobiquity Consulting BV Cwholly owned step-down subsidiary of the Company) merged into Mobiquity BV (wholly owned step-down subsidiary of the Company) with effect from January 01, 2026. The Company has received the No Objection declaration on merger from the Court of Amsterdam on January 30, 2026.
c) in India: The Company has filed application with National Company Law Tribunal {NCLT) for the merger of wholly owned subsidiaries of the Company, viz" Mobiquity Softech Private Limited and Softcrylic Technology Solutions India Private Limited with and into the Company on December 20, 2025. The Company is awaiting necessary direction from the NCLT.
13 Other Claims :
During the quarter ended June 30, 2025, one of the European Customer had disputed the amount payable to the Group of USD 9.1 million (equivalent to INR 782 million). The mediation proceedings initiated did not culminate in a settlement and hence the Group initiated formal recovery proceedings by filing a complaint against the Customer before the United States District Court for the Southern District of New York (SDNY). Since then, A Berlin court has placed the Customer under preliminary insolvency administration following the self-filing for insolvency proceedings. The Group had taken charge of the said receivable in the statement of profit and loss in the quarter ended June 30, 2025.
During the year ended December 31, 2025, the Group received a notice from Natsoft Corporation and Updraft LLC (''Plaintiff"), for alleged infringement of certain patents and breach of contract by the Company and its material subsidiary "Hexaware Technologies Inc". The Plaintiff has claimed USD 500 million. The Group has filed motion to dismiss the infringement claim filed by Natsoft Corporation and Updraft LLC in United States District Court, Northern District of Illinois, Eastern Division. Based on the assessment, the Group believes that the complaint is without any merit and is unlikely to result in an adverse order and, accordingly, does not expect the same to have any material financial impact on the Group.
- 14 On April 27, 2026, the Board of Directors of the Company have declared an interim dividend of INR 8.50 per equity share of INR I each.
- 15 The results for the quarter ended March 31, 2026, are available on the BSE Limited website (URL: www,bseindia.com), the National Stock Exchange of India Limited website (URL: www.nseindia.com) and on the Company's website (URL: www.hexaware.com/investor-relations).
For and on behalf of the Board of Directors of HEXAWARE TECHNOLOGIES LIMITED CIN: L72900MH 1992PLC069662
bIN 03160121 Place: Mumbai Date: May 06, 2026
Chartered Accountants
B S R & Co. LLP 14th Floor, Central B Wing and North C Wing Nesco IT Park 4, Nesco Center Western Express Highway Goregaon (East), Mumbai - 400 063, India Telephone: +91 (22) 6257 1000 Fax: +91 (22) 6257 1010
lnaeDenUentAuaitors RePort
To the Board of Directors of Hexaware Technologies Limited
Report on the audit of the Standalone Financial Results
Opinion
We have audited the accompanying standalone quarterly financial results of Hexaware Technologies Limited ("the Company") for the quarter ended 31 March 2026. (in which are included financial information of an Employee Stock Option Plan (ESOP) trust) attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").
In our opinion and to the best of our information and according to the explanations given to us, these standalone financial results:
- a. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
- b. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards, and other accounting principles generally accepted in India, of the net profit, other comprehensive loss and other financial information for the period ended 31 March 2026
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under section 143(1 o) of the Companies Act, 2013 ("the Act"). Our responsibilities under those SAs are further described in the Auditor's Responsibilities for the Audit of the Standalone Financial Results section of our report. We are independent of the Company, in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained, is sufficient and appropriate to provide a basis for our opinion.
Management's and Board of Directors'/Board of Trus1 Responsibilities for the Standalone Financial Results
These quarterly financial results have been prepared on the basis of the interim financial statements.
