Hexaware Technologies Ltd. — Regulatory Filings 2025

Mar 12, 2025

Date: March 12, 2025

To, The Manager Listing Department National Stock Exchange of India Limited Exchange Plaza, Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051 Symbol: HEXT

Dear Sir/ Madam,

Subject: Resubmission of financial results for the quarter and year ended December 31, 2024 in machine readable form.

With reference to your email dated March 7, 2025, we are resubmission of financial results for the quarter and year ended on December 31, 2024 in machine readable format as instructed by you.

Further, please note there are no changes in financial results than those filed earlier.

Kindly take the same on record.

Yours faithfully,

For Hexaware Technologies Limited

Gunjan Methi

Company Secretary and Compliance Officer

HEXAWARE TECHNOLOGIES LIMITED

14th Floor, Central B Wing and North C Wing Western Express Highway Chartered Accountants Goregaon (East), Mumbai — 400 063, India Telephone: +91 (22) 6257 1000 Fax: +91 (22) 6257 1010

Independent Auditors Report

To the Board of Directors of Hexaware Technologies Limited

Report on the audit of the Standalone Annual Financial Results

We have audited the accompanying standalone annual financial results of Hexaware Technologies Limited (hereinafter referred to as the "Company") for the year ended 31 December 2024, 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, the aforesaid standalone annual 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 Indian Accounting Standards, and other accounting principles generally accepted in India, of the net profit and other comprehensive loss and other financial information for the year ended 31 December 2024.

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 Standalone Annual 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 obtained by us, is sufficient and appropriate to provide a basis for our opinion on the standalone annual financial results.

Management's and Board of Director: s for the Standalone Annual Finan Results

These standalone annual financial results have been prepared on the basis of the standalone annual financial statements.

The Company's Management and the Board of Directors are responsible for the preparation and presentation of these standalone annual 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 Standards prescribed under Section 133 of the Act and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company 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

Regitered Offce:

Hexaware Technologies Limited

presentation of the standalone annual financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone annual financial results, the Management and the Board of Directors 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 Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors is responsible for overseeing the Company's financial reporting process.

Our objectives are to obtain reasonable assurance about whether the standalone annual 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 whenit 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 annual 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 annual 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. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of financial statements on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the standalone annual 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 standalone annual 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 annual financial results, including the disclosures, and whether the standalone annual 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.

BSR&Co.LLP

her Matter(s)

Independent Auditor's Report (Continued) Hexaware Technologies Limited

a. The standalone annual financial results include the results for the quarter ended 31 December 2024 being the balancing figure between the audited figures in respect of the full financial year and the audited year to date figures up to the third quarter of the current financial year.

ForBSR & Co.LLP

Chartered Accountants Firm's Registration No.:101248W/W-100022

Digtally signedby JACLYN & oisouza Date: 20250307 DESOUZA 515755 0550

Jaclyn Desouza

Partner

Rovaniemi Membership No.: 124629

07 March 2025 UDIN:25124629BMOQGX5169

14th Floor, Central B Wing and North C Wing Western Express Highway Chartered Accountants Goregaon (East), Mumbai — 400 063, India Telephone: +91 (22) 6257 1000 Fax: +91 (22) 6257 1010

Independent Auditors Report

To the Board of Directors of Hexaware Technologies Limited Report on the audit of the Consolidated Annual Financial Results

We have audited the accompanying consolidated annual financial results of Hexaware Technologies Limited (hereinafter referred to as the "Holding Company") and its subsidiaries (Holding Company and its subsidiaries together referred to as "the Group"), for the year ended 31 December 2024, attached herewith, 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 audited financial statements/financial information of the subsidiaries, the aforesaid consolidated annual financial results:

• a. include the annual financial results of the entities mentioned in Annexure | to the aforesaid consolidated annual financial results
• b. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
• c. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India, of consolidated net profit and other comprehensive income and other financial information of the Group for the year ended 31 Decemebr 2024

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 Annual Financial Results section of 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 fuffilled 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 to in sub paragraph no. (a) of the "Other Matters" paragraph below, is sufficient and appropriate to provide a basis for our opinion on the consolidated annual financial results.

Management's and Board of Directors' Respon es for the Consolidated Annual Finan Results

These consolidated annual financial results have been prepared on the basis of the consolidated annual financial statements.

