HEXT - Hexaware Tech.
📢 Recent Corporate Announcements
Hexaware Technologies has declared its first interim dividend of ₹8.50 per equity share for the financial year 2026, representing an 850% payout on the face value of ₹1. The company has fixed May 05, 2026, as the record date to determine eligible shareholders for this payout. The dividend is scheduled to be paid to shareholders by May 15, 2026. Additionally, the company announced a minor change in its Stakeholders Relationship Committee with the appointment of Mr. Neeraj Bharadwaj.
- Declared 1st Interim Dividend of ₹8.50 per equity share (850% of face value)
- Record date for dividend eligibility is fixed as May 05, 2026
- Dividend payment date is scheduled for May 15, 2026
- Appointment of Mr. Neeraj Bharadwaj to the Stakeholders Relationship Committee
- Announcement follows a board circular resolution passed on April 27, 2026
Mr. Shawn Devilla has resigned from his position as a Non-Executive Non-Independent Director of Hexaware Technologies Limited, effective April 22, 2026. The resignation is due to his transition from The Carlyle Group to a new professional role, which limits his capacity to fulfill board duties. As a result, he also vacates his positions on the Stakeholders Relationship and Risk Management Committees. This change appears to be a routine administrative movement related to private equity representation on the board.
- Mr. Shawn Devilla (DIN: 09699900) resigned as Non-Executive Non-Independent Director effective April 22, 2026.
- The resignation follows his departure from The Carlyle Group for a new professional commitment.
- He has simultaneously stepped down from the Stakeholders Relationship and Risk Management Committees.
- The company has filed the disclosure under Regulation 30 of SEBI LODR Regulations, 2015.
Hexaware Technologies has announced that its Board of Directors will consider the declaration of the first interim dividend for the financial year 2026. The decision is scheduled to be made via a circular resolution on April 27, 2026. This early-year dividend proposal suggests a proactive approach to shareholder returns and reflects the company's current cash flow position. Investors should await the specific quantum and record date details following the board's approval.
- Board to consider the 1st interim dividend for the financial year 2026.
- The decision will be finalized via circular resolution on April 27, 2026.
- Intimation provided under Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- The company is listed on both NSE (HEXT) and BSE (544362).
Hexaware Technologies Limited has announced its earnings video conference call for the first quarter of calendar year 2026, scheduled for May 07, 2026, at 8:00 AM IST. The call will follow the official declaration of financial results for the quarter ended March 31, 2026. The session will include a live Q&A opportunity for analysts and investors, with a recording and transcript to be published on the company's website shortly after. This is a standard regulatory disclosure to ensure transparency regarding the company's performance review timeline.
- Earnings call for Q1 CY 2026 scheduled for May 07, 2026, at 8:00 AM IST
- Covers financial performance for the quarter ended March 31, 2026
- Live Q&A session will be available via video webcast for registered participants
- International dial-in numbers provided for India, Singapore, Hong Kong, UAE, UK, and USA
Hexaware Technologies has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by KFin Technologies Limited, confirms adherence to regulatory standards for the quarter ended March 31, 2026. The Registrar and Share Transfer Agent (RTA) reported that there were zero requests for dematerialization or rematerialization of shares during this period. This is a standard administrative filing required for all listed entities in India.
- Compliance certificate submitted for the quarter ended March 31, 2026
- Issued by KFin Technologies Limited, the company's Registrar and Share Transfer Agent
- Confirmed zero requests for dematerialization or rematerialization during the quarter
- Ensures adherence to SEBI (Depositories and Participants) Regulations, 2018
Hexaware Technologies has announced the return of the Hexaware Dream Runners Half Marathon, scheduled for July 19, 2026. This marks the company's seventh consecutive year as the title sponsor, reinforcing its brand presence and CSR commitment in Chennai. The previous edition of the event successfully engaged nearly 7,000 participants and raised over INR 45,00,000 for social welfare initiatives. While positive for brand image, this event is a routine marketing and community engagement activity with no direct impact on financial earnings.
- Hexaware continues as title sponsor for the 7th consecutive year for the Chennai Half Marathon.
- The 2026 event is scheduled for July 19 and includes 21.1K and 10K race categories.
- Last year's event raised over INR 45,00,000 for NGOs including FREEDOM Trust and PCVC.
- Previous participation reached nearly 7,000 runners, highlighting significant community engagement.
