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Hexaware Technologies Ltd. Investor Presentation 2026
35685_rns_2026-05-06_6f9f0138-6f00-49f4-8687-67b23c7910f1.pdf
Investor Presentation
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HEXAWARE
HEXT/SE/2026/45
Date: May 06, 2026
To,
The Manager
Listing Department
National Stock Exchange of India Limited
Exchange Plaza, Bandra-Kurla Complex,
Bandra (East), Mumbai - 400 051
Symbol: HEXT
The General Manager
Department of Corporate Services
BSE Limited
Phiroze Jeejeebhoy Towers,
Dalal Street, Mumbai - 400 001
Scrip Code:544362
Dear Sir/ Madam,
Subject: Investor Presentation for the first quarter ended March 31, 2026.
This is with reference to and in continuation of our letter dated April 16, 2026, wherein we have intimated that the Company will be hosting conference call with Investors/ Analysts on May 07, 2026 at 8.00 am (IST) for discussion on the financial results of the Company for the first quarter ended March 31, 2026.
In this regard, we have enclosed the presentation and fact sheet to be presented to Investors/Analysts during the conference call on the financial results and performance of the Company for the quarter ended March 31, 2026.
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: 2026.05.06
21:20:37 +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
HEXAWARE
Investor Presentation - Q1CY26
May 2026
© 2026 Hexaware Technologies
HEXAWARE
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.
© Hexaware Technologies. Confidential briefing.
Key Financial and Business Highlights
Business Highlights
The Pivot to AI
- Addressing 12 new archetypes of opportunities/revenues due to AI
- Proactive offers to all our customers to deliver significant productivity due to AI in SDLC, Data and IT Operations
- Launched our AIOps reasoning platform as part of the latest Tensai® release
- Plan to hold an AI day shortly after Q2CY26 results
Key People Metrics:
- Closing Headcount: 33,798, QoQ net reduction of 46 with 124 net addition in IT
- 11th straight quarter of IT headcount addition
- Voluntary Attrition for IT(1): 11.1%
- Q1CY26 Utilization Rate for IT(2): 82.6%
Key Customer Metrics:
- Added 2 more customers in the 10Mn+ category (LTM basis) taking the total count of 10Mn+ customers to 34 compared to 32 in the previous quarter
Financial Highlights
Revenue:
- Q1CY26: USD 388.5 Mn | INR 36,130 Mn
- USD: (0.1%) QoQ; +4.6% YoY
- INR: +3.9% QoQ; +12.6% YoY
- Constant Currency: (0.3%) QoQ; +3.2% YoY
Profitability:
- EBIT (3):
- Q1CY26: 13.0% | (6 bps) QoQ & (133 bps) YoY in % terms
- (0.6%) QoQ & (5.1%) YoY in absolute terms
- Basic EPS:
- Q1CY26: INR 5.77 | +20.5% QoQ & +7.2% YoY
Cash:
- Closing cash balance as of 31st March 2026: USD 220 Mn (4)(5)
Notes: (1) 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. (2) 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. (3) EBIT in USD terms, QoQ and YoY growth calculated against Adjusted EBIT (4) Includes restricted and MF investments (5) Exchange rate used 94.84.
© 2026 Hexaware Technologies
Hexaware AI Strategy for Customers
HEXAWARE
© Hexaware Technologies. Confidential briefing.
AI in IT - We Bring AI Into IT Under Customer Defined Guardrails.
HEXAWARE
Efficiency, Reliability, and Guardrail-driven Autonomy
© Hexaware Technologies. Confidential briefing.
AI for Business – Building Agentic AI Models Together
HEXAWARE
Our approach to AI for Business is built on six foundations
© Hexaware Technologies. Confidential briefing.