The Company's Management and the Board of Directors are responsible for the preparation of these standalone financial results that give a true and fair view of the net profit/ loss and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, 'Interim Financial Reporting' prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Management and Board of Directors of the Company/Board of Trustees of the ESOP trust are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of each Company/ESOP trust and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial results that give a true and fair view and are

14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East). Mumbai - 400063 Page 1 of 3
Independent Auditor's Report (Continued)
Hexaware Technologies Limited
free from material misstatement. whether due to fraud or error,
In preparing the standalone financial results, the Management and the Board of Directors/Board of Trustees are responsible for assessing the Company's ability to continue as a going concern, disclosing as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors/Board of Trustees either intends to liquidate the Company/ESOP trust or to cease operations, or has no realistic alternative but to do so.
The respective Board of Directors/Board of Trustees are also responsible for overseeing the financial reporting process of each Company/ESOP trust.
Auditor's Responsibilities for the Audit of the Standalone Financial Results
Our objectives are to obtain reasonable assurance about whether the standalone financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists, Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone financial results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the standalone financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the standalone financial results made by the Management and Board of Directors.
- Conclude on the appropriateness of the Management's and Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern, if we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the standalone financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the standalone financial results, including the disclosures, and whether the standalone financial results represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable. related safeguards.

Independent Auditor's Report (Continued)
Hexaware Technologies Limited
Other Matter
Attention is drawn to the fact that the figures for the 3 months ended 31 December 2025 as reported in these standalone financial results are the balancing figures between audited figures in respect of the full previous financial year and the published audited year to date figures up to the third quarter of the previous financial year.
For B S R & Co. LLP
Chartered Accountants Firm's Registration No.:101248W/W-1 00022
Jaclyn Desouza Partner Membership No.: 124629 UDIN:26124629WAPNXX831 2
Mumbai 06 May 2026
Hexaware Technologies Limited
Registered Office: 8th floor. 13th Level. Ql, Loma Co- Developersl Private Limited, Plot no. Gen'4/1, TTC IndustrIal Area.Ghansoli, Navi Mumbai . 4CX)710. Maharashtra, India
CIN: L72900MH1992PLC069662
Tel: (+91) 22 33268585 E-mail: [email protected] Website:www.hexaware.com
Audited Standalone Interim Statement of Financial Results
| For the quarter ended | For the year ended | |||
|---|---|---|---|---|
| March 31, 2026 | December 3:1, 2025 | March 31, 2025 | December 31, 2025 | |
| INCOME | ||||
| Revenue from operations | 19,722 | 18.596 | 17,641 | 73,888 |
| Other income (Refer note 6) | (98) | (68) | 22 | 169 |
| TOTAL INCOME | 19,624 | 18.528 | 17,663 | 74,057 |
| EXPENSES | ||||
| Employee benefits expense (Refer note 7) | 8,697 | 8,681 | 7,776 | 32,920 |
| Finance costs | 135 | 179 | 184 | 675 |
| Depreciation and amortisation expense (Refer note 8) | 414 | 395 | 350 | 1,472 |
| Other expenses (Refer note 9) | 7,541 | 6,647 | 6,246 | 27,553 |
| TOTAL EXPENSES | 16,787 | 15.902 | 14,556 | 62,620 |
| PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX | 2,837 | 2.626 | 3.107 | I1,437 |
| Exceptional Items | ||||
| Impact of new Labour Codes (Refer Note 12) | 1,033 | 1,033 | ||
| PROFIT BEFORE TAX | 2,837 | 1,593 | 3,107 | 10,404 |
| Tax expense | ||||
| Current tax | 643 | 945 | 709 | 3,043 |
| Deferred tax charge / (credit) | 56 | (355) | 6 | (435) |
| Total tax expense | 699 | 590 | 715 | 2,608 |