Hexaware Technologies has scheduled its 33rd Annual General Meeting for May 05, 2026, following the release of its CY2025 Annual Report. The company reported a steady revenue growth of 12.2% YoY, reaching INR 134,304 million with an adjusted EBITDA of INR 22,949 million. The financial year ended December 31, 2025, saw a basic EPS of INR 22.51 and a strong cash position of INR 21,324 million. The company is pivoting heavily toward an AI-led operating model, emphasizing its proprietary platforms like Agentverse and Amaze.
- Annual revenue reached INR 134,304 million, representing a 12.2% growth for the year ended Dec 31, 2025
- Adjusted EBITDA stood at INR 22,949 million with a Profit Before Tax (PBT) of INR 17,268 million
- Strong liquidity position maintained with cash and equivalents totaling INR 21,324 million
- Significant geographic concentration in the Americas, which accounts for 75.3% of total revenue
- Total global workforce reached 33,844 employees with 34.3% women representation
Hexaware Technologies has scheduled its 33rd Annual General Meeting for May 05, 2026. Independent Director Mr. Milind Sarwate will retire on April 24, 2026, after completing his second consecutive term. Following this, the company has reconstituted five key board committees including Audit, Nomination & Remuneration, and ESG. Mr. Alok Chandra Misra and Ms. Sukanya Kripalu will take over leadership roles in these committees effective April 25, 2026.
- 33rd Annual General Meeting (AGM) scheduled for May 05, 2026, via video conferencing.
- Independent Director Milind Sarwate to cease office on April 24, 2026, upon term completion.
- Mr. Alok Chandra Misra appointed as Chairman of Audit and ESG Committees effective April 25, 2026.
- Ms. Sukanya Kripalu appointed as Chairperson of the Nomination & Remuneration Committee.
- Reconstitution affects 5 committees: Audit, NRC, Risk Management, ESG, and Cybersecurity.
Hexaware Technologies has received a compounding order from the Reserve Bank of India (RBI) regarding a procedural delay. The issue stems from a delay in filing Form FC-TRS for equity shares acquired by HT Global Holdings B.V. in 2021 during the company's delisting process. The RBI has imposed a penalty of INR 11,64,167, which the company has stated it will comply with. Management has clarified that this penalty will not have any material impact on the company's financial or operational performance.
- RBI issued a compounding order for delays in filing Form FC-TRS related to 2021 share transfers.
- A penalty of INR 11,64,167 has been levied on the company for the administrative lapse.
- The transaction involved HT Global Holdings B.V. during the company's previous delisting phase.
- The company confirmed there is no material impact on its financial or operational activities.
- Hexaware intends to comply with the order and pay the specified amount.
Hexaware Technologies has announced the closure of its trading window for all designated persons starting April 1, 2026. This move is a mandatory compliance step under SEBI (Prohibition of Insider Trading) Regulations ahead of the financial results for the quarter ending March 31, 2026. The window will remain closed until 48 hours after the results are officially declared to the exchanges. This is a standard procedure and does not indicate any fundamental change in the company's operations.
- Trading window closure effective from April 1, 2026.
- Closure is in relation to the financial results for the quarter ended March 31, 2026.
- Restriction applies to Designated Persons and their immediate relatives.
- Window to reopen 48 hours after the announcement of financial results.
- Complies with SEBI (Prohibition of Insider Trading) Regulations, 2015.
Hexaware Technologies has launched Agentverse™, a governed enterprise AI platform featuring over 600 pre-built agents to scale agentic AI from pilot to production. The platform aims to deliver significant operational improvements, including 40-60% productivity gains and 20-50% cost reductions through automation. By integrating with core systems like CRM and ITSM, Hexaware is positioning itself to capture the growing demand for generative AI in enterprise workflows. This launch is a core component of the company's broader 'AI for IT' and 'AI for Business' strategies.
- Launched Agentverse™ platform with 600+ ready-to-deploy AI agents for enterprise-wide scaling.
- Targets 40-60% productivity gains in knowledge workflows and 20-50% cost reductions via automation.
- Expected to drive 60-80% faster response times and 20-35% improvement in customer satisfaction scores.
- Platform includes built-in governance with role-based access controls, audit trails, and policy guardrails.
- Integrates seamlessly with major enterprise systems including CRM, ITSM, and various data platforms.
Hexaware Technologies has been included in the S&P Global Sustainability Yearbook 2026, placing it in the top 10% of the IT Services industry. The company achieved a Corporate Sustainability Assessment (CSA) score of 83 out of 100 as of February 2026. Out of more than 9,200 companies assessed globally, only 848 qualified for this inclusion, reflecting Hexaware's robust ESG practices. This recognition highlights the company's focus on long-term governance and responsible business operations.