HEXAWARE
Winning Across Domains: Key Successful Deals
| Large audio equipment manufacturer
Digital ITO + cloud migration + customer experience | Large Global bank
Second phase of Consolidation deal | Large European bank
Consolidation deal | Global Professional services firm
Consolidation deal |
| --- | --- | --- | --- |
| US based data storage company
Al for business optimizing fab performance | Leading digital workspace platform company
Agentic AMS | Top tier American data center giant
Identity led cybersecurity | Leading provider of wealth management and technology solutions
GCC opportunity |
© 2026 Hexaware Technologies
HEXAWARE
Q1CY26 Financial Highlights
Revenue (USD Mn)
Reported EBIT (USD Mn)
Revenue (INR Mn)
Reported Profit (USD Mn)
Q1CY26 reported EBIT of 13.0%
- -6 bps QoQ vs Q4CY25 adjusted EBIT of 13.0% (adjusted for Q4 related one timers)
- +570 bps vs Q4CY25 reported EBIT of 7.3%
© 2026 Hexaware Technologies
Diverse Presence Across Verticals and Geographies
HEXAWARE
Vertical Split (%)
| Q1CY26 | ||
|---|---|---|
| Growth (%) (1) | QoQ | YoY |
| Financial Services | (1.8%) | 1.4% |
| Healthcare & Insurance | 9.8% | 13.5% |
| Manufacturing & Consumer | (1.6%) | 13.2% |
| Professional Services | 1.3% | (6.3%) |
| Banking | (7.8%) | 21.1% |
| Travel & Transportation | (8.9%) | (7.5%) |
| Technology, Products & Platforms | (0.4%) | (23.5%) |
Note: (1) In USD terms
* Depicts total of IT services and others as presented in the Financial Statements
© 2026 Hexaware Technologies
Geographic Split (%)
| Q1CY26 | ||
|---|---|---|
| Growth (%) (1) | QoQ | YoY |
| Americas | 0.2% | 2.5% |
| Europe | 0.9% | 11.6% |
| Asia Pacific | (6.6%) | 9.8% |
IT - BPS Split(%)
| Q1CY26 | ||
|---|---|---|
| Growth (%) (1) | QoQ | YoY |
| IT Services & Others* | (0.6%) | 4.9% |
| BPS Services | 3.2% | 2.4% |
DE
DEXAWARE
Diverse Clientele with Strong Relationship
Client Pyramid (# LTM)
Note: (1) Represents revenue earned from customers.
Revenue Contribution by Customer Group (%)
© 2026 Hexaware Technologies
ENHancing Operational Efficiency Through Revenue Optimization and Talent Management
HEXAWARE
Revenue Mix – Onshore & Offshore (%) (1)
Voluntary Attrition Rates (%) (2)
IT Business Professionals
Total Headcount (#)
Utilization Rates (%) (3)
IT Business Professionals
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.
© 2026 Hexaware Technologies
HEXAWARE
Cash Flow, ETR, and EPS Metrics
DSO (Days) (1)
Effective Tax Rate (%)
LTM OCF / Reported Profit - Cash Conversion (%)
Basic EPS (INR)
Notes-DSO-Days Sales Outstanding; OCF: Operating Cashflows; EPS: Earnings Per Share.
(1) DSO is computed based on trailing 3 months of USD revenue
© 2026 Hexaware Technologies
REAFAWARE
Reaffirm revenue growth floor of 7.6%
Update on Deals:
- Q1 witnessed strong deal momentum, with wins across consolidation, outsourcing, and transformation programs
- AI in SDLC single largest driver of deal activity and differentiation
- In the GSE consolidation program, we have been selected as one of three strategic vendors. We expect stability in this client
- We closed Phase II win with a large global bank, which is expected to translate into meaningful revenue contribution in H2 CY26
- We also secured two additional consolidation wins in an European bank and global professional services firm, further strengthening our financial services and professional services portfolios
Revenue Outlook:
- We are reiterating the CY26 baseline revenue growth of 7.6%
- The outlook is underpinned by ramp-up of previously won large deals, complemented by strong conversion from recent wins, positioning us well for improved growth momentum through the year
- CY26 Vertical Outlook:
- Banking, H&I and M&C are expected to lead the growth for CY26
- PS and FS to follow
- T&T is expected to lag due to macro
Margin Outlook:
- We are reiterating the EBIT margin guidance of 13.0%-14.0%
- Margin will improve through the year specially in H2 with an exit rate higher than CY26
© 2026 Hexaware Technologies
Appendix
HEXAWARE
Awards and Recognition after
© 2026 Hexaware Technologies
Creating Meaningful Impact Beyond Business
HEXAWARE
ESG and Sustainability Awards
- Ecovadis Assessment: Hexaware is in the top 5% globally, awarded a Gold medal with a score of 82, placing us in the 98th percentile worldwide
- S&P Global CSA: Got a score of 83/100 and 97th percentile, featured in the yearbook in the inaugural year of assessment
- CDP assessment: Improved score for “Climate Change” & “Water Security” to “B”
- Recognized among “Best organizations for Women by ET Edge
- Net Zero Summit – UBS Forums 2025: Won the “Sustainable Organization of the Year 2025” award
- Earned 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
Goals
- 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
- Achieve Zero waste to landfill at owned facilities by 2025
Actual performance
- 83% usage of electricity from renewable sources in our owned facilities (Chennai, Pune & Nagpur campus, Buildings 1, 3, 152 & 157 at Mumbai)
- 59% percent of the total energy consumed across all India locations was fed from green power
- Achieved zero waste to landfill at owned facilities in 2025
1,29,455 Lives Benefitted Through Our CSR Efforts
| Educational Initiatives and Skill Development | Healthcare Initiatives | Environmental Stewardship | Women's Empowerment | Sports Initiatives |
|---|---|---|---|---|
© 2026 Hexaware Technologies
Thank You
Please direct all inquiries to
HEXAWARE
HEXAWARE
Investor Factsheet – Q1CY26
May 2026
© 2026 Hexaware Technologies
HEXAWARE
Key Financial Metrics
| Quarterly Metrics | 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 (CC) | (0.3%) | 3.2% | |||
| Revenue (INR Mn) | 36,130 | 34,782 | 32,079 | 3.9% | 12.6% |
| Profitability | |||||
| Reported EBIT (USD Mn) | 50.4 | 28.3 | 53.1 | 78.0% | (5.1%) |
| Reported EBIT Margin (%) | 13.0% | 7.3% | 14.3% | 570 bps | -133 bps |
| Adjusted EBIT (USD Mn)* | 50.4 | 50.7 | 53.1 | (0.6%) | (5.1%) |
| Adjusted EBIT Margin (%)* | 13.0% | 13.0% | 14.3% | -6 bps | -133 bps |
| Reported EBIT (INR Mn) | 4,801 | 2,542 | 4,543 | 88.9% | 5.7% |
| Reported EBIT Margin (%) | 13.3% | 7.3% | 14.2% | 598 bps | -87 bps |
| Reported Profit (USD Mn) | 36.9 | 32.5 | 38.3 | 13.5% | (3.7%) |
| Reported Profit Margin (%) | 9.5% | 8.4% | 10.3% | 114 bps | -82 bps |
| Reported Profit (INR Mn) | 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% |
| Cash Flow | |||||
| LTM Operating Cash Flows (OCF) | 17,422 | 17,391 | 13,478 | 0.2% | 29.3% |
| LTM OCF to Reported Profit (%) | 125.1% | 127.1% | 110.3% | - | - |
- For Q4CY25, adjusted EBIT excludes one-time charges related to expected credit loss (111 bps), impairment of intangibles acquired in an earlier acquisition (372 bps), and accelerated amortization of RoU of certain office leases (93 bps).