The Holding Company's Management and the Board of Directors are responsible for the preparation and presentation of these consolidated annual 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 Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting

Hexaware Technologies Limited

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 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 annual 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 annual financial results by the Management and the Board of Directors of the Holding Company, as aforesaid.

In preparing the consolidated annual 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.

Our objectives are to obtain reasonable assurance about whether the consolidated annual 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 whenit 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 consolidated annual 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 annual 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. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of financial statements on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the consolidated annual 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 annual 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 annual financial results, including the disclosures, and whether the consolidated annual financial results represent the Page 2 of 6

Hexaware Technologies Limited

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 annual financial results. We are responsible for the direction, supervision and performance of the audit of financial statements/financial information of such entities included in the consolidated annual financial results of which we are the independent auditors. For the other entities included in the consolidated annual financial results, 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 sub paragraph no. (a) of the "Other Matters" paragraph in this audit report.

We communicate with those charged with governance of the Holding Company and such other entities included in the consolidated annual 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 No CIR/CFD/CMD1/44/2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

Other Matter

The consolidated annual financial results include the audited financial results of eighteen subsidiaries whose financial statements/financial information reflects total assets (before consolidation adjustments) of Rs. 9,200 million as at 31 December 2024, total revenue (before consolidation adjustments) of Rs. 15,106 million, total net profit after tax (before consolidation adjustments) of Rs. 963 million and net cash inflows (before consolidation adjustments) of Rs 1,037 million for the year ended on that date, as considered in the consolidated annual 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 by the management.

Our opinion on the consolidated annual 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 annual 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.

The consolidated annual financial results include the results for the quarter ended 31 December 2024 being the balancing figure between the audited figures in respect of the full financial year and the

Hexaware Technologies Limited

audited year to date figures up to the third quarter of the current financial year.

ForBSR & Co.LLP

Chartered Accountants Firm's Registration No.:101248W/W-100022

Digtaly sgnedby JACLYN - Jaisioin Date 20250307 DESOUZA 33523 os0r

Jaclyn Desouza

Partner

Rovaniemi Membership No.: 124629

07 March 2025 UDIN:25124629BMOQGW3670

Independent Auditor's Report (Continued) Hexaware Technologies Limited

List of entities included in consolidated annual 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 Ltd	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 Inc	Subsidiary
	12 Mobiquity Velocity Solutions, Inc (Subsidiary of Mobiquity Inc.)	Subsidiary
	13 Mobiquity Codperatief U.A. (Subsidiary of Mobiquity Inc.)	Subsidiary
	14 Mobiquity BV (Subsidiary of Mobiquity Coéperatief U.A.)	Subsidiary
	known Morgan 15 Mobiquity Consulting BV (formerly Clark as (Subsidiary of Mobiquity Codperatief U.A.)	BV) Subsidiary
	16 Hexaware Technologies South Africa (Pty) Ltd	Subsidiary
	17 Hexaware Technologies ARG S.AS.	Subsidiary
	18 Hexaware Technologies Belgium SRL	Subsidiary
	19 Hexaware Technologies SL (Private) Limited	Subsidiary
	20 Softcrylic LLC	Subsidiary
21	Softcrylic Technologies Inc (Subsidiary of Softcrylic LLC)	Subsidiary
	22 Hexaware Nevada, Inc	Subsidiary
23	Hexaware Information Technolgies SDN. BHD.	Subsidiary
	24 Mobiquity Softech Private Limited	Subsidiary
	25 Softcrylic Technology Solutions India Private Limited	Subsidiary
	26 Hexaware Al Balagh Technologies LLC	Subsidiary

Hexaware Technologies Limited

Sr.No	Name of component	Relationship
	27 Hexaware Novelty Technologies Ltd	Subsidiary
	28 Hexaware Technologies LLC	Subsidiary

Hexaware Technologies Limited

Registred Office: 152 Milnnium Business Par.Sector I A Block, TTC Incustril Ars, Mahape v Murms Maharasntra - 400710, Ina i U729000H19929L COE9862 T (s91)225526 8585 E-mlkinvestorGhesauarecom Website win hexawarecom

Audited Consolidated Statement of Financial Results (Rupees i millons,except share and e share dats)