| PROFIT FOR THE PERIOD/YEAR | 2,138 | 1,003 | 2,392 | 7,796 |
| OTHER COMPREHENSIVE INCOME (OCI) | ||||
| Items that will not be reclassified subsequently to profit or loss | ||||
| Remeasurement of defined benefit plan | 134 | 83 | (39) | 11 |
| Income tax relating to items that will not be reclassified to profit or loss | (27) | (16) | 8 | (3) |
| Items that will be reclassified subsequently to profit or loss | ||||
| Net change in fair value of cash flow hedges | (1.758) | (67) | 399 | (971) |
| Income tax relating to items that will be reclassified to profit or loss | 345 | 42 | (80) | 223 |
| TOTAL OTHER COMPREHENSIVE INCOME/(LOSS) | (1,306) | 42 | 288 | (740) |
| TOTAL COMPREHENSIVE INCOME FOR THE PERIOD/YEAR | 832 | 1,045 | 2,680 | 7,056 |
| Paid-up Equity share capital - Equity shares of face value of INFI 1 each Other equity |
609 | 609 | 608 | 609 31.983 |
| Earnings per share: (INR) | ||||
| Basic | 3.51" | 1.65* | 3.94' | 12.82 |
| Diluted | 3.47' | 1.62' | 3.87'' | 12.62 |
| ' Not Annualised |
Dividend per share: (INR)
Interim dividend on equity shares 5.75 11.50

(INFI in millions, except share and per share data)
Select Explanatory notes to the AudIted Standalone Interim Statements of FInancIal Results
tim
1 he Audltcd Standaboe lntcrim Statement of Flnanda1 Results for the quarter erHed DecenBer 31, 2025 have been prepared on the basIs of the audited standabne fhanchl statenunts tor the year ended December 31. 2025 and the audted condensed hMm sbndalone m<xlths per}ad ended September 30. 2025, whkh are prepared in accordance with the Ind AS notified under the Companies (Indian Accounting Standardsi Rulesl 20IS. The results have been prepared in terms of RegulatIon 33 of SEBI (LIstIng Obl18atkins and DIsclosure Requirements) Regulations 2015'
2 These results have been revIewed by the Audit Comlntttee and appraved for Issue by the Board of DIrectors at Its meetIng held on May 06, 2026. The statutaW audltors have expnssed an unmu#tIed audIt optnJm onthcseresults'
3 The equity shares of the Company were roasted on Natiuul Stock ExchanBe of India Urdted {-NSE") and BSE Limited t'BSE") from FebruarY 191 2025.
4 113l958 equIty shares at face value of INR I each were Issued during the CHarter ended March 31, 2026 on exercIse of emploYee stock qtkns in accudance w'th the CompanY's emploYee stock optIon schemes'
5 1.s56.039 keasury shares held by a tontloled tlust consolidated as a part of the Company are outsbndln8 as at March 31, 2026 (1.673.129 as at December 31. 2025) arx1 have been excluded whlle akubUnB weighted wenBeshatesfvEPS'
| 6 Other income includes: | ||||
|---|---|---|---|---|
| March 31, 2026 | For the Quarter ended December 31, 2025 |
March 31, 2025 | For the year ended December 31, 2025 |
|
| Loss due to Exchange rate difference | (257) | (212) | (105) | (35) |
| (257) | (212) | (105) | (35) | |
| 7 Employee benefits expense includes: | ||||
| For the Quarter ended | For the year ended | |||
| March 31, 2026 | December 31, 2025 | March 31, 2025 | December 31, 2025 | |
| Employee stock option compensation | 36 | 31 | 46 | 13 |
| Non-recurring Employee benefit and severance costs | $\overline{\phantom{a}}$ | $\overline{\phantom{a}}$ | 328 | |
| Enterprise Resource Planning (ERP) Transformation cost | 52 | 75 | 106 | 365 |
| Total | 88 | 106 | 152 | 828 |
| 8 Depreciation and amortisation expense includes: | ||||
| For the Quarter ended | For the year ended | |||
| March 31, 2026 | December 31, 2025 | March 31, 2025 | December 31, 2025 | |
| Amortisation of intangible assets acquired in business combination | $\overline{2}$ | 3 | $\mathbf{1}$ | |
| Total | $\overline{\phantom{a}}$ | $\overline{2}$ | $\overline{3}$ | 10 |
| 9 Other expenses includes: | ||||
| For the Quarter ended | For the year ended | |||
| March 31, 2026 | December 31, 2025 | March 31, 2025 | December 31, 2025 | |
| Enterprise Resource Planning (ERP) Transformation cost | 65 | 25 | 87 | 283 |
| Acquisition related costs | $\mathbf{r}$ | 25 | ٠ | 170 |
| Total | 65 | 50 | 87 | 453 |
1 0 :: I=a Te===::TsIIT:1E:o : : : i= = : :::s =rn:= = ===:dd: I==F= == = :: : :== == = : ==:: 1=: LTIII :it : TII:::::/:Tr:==: if iTs:= = : : iin:liT: ::raIL :: SiIT+T: ::yorhTaT:::==IItT;ILinT :IT:: : an adverse order and. accwdjngty, does not expect the same to have any materIal flnandal Impact on the Canpny.