© 2026 Hexaware Technologies
HEXAWARE
Key Revenue Metrics – Q1CY26
Revenue by Vertical
| In INR million | Q1CY26 | % of Revenue | Q4CY25* | % of Revenue | Q1CY25* | % of Revenue |
|---|---|---|---|---|---|---|
| Financial Services | 10,682 | 29.6% | 10,463 | 30.1% | 9,786 | 30.5% |
| Healthcare and Insurance | 8,189 | 22.7% | 7,151 | 20.6% | 6,672 | 20.8% |
| Manufacturing and Consumer | 5,810 | 16.1% | 5,684 | 16.3% | 4,780 | 14.9% |
| Professional Services | 4,588 | 12.7% | 4,367 | 12.6% | 4,563 | 14.2% |
| Banking | 3,267 | 9.0% | 3,411 | 9.8% | 2,507 | 7.8% |
| Travel and Transportation | 2,764 | 7.7% | 2,909 | 8.4% | 2,769 | 8.6% |
| Technology, Products & Platforms | 830 | 2.3% | 797 | 2.3% | 1,002 | 3.1% |
| Total Revenue | 36,130 | 100.0% | 34,782 | 100.0% | 32,079 | 100.0% |
Revenue by Geography
| In INR million | Q1CY26 | % of Revenue | Q4CY25* | % of Revenue | Q1CY25* | % of Revenue |
|---|---|---|---|---|---|---|
| Americas | 26,946 | 74.6% | 25,881 | 74.4% | 24,426 | 76.1% |
| Europe | 7,043 | 19.5% | 6,698 | 19.3% | 5,842 | 18.2% |
| Asia Pacific | 2,141 | 5.9% | 2,203 | 6.3% | 1,811 | 5.6% |
| Total Revenue | 36,130 | 100.0% | 34,782 | 100.0% | 32,079 | 100.0% |
Revenue by IT, BPS, and Others
| In INR million | Q1CY26 | % of Revenue | Q4CY25 | % of Revenue | Q1CY25 | % of Revenue |
|---|---|---|---|---|---|---|
| IT Services | 30,582 | 84.6% | 29,732 | 85.5% | 27,215 | 84.8% |
| BPS | 4,396 | 12.2% | 4,093 | 11.8% | 3,975 | 12.4% |
| Others | 1,152 | 3.2% | 957 | 2.8% | 889 | 2.8% |
| Total Revenue | 36,130 | 100.0% | 34,782 | 100.0% | 32,079 | 100.0% |
Revenue by Onshore, Offshore IT Services
| In INR million | Q1CY26 | % of Revenue | Q4CY25 | % of Revenue | Q1CY25 | % of Revenue |
|---|---|---|---|---|---|---|
| Onshore IT Services | 15,753 | 51.5% | 15,431 | 51.9% | 14,818 | 54.4% |
| Offshore IT Services | 14,829 | 48.5% | 14,301 | 48.1% | 12,397 | 45.6% |
| Total Revenue | 30,582 | 100.0% | 29,732 | 100.0% | 27,215 | 100.0% |
- Previous period numbers have been restated to reflect internal organization realignment of customers to verticals and geographies
© 2026 Hexaware Technologies
HEXAWARE
Key Revenue Metrics – Q1CY26
Revenue by Vertical
| In USD million | Q1CY26 | % of Revenue | Q4CY25* | % of Revenue | Q1CY25* | % of Revenue |
|---|---|---|---|---|---|---|
| Financial Services | 115 | 29.6% | 117 | 30.1% | 113 | 30.5% |
| Healthcare and Insurance | 88 | 22.6% | 80 | 20.6% | 77 | 20.8% |
| Manufacturing and Consumer | 63 | 16.1% | 64 | 16.3% | 55 | 14.9% |
| Professional Services | 49 | 12.7% | 49 | 12.6% | 53 | 14.2% |
| Banking | 35 | 9.0% | 38 | 9.8% | 29 | 7.8% |
| Travel and Transportation | 30 | 7.6% | 33 | 8.4% | 32 | 8.6% |
| Technology, Products & Platforms | 9 | 2.3% | 9 | 2.3% | 12 | 3.1% |
| Total Revenue | 389 | 100.0% | 389 | 100.0% | 372 | 100.0% |
Revenue by Geography
| In USD million | Q1CY26 | % of Revenue | Q4CY25* | % of Revenue | Q1CY25* | % of Revenue |
|---|---|---|---|---|---|---|
| Americas | 290 | 74.6% | 290 | 74.4% | 283 | 76.2% |
| Europe | 76 | 19.4% | 75 | 19.2% | 68 | 18.2% |
| Asia Pacific | 23 | 5.9% | 25 | 6.3% | 21 | 5.6% |
| Total Revenue | 389 | 100.0% | 389 | 100.0% | 372 | 100.0% |
Revenue by IT, BPS, and Others
