About

Hexaware Technologies is an IT software and consulting services company with market capitalisation of ₹34,817.84 Cr. Consolidated quarterly revenues run ₹3.5–3.8 Cr, nearly doubling core standalone business through subsidiaries and associates. The company maintains consistent dividend payments and operates under 74.3% promoter control.

Face value: ₹1

Market cap

₹29,966 Cr

P/E

22.3×

P/B

4.7×

Dividend yield

2.9%

ROE

—

ROCE

—

Debt / equity

0

OPM

14.2%

EPS (TTM)

₹22.1

Book value

₹103.7

52-week high

₹792.6

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Consolidated operating margins show high volatility (10.86% to 17.26% across recent quarters) and lag standalone by 2–3 percentage points, signalling acquisition or subsidiary drag; verify integration status
FII holdings fell from 4.2% to 3.19% in three months, suggesting foreign investor retreat; investigate institutional concerns
Stock down 21.41% over 1 year despite ~10% consolidated revenue growth, trading 31% below ₹825.35 high; market may be pricing margin compression or client concentration risks
Minimal public float (6.25%) and extreme promoter concentration (74.3%) constrain governance and market liquidity

Generated analysis · source review pending

Growth drivers

Consolidated revenue grew 10.4% over nine months (Sep 2025: ₹3,483.6 Cr to Jun 2026: ₹3,845.2 Cr), outpacing negative stock returns; verify if organic or acquisition-driven
Standalone operating margins hold 17–20% range (Jun 2026: 18.06%, Sep 2025: 20.3%), signalling stable core business and upside if consolidated performance normalises
Three dividend payments in 14 months (May 2026, Oct 2025, Apr 2025) evidence cash generation; verify payout ratio and adequacy for growth capex

Generated analysis · source review pending

₹490.5-26.1%1Y

Volatility (1y)

38.3%

Annualised, daily returns

RSI (14)

43.4

Neither overbought nor oversold

Rel. strength (1y)

-36.8%

Behind the market

Quick read

rule-based

Pros

+Strong return on equity of 22.7% (3-yr avg)
+High return on capital employed of 27.6%
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 19.3×
+Dividend yield of 2.9%
+Dividend payout of 64.8% of profit
+High promoter holding of 74.3% with no pledge

Cons

No red flags triggered.

Research score

Structured signal from quality, growth, valuation and momentum.

47/100

Business quality: 77
Growth: 38

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY MIDCAP 150 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Persistent Systems LimitedPERSISTENTPERSISTENT	₹84,691 Cr	₹84,691 Cr	₹15,718 Cr	₹2,881 Cr	19%	₹1,923 Cr	12.7%	34.2%	26.3%	48
Coforge LimitedCOFORGECOFORGE	₹80,837 Cr	₹81,237 Cr	₹18,152 Cr	₹3,397 Cr	17.9%	₹1,717 Cr	10.6%	22.2%	19.7%	88
Mphasis LimitedMPHASISMPHASIS	₹42,956 Cr	₹44,749 Cr	₹16,531 Cr	₹3,071 Cr	18.8%	₹1,910 Cr	11.7%	24.7%	18.3%	58
Hexaware Technologies LimitedHEXTHEXT	₹29,966 Cr	₹29,966 Cr	₹14,420 Cr	₹2,155 Cr	14.2%	₹1,344 Cr	10.2%	—	—	—
Tata Elxsi LimitedTATAELXSITATAELXSI	₹19,268 Cr	₹19,268 Cr	₹3,886 Cr	₹876 Cr	22.5%	₹655 Cr	16.7%	29.9%	21.3%	-54
Fractal Analytics LimitedFRACTALFRACTAL	₹12,510 Cr	₹12,796 Cr	₹3,300 Cr	₹508 Cr	15.4%	₹292 Cr	8.7%	15.3%	11.8%	61
Rategain Travel Technologies LimitedRATEGAINRATEGAIN	₹9,953 Cr	₹10,875 Cr	₹2,336 Cr	₹459 Cr	18.5%	₹242 Cr	10.7%	13.8%	10.5%	36
Zensar Technologies LimitedZENSARTECHZENSARTECH	₹9,881 Cr	₹9,881 Cr	₹5,811 Cr	₹926 Cr	16.1%	₹776 Cr	13.6%	23%	17.6%	31
ASM Technologies LtdASMTECASMTEC	₹9,641 Cr	₹9,754 Cr	₹529 Cr	₹101 Cr	19.1%	₹26 Cr	11.5%	33.3%	25.7%	202
Intellect Design Arena LimitedINTELLECTINTELLECT	₹8,566 Cr	₹8,566 Cr	₹3,182 Cr	₹603 Cr	19.1%	₹351 Cr	11.3%	15.6%	11.6%	46
Birlasoft LimitedBSOFTBSOFT	₹7,542 Cr	₹7,551 Cr	₹5,404 Cr	₹930 Cr	16.3%	₹573 Cr	9.8%	21.2%	13.7%	63
Sonata Software LimitedSONATSOFTWSONATSOFTW	₹7,124 Cr	₹7,692 Cr	₹11,015 Cr	₹752 Cr	6.9%	₹463 Cr	4.3%	32.4%	25.7%	-19

