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Hexaware Technologies Limited
(HEXT)
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Rating:73Outperform
Price Target:
₹641.00
▼(-10.47% Downside)
Action:Reiterated
Date:07/31/26
The score is primarily supported by strong financial quality (low leverage, strong ROE, and stable profitability), tempered by slowing growth and softer TTM cash-flow/margin momentum. Technicals are moderately positive short-to-mid term but still below the 200-day average, while valuation looks somewhat rich on P/E despite a supportive dividend yield.
Positive Factors
Conservative Balance Sheet
Hexaware's very low debt-to-equity (~0.08–0.11) gives the company durable financial flexibility to fund investments, absorb cyclical shocks, or pursue acquisitions without stressing interest costs. This conservatism supports long-term resilience and strategic optionality over the next 2–6 months and beyond.
Negative Factors
Slowing Revenue Growth
A marked slowdown from prior multi-year expansion to near-flat 2025 and low-single-digit TTM growth reduces the company’s near-term earnings runway. Sustained weak top-line momentum can constrain margin expansion, limit scale benefits, and pressure reinvestment plans over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Hexaware's very low debt-to-equity (~0.08–0.11) gives the company durable financial flexibility to fund investments, absorb cyclical shocks, or pursue acquisitions without stressing interest costs. This conservatism supports long-term resilience and strategic optionality over the next 2–6 months and beyond.
Read all positive factors
Hexaware Technologies Limited (HEXT) vs. iShares MSCI India ETF (INDA)
Market Cap
₹342.84B
Dividend Yield2.54%
Average Volume (3M)51.99K
Price to Earnings (P/E)25.5
Beta (1Y)1.37
Revenue GrowthN/A
EPS GrowthN/A
CountryIN
Employees33,798
SectorGeneral
Sector StrengthN/A
IndustryInformation Technology Services
Share Statistics
EPS (TTM)22.06
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
₹500.00Price Target Upside-30.17% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering1
EPS Forecast (FY)23.31
Revenue Forecast (FY)₹154.05B
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
86
Very Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 144.20B | 134.30B | 119.74B | 103.80B | 92.00B | 71.78B |
| Gross Profit | 9.68B | 27.26B | 55.50B | 46.55B | 40.94B | 33.69B |
| EBITDA | 21.88B | 21.04B | 18.77B | 15.79B | 13.96B | 11.98B |
| Net Income | 13.44B | 13.69B | 11.76B | 9.98B | 8.84B | 7.49B |
Balance Sheet | ||||||
| Total Assets | 115.76B | 109.05B | 89.94B | 72.02B | 65.12B | 56.73B |
| Cash, Cash Equivalents and Short-Term Investments | 16.54B | 21.27B | 19.77B | 20.24B | 12.92B | 13.12B |
| Total Debt | 6.83B | 6.81B | 5.74B | 3.94B | 4.57B | 3.74B |
| Total Liabilities | 48.66B | 45.92B | 36.40B | 25.67B | 23.89B | 18.86B |
| Stockholders Equity | 67.12B | 63.16B | 53.57B | 46.35B | 41.23B | 37.88B |
Cash Flow | ||||||
| Free Cash Flow | 15.11B | 15.92B | 14.15B | 14.51B | 7.01B | 8.71B |
| Operating Cash Flow | 17.10B | 17.60B | 15.48B | 15.16B | 8.21B | 9.80B |
| Investing Cash Flow | -10.97B | -10.41B | -6.69B | -3.00B | -151.00M | -2.25B |
| Financing Cash Flow | -9.89B | -8.06B | -6.82B | -7.50B | -7.21B | -6.02B |
Hexaware Technologies Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹342.84B | 25.46 | ― | 1.56% | ― | ― | |
73 Outperform | ₹761.76B | 34.94 | ― | 1.06% | 34.67% | 65.25% | |
70 Neutral | ₹447.04B | 23.36 | ― | 1.94% | 13.69% | 9.34% | |
69 Neutral | ₹377.22B | 28.55 | ― | 1.70% | 5.66% | 3.90% | |
68 Neutral | ₹303.52B | 54.49 | ― | 1.17% | 15.21% | -18.75% | |
62 Neutral | ₹163.99B | 27.95 | ― | 1.41% | 9.55% | -27.98% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:HEXT
Hexaware Technologies Limited
556.20
-150.19
-21.26%
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Hexaware Technologies Limited Corporate Events
Hexaware Earns Top Rankings in Whitelane UK & Ireland 2026 IT Sourcing Study
Jul 2, 2026
Hexaware Technologies Limited, a global IT services and solutions provider with notable domain expertise in financial services and insurance, has built its business around application services, digital engineering, and AI‑led transformation ...
Hexaware to Invest £25 Million in UK, Creating 1,200 High-Tech Jobs
Jun 17, 2026
Hexaware Technologies will invest £25 million to expand its UK footprint, establishing new RD centres in Manchester and Leeds and enlarging its Birmingham delivery hub. The move underscores the UK’s importance as Hexaware’s second...
Hexaware, HBSUK launch AI-driven platform to speed clinician onboarding
Jun 3, 2026
HBSUK, a UK-based healthcare services provider, has entered into a strategic collaboration with Hexaware Technologies to modernise and digitise its clinician recruitment and onboarding processes. The new secure portal allows clinicians to upload c...
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...
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.