| In USD million | Q1CY26 | % of Revenue | Q4CY25 | % of Revenue | Q1CY25 | % of Revenue |
|---|---|---|---|---|---|---|
| IT Services | 329 | 84.7% | 333 | 85.5% | 315 | 84.8% |
| BPS | 47 | 12.2% | 46 | 11.8% | 46 | 12.4% |
| Others | 12 | 3.2% | 11 | 2.7% | 10 | 2.8% |
| Total Revenue | 389 | 100.0% | 389 | 100.0% | 372 | 100.0% |
Revenue by Onshore, Offshore IT Services
| In USD million | Q1CY26 | % of Revenue | Q4CY25 | % of Revenue | Q1CY25 | % of Revenue |
|---|---|---|---|---|---|---|
| Onshore IT Services | 170 | 51.5% | 173 | 51.9% | 172 | 54.4% |
| Offshore IT Services | 159 | 48.5% | 160 | 48.1% | 144 | 45.6% |
| Total Revenue | 329 | 100.0% | 333 | 100.0% | 315 | 100.0% |
- Previous period numbers have been restated to reflect internal organization realignment of customers to verticals and geographies
© 2026 Hexaware Technologies
HEXAWARE
Key Client and Operational Metrics
Customer Concentration(1)
| Q1CY26 | Q4CY25 | Q1CY25 | |
|---|---|---|---|
| Top 5 customers | 25.6% | 25.9% | 25.7% |
| Top 10 customers | 35.9% | 36.4% | 36.2% |
| Top 20 customers | 49.1% | 49.8% | 49.8% |
Client Pyramid(2)
| Q1CY26 | Q4CY25 | Q1CY25 | |
|---|---|---|---|
| $75 million + | 3 | 3 | 3 |
| $50 million + | 4 | 4 | 3 |
| $20 million + | 15 | 16 | 15 |
| $10 million + | 34 | 32 | 30 |
| $5 million + | 66 | 65 | 66 |
| $1 million + | 198 | 192 | 195 |
Key Employee Metrics
| Q1CY26 | Q4CY25 | Q1CY25 | |
|---|---|---|---|
| # of IT business professionals | 22,617 | 22,493 | 20,577 |
| # of BPS business professionals | 11,181 | 11,351 | 10,987 |
| Total Headcount | 33,798 | 33,844 | 31,564 |
| Voluntary Attrition rate for IT service line(3) | 11.1% | 11.0% | 11.2% |
| Utilization rate for IT(4) | 82.6% | 80.8% | 82.1% |
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.
© 2026 Hexaware Technologies
HEXAWARE
Other Key Metrics
Days Sales Outstanding (DSO)
| # of Days^ | Q1CY26 | Q4CY25 | Q1CY25 |
|---|---|---|---|
| DSO - Billed | 44 | 38 | 39 |
| DSO - Unbilled | 31 | 29 | 36 |
USD / INR Exchange Rate
| Q1CY26 | Q4CY25 | Q1CY25 | |
|---|---|---|---|
| Period Closing Rate | 94.84 | 89.88 | 85.48 |
| Period Average Rate | 92.60 | 89.37 | 86.52 |
^DSO is computed based on trailing 3 months of USD revenue
© 2026 Hexaware Technologies
HEXAWARE
Summary of Consolidated Profit and Loss in USD million
| Change | |||||
|---|---|---|---|---|---|
| Q1CY26 | Q4CY25 | Q1CY25 | QoQ (%) | YoY (%) | |
| Revenue | 388.5 | 389.0 | 371.5 | (0.1%) | 4.6% |
| Revenue – Constant Currency | (0.3%) | 3.2% | |||
| (-) Employee Benefits Expense | 231.8 | 228.3 | 215.7 | 1.5% | 7.5% |
| (-) Other Expenses | 96.6 | 118.6 | 94.2 | (18.5%) | 2.5% |
| (-) D&A | 9.7 | 13.8 | 8.5 | (29.7%) | 14.1% |
| Reported EBIT | 50.4 | 28.3 | 53.1 | 78.0% | (5.1%) |
| Reported EBIT Margin (%) | 13.0% | 7.3% | 14.3% | 570 bps | -133 bps |
| (+) Other Income | (0.6) | (1.1) | 0.5 | (45.5%) | (220.0%) |
| (+) Change in FV of Contingent Consideration | 2.8 | 24.9 | - | (88.8%) | - |
| (-) Finance Costs | 3.1 | 3.4 | 2.6 | (8.8%) | 19.2% |
| Profit before Exceptional item and Tax | 49.5 | 48.7 | 51.0 | 1.6% | (3.0%) |
| Impact of new Labour Codes | - | 12.4 | - | - | - |
| Profit before Tax | 49.5 | 36.3 | 51.0 | 36.3% | (3.0%) |
| Total Tax Expense | 12.6 | 3.8 | 12.7 | 231.6% | (0.8%) |