		For the quarter ended		For the year ended
	December31,2024	September30,2024	December 31,2023	December31,2024	December 31,2023
INCOME
Revenue from operations	31584	31357	26,160	119,744	103,803
Other income (Refer note &)	236	112	100	749	88
TOTALINCOME	31,780	31,469	26260	120493	103891
EXPENSES Employee benefits expense (Refer note 9,10)	18,196	18,091	15725	69,649	61282
Finance costs	207	226		660	a7
Depreciation and amortisation expense (Refer note 12)	763	738	72 939	2788	2836
Other expenses (Refer note 11)	8444	8355	7,124	31,793	26710
TOTAL EXPENSES	27,610	27410	23,860	104890	91,206
PROFIT BEFORE TAX	4,170	4,059	2,400	15,603	12,685
Tax expense
Current tax	560	1239	476	3734	2830
Deferred tax charge / (credit)	403	a7	@	129	(121
Total tax expense	963	1,062	472	3863	2,709
PROFIT FOR THE PERIOD/YEAR	3207	2997	1928	11,740	9.976
OTHER COMPREHENSIVE INCOME (OCI)
Items that will not be reclassified subsequently to profit or loss
Remeasurement of defined benefit plan	)	10	1	©2)	)
Income tax relating to items that will not be reclassified to profit or loss	3	@	@	16	9
Items that will be reclassified subsequently to profit or loss
Exchange differences on translating the financial statements of foreign operations.	386	282	191	492	410
Net change in fair value of cash flow hedges	(244)	(516)	(66)	(365)	228
Income tax relating to items that will be reclassified to profit or loss	a9	104	13	7	(@4)
TOTAL OTHER COMPREHENSIVE INCOME	189	(124)	149	124	556
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD/YEAR	339	2873	2077	11864	10532
Profit for the period/year attributable to:
Shareholders of the Company	3189	3026	1928	1764	9976
Non-controlling interests.	18	(29)	-	(24)	-
	3207	2997	1928	11,740	9.976
Other Comprehensive Income / (Losses) attributable to:
Shareholders of the Company	190	(124)	149	125	556
Non-controlling interests.	@ 189	- (124)	- 149	@ 124	- 556
Total comprehensive income for the period/year attributable to:
Shareholders of the Company	3379	2902	2077	11889	10532
Non-controlling interests.	17	(29)	-	(25)	-
	339	2873	2077	11864	10532
Paid-up Equity share capital - Equity shares of face value of Re. 1 each	608	607	607	608	607
Other equity (Including non-controlling interests)				52,938	45745
Earnings per share: Basic and diluted (Rs.)
Basic	525" 523	498 496	318 317	19.37	1645
Diluted "Not annualised				19.29	1641
Dividend per share: (Rs.)
Interim dividend on equity shares	450	-	425	875	875

Hexaware Technologies Limited Audited Consolidated Segment information

(Rupees in mitions)

		For the quarter ended			For the year ended
	December 31,2024	September 30,2024	December 31,2023	December 31,2024	December 31, 2023"
Segment Revenue
Travel and Transportation (T&T)	2488	2661	2198	9.645	8392
Financial Services (FS)	9.182	8780	7221	34131	28,264
Banking	2776	2579	2372	10,305	9,445
Healthcare & Insurance (H&I)	6645	6729	5625	25,341	22516
Hi-Tech and Professional Services (HTPS)	5772	5636	4,106	20,672	16,638
Manufacturing and Consumer (M & C)	4,681	4972	4,638	19,650	185548
Revenue from Operations	31,544	31,357	26,160	119,744	103,803
Segment Profit
Travel and Transportation (T&T)	988	1,090	856	3864	3449
Financial Services (FS)	2839	2725	2298	10,674	9,656
Banking	1,089	893	889	3823	3679
Healthcare & Insurance (H&!)	2516	2488	1973	9476	8189
Hi-Tech and Professional Services (HTPS)	2349	2208	1,665	8060	6746
Manufacturing and Consumer (M & C)	1609	1,901	1,521	7219	6694
Segment Profi	11,390	11,305	9,202	43,116	38,413
Add:
Exchange rate differences (net)	127	(20)	40	190	(136)
Other income (Excluding exchange rate differences)	109	132	60	559	224
Less:
Depreciation and amortisation	(763)	(738)	(939)	(2.788)	(2.836)
Finance costs	(207)	(226)	72)	(660)	(378)
Unallocated corporate expenses	(6.486)	(6,394)	(5.891)	(24814)	(22,602)
Profit before tax	4170	4,059	2,400	15,603	12,685
Less: Tax expense.	963	1,062	472	3863	2709
Profit after tax	3,207	2997	1928	11,740	9976

The reportable oper: segments have been identified taking into account the services offered to customers globally oper: i 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.

