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Hexaware Technologies Ltd. Investor Presentation 2025
35685_rns_2025-11-06_d1f353af-3569-4be5-ab5e-84021309fbaa.pdf
Investor Presentation
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HEXT/SE/2025/121
Date: November 06, 2025
To, The Manager The General Manager LisƟng Department Department of Corporate Services NaƟonal 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: Investor PresentaƟon for the quarter ended September 30, 2025.
This is with reference to and in conƟnuaƟon of our leƩer dated October 27, 2025, wherein we have inƟmated that Company will be hosƟng conference call with investor/ Analyst on November 07,2025 at 8.00 am for discussion on the financial results of the Company for the quarter ended September 30, 2025.
In this regard, we have enclosed the presentaƟon and fact sheet to be made to investor/Analysts during the conference call on the financial results and performance of the Company for the quarter ended September 30, 2025.
This is also being made available at the website of the Company i.e www.hexaware.com.
Yours faithfully,
For Hexaware Technologies Limited
GUNJAN SUMIT METHI Digitally signed by GUNJAN SUMIT METHI Date: 2025.11.06 23:23:10 +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
Investor Presentation – Q3CY25
Nov 2025
© 2025 Hexaware Technologies
Safe Harbor Statement / Forward-looking and Cautionary Statement / Disclaimer
Certain statements in this presentation 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.
Use of Non-GAAP Financials
Hexaware has included certain non-GAAP financial measures in this presentation 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 presentation 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.
Key Financial and Business Highlights
Financial Highlights Business Highlights
Revenue:
- Q3CY25: USD 394.8 Mn | INR 34,836 Mn
- o USD : +3.3% QoQ; +5.5% YoY
- o INR : +6.8% QoQ; +11.1% YoY
- o Constant Currency : +3.4% QoQ; +5.2% YoY
Profitability:
- EBITDA (1): Q3CY25: 17.5%
- o +30 bps QoQ & +154 bps YoY in % terms
- o +5.1% QoQ & +15.6% YoY in absolute terms
• Basic EPS:
o Q3CY25: INR 6.09 | -2.6% QoQ & +22.3% YoY
Cash
• Closing cash balance as of 30th Sep 2025(4) : INR 20,201 Mn (USD 228 Mn) (5)
Leadership Updates:
- Shantanu Baruah joined as H&I Vertical Head
- Eravi Gopan joined as head of High Tech, Products and Platforms.
- Siddharth Dhar has taken additional mandate as Head of AI Practice
Key People Metrics:
- Closing Headcount: 33,590
- Voluntary Attrition for IT(2): 11.4%
- Q3CY25 Utilization Rate for IT(3): 83.8%
Update on Growth accelerators:
- Material progress on Legacy Modernization
- Widespread acceptance on Vibe Coding/Vibe Engineering, and AI in all phases of SDLC
- Launched multiple Domain AI solutions, Contact center transformation
Notes: (1) EBITDA in USD terms (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 a 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 spend 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) Includes restricted cash balance and Mutual Fund Investments (5) Exchange rate used 88.8
Hexaware acquires CyberSolve to Strengthen AI-led Cybersecurity Capabilities
About CyberSolve
- CyberSolve founded in 2016 is a global specialist in identity and access management (IAM) offering consulting and systemintegration services to its clients
- Has executed 500+ implementations across sectors
- Brings onboard 230+ specialists across US, India and Canada
- ~90% of revenues from the US and balance from APAC
- Certified partner with SailPoint, Saviynt, Ping and Okta amongst others