| Reported Profit | 36.9 | 32.5 | 38.3 | 13.5% | (3.7%) |
| Reported Profit Margin (%) | 9.5% | 8.4% | 10.3% | 114 bps | -82 bps |
| Reported EBITDA* | 62.3 | 65.9 | 62.1 | (5.5%) | 0.3% |
| Reported EBITDA Margin (%) | 16.0% | 17.0% | 16.7% | -91 bps | -68 bps |
- Reported EBITDA includes Other income and change in fair value of Contingent Consideration
© 2026 Hexaware Technologies
HEXAWARE
Summary of Consolidated Profit and Loss in INR million
| Change | |||||
|---|---|---|---|---|---|
| Q1CY26 | Q4CY25 | Q1CY25 | QoQ (%) | YoY (%) | |
| Revenue | 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 Contingent Consideration | 264 | 2,233 | - | (88.2%) | - |
| (-) Finance Costs | 290 | 312 | 224 | (7.1%) | 29.5% |
| Profit before Exceptional item 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% |
| Reported EBITDA* | 5,925 | 5,915 | 5,322 | 0.2% | 11.3% |
| Reported EBITDA Margin (%) | 16.4% | 17.0% | 16.6% | -61 bps | -19 bps |
- Reported EBITDA includes Other income and Change in fair value of Contingent Consideration
© 2026 Hexaware Technologies
HEXAWARE
Summary of Consolidated Balance Sheet in INR million
| As of period ending | ||
|---|---|---|
| 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 and 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 MF 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 |
© 2026 Hexaware Technologies
HEXAWARE
Summary of Consolidated Cash Flow in INR million
| 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 towards acquisition of business | (215) | - |
| Net cash used in investing activities | (108) | (161) |
| Proceeds from issue of shares | 51 | - |
| Borrowings and lease payments | (591) | (463) |
| Net cash used in financing activities | (540) | (463) |
| Net cash outflow | (724) | (731) |
© 2026 Hexaware Technologies
HEXAWARE
Reconciliation of Adj. EBITDA (Based on INR P&L)
| Q1FY26 | Q4CY25 | Q1FY25 | |
|---|---|---|---|
| Reported EBITDA Margin | 16.4% | 17.0% | 16.6% |
| Add: ESOP compensation cost | 0.4% | 0.3% | 0.4% |
| Add: ERP transformation cost^{(1)} | 0.3% | 0.3% | 0.6% |
| Add: Acquisition related costs^{(2)} | - | 0.1% | - |
| Add: Provisions for customers and onerous vendor contracts | - | 1.1% | - |
| Add: Impairment of intangibles acquired in an earlier acquisition | - | 3.7% | - |
| Less: Write back of earnout payment of an earlier acquisition | (0.7%) | (6.4%) | - |
| Less: Other income (excluding exchange rate difference (net)) | (0.6%) | (0.5%) | (0.6%) |
| Adjusted EBITDA Margin | 15.8% | 15.6% | 17.0% |
Note: (1) ERP transformation cost consists of professional fees, travel costs, license costs, and the cost of employees working on the implementation of new ERP software (2) Acquisition-related costs consist of professional fees incurred in relation to M&A activities
© 2026 Hexaware Technologies
About Hexaware Technologies
HEXAWARE
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 33,798 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/
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:
8th Floor, 13th Level, Q1, Loma Co- Developers1 Private Limited,
Plot no. Gen-4/1, TTC Industrial Area,
Ghansoli, Navi Mumbai- 400 710,
Maharashtra, India
CIN: L72900MH1992PLC069662
https://hexaware.com/
© 2026 Hexaware Technologies