Notes

^"During the period ended June 30, 2024, there has been internal organization realignment, which has led to change in the calculation of Segment revenue & Segment Profit. Accordingly previous period numbers have been restated to confer the current reporting structure.

Hexaware Technologies Limited Audited Consolidated Statement of Assets and Liabilities

(Rupees in millons)

	Asat	Asat
	December 31, 2024	December 31, 2023
ASSETS
Non-current assets
Property, plant and equipment	4762	5257
Capital work-in-progress	1,308	552
Right-of-use assets	559	3761
Goodwill	23871	14,290
Other intangible assets	3366	1,227
Financial assets
Investments	4	4
Other financial assets	761	660
Deferred tax assets (net) Income tax assets (net)	2,682	2727
Other non-current assets	464 1,620	439 1,087
Total non-current assets	44,434	30,004
Current assets
Financial assets Investments
Trade receivables	-	2,506
Billed	12914	13,863
Unbilled	6841	45595
Cash and cash equivalents	19,766	17,734
Other bank balances	106	103
Other financial assets	605	115
Income tax assets (net)	191	306
Other current assets	5088	2795
Total current assets	45,511	42,017
TOTAL ASSETS	89,945	72,021
EQUITY AND LIABILITIES
Equity
Equity share capital	608	607
Other equity	52,961	45,745
Equity attributable to shareholders of the Company	53,569	46,352
Non-controlling interests Total equity	(23) 53,546	- 46,352
Non-current liabilities
Financial liabilities Least es	4,703	3151
Other financial liabilities	2,223	166
Provisions	752	794
Deferred tax liabilities (net)	"	-
Total non-current liabilities	7,678	4111
Current liabilities
Financial liabilities
Lease liabilities	1,039	785
Trade payables	9,140	6595
Other financial liabilities	10,062	6,789
Other current liabilities	3887	3327
Provisions	2416 2177	2,287
Income tax liabilties (net) Total current labilities	28,721	1,775 21,558
Total liabilities	36,399	25,669
TOTAL EQUITY AND LIABILITIES	89,945	72,021

~ value less than Rs. 0.5 million

Hexaware Technologies Limited Audited Consolidated Statement of Cash Flows

(Rupeesin milons)

	For the year ended
	December 31,2024	December 31,2023
Cash flow from operating activities
Profit before tax	15,603	12,685
Adjustments for:
Depreciation and amortisation expense	2788	2836
Employee stock option compensation cost	353	264
Interest income	(376)	(©3)
Life time expected credit loss	340	500
Net (gains)/losses on investments carried at fair value through profit or loss	(140)	(84)
Profit on sale of property, plant and equipment (PPE) (net)	3	@
Exchange rate difference (net) - unrealised	)	s
Finance costs	660	378
Operating profit before working capital changes	19,230	16512
Adjustments for: Trade receivables and other assets	(4,347)	(220)
Trade payables, other liabilties and provisions	3719	1,443
Cash generated from operating activities	18,602	17,735
Direct taxes paid (net)	(3.122)	(2,579)
Net cash generated from operating activities	15480	15156
Cash flow from investing activities
Purchase of PPE and intangible assets including capital work-in-progress and capital advances	(1,333)	(643)
Proceeds from sale of property, plant and equipment	21	9
Purchase of investments	(17,050)	(6,201)
Proceeds from sale/redemption of investments	19,696	3778
Payment towards acquisition of business (net of cash acquired)	(8:268)	-
Interest received	244	61
Net cash used in investing activities	(6,690)	(2.996)
Cash flow from financing activities
Proceeds from issue of shares / share application money	1	3
Repurchase of restricted stock units	-	(190)
Payment towards lease liabilties including interest on lease liabilities	(1,370)	(1,033)
Proceeds from short term borrowing	2930	-
Repayment of short term borrowing	(2,930)	(®37)
Interest paid	(136)	(136)
Dividend paid	(5314)	(5,308)
Net cash used in financing activi	(6,819)	(7.501)
Net increase in cash and cash equivalents	1971	4659
Cash and cash equivalents at the beginning of the year	17,734	12916
Exchange difference on translation of foreign currency cash and cash equivalents	61	159
Cash and cash equivalents at the end of the year	19,766	17,734

value less than Rs. 0.5 million

Select explanatory notes to the Audited Consolidated Statement of Financial Resuts

These results have been prepared on the basis of the aucited consoldated financial statements for the year ended December 31, 2024 which are prepared in accordance with the Ind AS notifed under the 'Companies (indian Accounting Standards) Rules, 2015 and the audited condensed Interim consolidated financil statements for the nine months period ended September 30, 2024 which are prepared in accordance with Ind AS 34 (Interim Financial Reporting. "The results have been prepared in terms of Regulation 33 o SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.