- Post closing renamed as "CyberSolve – a Hexaware Company"
Strategic Rationale
- Tap the fast-expanding IAM market which is expected to be ~USD 100B by 2033, growing at a CAGR of 15.3%*
- CyberSolve's niche IAM capability with differentiated accelerators and tooling can act as "door openers" for sales and speed delivery
- Positions Hexaware as a fullspectrum cybersecurity partner
- Strong enterprise customer logos provide commercial validation and potential cross-sell / expansion opportunities
Leadership
- Founded by Atul Agarwal and Shubham Khandelia
- Led by professional CEO Mohit Vaish. Mohit joined CyberSolve in Dec 2023
- Mohit shall continue to lead the business reporting into Siddarth Dhar (President and Global Head – DITO and AI)
- Atul and Shubham shall continue in advisory role for the near term
Financials and Key transaction terms
- CY 2024 revenues at \$25.8M
- 9 months CY 2025 revenues of ~\$18.5M
- Deal consideration (all cash):
- o Total deal consideration (EV) of \$66M
- o \$34.5M of upfront payment and \$31.5M of performance linked payouts
Winning Across Domains: Key Successful Deals
| Global leader in Data center Infrastructure |
Top Three Canadian Bank | Large Multinational Insurance Company |
Global Marketing Agency |
|---|---|---|---|
| Digital ITO + Service Now | Large Consolidation deal | Digital ITO Services | GCC Opportunity |
| German Multinational Financial Services Company |
Global Fintech Company | Largest Video Game Streaming Platform |
Major New Zealand Bank |
| Large Consolidation deal | Product Engineering ,Client onboarding and Implementation Services |
Marketing Analytics | Tech Modernisation |
Q3CY25 Financial Highlights
Reported EBITDA 17.5%;
- +15.6% YoY growth
- 154 bps expansion YoY
- 30 bps expansion QoQ
- Reported Net Profit 10.6% +17.5% YoY growth (+108 bps YoY)
Diverse Presence Across Verticals and Geographies
Note: (1) In USD terms
* Depicts total of IT services and others as presented in the Financial Statements
© 2025 Hexaware Technologies 7
Diverse Clientele with Strong Partnerships
Note: (1) Represents revenue earned from customers.
Enhancing Operational Efficiency Through Revenue Optimization and Talent Management
Notes: (1) For IT Services (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 a 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 spend 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.
Cash Flow, ETR, and EPS Metrics
Effective Tax Rate (%) Basic EPS (INR) 25.5% 18.9% 25.0% 23.1% 26.2% Q3CY24 Q4CY24 Q1CY25 Q2CY25 Q3CY25
Notes: DSO: Days Sales Outstanding; OCF: Operating Cashflows; EPS: Earnings Per Share. (1) DSO is computed based on trailing 3 months of USD revenue
Outlook
- Demand Environment
- Improving demand, including early signs of recovery in M&C
- Short-term headwind due to Government shutdown. Restriction on visa transfers
• Updates on deals
- Two major consolidation deals won, one was new in pipeline. Continued progress in two others
- More deals expected to decide in Q4, with customer intention to start new relationship/transition in Jan 26
- Overall pipeline is largest ever but will decline in Q4 post a spate of expected decisions
- Legacy Mod pipeline growing with some deals going past POCs
- Vertical View
- FS to lead growth followed by T&T and H&I
- Banking to lead QoQ growth, will eventually lead growth
- HTPS growth headwinds due to budgets cuts and project closures, will take 1-2 quarters to resume growth
- M&C early signs of recovery
- CY25 Margin outlook :
- Reported EBIDTA outlook of 17.1% 17.2% post merit increase
Awards and Recognition