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Dec 2024	Dec 2025	Mar 2026
	11,974	13,430	13,430
	10,144	11,519	11,519
	1,830	1,911	1,911
OPM %	15.3%	14.2%	14.2%
Depreciation	279	361	361
Interest	66	101	101
	75	277	277
Profit before tax	1,560	1,727	1,727
Tax	386	359	359
Tax %	24.8%	20.8%	20.8%
	1,174	1,368	1,368
PAT margin %	9.8%	10.2%	10.2%
EPS (₹)	19.4	22.5	22.5
EPS adjusted (₹)	19.4	22.5	—
Annual report	Annual report for Dec 2024	Annual report for Dec 2025	—

₹ Cr	Mar 2024	Dec 2024	Mar 2025	Dec 2025
Equity capital	61	61	61	61
Reserves	5,296	5,296	6,255	6,255
	—	0	—	0
	3,638	3,638	4,589	4,589
Total equity & liabilities	8,995	8,995	10,905	10,905
	3,200	3,760	4,518	5,130
CWIP	131	131	51	51
Investments	145	0	2	145
	5,519	5,104	6,334	5,579
Total assets	8,995	8,995	10,905	10,905

₹ Cr	Mar 2024	Dec 2024	Mar 2025	Dec 2025	Mar 2026
	1,548	1,548	1,739	1,739	1,739
	-669	-669	-996	-996	-996
	-682	-682	-831	-831	-831
Net cash flow	197	197	-88	-88	-88
Free cash flow	—	1,415	—	1,572	1,572
CFO / Operating profit %	—	84.6%	—	91%	91%

Compounded sales growth

7 years: —
5 years: —
3 years: —
1 year: 0%

Compounded profit growth

7 years: —
5 years: —
3 years: —
1 year: 0%

Stock price CAGR

10 years: —
5 years: —
3 years: —
1 year: -28%

Return on equity

7 years: —

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs.

Source XBRL ↗

Latest reported period · 31 Dec 2025 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities
Financial Services (FS)	4,035.8	1,315.1	0	0
Healthcare & Insurance (H&I)	2,832.4	1,034.4	0	0
Hi-Tech and Professional Services (HTPS)	2,171.6

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Dec 2024	Dec 2025	Mar 2026
Margins
Gross margin %	—	—	—
EBITDA margin %	15.3%	14.2%	14.2%
EBIT margin %	13%	11.5%	11.5%
PAT margin %	9.8%	10.2%	10.2%
Working capital
Receivable days	60	56	—
Inventory days	0	0	—
Payable days	33	32	—
NWC days	27	24	—
Leverage
Current ratio	1.58	1.44	—
Debt to EBITDA	0	0	—
Debt to equity	0	0	—
Interest coverage	24.6	19.3	19.3
Asset turnover	1.33	1.23	—
Return ratios
Return on assets %	13.1%	12.5%	—
Return on capital employed %	26.6%	28.7%	—
Return on equity %	21.9%	21.7%	—

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.71%	74.71%	74.57%	74.55%	74.3%	74.3%	74.3%
	10.3%	10.59%	9.76%	8.31%	8.15%	4.2%	3.19%
	8.65%	9.05%	9.88%	11.13%	11.31%	15.04%	16.06%
Government	0%	0%	0%	0%	0%	0%	0%
	6.34%	5.65%	5.61%	6%	5.97%	6.2%	6.25%
No. of shareholders	—	—	—	1,14,719	1,11,984	1,18,229	1,26,681

Promoter holding down 0.41 percentage points since Dec 2024.

