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Hexaware Technologies Results: Latest Quarterly Results & Analysis

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Hexaware Technologies Ltd. 07 May 2026 12:23 PM
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Q1CY26 & CY25 Result Announced for Hexaware Technologies Ltd.

IT Consulting & Software company Hexaware Technologies announced Q1CY26 & CY25 results

Consolidated Financial Highlights:

  • Consolidated Revenue from operations for Q1CY26 was Rs 36,130 million, representing a growth of 3.88% QoQ from Rs 34,782 million and 12.63% YoY from Rs 32,079 million.
  • Consolidated Total Income for the quarter ended March 31, 2026, stood at Rs 36,347 million, compared to Rs 36,918 million in the previous quarter (a decline of 1.55%) and Rs 32,123 million in the same quarter last year (an increase of 13.15%).
  • Consolidated Net Profit for the quarter was Rs 3,516 million, showing an increase of 20.58% QoQ from Rs 2,916 million and a growth of 7.49% YoY from Rs 3,271 million.
  • The Basic Earnings Per Share (EPS) for the quarter was Rs 5.77, reflecting a QoQ increase of 20.46% from Rs 4.79 and a YoY growth of 7.25% compared to Rs 5.38.
  • For the full year ended December 31, 2025, the Consolidated Revenue from operations was Rs 1,34,304 million and the Consolidated Net Profit was Rs 13,683 million.

Standalone Financial Highlights:

  • Standalone Revenue from operations for Q1CY26 stood at Rs 19,722 million, showing a QoQ growth of 6.05% from Rs 18,596 million and a YoY increase of 11.80% from Rs 17,641 million.
  • Standalone Total Income for the quarter was Rs 19,624 million, an increase of 5.92% QoQ from Rs 18,528 million and 11.10% YoY compared to Rs 17,663 million.
  • Standalone Net Profit for the quarter was Rs 2,138 million, representing a substantial QoQ growth of 113.16% from Rs 1,003 million, though it declined by 10.62% YoY from Rs 2,392 million.
  • For the full year ended December 31, 2025, the Standalone Revenue from operations reached Rs 73,888 million and the Standalone Net Profit was Rs 7,796 million.

Business Highlights

  • Segment Performance:
    • Financial Services (FS): Recorded revenue of Rs 10,682 million.
    • Healthcare & Insurance (H&I): Recorded revenue of Rs 8,189 million.
    • Manufacturing and Consumer (M&C): Recorded revenue of Rs 5,810 million.
    • Professional Services (PS): Recorded revenue of Rs 4,588 million.
    • Banking: Recorded revenue of Rs 3,267 million.
    • Travel and Transportation (T&T): Recorded revenue of Rs 2,764 million.
    • Technology, Products and Platforms (TPP): Recorded revenue of Rs 830 million.
  • Vertical Performance (YoY growth in USD terms): The Banking vertical led growth at 21.1%, followed by Healthcare and Insurance at 13.5%, and Manufacturing and Consumer at 13.2%. Financial Services grew by 1.4%, while Technology, Products & Platforms declined by 23.5%, Travel and Transportation by 7.5%, and Professional Services by 6.3%.
  • Geographic Performance (YoY growth in USD terms): Europe grew by 11.6%, Asia Pacific by 9.8%, and the Americas by 2.5%.
  • Client Metrics: The company added two new customers in the USD 10 million category (on a Last Twelve Months basis), increasing the total count to 34. The top 10 customer revenue concentration stood at 35.9%.
  • People Metrics: The closing headcount was 33,798, with a net addition of 124 in IT during the quarter. The voluntary attrition rate for IT was 11.1%, and the utilization rate for IT was 82.6%.
  • Dividends: The Board of Directors declared an interim dividend of Rs 8.50 per equity share of face value Rs 1 each.
  • Operational Updates: During the quarter, the company won a digital ITO and cloud migration deal with a premier American audio equipment manufacturer and secured a consolidation deal with a global professional services firm.

R. Srikrishna, CEO, said: ” The most defensible moat in the AI world is trust in relationships with customers. Our customers trust us to be their AI transformation partner to bring the power of AI to all facets of their IT and business. This represents a significant growth opportunity, and we are well poised to accelerate growth through 2026.”

Vikash Jain, CFO, said: “Q1 continued to reflect the strength and discipline of our financial engine. We had yet another quarter of strong cash generation, with industry leading LTM OCF to PAT conversion of 125% . This healthy balance sheet and consistent cash flows enabled us to declare the first interim dividend of Rs 8.5 per share, reinforcing our commitment to disciplined capital allocation and shareholder returns.”

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IT Consulting & Software company Hexaware Technologies announced Q4CY25 results

  • Q4CY25: USD 389 million | Rs 34,782 million.
    • USD: -1.5% QoQ and 4.5% YoY | Rs: -0.2% QoQ and 10.3% YoY.
    • Constant Currency: -1.4% QoQ and 3.5% YoY.
  • Reported EBITDA: Q4CY25: 17.0% | -60 bps QoQ & 65 bps YoY in % terms | -4.8% QoQ & 8.6% YoY in absolute terms.
  • Basic EPS: Q4CY25: Rs 4.79 | -21.3% QoQ & -8.8% YoY.

R. Srikrishna, CEO, said: ” With rapidly improving capabilities of AI, our most important strategy is speed and agility. We are challenging ourselves to launch a new service enabled by AI every month and take every new service to our most important customers within 90 days from launch.