| Hexaware recognised among Top 25 Most Valuable IT Brands globally Hexaware recognised among Top 25 Most Valuable IT Brands globally |
Hexaware Ranked #1 in Service Delivery in the 2025 Whitelane Research IT Sourcing Study for UKI Hexaware Ranked #1 in Service Delivery in the 2025 Whitelane Research IT Sourcing Study for UK&I |
Hexaware Wins WOW Workplace Award 2025 Hexaware Wins WOW Workplace Award 2025 |
Dun Bradstreet Helps Sales and Marketers Speed Path from Prospect to Hexaware Recognized Among India's Leading ESG Entities by DB for the Second Consecutive Year Hexaware Recognized Among India's Leading ESG Entities by D&B for the Second Consecutive Year |
v Hexaware Won Gold Stevie for Fastest Growing Company of the Year at the 2025 American Business Awards® Hexaware Won Gold Stevie for Fastest Growing Company of the Year at the 2025 American Business Awards® |
Hexaware Named Best AI Engineering and Implementation Partner at the ET Making AI Work Awards 2025 Hexaware Named Best AI Engineering and Implementation Partner at the ET Making AI Work Awards 2025 |
Hexaware Named Most Trusted Brand of the Nation at the Asian Business Leadership Conclave 2025 Hexaware Named Most Trusted Brand of the Nation at the Asian Business & Leadership Conclave 2025 |
|---|---|---|---|---|---|---|
| Hexaware Named Among Best Tech Brands for the fourth consecutive year ET Now Hexaware Named Among Best Tech Brands for the fourth consecutive year ET Now |
Hexaware Named Among ET Now's Most Innovative Organizations 2025 Hexaware Named Among ET Now's Most Innovative Organizations 2025 |
Hexaware and PenFed Together have been Recognized as Banking and Financial Services Standout in ISG Digital Case Study Awards 2025 for NA Region |
Hexaware and Wawa Together have been Recognized as Retail Standout in ISG Digital Case Study Awards 2025 for NA Region |
Hexaware and a leading UK based insurance company Together Recognized as Finalist in 2025 ISG EMEA Paragon Awards in the Excellence Category |
Hexaware Named Leader in Development and Deployment Services - Midsize in the ISG Provider Lens™ Generative AI Services 2025 Global Quadrant Report Hexaware Named Leader in Development and Deployment Services - Midsize in the ISG Provider Lens Generative AI Services 2025 Global Quadrant Report |
Hexaware Named Leader in Strategy and Consulting Services - Midsize in the ISG Provider Lens™ Generative AI Services 2025 Global Quadrant Report Hexaware Named Leader in Strategy and Consulting Services - Midsize in the ISG Provider Lens Generative AI Services 2025 Global Quadrant Report |
| Hexaware Named Leader in AWS Enterprise Data Modernization and AI Services in the ISG Provider Lens™ AWS Ecosystem Partners 2025 US Quadrant Report Hexaware Named Leader in AWS Enterprise Data Modernization and AI Services in the ISG Provider Lens AWS Ecosystem Partners 2025 US Quadrant Report |
Hexaware Named Leader in Design Development (Products, Services and Experiences) in the ISG Provider Lens™ Digital Engineering Services 2025 US Quadrant Report Hexaware Named Leader in Design & Development (Products, Services and Experiences) in the ISG Provider Lens Digital Engineering Services 2025 US Quadrant Report |
Hexaware Named a Leader in Innovation on ServiceNow in the ISG Provider Lens™ ServiceNow Ecosystem Partners 2025 US Quadrant Report Hexaware Named a Leader in Innovation on ServiceNow in the ISG Provider Lens ServiceNow Ecosystem Partners 2025 US Quadrant Report |
Hexaware Named a Leader in Platform and Application Services in ISG Provider Lens™ Digital Engineering Services 2025 US Quadrant Report Hexaware Named a Leader in Platform and Application Services in ISG Provider Lens Digital Engineering Services 2025 US Quadrant Report |