0 The figures for the quarter ended Decerber 31, 2024 are balancing figure between the audited figures for the year ended December 31,2024 and the audited year to date figures for the nine months ended September 30, 2024. (i) The figures for the quarter ended December 31, 2023 are the balancin figures between the audited figures for the year ended December 31, 2023 and the audited year to date figures for the nine months. ended September 30, 2023,

• '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 March 06, 2025, The statutory auditors have expressed an unmodified audit opinion on these results.
• ) of 123,720,440 equity shares of face value of Re. 1 each agaregating to Rs 87,500 millon as an offer for sle by seling shareholder. The equity shares. (SE")and BSE Limited (BSE')from February 19, 2025 "The Company has completed an Intial Public Offer (1P of the Company were listed on Natianal Stock Exchange of India Limited (

On May 3, 2024, the Group acquired 100% ownership interest of Softcrylic Technology Slutions India Put. Ltd (india) and Softcrylic LLC (USA) along with its group company Softerylc Inc. (Canada) for a purchase consiceration of Rs. 12314 millon which includes inital upfront cash consideration and contingent consiceration. Softerylic is 2 premier data consulting firm headauartered in USA. Softcryic has expertise in customer journeys and marketing technology and it would enable the Group to extend and customize the data Journey beyond marketing into multple lines of business. 'Considering the aforesaid business combination, the fisancial results for the year ended December 31, 2024 are not comparable with that of the previous perlods

During the year ended December 31, 2024, (a) Hexaware Technologies LLC (Russia) was liquidated we.f February 21,2024 and gain of Rs. 22 million was transferred from the Forelgn currency translation reserve (FCTR to Profit & Loss. (6) Hexaware Technologies SL (Private) Limited (i Lanka) was incorporated we. February 28, 2024, (@) Hexaware Novelty Technologies Lt (UAE) (70% ownership) was incorporated w.e.f August 13, 2024, (d) Hexaware Nevads, Inc (USA) was incorporated we.f September 11, 2024 e) Hexaware Iformation Technologies SDN. BHD. (Malaysia) was incorporated we.f December 13, 2024,

During the quarter and year ended December 31, 2024, 74,100 and 727,086 equity shares of face value of Re. 1 each were Issued on exercise of emplayee stock aptions respectively in accordance with the 'company's employee stock option schemes.

Other income includes:
					Bupees i milons)
		For the quarter ended			For the year ended
	December 31,2024	September 30,2024	December31,2023	December31,2024"	December 31,2023
Gain/floss) due to Exchange rate difference.	127	(20	0	190	(136)
"Includes gain of Rs. 22 millon transferred from FCTR to Profit & Loss. (Refer note 6(a) above)

Employee Benefit expenses includes Employee stack option compensation cost of Rs. 111 millon, 107 millon and Rs. 44 millon for the quarter ended December 31, 2024, September 30, 2024 and December 31,2023 respectively and Rs. 353 million and Rs. 264 milon for the year ended December 31, 2024 and December 31, 2023 respectively.

Employee benefits expense includes:
					Bupees i millons)
		For the quarter ended			For the year ended
	December 31,2024	September 30,2024	December31,2023	December31,2024	December 31,2023
Non-recurring Employes benefit and severance costs	-	a	66	a65	66
Enterprise Resource Planning (ERP) Transformation cost	125	136	-	a2	-
Total	125	177	6	927	6
Other expenses includes:
					Rupees i milons)
		For the quarter ended			For the year ended
	December 31,2024	September 30,2024	December31,2023	December31,2024	December31,2023
Specific provisions for custormers and onerous vendor contracts	-	-	522	96	522
Enterprise Resource Planning (ERP) Transformation cost	98	109	53	X	240
Acquisition related costs	15	13	9	N	85
1PO Related Costs	-	9	-	5	-
Regulatory Fees paid	-	170	-	170	-
Total	e	301	£	993	47
Depreciation and amortisation expense includes: 2
					Rupees i milons)
		For the quarter ended			Forthe year ended
	December 31,2024	September 30,2024	December31,2023	December31,2024	December31,2023
Amortisation of intangible assets acquired in business combination	223	209	144	723	EA
Accelerated amortisation of Rol of certain offices leases on optimisation	-	-	233	-	233
Total	223	205	377	723	04

