Hexaware Technologies Limited (IN:HEXT)
:HEXT
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Hexaware Technologies Limited
(HEXT)
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Rating:72Outperform
Price Target:
₹610.00
▼(-14.80% Downside)
Action:Upgraded
Date:06/03/26
The score is driven primarily by strong financial performance (steady growth, solid profitability, and low-to-moderate leverage), tempered by technical overbought signals and a valuation that is not inexpensive despite a moderate dividend yield.
Positive Factors
Revenue growth & stable profitability
Multi-year revenue growth plus consistent ~10% net margins indicate durable demand for core services and pricing power across client accounts. Re-acceleration in 2025 and historically strong ROE support sustainable earnings, enabling reinvestment in service capabilities and long-term client retention.
Negative Factors
Margin volatility / 2025 compression
A sharp gross margin drop in 2025 raises structural questions about cost control, mix shifts, or pricing pressure. If persistent, margin erosion could reduce operating cash flow, limit reinvestment capacity and compress sustainable profitability, making earnings and returns more cyclical.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth & stable profitability
Multi-year revenue growth plus consistent ~10% net margins indicate durable demand for core services and pricing power across client accounts. Re-acceleration in 2025 and historically strong ROE support sustainable earnings, enabling reinvestment in service capabilities and long-term client retention.
Read all positive factors
Hexaware Technologies Limited (HEXT) vs. iShares MSCI India ETF (INDA)
Market Cap
₹301.11B
Dividend Yield1.56%
Average Volume (3M)51.99K
Price to Earnings (P/E)21.6
Beta (1Y)1.36
Revenue GrowthN/A
EPS GrowthN/A
CountryIN
Employees31,564
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)16.81
Shares Outstanding611,016,000
10 Day Avg. Volume84,875
30 Day Avg. Volume51,989
Financial Highlights & Ratios
PEG Ratio2.10
Price to Book (P/B)7.37
Price to Sales (P/S)3.47
P/FCF Ratio29.24
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹480.00Price Target Upside-32.96% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)25.12
Revenue Forecast (FY)₹152.23B
Hexaware Technologies Limited Business Overview & Revenue Model
Company Description
Hexaware Technologies Ltd. operates globally, delivering information technology (IT) advisory services, software development, and business process optimization. The company organizes its operations across key industry segments, including travel an...
How the Company Makes Money
Hexaware primarily makes money by delivering contracted IT services to business customers, generating revenue from service fees billed under commercial models such as time-and-materials (billing for hours/effort and agreed rates), fixed-price proj...
Hexaware Technologies Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
84
Very Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 103.52B | 134.30B | 119.74B | 103.80B | 92.00B | 71.78B |
| Gross Profit | 13.37B | 27.26B | 55.50B | 46.55B | 40.94B | 33.69B |
| EBITDA | 15.31B | 21.04B | 18.77B | 15.79B | 13.96B | 11.98B |
| Net Income | 10.23B | 13.69B | 11.76B | 9.98B | 8.84B | 7.49B |
Balance Sheet | ||||||
| Total Assets | 117.14B | 109.05B | 89.94B | 72.02B | 65.12B | 56.73B |
| Cash, Cash Equivalents and Short-Term Investments | 20.89B | 21.27B | 19.77B | 20.24B | 12.92B | 13.12B |
| Total Debt | 7.13B | 6.81B | 5.74B | 3.94B | 4.57B | 3.74B |
| Total Liabilities | 49.35B | 45.92B | 36.40B | 25.67B | 23.89B | 18.86B |
| Stockholders Equity | 67.82B | 63.16B | 53.57B | 46.35B | 41.23B | 37.88B |
Cash Flow | ||||||
| Free Cash Flow | 11.52B | 15.92B | 14.15B | 14.51B | 7.01B | 8.71B |
| Operating Cash Flow | 12.74B | 17.60B | 15.48B | 15.16B | 8.21B | 9.80B |
| Investing Cash Flow | -2.46B | -10.41B | -6.69B | -3.00B | -151.00M | -2.25B |
| Financing Cash Flow | -8.26B | -8.06B | -6.82B | -7.50B | -7.21B | -6.02B |
Hexaware Technologies Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹637.43B | 32.02 | ― | 0.88% | 33.81% | 89.36% | |
72 Outperform | ₹301.11B | 21.56 | ― | 1.56% | ― | ― | |
69 Neutral | ₹362.10B | 28.23 | ― | 1.19% | 8.97% | 0.85% | |
68 Neutral | ₹204.50B | 31.86 | ― | 0.69% | 10.49% | -24.27% | |
66 Neutral | ₹305.98B | 55.97 | ― | 1.26% | 6.52% | -19.28% | |
63 Neutral | ₹446.47B | 23.92 | ― | 1.94% | 11.59% | 8.85% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
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Hexaware Technologies Limited
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Hexaware Technologies Limited Corporate Events
Hexaware reshapes global leadership as senior executive exits
May 31, 2026
Hexaware Technologies has reshaped its regional leadership structure with the promotion of long-time executive Parameshwaran Iyer to Executive Vice President and Head of the UK and Europe. Iyer, a 22-year veteran of the firm with extensive experie...
Hexaware Completes Acquisition of Consulting Professionals Services Group
May 28, 2026
Hexaware Technologies has completed the acquisition of Consulting Professionals Services Holdings Ltd and its wholly owned subsidiary, Consulting Professionals Services Ltd, through its UK-based subsidiary on May 28, 2026. The transaction strength...
Hexaware Says European Client Insolvency Won’t Add Financial Hit
May 9, 2026
Hexaware Technologies has provided an update on ongoing legal proceedings against a European client, noting that the client has entered insolvency proceedings in Germany and obtained recognition of those proceedings in the U.S., which affects rela...
Hexaware to Engage Investors at DAM Capital IT Conference on May 13
May 9, 2026
Hexaware Technologies has announced its participation in the DAM Capital IT Investor Conference scheduled to be held in Mumbai on May 13, 2026. The company said the event will feature a mix of group meetings and one-on-one interactions with invest...
Hexaware Director Shawn Devilla Resigns, Triggers Board Committee Changes
Apr 23, 2026
Hexaware Technologies has announced that Non-Executive Non-Independent Director Shawn Devilla has resigned from the board, effective after business hours on April 22, 2026, citing professional commitments. His departure also results in his exit fr...
Hexaware Sets May 5 Virtual AGM, Publishes E-Voting Details
Apr 11, 2026
Hexaware Technologies has announced that it has dispatched the notice for its 33rd Annual General Meeting for the financial year ended December 31, 2025, to be held on May 5, 2026, at 4:00 p.m. via video conferencing and other audio-visual means. ...
Hexaware Sets May 5 Virtual AGM, Publishes 2025 Annual and Sustainability Reports
Apr 10, 2026
Hexaware Technologies has scheduled its 33rd Annual General Meeting for May 5, 2026, to be held virtually via video conferencing and other audio-visual means in line with Ministry of Corporate Affairs guidelines. The company has released its Annua...
Hexaware Sets AGM Date and Revamps Board Committee Leadership
Apr 2, 2026
Hexaware Technologies’ board has approved convening its 33rd Annual General Meeting on May 5, 2026, which will be held via video conferencing and other audio-visual means, reflecting continued use of virtual formats for shareholder engagemen...
Hexaware sets May virtual AGM, reshapes board committees after director change
Apr 2, 2026
Hexaware Technologies has scheduled its 33rd Annual General Meeting for May 5, 2026, which will be held via video conferencing and other audio-visual means, reflecting the company’s continued use of virtual formats for shareholder engagement...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.