Hexaware Named Leader in Managed End-user Technology Services - Mid Market in the ISG Provider Lens™ Future of Work Services 2025 US Quadrant Report Hexaware Named Leader in Managed End-user Technology Services - Mid Market in the ISG Provider Lens Future of Work Services 2025 US Quadrant Report |
Hexaware Named a Leader in Clinical Development (service providers) in the ISG Provider Lens™ Life Sciences Digital Services 2025 Global Quadrant Report Hexaware Named a Leader in Clinical Development (service providers) in the ISG Provider Lens Life Sciences Digital Services 2025 Global Quadrant Report |
Hexaware recognized in the 2025 Gartner® Report Midmarket Context, Global: 'Magic Quadrant for Public Cloud IT Transformation Services Published: 13 October 2025, ID: G00818689. Analysts: William Maurer, Christopher Wiles Hexaware recognized in the 2025 Gartner® Report Midmarket Context, Global: 'Magic Quadrant for Public Cloud IT Transformation Services Published: 13 October 2025, ID: G00818689. Analysts: William Maurer, Christopher Wiles |
*Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
ESG and Sustainability Awards
- Ecovadis Assessment: Hexaware is in the top 5% globally, awarded a Gold medal with a score of 80, placing in the 98th percentile worldwide
- S&P Global DJSI: Got a score of 83/100 and 97th percentile, while industry avg is 34/100
- Achilles Sustainability score: Achieved Silver medal with a score of 91 (56 is avg. industry score)
- Net Zero Summit UBS Forums 2024: Won the "Sustainable Organization of the Year 2024" award
- Earns ET Edge's Sustainable Organizations 2025 honor for decisive climate change
- Selected as Dun & Bradstreet India's Leading ESG Entity
Adopting Global Best Practices
- Committed to near-term, long-term, and Net Zero targets approved by the Science Based Targets Initiative (SBTi)
- Aligned with the frameworks of TCFD, GRI, and UN SDGs
- Submit an annual "Communication on Progress (CoP)" to the United Nations Global Compact (UNGC)
Bringing Smiles to the Planet and Communities We Live In
- Achieve net zero greenhouse gas (GHG) emissions (Scope 1 and 2) by 2040
- Transition 70% of campus electricity usage to renewable sources by 2030
- Achieve water neutrality for owned operations by 2030 and zero waste to landfill at owned facilities by 2025
- Transitioned to 71% usage of the electricity from renewable sources in our owned facilities
- 52% percent of the total energy consumed at the India campus (Pan India locations) was fed from green power (wind and solar)
Please direct all inquiries to
Investor Factsheet – Q3CY25
Nov 2025
© 2025 Hexaware Technologies
Key Financial Metrics
| Quarterly Metrics | Change | ||||
|---|---|---|---|---|---|
| In INR million unless stated otherwise | Q3CY25 | Q2CY25 | Q3CY24 | QoQ (%) | YoY (%) |
| Revenue (USD Mn) | \$394.8 | \$382.1 | \$374.2 | 3.3% | 5.5% |
| Revenue – Constant Currency (CC) | 3.4% | 5.2% | |||
| Revenue (INR Mn) | 34,836 | 32,607 | 31,357 | 6.8% | 11.1% |
| Profitability | |||||
| Reported EBITDA | 6,116 | 5,644 | 5,023 | 8.4% | 21.8% |
| Reported EBITDA Margin (%) | 17.6% | 17.3% | 16.0% | 25 bps | 154 bps |
| Reported Profit | 3,699 | 3,797 | 2,997 | (2.6%) | 23.4% |
| Reported Profit Margin (%) | 10.6% | 11.6% | 9.6% | -103 bps | 106 bps |
| Basic EPS (INR) | 6.09 | 6.25 | 4.98 | (2.6%) | 22.3% |
| Cash Flow | |||||
| LTM Operating Cash Flows (OCF) | 17,698 | 16,778 | 14,550 | 5.5% | 21.6% |
| LTM OCF to Reported EBITDA (%) | 79.6% | 79.4% | 84.0% |
Key Revenue Metrics – Q3CY25
Revenue by Vertical
| In INR million | Q3CY25 | % of Revenue |