3 During the year ended December 31, 2024, Hexaware Global Limited's ESOP plan was cancelled and was replaced by granting options of Hexaware Technologles Limited. The said grants willallow eligible employee to opt for one share of Hexaware Technologies Linited for each option held upon vesting which could be time based, performance based or event based. 20,838,300 options were outstanding as on December 31, 202¢.

"The results for the quarter and year ended December 31, 2024, are avaiable on the BSE Limited website (URL: wwwbseindia com), the National Stock Exchange of India Limited website (URL: 'i 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: U72900MH1992PLC069662

SRIKRISHNA AT RAMAKARTHIKEYAN Daie: 20250307 004027 w530

R Srikishna CEO & Execuive Director DIN.03160121 Place: Mumbai Date: March 07. 2025

Hexaware Technologies Limited e Ofce: 152 VLLENUM BUSINES PARK SECTOR 3 TTC INDUSTRAL AREA MAHAPE NAVIMUMEAIMH 400710 NOUA [———— Tek 9112239268585 Emakiesoizhoavarecom Wese wanwhesawarscom

Audited Standalone Statement of Financial Results

(Bupeesn o, exept e and persar i)

		For the Quarter ended		For the Year ended
	December 31, 2024	September 30, 2024	December 31, 2023	December 31, 2024	December 31, 2023
INCOME
Revenue from operations	16,866	16,607	12,872	62,887	49,849
Other income (Refer note 8)	77	118	168	491	343
TOTAL INCOME	16,943	16,725	13,040	63,378	50,192
EXPENSES
Employee benefits expense (Refer note 9,10)	7,711	7,795	6,688	29,710	25,430
Finance costs	168	199	40	508	241
Depreciation and amortisation expense (Refer note 12)	374	360	379	1,367	1,347
Other expenses (Refer note 11)	6,017	5,775	4,470	21,430	14,047
TOTAL EXPENSES	14,270	14,129	11,577	53,015	41,065
PROF I T BEFORE TAX	2,673	2,596	1,463	10,363	9,127
Tax expense
Current tax	301	764	449	2,287	1,957
Deferred tax charge / (credit)	403	(131)	(119)	236	(100)
Total tax expense	704	633	330	2,523	1,857
PROFIT FOR THE PERIOD/YEAR	1,969	1,963	1,133	7,840	7,270
OTHER COMPREHENSIVE INCOME (OCI)
Items that will not be reclassified subsequently to profit or loss
Remeasurement of defined benefit plan	(6)	11	15	(82)	(47)
Income tax relating to items that will not be reclassified to profit or loss	3	(4)	(3)	13	9
Items that will be reclassified subsequently to profit or loss
Net change in fair value of cash flow hedges	(243)	(490)	(68)	(365)	226
Income tax relating to items that will be reclassified to profit or loss	49	98	12	73	(44)
TOTAL OTHER COMPREHENSIVE INCOME	(197)	(385)	(44)	(361)	144
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD/YEAR	1,772	1,578	1,089	7,479	7,414
Paid-up Equity share capital - Equity shares of face value of Re. 1 each	608	607	607	608	607
Other equity				30,912	28,106
Earnings per equity share:- Basic and diluted (Rs.)
Basic	$3.24*$	$3.23*$	$1.87*$	12.91	11.99
Diluted	$3.23*$	$3.22*$	$1.86*$	12.86	11.96
* Not Annualised
Dividend per share: (Rs.)
Interim dividend on equity share	4.50		4.25	8.75	8.75

Hexaware Technologies Limited

Audited Standalone Statement of Assets and Liabilities

	(Rupees inmillons)