11 a) 111 us: MoUqdty vdodty Sduuons lnc and Mobhuity lnc (both being wM>ly owned step-down subsidiaries of the CompanY) wwe meFged into Hexaware Technologies Inc- fF+TIn twhdIY cmned subsidiarY of the Compa[M with effect ftolv\ JanuaWO1'2026' Company is awaItIng necessary directIon from the NCLT.
would provide approprIate accalntinB effect based on such devdoWcnts as needed.
13 On MI 27p 2026. ale Board of Directors of the Company have declared an interim dividemi of INFI 8.SO per equitY share of INFI 1 each
14 The results for the quarter ended March 31. 2026. are available on the BSE LImIted websIte (URL www.bseindh.com). the NaUonal Stock Exchange of Iraia Umlted websIte (URLwHDw'nsehdia'com) and m the Company's websIte URL w'hexaware'com/InvestN-rebtbns I'
For and on behalf of the Board of DIrectors of HEXAWARE TECHNOLOGIES LIMfTED
Place: MumbaI Date: May Q6, 2026
Hexaware
FOR IMMEDIATE RELEASE
Hexaware Reports Q1CY26 Revenue at USD 388.5 Mn, Up 4.6% YoY Q1CY26 EPS at INR 5.77, Increase of 7.2% YoY
Mumbai, May 06, 2026 – Hexaware Technologies (NSE: HEXT), a global provider of IT solutions and services, today announced financial results for the first quarter of calendar year 2026 ended March 31, 2026.
Financial Summary and Highlights
| USD Mn | INR Mn | |||||
|---|---|---|---|---|---|---|
| Q1CY26 | QoQ (%) | YoY (%) | Q1CY26 | QoQ (%) | YoY (%) | |
| Revenue | 388.5 | (0.1%) | 4.6% | 36,130 | 3.9% | 12.6% |
| EBIT | 50.4 | 78.0% | (5.1%) | 4,801 | 88.9% | 5.7% |
| PAT | 36.9 | 13.5% | (3.7%) | 3,516 | 20.6% | 7.5% |
| Q1CY26 | |||
|---|---|---|---|
| Constant Currency Growth | QoQ % | YoY % | |
| Revenue | (0.3%) | 3.2% |
Revenue:
- Q1CY26: USD 388.5 Mn | INR 36,130 Mn
- o USD: (0.1%) QoQ and +4.6% YoY | INR: +3.9% QoQ and +12.6% YoY
- o Constant Currency: (0.3%) QoQ and +3.2% YoY
Profitability:
- EBIT(1):
- o Q1CY26: 13.0% | (6 bps) QoQ and (133 bps) YoY in % terms
- o (0.6%) QoQ and (5.1%) YoY in absolute terms
- Basic EPS:
- o Q1CY26: INR 5.77 | 20.5% QoQ and +7.2% YoY
Key Client Metrics
- Added two more customers in the USD 10Mn+ category (LTM basis), increasing the total to 34 from 32 in the previous quarter
- Top 10 customer revenue concentration at 35.9% in Q1CY26 (LTM basis)
Key People Metrics
- Closing Headcount: 33,798, QoQ net reduction of 46 with 124 net addition in IT
- Voluntary Attrition for IT(2) : 11.1%
- Q1CY26 Utilization Rate for IT(3) : 82.6%
Other Key Metrics
- DSO (Billed + Unbilled) at 75 in Q1CY26, of which Billed is 44
- LTM Q1CY26 Operating Cash Flow (OCF) to Reported Profit % at 125.1%
- Cash and Cash Equivalents Position as of Mar 31, 2026, is USD 220 Mn(4) (5)
Leadership Speak
" The most defensible moat in the AI world is trust in relationships with customers. Our customers trust us to be their AI transformation partner to bring the power of AI to all facets of their IT and business. This represents a significant growth opportunity, and we are well poised to accelerate growth through 2026."