Q2CY25 | % of Revenue |
Q3CY24* | % of Revenue |
|---|---|---|---|---|---|---|
| Financial Services | 10,325 | 29.6% | 9,784 | 30.0% | 8,743 | 27.9% |
| Healthcare and Insurance | 7,760 | 22.3% | 6,741 | 20.7% | 6,729 | 21.5% |
| Manufacturing and Consumer | 5,653 | 16.2% | 4,690 | 14.4% | 4,972 | 15.9% |
| High Tech and Professional Services | 5,338 | 15.3% | 5,649 | 17.3% | 5,636 | 18.0% |
| Banking | 3,030 | 8.7% | 2,813 | 8.6% | 2,616 | 8.3% |
| Travel and Transportation | 2,730 | 7.8% | 2,930 | 9.0% | 2,661 | 8.5% |
| Total Revenue | 34,836 | 100.0% | 32,607 | 100.0% | 31,357 | 100.0% |
Revenue by Geography
| In INR million | Q3CY25 | % of Revenue |
Q2CY25 | % of Revenue |
Q3CY24* | % of Revenue |
|---|---|---|---|---|---|---|
| Americas | 26,323 | 75.6% | 24,543 | 75.3% | 23,064 | 73.6% |
| Europe | 6,602 | 19.0% | 6,242 | 19.1% | 6,311 | 20.1% |
| Asia Pacific | 1,911 | 5.5% | 1,822 | 5.6% | 1,982 | 6.3% |
| Total Revenue | 34,836 | 100.0% | 32,607 | 100.0% | 31,357 | 100.0% |
Revenue by IT, BPS, and Others
| In INR million | Q3CY25 | % of Revenue |
Q2CY25 | % of Revenue |
Q3CY24 | % of Revenue |
|---|---|---|---|---|---|---|
| IT Services | 29,179 | 83.8% | 27,971 | 85.8% | 26,632 | 84.9% |
| BPS Services | 4,071 | 11.7% | 3,977 | 12.2% | 3,830 | 12.2% |
| Others | 1,586 | 4.6% | 659 | 2.0% | 895 | 2.9% |
| Total Revenue | 34,836 | 100.0% | 32,607 | 100.0% | 31,357 | 100.0% |
Revenue by Onshore, Offshore IT Services
| In INR million | Q3CY25 | % of Revenue |
Q2CY25 | % of Revenue |
Q3CY24 | % of Revenue |
|---|---|---|---|---|---|---|
| Onshore IT Services | 14,929 | 51.2% | 14,918 | 53.3% | 15,012 | 56.4% |
| Offshore IT Services | 14,250 | 48.8% | 13,053 | 46.7% | 11,620 | 43.6% |
| Total Revenue | 29,179 | 100.0% | 27,971 | 100.0% | 26,632 | 100.0% |
Key Revenue Metrics – Q3CY25
Revenue by Vertical
| In USD million | Q3CY25 | % of Revenue |
Q2CY25 | % of Revenue |
Q3CY24* | % of Revenue |
|---|---|---|---|---|---|---|
| Financial Services | 117 | 29.7% | 115 | 30.0% | 104 | 27.9% |
| Healthcare and Insurance | 88 | 22.3% | 79 | 20.7% | 80 | 21.5% |
| Manufacturing and Consumer | 64 | 16.2% | 55 | 14.4% | 59 | 15.9% |
| High Tech and Professional Services | 61 | 15.3% | 66 | 17.3% | 67 | 18.0% |
| Banking | 34 | 8.7% | 33 | 8.6% | 31 | 8.3% |
| Travel and Transportation | 31 | 7.8% | 34 | 9.0% | 32 | 8.5% |
| Total Revenue | 395 | 100.0% | 382 | 100.0% | 374 | 100.0% |
Revenue by Geography
| In USD million | Q3CY25 | % of Revenue |
Q2CY25 | % of Revenue |
Q3CY24* | % of Revenue |
|---|---|---|---|---|---|---|
| Americas | 298 | 75.6% | 288 | 75.3% | 275 | 73.6% |
| Europe | 75 | 18.9% | 73 | 19.1% | 75 | 20.1% |
| Asia Pacific | 22 | 5.5% | 21 | 5.6% | 24 | 6.3% |
| Total Revenue | 395 | 100.0% | 382 | 100.0% | 374 | 100.0% |
Revenue by IT, BPS, and Others
| In USD million | Q3CY25 | % of Revenue |
Q2CY25 | % of Revenue |
Q3CY24 | % of Revenue |
|---|---|---|---|---|---|---|
| IT Services | 331 | 83.8% | 328 | 85.8% | 318 | 84.9% |
| BPS Services | 46 | 11.7% | 47 | 12.2% | 46 | 12.2% |
| Others | 18 | 4.5% | 8 | 2.0% | 11 | 2.9% |
| Total Revenue | 395 | 100.0% | 382 | 100.0% | 374 | 100.0% |
Revenue by Onshore, Offshore IT Services
| In USD million | Q3CY25 | % of Revenue |
Q2CY25 | % of Revenue |
Q3CY24 | % of Revenue |
|---|---|---|---|---|---|---|
| Onshore IT Services | 169 | 51.2% | 175 | 53.3% | 179 | 56.4% |
| Offshore IT Services | 161 | 48.8% | 153 | 46.7% | 139 | 43.6% |
| Total Revenue | 331 | 100.0% | 328 | 100.0% | 318 | 100.0% |
Key Client and Operational Metrics
Customer Concentration(1)
| Q3CY25 | Q2CY25 | Q3CY24 | |
|---|---|---|---|