Mr. JOSEPH MCLAREN QUINLANNon-Executive - Independent Director-Chairperson
Mr. JULIUS MICHAEL GENACHOWSKINon-Executive - Non Independent Director
Ms. SANDRA JOY HORBACHNon-Executive - Non Independent Director
Ms. LUCIA DE FATIMA SOARESNon-Executive - Non Independent Director
Mr. NEERAJ BHARADWAJNon-Executive - Non Independent Director
Mr. KAPIL MODINon-Executive - Non Independent Director
Ms. SUKANYA KRIPALUNon-Executive - Independent Director
Mr. ALOK CHANDRA MISRANon-Executive - Independent Director
Mr. SRIKRISHNA RAMAKARTHIKEYANExecutive Director
Gunjan MethiCompliance Officer & Company Secretary

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

49

across 11 fund houses

Held by these funds

6.71%

of the company's equity

All mutual funds

15.53%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

49 schemes · 11 fund houses

		Shares
Large and Midcap Fund	SBI Mutual Fund	1.2 Cr	665.99	1.57%	1.965%	-0
Technology Fund	ICICI Prudential Mutual Fund	36.81 L	204.22	1.49%	0.603%	-0
Franklin India Small Cap Fund (Formerly known as Franklin India Smaller Companies Fund) ^	Franklin Templeton Mutual Fund	33.15 L	183.92	1.25%	0.543%	-0
ELSS Tax Saver Fund	SBI Mutual Fund	29.1 L	161.44	0.51%	0.476%	-24.94 L
Innovation Fund	ICICI Prudential Mutual Fund	25.79 L	143.06	1.79%	0.422%	-12,002
Franklin India Mid Cap Fund (Formerly known as Franklin India Prima Fund) ^	Franklin Templeton Mutual Fund	24.98 L	138.57	1.06%	0.409%	-0
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	21.51 L	119.33	1.46%	0.352%	-0
Technology Opportunities Fund	SBI Mutual Fund	18 L	99.86	2.23%	0.295%	-0

1–8 of 49

1 / 7

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

30

Annual reports

2

Investor Presentation and earnings call

2

Feb 2026Transcript AI Summary PPTREC
Jul 2025Transcript AI Summary PPT

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

3

Interim dividend5 May 2026 · ex-date₹8.5
Interim dividend10 Oct 2025 · ex-date₹5.75
Interim dividend15 Apr 2025 · ex-date₹5.75

1

Board meeting to consider results29 Jul 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

153 announcementsExport CSV

16 Jul 2026, 4:51 pmCompany Update

Hexaware And Factory Partner To Bring Agent-Native Development To Global Enterprises

General PDF

13 Jul 2026, 3:11 pmCompany Update

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 PDF

9 Jul 2026, 11:38 amCompany Update

Hexaware Names Srinivasan Panchapakesan Chief Platform Officer

General PDF

6 Jul 2026, 6:49 pmCompany Update

Hexaware And Smartrent Enter Strategic Partnership To Transform To AI-Native Customer Operations And Revenue Processes

General PDF

2 Jul 2026, 1:11 pmCompany Update

Hexaware Recognized Among Top Providers In Whitelane Research UK & Ireland 2026 IT Sourcing Study

General PDF

30 Jun 2026, 5:54 pmCompany Update

Hexaware Launches Tensai® For Reasoning Ops To Bring Agentic AI To Enterprise IT Operations

General PDF

29 Jun 2026, 3:11 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

25 Jun 2026, 6:03 pmCompany Update

Hexaware Becomes Anthropic Authorized Reseller For Amazon Bedrock

General PDF

Date	Category	Subject	Filing
16 Jul 2026, 4:51 pm	Company Update General	Hexaware And Factory Partner To Bring Agent-Native Development To Global Enterprises	PDF
13 Jul 2026, 3:11 pm	Company Update Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

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Hexaware Technologies Limited

Hexaware Technologies Limited

About

Key insights

Key risks

Growth drivers

Risk & technicals

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Stock price CAGR

Return on equity

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Investor Presentation and earnings call

Events

Dividends3

Board meetings1

Announcements

Not in the F&O segment

Dividends3

Board meetings1

Ratio timeline

Quarterly record

Board and management

Announcements

Annual reports

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Stock price CAGR

Return on equity

Segment results

Banking · revenue

3

1

3

1