R. Srikrishna, CEO
"Q1 continued to reflect the strength and discipline of our financial engine. We had yet another quarter of strong cash generation, with industry leading LTM OCF to PAT conversion of 125%+. This healthy balance sheet and consistent cash flows enabled us to declare the first interim dividend of ₹8.5 per share, reinforcing our commitment to disciplined capital allocation and shareholder returns"
Vikash Jain, CFO
Notes: (1) EBIT in USD terms, QoQ and YoY growth is calculated against adjusted EBIT. (2) Voluntary attrition rate for the IT service line is calculated as the total number of IT business professionals and support function professionals who left the company voluntarily during the period, divided by the average number of IT business professionals and support function professionals during the period, computed on a trailing twelve-month basis. (3) Utilization rate for IT is calculated as the total hours IT business professionals spent on customer-billed assignments, divided by the total available base hours. IT business professionals designated as Mavericks (campus hires) are included in the utilization computation after the completion of an initial training period of up to four months. (4) This includes restricted cash balance and MF investments (5) Exchange rate used is 94.84.
Financial Performance
Revenue Performance by Vertical
| In USD Million | Q1CY26 QoQ |
Q1CY26 YoY |
|---|---|---|
| Financial Services | (1.8%) | 1.4% |
| Healthcare and Insurance | 9.8% | 13.5% |
| Manufacturing and Consumer | (1.6%) | 13.2% |
| Professional Services | 1.3% | (6.3%) |
| Banking | (7.8%) | 21.1% |
| Travel and Transportation | (8.9%) | (7.5%) |
| Technology, Products & Platforms | (0.4%) | (23.5%) |
| Total Revenue | (0.1%) | 4.6% |
Revenue Performance by Geography
| In USD Million | Q1CY26 QoQ |
Q1CY26 YoY |
|---|---|---|
| Americas | 0.2% | 2.5% |
| Europe | 0.9% | 11.6% |
| Asia Pacific | (6.6%) | 9.8% |
| Total Revenue | (0.1%) | 4.6% |
Key Wins
- Won a digital ITO and cloud migration deal with a premier American audio equipment manufacturer
- Secured the second phase of a consolidation deal with a large global bank
- Won a consolidation deal with a large European bank
- Secured a consolidation deal with a global professional services firm
- Selected by a US-based data storage company for AI-led fab optimization
- Selected by a leading digital workspace platform for Agentic Application Maintenance and Support (AMS)
- Selected by a top-tier American data center company for identity-led cybersecurity
- Secured an opportunity to scale GCC with a leading provider of wealth management and technology solutions
Condensed Consolidated Statements of Financial Position
Consolidated Statement of Profit and Loss– Quarterly
| Change | |||||
|---|---|---|---|---|---|
| In INR million (unless stated otherwise) | Q1CY26 | Q4CY25 | Q1CY25 | QoQ (%) | YoY (%) |
| Revenue (USD Mn) | 388.5 | 389.0 | 371.5 | (0.1%) | 4.6% |
| Revenue – Constant Currency | (0.3%) | 3.2% | |||
| Revenue (INR Mn) | 36,130 | 34,782 | 32,079 | 3.9% | 12.6% |
| (-) Employee Benefits Expense | 21,457 | 20,403 | 18,622 | 5.2% | 15.2% |