| Top 5 customers | 26.0% | 25.8% | 25.8% |
| Top 10 customers | 37.0% | 36.6% | 35.7% |
| Top 20 customers | 50.3% | 50.1% | 49.4% |
Client Pyramid(2)
| Q3CY25 | Q2CY25 | Q3CY24 | |
|---|---|---|---|
| \$75 million + | 3 | 3 | 3 |
| \$50 million + | 4 | 4 | 3 |
| \$20 million + | 15 | 15 | 15 |
| \$10 million + | 30 | 31 | 31 |
| \$5 million + | 65 | 66 | 59 |
| \$1 million + | 199 | 197 | 186 |
Key Employee Metrics
| Q3CY25 | Q2CY25 | Q3CY24 | |
|---|---|---|---|
| # of IT business professionals |
21,908 | 21,158 | 20,149 |
| # of BPS business professionals |
11,682 | 11,252 | 12,387 |
| Total Headcount | 33,590 | 32,410 | 32,536 |
| Voluntary Attrition rate for IT service line(3) |
11.4% | 11.1% | 11.3% |
| Utilization rate for IT(4) | 83.8% | 83.7% | 82.9% |
Notes: (1) Revenue by customer group (top 5, top 10 and top 20) is revenue derived by our Company from these customer groups on TTM basis preceding the relevant date. (2) Client Pyramid is calculated as number of active clients for respective period based on the revenue earned from these customers in the last twelve months preceding the relevant date. (3) Total number of IT business professionals and support function professionals who left the company voluntarily during a period divided by average number of IT business professionals and support function professionals during the period computed on TTM basis. (4) Total hours spent by IT business professionals 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 completion of an initial period of training of up to four months.
Other Key Metrics
| Days Sales Outstanding (DSO) | ||||||
|---|---|---|---|---|---|---|
| # of Days | Q3CY25 | Q2CY25 | Q3CY24 | |||
| DSO - Billed | 37 | 40 | 40 | |||
| DSO - Unbilled | 36 | 33 | 32 |
USD / INR Exchange Rate
| Q3CY25 | Q2CY25 | Q3CY24 | |
|---|---|---|---|
| Period Closing Rate | 88.79 | 85.76 | 83.80 |
| Period Average Rate | 88.19 | 85.27 | 83.80 |
Summary of Consolidated Statement of Profit and Loss
| Change | |||||
|---|---|---|---|---|---|
| In INR million unless stated otherwise | Q3CY25 | Q2CY25 | Q3CY24 | QoQ (%) | YoY (%) |
| Revenue (USD Mn) | 394.8 | 382.1 | 374.2 | 3.3% | 5.5% |
| Revenue – Constant Currency | 3.4% | 5.2% | |||
| Revenue (INR Mn) | 34,836 | 32,607 | 31,357 | 6.8% | 11.1% |
| Other Income(1) | 103 | 1,600 | 112 | (93.6%) | (8.0%) |
| Total Income | 34,939 | 34,207 | 31,469 | 2.1% | 11.0% |
| (-) Employee Benefits Expense(2) | 19,835 | 19,078 | 18,091 | 4.0% | 9.6% |
| (-) Other Expenses(3) | 8,988 | 9,485 | 8,355 | (5.2%) | 7.6% |
| EBITDA | 6,116 | 5,644 | 5,023 | 8.4% | 21.8% |
| EBITDA Margin (%) | 17.6% | 17.3% | 16.0% | 25 bps | 154 bps |
| (-) D&A | 889 | 752 | 738 | 18.2% | 20.5% |
| EBIT | 5,227 | 4,892 | 4,285 | 6.8% | 22.0% |
| EBIT Margin (%) | 15.0% | 15.0% | 13.7% | 0 bps | 134 bps |
| (-) Finance Costs | 260 | 209 | 226 | 24.4% | 15.0% |
| Profit before Tax | 4,967 | 4,683 | 4,059 | 6.1% | 22.4% |
| Total Tax Expense | 1,268 | 886 | 1,062 | 43.1% | 19.4% |
| Reported Profit | 3,699 | 3,797 | 2,997 | (2.6%) | 23.4% |
| Reported Profit Margin (%) | 10.6% | 11.6% | 9.6% | -103 bps | 106 bps |
| Basic EPS (INR) | 6.09 | 6.25 | 4.98 | (2.6%) | 22.3% |
(1) Other Income includes write-back of earnout payable towards an earlier acquisition amounting INR 1,587Mn for Q2CY25 (2) Employee Benefit Expenses includes non-recurring employee benefit and severance cost amounting INR 328Mn for Q2CY25 (3)Other Expenses includes acquisition related cost, specific provisions for customer and Impairment of customer contract associated with an earlier acquisition amounting INR 128Mn, INR 782Mn, INR 394Mn respectively for Q2CY25.