		Asat
	December 31,2024,	December 31, 2023
ASSETS
Non-current assets
Property, plant and equipment	4454	4799
Capital work-in-progress	1294	561
Right-of-use assets	4157	2646
Goodwill	115	115
Other intangible assets	54	73
Financial assets:
Investments.	15962	6497
Other financial assets	614	435
Deferred tax assets (net)	1321	1471
Income tax assets (net) Other non-current assets	393 651	425 287
Total non-current assets	29,015	17,309
Current assets. Financial assets:
Investments.	428	2506
Trade receivables
Billed	8810	8452
Unbilled	4,403	2836
Cash and cash equivalents	7.763	8,986
Other bank balances	106	103
Other financial assets	799	105
Other current assets	2,649	1363
Total current assets	24958	24351
TOTALASSETS	53973	41,660
EQUITY AND LIABILITIES
Equity
Equity share capital	08	607
Other equity	30912	28,106
Total equity	31520	28713
Non-current bilities.
Financial iabilties:
Lease liabilties	3.437	2111
Other financial liabilties	2223	106
Provisions	724 6384	781
Total non-current liabilities		2,998
Current liabilties
Financial liabilties: Lease liabilties	600	288
'Trade payables
Dues of micro enterprises and small enterprises	42	1
Dues of other than micro enterprises and small enterprises	5905	4461
Other financial liabilties	5612	2,639
Other current liablities	1707	791
Provisions	1,203	1165
Income tax liabilities (net)	1,000	604
	16,069	9.949
	22453	12,947
TOTAL EQUITY AND LIABILITIES	53973	41,660

Hexaware Technologies Li ited

Audited Standalone Statement of Cash Flows

(Rupess inmiins)

	For the year ended
	December 31, 2024	December 31,2023
Cash flow from operating activities
Profit before tax	10363	9427
Adjustments for:
Depreciation and amortization expense	1367	1347
Employee stock option compensation cost	146	108
Interest income	(273)	(®3)
Life time expected credit loss	7	112
Net (gains)/losses on investments carried at fair value through profit or loss	(140)	(84)
Profit on sale of property, plant and equipment (PPE) (net)	©	©
Exchange rate difference (net) - unrealised	(37)	(20)
Finance costs	508	241
Operating profit before working capital changes	12,199	10742
Adjustments for:
Trade receivables and other assets	"712)	384
'Trade payables, other liabilities and provisions	3549	3162
Cash generated from operations	11,036	14,288
Direct taxes paid (net)	(1859)	(1733)
Net cash generated from operating activities	9,177	12,555
Cash flow from investing activities
Purchase of PPE and intangible assets including CWIP and capital advances	(1081)	(522)
Proceeds from sale of property, plant and equipment	17	9
Purchase of investments	(17,050)	(6201)
Proceeds from sale / redemption of investments.	19,696	3778
Redemption of Debentures	2505	(1246)
Investment in subsidiaries	(8,484)	(24)
Interest received	277	80
Net cash (used in) / generated from investing activities	(4,120)	(4.126)
Cash flow from financing activities Proceeds from issue of shares / share application money
Repurchase of restricted stock units	1	3
Payment of lease	-	(190)
liabilities.	733)	(585)
Interest paid	(224) (5314)	(1)
Dividend paid Net cash used in from financing activities	(6:270)	(5308) (6:141)
	(1213	2288
Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year	8986	6,698
Exchange difference on translation of foreign currency cash and cash equivalents	(10)
Cash and cash equivalents at the end of the year	7.763	~ 8986

value less than Rs. 0.5 million

Select Explanatory notes to the Audited Standalone Statements of Financial Results

• These reslts have been preparec on the bass of the auited standslone financialstatements for the year ended December 31, 2024 which are prepared in accordance vith the Ind AS nofified under the Companies(Indian Accounting Standards) Rles, 2015 an the aucited condensed inerim standalone fivancial statements for the nine months peiod ence September 30, 2024 which ae prepared n accordance with Ind AS 34 (nterm Financial Reportingl. e results ave been prepared in terms of Regulation 33 of SEBI (Lsting Obligaions and Disclosure Requirements) Regulations 2015
• 2 () The fgures for the quarter ended December 31, 2024 are balancing figure between the audited iguresfor the year endeg December 31, 2024 and the audited year to date figures for the nine months ended September 30, 2024, (3) The figure for the quarter ended Decermber 31, 2023 ar the balancin figures betueen the audited figures for the year ended December 31, 2023 and the aucted year o date iguresfor the nine months ended September 30, 2023.
• 3 These resuts have been revievied by the Audit Comittee and have been approved for ssue by the Board of Directors at its meeting held on March 06, 2025, The statutory aucitors have expressed an unmodified audit opinion on these resus.
• 4 The Company has completed an Iital Public Offer (1PO") of 123,720,440 equity shares offace value of R. 1 each aggregting to Rs 87,500 millon as an offer or sale by sellng shareholder. The eauity shares of the Company were listed on National Stock Exchange of India Linited ('NSE') and BSE Liited ('BSE") from February 19, 2025,
• 5 On May 3, 2024, the company acquired 100% ownership interest of Softcrylic Technology Solutions India Pyt. Ltd (ndia and Softcrylc LLC (USA) along with it group company Softeryic Inc. (Canacel for a purchase consideration of R 12.314 Milion which includesiftia upfront cash consideration and contingent consideraton. Softerylc s a premier data consuling firm headquartered in USA. Softcrylic has expertse n customer journeys and marketing technology and it would enable the Group to extend and customize the data jourey beyond marketing into. multple s of business.

