Hexaware Technologies Limited (IN:HEXT)
:HEXT
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Hexaware Technologies Limited
(HEXT)
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Rating:60Neutral
Price Target:
₹487.00
▼(-31.98% Downside)
Action:ReiteratedDate:03/13/26
Overall score is driven by strong underlying financial performance (steady growth, solid profitability, and low leverage), tempered by very weak technicals showing a pronounced downtrend and negative momentum. Valuation also constrains the score due to a high P/E, despite a moderate dividend yield.
Positive Factors
Steady Revenue Growth & Profitability
Multi-year top-line growth with a 2025 re-acceleration and steady ~10% net margins indicate durable demand for Hexaware's services and disciplined pricing and cost controls. This underpins sustainable earnings, supports reinvestment in capabilities, and reduces sensitivity to single large contracts.
Negative Factors
Uneven Cash Conversion & FCF Volatility
Irregular cash conversion and episodic FCF declines reduce the predictability of internal funding for transformation projects and weaken resilience to capital demands. Over months this can force greater reliance on external financing or deferred investment, constraining strategic execution and margin improvements.
Read all positive and negative factors
Positive Factors
Negative Factors
Steady Revenue Growth & Profitability
Multi-year top-line growth with a 2025 re-acceleration and steady ~10% net margins indicate durable demand for Hexaware's services and disciplined pricing and cost controls. This underpins sustainable earnings, supports reinvestment in capabilities, and reduces sensitivity to single large contracts.
Read all positive factors
Hexaware Technologies Limited (HEXT) vs. iShares MSCI India ETF (INDA)
Market Cap
₹275.78B
Dividend Yield1.56%
Average Volume (3M)51.99K
Price to Earnings (P/E)34.0
Beta (1Y)1.47
Revenue GrowthN/A
EPS GrowthN/A
CountryIN
Employees31,564
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)4.79
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
₹515.00Price Target Upside-28.07% Downside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)24.22
Revenue Forecast (FY)₹147.23B
Hexaware Technologies Limited Business Overview & Revenue Model
Company Description
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,...
How the Company Makes Money
Hexaware makes money primarily by selling IT and business services to enterprise customers under commercial contracts that are typically structured as (a) time-and-materials (billing for the effort of consultants/engineers by hour/day), (b) fixed-...
Hexaware Technologies Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
84
Very Positive
Cash Flow
74
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 134.30B | 119.74B | 103.80B | 92.00B | 71.78B |
| Gross Profit | 27.26B | 55.50B | 46.55B | 40.94B | 33.69B |
| EBITDA | 21.04B | 18.77B | 15.79B | 13.96B | 11.98B |
| Net Income | 13.69B | 11.76B | 9.98B | 8.84B | 7.49B |
Balance Sheet | |||||
| Total Assets | 109.05B | 89.94B | 72.02B | 65.12B | 56.73B |
| Cash, Cash Equivalents and Short-Term Investments | 21.27B | 19.77B | 20.24B | 12.92B | 13.12B |
| Total Debt | 6.81B | 5.74B | 3.94B | 4.57B | 3.74B |
| Total Liabilities | 45.92B | 36.40B | 25.67B | 23.89B | 18.86B |
| Stockholders Equity | 63.16B | 53.57B | 46.35B | 41.23B | 37.88B |
Cash Flow | |||||
| Free Cash Flow | 15.92B | 14.15B | 14.51B | 7.01B | 8.71B |
| Operating Cash Flow | 17.60B | 15.48B | 15.16B | 8.21B | 9.80B |
| Investing Cash Flow | -10.41B | -6.69B | -3.00B | -151.00M | -2.25B |
| Financing Cash Flow | -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 | ₹432.33B | 30.05 | ― | 1.94% | 10.16% | 8.52% | |
70 Outperform | ₹240.56B | 982.29 | ― | 1.26% | 0.68% | -17.67% | |
69 Neutral | ₹380.58B | 25.86 | ― | 1.19% | 8.97% | 0.86% | |
66 Neutral | ₹201.43B | 59.84 | ― | 0.69% | 11.37% | -5.49% | |
63 Neutral | ₹403.93B | 55.81 | ― | 0.88% | 37.10% | 50.35% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | ₹275.78B | 34.01 | ― | 1.56% | ― | ― |
* Technology Sector Average
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Hexaware Technologies Limited Corporate Events
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...
Hexaware revamps board, expands senior role to drive North America growth
Feb 23, 2026
Hexaware Technologies has reshaped its board and senior management structure, appointing Alok Chandra Misra as an additional non-executive independent director for a three-year term, subject to shareholder approval. Misra will also join key board ...
Hexaware Reshapes Board, Committees and Expands North America Leadership
Feb 23, 2026
Hexaware Technologies has reshaped its board and senior management structure, appointing Alok Chandra Misra as an Additional Director in the capacity of Non-Executive Independent Director for a three-year term, subject to shareholder approval. Mis...
Hexaware reshapes board and expands North America leadership mandate
Feb 23, 2026
Hexaware Technologies has reshaped its boardroom and leadership structure, appointing Alok Chandra Misra as an additional non-executive independent director for a three-year term, subject to shareholder approval. His induction comes with membershi...
Hexaware to Join Kotak’s Chasing Growth 2026 Investor Conference in Mumbai
Feb 23, 2026
Hexaware Technologies has notified the stock exchanges that it will participate in the Kotak Chasing Growth 2026 investor conference in Mumbai from February 23 to 26, 2026. The engagement, held as an in-person group meeting, underscores the compan...
Hexaware Publishes Q4 and Full-Year 2025 Investor Presentation Ahead of Analyst Call
Feb 4, 2026
Hexaware Technologies has released an investor presentation and fact sheet covering its financial results and operational performance for the quarter and year ended December 31, 2025. The materials, which will be discussed during an investor and a...
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.