Summary of Consolidated Balance Sheet
| As of period ending | |||
|---|---|---|---|
| In INR million | Sep'25 | Dec'24 | |
| Assets | |||
| Property, plant and equipment and intangible assets | 10,579 | 8,128 | |
| Right-of-use assets | 5,869 | 5,596 | |
| Goodwill | 30,814 | 23,871 | |
| Capital work-in-progress | 292 | 1,308 | |
| Deferred tax assets (net) | 3,217 | 2,682 | |
| Other non-current assets and other investments | 2,133 | 2,338 | |
| Trade receivables and unbilled revenue | 28,005 | 22,531 | |
| Other current assets | 3,795 | 3,568 | |
| Cash and cash equivalents (inc. restricted and MF Investments) | 20,201 | 19,923 | |
| Total Assets | 1,04,905 | 89,945 | |
| Equity and Liabilities | |||
| Equity | 609 | 608 | |
| Other Equity and reserves | 62,252 | 52,961 | |
| Non-controlling Interests | (29) | (23) | |
| Total Equity | 62,832 | 53,546 | |
| Non-current liabilities | 1,152 | 228 | |
| Deferred tax liabilities (net) | 22 | 0 | |
| Lease liabilities | 6,288 | 5,742 | |
| Trade payables | 9,179 | 9,140 | |
| Other current liabilities | 15,268 | 13,981 | |
| Deferred consideration | 6,154 | 4,140 | |
| Provisions | 4,010 | 3,168 | |
| Total Liabilities | 42,073 | 36,399 | |
| Total Equity and Liabilities | 1,04,905 | 89,945 |
Summary of Consolidated Cash Flow Statement
| In INR million unless stated otherwise | 9MCY25 | 9MCY24 |
|---|---|---|
| Profit before tax | 14,013 | 11,433 |
| D&A, ESOP cost, Finance cost & other items | 2,621 | 2,638 |
| Changes in working capital | (4,732) | (4,820) |
| Taxes | (2,659) | (2,226) |
| Net cash (used in) / generated from operating activities (OCF) | 9,243 | 7,025 |
| Capex | (1,296) | (886) |
| Investment in MFs and Interest on Fixed Deposits | (3,051) | 1,220 |
| Payment towards acquisition of business | (4,468) | (8,184) |
| Net cash used in investing activities | (8,815) | (7,850) |
| Proceeds from issue of shares | 464 | 0 |
| Borrowings and lease payments | (1,389) | (1,161) |
| Dividend paid | (3,494) | (2,580) |
| Net cash used in financing activities | (4,419) | (3,741) |
| Net cash flow | (3,991) | (4,566) |
About Hexaware Technologies
We are a global digital and technology services company with artificial intelligence ("AI") at its 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+ of the Fortune 500 organizations.
With a team of 33,590 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/
Disclaimer
Use of Non-GAAP Financials
Hexaware has included certain non-GAAP financial measures in this presentation 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 presentation 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.
Contact
Investor Relations: Niraj Khemka, Head of Investor Relations [email protected]
Registered Office:
152, Millennium Business Park, Sector III 'A' Block, TTC Industrial Area Mahape, Navi Mumbai - 400 710, Maharashtra, India
CIN: L72900MH1992PLC069662
© 2025 Hexaware Technologies 10 https://hexaware.com/
