Hexaware Technologies Limited HEXT NIFTY_MIDNSETECH

Technology · Information Technology Services · India

Hexaware Technologies Limited provides information technology consulting, software development, and business process services worldwide. The company operates through Travel and Transportation, Financial Services, Banking, Healthcare and Insurance, Hi-Tech Professional Services, and Manufacturing and Consumer segments. It offers AI-native contact center, application services, cybersecurity, digital workplace, enterprise automation, generative AI, sustainability services, testing, vibe coding, and zero license services. The company also offers platforms, including Amaze, a platform that automates the cloud journey to support efficient digital transformation and modernization solutions; Tensai, uses AI and machine learning to drive intelligent automation for decisions and business processes; RapidX, an agentic AI platform that redefines software engineering by acting as an AI catalyst, enhancing human expertise with advanced intelligence; and Agentverse, an enterprise AI agent platform with ready-to-use agents. In addition, it offers business process, cloud, data and AI, digital IT operation, digital and software, and enterprise platform services. It serves banking, education and institutions, financial services, hi-tech, products and platforms, insurance, life sciences and healthcare, manufacturing, professional services, retail and consumer, telecom and utilities, transportation and logistics, and travel and hospitality industries. The company was formerly known as Aptech Limited and changed its name to Hexaware Technologies Limited in January 2001. The company was founded in 1990 and is based in Navi Mumbai, India. As of November 12, 2021, Hexaware Technologies Limited operates as a subsidiary of CA Magnum Holdings.

Market & Price

Market Cap

₹30,960.42 Cr

Current Price

₹508.00

High / Low (52W)

₹867.43 / ₹399.45

Beta

Valuation

Stock P/E

22.52

Industry PE

25.13

Forward P/E

18.71

PEG Ratio

Book Value

₹111.30

Price to Book

4.56

P/S

2.24

EV/EBITDA

13.09

Dividend Yield

2.81%

Profitability & Returns

ROCE

24.03%

ROE

22.27%

ROA

11.22%

Profit Margin

10.07%

Op Margin

13.29%

EPS (Latest Qtr)

₹5.71

EPS (TTM)

₹22.56

Balance Sheet & Liquidity

Debt/Equity

0.11

Quick Ratio

1.49

Current Ratio

1.63

Debt

₹713.20 Cr

Total Assets

₹10,904.60 Cr

Current Assets

₹5,047.70 Cr

Working Capital

₹1,537.40 Cr

Ownership

Promoter Holding

75.22%

Chg in Prom Hold

FII / Inst Holding

20.19%

Chg in FII Hold

Financial Snapshot

Enterprise Value

₹29,576.22 Cr

Total Revenue (TTM)

₹13,835.50 Cr

EBITDA

₹2,259.53 Cr

Free Cash Flow

₹2,017.39 Cr

Operating Cash Flow

₹1,742.20 Cr

Shares Outstanding

₹60.95 Cr

Gross Margin

41.11%

Payout Ratio

50.93%

Growth (CAGR)

Revenue 5Y

13.44%

Profit 5Y

15.69%

Revenue (YoY)

12.60%

Earnings (YoY)

7.90%

PROS

Strong return on equity of 22.3%.
Healthy ROCE of 24.0%.
Compounding revenue at 13.4% over 5 years.
Profit CAGR of 15.7% over 5 years.
Attractive dividend yield of 2.81%.
Generates positive free cash flow.

CONS

Trading 41.4% below its 52-week high.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Technology).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	HEXT Hexaware Technologies Limited NIFTY_MIDNSETECH	508.00	22.52	₹30,960.42 Cr	2.81%	24.03%	22.27%	13.44%	15.69%
2	TCS Tata Consultancy Services Limited NIFTY50NSEAITECH	2,258.90	16.61	₹8.17 L Cr	5.49%	54.93%	48.40%	5.80%	5.30%
3	INFY Infosys Limited NIFTY50NSEAITECH	1,160.90	15.01	₹4.70 L Cr	4.31%	41.66%	31.44%	3.44%	3.58%
4	HCLTECH HCL Technologies Limited NIFTY50NSEAITECH	1,183.80	19.31	₹3.20 L Cr	8.11%	27.21%	23.36%	8.65%	3.87%
5	WIPRO Wipro Limited NIFTY50NSEAITECH	204.25	16.26	₹2.14 L Cr	8.32%	18.42%	15.49%	4.05%	2.44%
6	TECHM Tech Mahindra Limited NIFTY50NSEAITECH	1,483.90	27.40	₹1.31 L Cr	3.44%	20.60%	16.61%	2.16%	-0.14%
7	LTM LTM Limited NSETECH	4,061.60	24.04	₹1.20 L Cr	1.85%	25.39%	21.29%	8.43%	4.41%
8	LGEINDIA LG ELECTRONICS INDIA LTD NIFTY_MIDNSETECH	1,523.90	61.35	₹1.03 L Cr	-	27.64%	24.72%	0.98%	-
9	WAAREEENER WAAREE ENERGIES LIMITED NIFTY_MIDNSETECH	3,140.80	27.70	₹90,345.53 Cr	0.13%	24.21%	31.57%	71.63%	191.18%

Quarterly Results

Figures in INR.