6 During the year ended December 31, 2024, (a) Hexaware Technologies LLC (Russia) vis iuidated w.e- February 21, 2024. {b) Hexaware Technologies S (Private) Limited (St Lark) v incorporated . February 28, 2024 €] Hexawiare Novelty Technologies Ltd (UAE) (70% ownership) was Incorporated we. August 13, 2024 6) Hexaware Nevad, Inc (USA) was ncorporated w.ef September 11, 2024, (e} Hexaware Information Technolgies SON. BHD. (Malaysia) was incorported w.e.f Decermber 13, 2024

7 During the quarter and year ended December 31, 2024, 74,100 and 727,086 equity shares o face value of Re. 1 each were ssud on exercise of employee stack options respectively in accordance withthe company's employee stock ogtion

8 Other ncome Includes: [R—

	For the Quarter ended				For the year ended
	December 31, 2024		September 30, 2024		December 31, 2023	December 31, 2024		December 31, 2023
Gain/(loss) due to Exchange rate difference		(21)		(132)			33	158

9 Employee Benelit expenses incudes Employee stock opton compensaton cot of R, -97 milion, 107 ilion and Rs. &4 millon for the uarter ended December 31, 2024, September 30, 2024 and December 31,2023 respectively and Rs. 146 million and Rs. 108 milion for theyear ended December 31, 2024 and December 31, 2023 respectively.

10 Employee benefts expense includes: Rupees s

	For the Quarter ended			For the year ended
	December 31, 2024	September 30, 2024	December 31, 2023	December 31, 2024	December 31, 2023
Non-recurring Employee benefit and severance costs				424
Enterprise Resource Planning (ERP) Transformation cost	120	125		446
Total	120	125		870

11 Other expenses includes: Rupees i mors

	For the Quarter ended			For the year ended
	December 31, 2024	September 30, 2024	December 31, 2023	December 31, 2024	December 31, 2023
Specific provisions for customers and onerous vendor contracts			199		199
Enterprise Resource Planning (ERP) Transformation cost	97	108	53	383	240
Acquisition related costs				117	85
IPO Related Costs
Regulatory Fees paid		170		170
Total	104	287	261	679	524

12 Depreciation and amortisation expense Includes: Rupees i mors

	For the Quarter ended			For the year ended
	December 31, 2024	September 30, 2024	December 31, 2023	December 31, 2024	December 31, 2023
Amortisation of intangible assets acquired in business combination				10	34
Accelerated amortisation of RoU of certain offices leases on optimisation
Total				10	38

13 During the year ended December 31, 2024, Hexaware Global Limitec's ESOP plan was cancelled and was replaced by granting options of Hexaware Technlogis Limited. The said grants wilalow eligible emsloyee to opt for one share of Hexaware Technologies Linited for each option hlg upon vesting which couldbe time based, performance based or event based. 20,838,300 options were outstanding s on December 31, 2024,

14 The results for the quarter and year ended December 31, 2024, are avalable on the BSE Limited website (URL: v bseindiacom), the National Stock Exchange of Inda Limited website (URLwwvinseindia.com) and on the Company's website (URL: wiw hexavare con/investor-relations)

For and on behalf of the Board of Directors of HEXAWARE TECHNOLOGIES LIMITED CIN: U72900MH1992PLC0S9662

SRIKRISHNA Oty s s RAMAKARTHIKEYA bt e s N e R icishna CE0 & Executive Director DiNo360121 Place: Mumbal Date: March 07,2025