While CY25 was a challenging year for the industry, we have accelerated deal wins in the later part of the year that sets us up for a better CY26.”

Vikash Jain, CFO, said: “This year, we navigated a challenging macroeconomic environment with disciplined execution, resulting in healthy margin expansion on YoY basis. Our continued discipline on working capital management led to a very healthy cash flow conversion of 75% . This year we also closed two capability led acquisitions. We are excited about our future growth and long-term value creation”

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IT Consulting & Software company Hexaware Technologies announced Q3CY25 results

  • Revenue: Q3CY25: USD 394.8 million | Rs 34,836 million.
    • USD: 3.3% QoQ and 5.5% YoY | Rs: 6.8% QoQ and 11.1% YoY.
    • Constant Currency: 3.4% QoQ and 5.2% YoY
  • Profitability: Reported EBITDA: Q3CY25: 17.5% | 30 bps QoQ and 154 bps YoY in % terms.
    • 5.1% QoQ and 15.6% YoY in absolute terms.
    • Basic EPS: Q3CY25: Rs 6.09 | -2.6% QoQ and 22.3% YoY
  • Key People Metrics:
    • Closing Headcount: 33,590, LTM net headcount addition of 1,054.
    • Voluntary Attrition for IT: 11.4%.
    • Q3CY25 Utilization Rate for IT: 83.8%

R. Srikrishna, CEO, said: ” We delivered solid growth in a difficult macro. More importantly, we continue to invest in our future on several dimensions. We acquired specialist capability in IAM through CyberSolve, created a new vertical in Technology, Products and Platforms with a talented new leader, and launched multiple new domain offerings in AI.”

Vikash Jain, CFO, said: “I am pleased to report an EBITDA of 17.5% for the quarter, reflecting a 30 bps improvement quarter-on-quarter, driven by disciplined operational efficiencies. Our strong cash generation continues, with OCF to EBITDA conversion at 80% on an LTM basis. We also welcome the CyberSolve team to the Hexaware family as we accelerate our strategic growth journey “

Result PDF

IT Consulting & Software company Hexaware Technologies announced Q2CY25 results

  • Revenue:
    • Q2CY25: USD 382.1 million | Rs 32,607 million.
      • USD: 2.8% QoQ and 8.6% YoY | Rs: 1.6% QoQ and 11.1% YoY.
      • Constant Currency: 1.3% QoQ and 7.5% YoY.
  • Profitability:
    • Reported EBITDA:
      • Q2CY25: 17.2% | 53 bps QoQ & 156 bps YoY in % terms.
      • 6.1% QoQ & 19.4% YoY in absolute terms.
    • Basic EPS:
      • Q2CY25: Rs 6.25 | 16.2% QoQ & 37.7% YoY.

R. Srikrishna, CEO, said: “In a difficult global macro environment, we had a solid quarter of execution on revenue, profitability and booking. More importantly, we continue to invest to make a rapid pivot to lead our customers into an AI-powered future.“

Vikash Jain, CFO, said: “This quarter reflects our continued momentum, marked by healthy YoY revenue growth, solid margin execution, and outstanding cash flow conversion. Our effective tax rate remains among the best in the industry.“

Result PDF

IT Consulting & Software company Hexaware Technologies announced Q1CY25 results

  • Revenue:
    • Q1CY25: USD 371.5 million | Rs 32,079 million.
    • USD: (0.2%) QoQ and 12.4% YoY | Rs: 1.7% QoQ and 16.7% YoY.
    • Constant Currency: (0.2%) QoQ and 12.7% YoY
  • Profitability:
    • Reported EBITDA:
      • Q1CY25: 16.7% | 2.3% QoQ & 20.8% YoY in absolute terms.
      • 41 bps QoQ & 117 bps YoY in % terms.
    • Basic EPS:
      • Q1CY25: Rs 5.38 | 2.5% QoQ & 16.7% YoY
  • Key Client Metrics:
    • 3 customers >USD 75 million (1 customer in the USD 100 million category).
    • NPS Score of 67; 27 points higher than the industry median.
    • Top 5 customers revenue concentration: 25.7% in LTM Q1CY25
  • Key People Metrics:
    • Closing Headcount: 31,564, LTM net headcount addition of 1,429
    • Voluntary Attrition for IT(1): 11.2%.
    • Q1CY25 Utilization Rate for IT(2): 82.1%
  • Other Key Metrics:
    • DSO (Billed Unbilled) at 75 in Q1CY25, of which Billed is 39.
    • LTM Q1CY25 Adjusted Cash Conversion % at 61.9%.
    • Strong Cash and Cash Equivalents position as of 31st March 2025(3) Rs 19,087 million

R. Srikrishna, CEO, Hexaware Technologies, said: “We continued to execute well on the basics that power our growth - win market share through delivery excellence and invest in creating differentiated capabilities, talent, and platforms. The strength of our deals wins positions us strongly for a year of solid growth “

Vikash Jain, CFO, Hexaware Technologies, said: “We are pleased to report 12.4% YoY revenue growth, demonstrating our resilience. Despite the economic uncertainty, we have not only sustained our growth trajectory but also expanded our margins by 117 basis points YoY and 41 bps QoQ. This achievement underscores our operational excellence and our ability to continue delivering in challenging environment too.“

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