Metric	Dec 2024	Mar 2025	Jun 2025	Dec 2025	Mar 2026
Revenue	-	3,207.90 Cr	3,260.70 Cr	3,478.20 Cr	3,613.00 Cr
Cost of Revenue	1,796.00 Cr	1,839.90 Cr	1,850.60 Cr	2,021.40 Cr	2,127.30 Cr
Gross Profit	1,358.40 Cr	1,368.00 Cr	1,410.10 Cr	1,456.80 Cr	1,485.70 Cr
Operating Expenses	87.40 Cr	85.10 Cr	167.10 Cr	135.10 Cr	103.90 Cr
Operating Income	1,271.00 Cr	1,282.90 Cr	1,243.00 Cr	1,321.70 Cr	1,381.80 Cr
EBITDA	514.00 Cr	532.20 Cr	564.40 Cr	480.40 Cr	592.50 Cr
Interest Expense	20.70 Cr	22.40 Cr	20.90 Cr	31.20 Cr	29.00 Cr
Pretax Income	-	436.30 Cr	468.30 Cr	325.50 Cr	472.80 Cr
Tax Provision	-	109.20 Cr	88.60 Cr	33.90 Cr	121.20 Cr
Net Income	-	327.20 Cr	379.90 Cr	291.90 Cr	351.60 Cr
Diluted EPS	5.23	5.29	6.15	4.72	5.71

Profit & Loss (Annual)

Figures in INR.

Metric	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	9,199.60 Cr	10,380.30 Cr	11,974.40 Cr	13,430.40 Cr
Cost of Revenue	-	6,617.90 Cr	7,300.80 Cr	8,254.10 Cr	9,172.10 Cr
Gross Profit	-	2,581.70 Cr	3,079.50 Cr	3,720.30 Cr	4,258.30 Cr
Operating Expenses	-	1,600.40 Cr	1,746.80 Cr	1,998.60 Cr	2,417.60 Cr
Operating Income	-	981.30 Cr	1,332.70 Cr	1,721.70 Cr	1,840.70 Cr
EBITDA	-	1,395.70 Cr	1,578.80 Cr	1,876.50 Cr	2,138.10 Cr
Interest Expense	-	28.30 Cr	26.70 Cr	37.40 Cr	50.00 Cr
Pretax Income	-	1,123.00 Cr	1,268.50 Cr	1,560.30 Cr	1,726.80 Cr
Tax Provision	-	238.80 Cr	270.90 Cr	386.30 Cr	358.50 Cr
Net Income	-	884.20 Cr	997.60 Cr	1,176.40 Cr	1,369.20 Cr
Diluted EPS	-	29.06	16.41	19.29	22.16

Compounded Sales Growth

5 Years:	13.44%
1 Year:	12.60%

Compounded Profit Growth

5 Years:	15.69%
1 Year:	7.90%

Stock Price Performance

1 Year:	-35.69%
6 Months:	-27.68%
3 Months:	+2.75%
1 Month:	+14.06%

Balance Sheet (Annual)

Figures in INR.

Metric	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	6,511.60 Cr	7,202.10 Cr	8,994.50 Cr	10,904.60 Cr
Current Assets	-	3,479.60 Cr	4,201.70 Cr	4,551.10 Cr	5,047.70 Cr
Cash & Equivalents	-	1,291.60 Cr	1,773.40 Cr	1,976.60 Cr	1,970.80 Cr
Inventory	-	-	-	-	-
Receivables	-	1,384.60 Cr	1,386.30 Cr	1,291.40 Cr	1,455.60 Cr
Total Liabilities	-	2,388.60 Cr	2,566.90 Cr	3,639.90 Cr	4,592.20 Cr
Current Liabilities	-	1,952.30 Cr	2,155.80 Cr	2,872.10 Cr	3,510.30 Cr
Long Term Debt	0	-	-	-	-
Total Debt	-	456.50 Cr	393.60 Cr	574.20 Cr	680.70 Cr
Total Equity	-	4,123.00 Cr	4,635.20 Cr	5,356.90 Cr	6,315.60 Cr
Shares Outstanding	-	-	-	60.77 Cr	61.10 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	-	820.60 Cr	1,515.60 Cr	1,548.00 Cr	1,739.10 Cr
Investing Cash Flow	-	-15.10 Cr	-299.60 Cr	-669.00 Cr	-996.20 Cr
Financing Cash Flow	-	-721.10 Cr	-750.10 Cr	-681.90 Cr	-830.80 Cr
Capital Expenditure	-	-119.20 Cr	-64.30 Cr	-133.30 Cr	-167.50 Cr
Free Cash Flow	-	701.40 Cr	1,451.30 Cr	1,414.70 Cr	1,571.60 Cr
Net Change in Cash	-	84.40 Cr	465.90 Cr	197.10 Cr	-87.90 Cr

Ratios (Annual)

Figures in %.

Metric	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	28.1%	29.7%	31.1%	31.7%
Operating Margin %	-	10.7%	12.8%	14.4%	13.7%
Net Margin %	-	9.6%	9.6%	9.8%	10.2%
ROE %	-	21.4%	21.5%	22.0%	21.7%
ROCE %	-	21.5%	26.4%	28.1%	24.9%

Shareholding Pattern

Insiders

75.22%

Institutions

20.19%

Public Float

81.49%

Analyst View

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