- Ranked in the top 10% of the global IT Services industry for sustainability practices.
- Achieved a high S&P Global Corporate Sustainability Assessment score of 83/100.
- Selected as one of only 848 companies globally from a pool of over 9,200 assessed entities.
- Met stringent criteria including scoring within the top 15% of the industry and 30% of the top performer.
Hexaware Technologies has expanded its collaboration with Amazon Web Services (AWS) to integrate AI into the software development lifecycle (SDLC). The company is leveraging its proprietary platforms, RapidX® and Kiro, to help enterprises move from prototypes to production-ready code faster. This initiative aims to improve developer productivity and modernize legacy applications using Amazon Bedrock for secure, private LLM options. The partnership is part of a broader Strategic Collaboration Agreement to accelerate cloud and AI-led transformation for global clients.
- Expanded collaboration with AWS to deliver AI-enabled SDLC capabilities globally.
- Utilization of RapidX® and Kiro platforms to automate requirements gathering, coding, and testing.
- Integration with Amazon Bedrock to provide enterprise-grade security and private LLM options.
- Focus on reducing time-to-market and modernizing legacy applications for enterprise clients.
Hexaware Technologies has announced a strategic refresh of its Board and Senior Management team. Mr. Alok Chandra Misra, a veteran finance professional and former Group CFO of WNS and MphasiS, joins as an Independent Director for a three-year term. Concurrently, Mr. Vivek Sharma has resigned from the Board due to other professional commitments. Additionally, the company has tasked Shantanu Baruah, President of Healthcare & Insurance, with the critical role of North America Hunting Head to accelerate regional growth.
- Appointment of Alok Chandra Misra as Independent Director for a 3-year term effective February 23, 2026.
- Alok Misra brings high-level expertise from previous roles as Group CFO at WNS and MphasiS and Operating Partner at General Atlantic.
- Shantanu Baruah, with 25+ years of industry experience, appointed as North America Hunting Head to drive new business acquisition.
- Resignation of Vivek Sharma as Independent Director effective close of business on February 23, 2026.
- Reconstitution of five major Board committees including Audit, Risk Management, and Cybersecurity.
Hexaware Technologies has appointed Alok Chandra Misra, a former Group CFO of WNS and MphasiS, as an Independent Director for a three-year term effective February 23, 2026. This appointment follows the resignation of Vivek Sharma from the board due to other professional commitments. Additionally, the company has expanded the role of Shantanu Baruah, President of Healthcare & Insurance, to include the position of North America Hunting Head. These changes are aimed at strengthening corporate governance and driving aggressive growth in the North American market.
- Appointment of Alok Chandra Misra as Independent Director for a 3-year term ending February 2029.
- Alok Misra brings significant expertise as the former Operating Partner at General Atlantic and CFO of WNS Group.
- Shantanu Baruah assigned additional responsibility as North America Hunting Head to accelerate new client acquisition.
- Resignation of Vivek Sharma as Independent Director effective close of business on February 23, 2026.
- Reconstitution of five board committees including Audit, Risk Management, and Cybersecurity to include the new director.
Financial Performance
Revenue Growth by Segment
Financial Services grew 12.2% YoY (29.7% of revenue); Healthcare and Insurance grew 9.4% YoY (22.3% of revenue); Manufacturing and Consumer grew 8.0% YoY (16.2% of revenue); Banking grew 9.9% YoY (8.7% of revenue); High Tech and Professional Services declined 10.1% YoY (15.3% of revenue); Travel and Transportation declined 2.5% YoY (7.8% of revenue).
Geographic Revenue Split
Americas contributes 75.6% (up 8.4% YoY); Europe contributes 18.9% (down 0.7% YoY); Asia Pacific contributes 5.5% (down 8.4% YoY).
Profitability Margins
Reported Profit Margin was 10.6% in Q3CY25, a decrease of 103 bps QoQ but an improvement of 106 bps YoY. EBIT Margin stood at 15.0%, flat QoQ but up 134 bps YoY.
EBITDA Margin
EBITDA Margin was 17.6% in Q3CY25, expanding 154 bps YoY and 25 bps QoQ. Absolute EBITDA reached INR 611.6 Cr, a 21.8% increase YoY.
Capital Expenditure
Capital expenditure for 9MCY25 was INR 129.6 Cr, compared to INR 88.6 Cr in 9MCY24, representing a 46.3% increase to support infrastructure and growth.