| (-) Other Expenses | 8,965 | 10,600 | 8,179 | (15.4%) | 9.6% |
| (-) D&A | 907 | 1,237 | 735 | (26.7%) | 23.4% |
| Reported EBIT | 4,801 | 2,542 | 4,543 | 88.9% | 5.7% |
| Reported EBIT Margin (%) | 13.3% | 7.3% | 14.2% | 598 bps | -87 bps |
| (+) Other Income | -47 | -97 | 44 | (51.5%) | (206.8%) |
| (+) Change in FV of Cont. Consideration | 264 | 2,233 | - | (88.2%) | - |
| (-) Finance Costs | 290 | 312 | 224 | (7.1%) | 29.5% |
| Profit Before Exceptional Items and Tax | 4,728 | 4,366 | 4,363 | 8.3% | 8.4% |
| Impact of New Labour Codes | - | 1,111 | - | - | - |
| Profit Before Tax | 4,728 | 3,255 | 4,363 | 45.3% | 8.4% |
| Total Tax Expense | 1,212 | 339 | 1,092 | 257.5% | 11.0% |
| Reported Profit | 3,516 | 2,916 | 3,271 | 20.6% | 7.5% |
| Reported Profit Margin (%) | 9.7% | 8.4% | 10.2% | 135 bps | -47 bps |
| Basic EPS (INR) | 5.77 | 4.79 | 5.38 | 20.5% | 7.2% |
Consolidated Balance Sheet Statement
| As of period ending | ||
|---|---|---|
| In INR million | Mar'26 | Dec'25 |
| Assets | ||
| Property, plant and equipment, and intangible assets | 9,706 | 9,415 |
| Right-of-use assets | 6,359 | 6,116 |
| Goodwill | 37,778 | 35,768 |
| Capital work-in-progress | 497 | 505 |
| Deferred tax assets (net) | 4,496 | 4,043 |
| Other non-current assets & investments in Equity Shares | 1,826 | 1,789 |
| Trade receivables and unbilled revenue | 30,678 | 25,431 |
| Other current assets | 4,905 | 4,655 |
| Cash and cash equivalents (inc. restricted and Mutual Fund Investments) | 20,891 | 21,324 |
| Total Assets | 1,17,136 | 1,09,046 |
| Equity and Liabilities | ||
| Equity | 609 | 609 |
| Other equity and reserves | 67,214 | 62,549 |
| Non-controlling interests | (33) | (32) |
| Total Equity | 67,790 | 63,126 |
| Non-current liabilities | 1,267 | 535 |
| Deferred tax liabilities (net) | 20 | 23 |
| Lease liabilities | 7,132 | 6,807 |
| Trade payables | 8,972 | 10,069 |
| Other current liabilities | 20,538 | 17,458 |
| Contingent consideration | 6,297 | 6,354 |
| Provisions | 5,120 | 4,674 |
| Total Liabilities | 49,346 | 45,920 |
| Total Equity and Liabilities | 1,17,136 | 1,09,046 |
Consolidated Statement of Cash Flows
| In INR million (unless stated otherwise) | Q1CY26 | Q1CY25 |
|---|---|---|
| Profit before tax | 4,728 | 4,363 |
| D&A, ESOP cost, Finance cost & other items | 1,075 | 1,241 |
| Changes in working capital | (5,235) | (5,162) |
| Taxes | (644) | (549) |
| Net cash used in operating activities (OCF) | (76) | (107) |
| Capex | (410) | (440) |
| Investment in MFs and Interest on Fixed Deposits | 517 | 279 |
| Payment toward acquisition of business | (215) | - |
| Net cash used in investing activities | (108) | (161) |
| Proceeds from issue of shares | 51 | - |
| Borrowing and lease payments | (591) | (463) |
| Net cash used in financing activities | (540) | (463) |
| Net cash outflow | (724) | (731) |
Conference Call Information
Hexaware Technologies will host its Q1 financial earnings conference call for CY 2026 on May 07, 2026, at 8:00 AM (IST), for investors and analysts following the announcement of the results to the stock exchanges.
Please find below the options to join the conference call.
Option 1 – Webcast
Participants who would like to join the video webcast can use the below link for registration:
https://hexaware-q1cy26-earnings-call-may-2026.open-exchange.net/
The session will include a live Q&A opportunity, and a recording will be available on the Company's website a few hours after the call concludes.
Option 2 – Dial In (Listen Only)
Please join the call 5–10 minutes early to ensure that you are connected to the call on time.
To join the listen-only line, kindly use the dial-in ID and passcode provided below:
Webinar ID: 929 7554 5508 Password: 266701
| Location | Phone Number |
|---|---|
| India | • +91 22 71 279 525 |
| • +91 226 480 2722 |
|
| Toll Free: | |
| • 000 800 050 2340 |
|
| Singapore | • +65 3165 1065 |
| Toll Free: | |
| • 800 852 6054 |
|
| Hong Kong | • +852 5803 3731 |
| Toll Free: | |
| • 800 931 645 |
|
| United Arab Emirates | Toll Free: |
| • 800 035 704 555 |
|
| United Kingdom | • +44 203 481 5240 |
| Toll Free: | |
| • 0 800 358 2817 |
|
| United States | • +1 646 876 9923 |
| Toll Free: | |
| • 833 548 0276 |
More international numbers available here: https://openexc.zoom.us/u/acYBFboRAZ
Additionally, the Investor presentation and call transcript will be made available on the Company's website at www.hexaware.com.
About Hexaware
We are a global digital and technology services company with artificial intelligence ("AI") at our core. We leverage technology to deliver innovative solutions that help our customers in their digital transformation journey and subsequent operations. We embed AI into every aspect of our solutions and have created a suite of platforms and tools that allow our customers to adapt, innovate, and optimize in this AI-first era. We serve a diverse range of customers, including 30+ Fortune 500 organizations. With a team of 33,798 employees in 30+ countries, our presence is spread across major countries, nationalities, languages, time zones, and regulatory zones. For more information, please visit https://hexaware.com/.
Forward-looking Statements
Certain statements in this press release concerning our future growth prospects, litigations are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on work visa ,immigration, our ability to manage our international operations, the effect of current and any future tariffs, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, technological disruptions and innovations such as Generative AI ,our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies' products and platforms in which Hexaware has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies, the outcome of pending litigation and unauthorized use of our intellectual property and general economic conditions affecting our industry. The Company may, from time to time, make additional written and oral forward statements. We do not undertake to update any forward statements that may be made from time to time by us or on our behalf unless required under the law.
Disclaimer
Use of Non-GAAP Financials
Hexaware has included certain non-GAAP financial measures in this Press release to supplement Hexaware's consolidated financial statements presented on a GAAP basis. These non-GAAP financial measures may have limitations as analytical tools, and these measures should not be considered in isolation or as a substitute for analysis of Hexaware's results as reported under GAAP. The non-GAAP financial information that we provide also may differ from the non-GAAP information provided by other companies. We compensate for the limitations on our use of these non-GAAP financial measures by relying primarily on our GAAP financial statements and using non-GAAP financial measures only supplementally. We believe that providing these non-GAAP financial measures in addition to the related GAAP measures provides investors with greater transparency. We further believe that providing this information better enables investors to understand Hexaware's operating performance and financial condition
Rounding Off
Certain amounts and percentage figures included in this Press Release have been subject to rounding adjustments. Accordingly, figures shown as totals in certain tables may not be an arithmetic aggregation of the figures preceding them
Investor Relations Contact
Niraj Khemka Head of Investor Relations [email protected]
Media Contact
Reena Kamble Senior Manager – Marketing [email protected]