Credit Rating & Borrowing
Finance costs for Q3CY25 were INR 26.0 Cr, up 15.0% YoY. Total borrowings and lease payments for 9MCY25 amounted to INR 138.9 Cr.
Operational Drivers
Raw Materials
Human Capital/Employee Benefit Expenses represent 56.9% of total revenue; Software License Costs represent approximately 2% of revenue.
Import Sources
Primary talent sourcing is from India (Offshore) and the United States (Onshore).
Key Suppliers
Not disclosed in available documents; however, the company utilizes third-party software vendors for license-based revenue segments.
Capacity Expansion
Current headcount is 33,590 employees as of Q3CY25, with a net addition of 1,180 professionals in the quarter (750 in IT, 413 in BPS).
Raw Material Costs
Employee benefit expenses were INR 1,983.5 Cr in Q3CY25, up 9.6% YoY, driven by a ninth straight quarter of headcount additions and wage management.
Manufacturing Efficiency
IT Business Professional utilization rate was 83.8% in Q3CY25, showing consistent efficiency above the 83% threshold.
Logistics & Distribution
Not applicable; service delivery is digital and via onshore/offshore professional deployment.
Strategic Growth
Expected Growth Rate
11.1%
Growth Strategy
Growth is driven by a 'consolidation deal' strategy, having won a large deal with a Top 3 Canadian Bank. The company is expanding its High-Tech vertical under new leadership and integrating the SMC acquisition ($66M EV) to penetrate the GCC and marketing analytics space. Management expects CY26 to outperform CY25 through volume growth and increased offshore delivery.
Products & Services
Digital ITO Services, Service Now implementations, Generative AI Strategy and Consulting, Managed End-user Technology, BPS Services, and Product Engineering.
Brand Portfolio
Hexaware Technologies, SMC (Soft-Link International).
New Products/Services
Generative AI Strategy and Consulting services; Marketing Analytics via the SMC acquisition.
Market Expansion
Expansion into the Canadian banking sector and strengthening presence in the US Mid-Market for Future of Work services.
Market Share & Ranking
Recognized as a 'Leader' in ISG Provider Lens for Generative AI Strategy (Midsize) and Managed End-user Technology (Mid Market).
Strategic Alliances
Partnerships with ISG for Digital Case Studies and Gartner for IT service evaluations.
External Factors
Industry Trends
The industry is shifting toward Generative AI and GCC (Global Capability Center) models. Hexaware is positioning itself as a leader in mid-market AI strategy to capture this 5-10% growth trend.
Competitive Landscape
Competes with global IT majors and mid-tier firms; differentiates through 'fastest growing' status and specialized ISG/Gartner recognitions.
Competitive Moat
Moat is built on high switching costs in Digital ITO and specialized domain expertise in Financial Services (29.7% of revenue). Sustainability is supported by a 79.6% cash conversion rate.
Macro Economic Sensitivity
Highly sensitive to US and European enterprise IT budgets; budget cuts in Q1 impacted the High Tech vertical growth trajectory.
Consumer Behavior
Enterprise clients are shifting from discretionary spending to cost-consolidation deals and AI-driven efficiency projects.
Geopolitical Risks
Visa transfer restrictions and immigration policy changes impact the ability to deploy staff onshore in the US.
Regulatory & Governance
Industry Regulations
Compliance with SEBI (Depositories and Participants) Regulations 2018 and international data privacy standards for healthcare (H&I vertical).
Taxation Policy Impact
Effective Tax Rate (ETR) was 25.5% in Q3CY25, compared to 26.2% in Q3CY24.
Legal Contingencies
The company notes the existence of litigations in its safe harbor statement, but specific case values in INR are not disclosed in the provided text.
Risk Analysis
Key Uncertainties
Vertical-specific budget volatility (HTPS down 10.1%) and the dilutive impact of acquisition accounting on EPS.
Geographic Concentration Risk
High concentration in the Americas (75.6% of revenue), making the company vulnerable to US economic cycles.
Third Party Dependencies
Dependency on software vendors for license revenue, which impacted margins by 70 bps in the current quarter.
Technology Obsolescence Risk
Risk of traditional IT services being disrupted by AI; mitigated by 'Leader' ranking in Generative AI services.
Credit & Counterparty Risk
Receivables quality is stable with a DSO of 73 days; one client in Professional Services slid from Top 10 to 10-20 bracket, indicating potential credit/revenue risk.