MarketFriction

Hexaware Technologies Ltd

NSE HEXT · BSE 544362 · Computers - Software & Consulting
₹490.45 -0.74%
NSE close2026-10-01
52 week range400.20 - 807.75
Market cap₹29,457 Cr.
P/E20.8
IPO 2025 · -31% since Nifty 500Midcap 150 Price band 20% Delivery 35.3%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2020Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,5862,6162,7492,9363,1363,1543,2083,2613,4843,4783,6133,845
Expenses1,3082,2852,3312,5042,6452,6642,6802,8562,8823,1003,0423,240
Operating Profit277331418431491490528404601378571605
OPM %18%13%15%15%16%16%16%12%17%11%16%16%
Other Income-6101030112441601010222-50
Interest13710122321222126312933
Depreciation5794606974767475891249182
Profit before tax201240358380406417436468497326473441
Tax %19%20%22%28%26%23%25%19%26%10%26%25%
Net Profit163193279275300321327380370292352330
EPS in Rs5.426.429.314.534.985.255.386.246.084.785.755.40
Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025TTM
Sales3,1243,5353,9424,6485,5836,2627,1789,20010,38011,97413,43014,420
Expenses2,5792,9583,2863,9114,7015,2126,0427,9748,80910,13911,51412,265
Operating Profit5455776567368811,0501,1361,2261,5721,8351,9172,155
OPM %17%16%17%16%16%17%16%13%15%15%14%15%
Other Income9404958123567179227527784
Interest1123105237384271106119
Depreciation48556365103232224244284279361385
Profit before tax5055606417277798009411,1231,2681,5601,7271,736
Tax %22%25%22%20%18%22%20%21%21%25%21%
Net Profit3934195005836416227498849981,1741,3681,343
EPS in Rs13.0413.8816.8319.6221.4920.6924.9329.4433.2219.3622.4122.01
Dividend Payout %66%40%24%43%40%17%32%75%53%45%51%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth16%16%13%13%
Compounded Profit Growth14%18%18%7%
Stock Price CAGR10%%%-28%
Return on Equity24%23%24%25%
Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025Jun 2026
Equity Capital606059596060606061616161
Reserves1,3731,6811,9482,3322,7063,1763,7284,0634,5745,2966,2556,651
Borrowings000014323650456394574681683
Other Liabilities5875705387421,2601,6661,8361,9342,1733,0633,9064,181
Total Liabilities2,0212,3112,5453,1334,1695,1385,6746,5147,2028,99410,90211,576
Fixed Assets5334795415742,0382,4782,3912,5882,4543,7605,1305,473
CWIP1163232562248610126551315052
Investments4121211330123025101450
Other Assets1,3301,4881,7262,3222,0422,6493,1483,9204,4425,1045,5776,051
Total Assets2,0212,3112,5453,1334,1695,1385,6746,5147,2028,99410,90211,576
Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Cash from Operating Activity4133934734765495961,4389808211,5161,5481,739
Cash from Investing Activity11914-197-95-8-1,001-416-21013-284-663-914
Cash from Financing Activity-535-314-249-280-250-169-242-602-721-750-682-831
Net Cash Flow-39326102290-573780167113482203-6
Free Cash Flow3532572513814884671,3971,2117021,4521,4171,576
CFO/OP118%95%107%99%96%86%151%104%87%113%101%110%
Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Debtor Days525145506364475275656056
Inventory Days
Days Payable
Cash Conversion Cycle525145506364475275656056
Working Capital Days1619263635182980-9-16
ROCE %34%37%35%34%33%30%27%27%28%27%30%30%
Jun 2019Sep 2019Dec 2019Mar 2020Jun 2020Sep 2020Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters62.52%62.45%62.44%62.44%62.34%91.16%74.71%74.57%74.55%74.30%74.30%74.30%
FIIs16.76%17.85%16.97%16.82%14.03%2.94%10.59%9.76%8.31%8.15%4.20%3.19%
DIIs11.88%11.58%12.41%12.86%13.12%0.00%9.06%9.87%11.13%11.31%15.04%16.06%
Public8.84%8.12%8.17%7.88%10.51%5.90%5.65%5.61%5.99%5.97%6.18%6.23%
Others0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.18%0.01%0.27%0.26%0.20%
No. of Shareholders78,73379,59282,41280,89785,69060,4081,20,6001,09,8531,14,7191,11,9841,18,2291,26,681

Fundamentals

Market Cap₹ 29,457 Cr.
Current Price₹ 482
Stock P/E20.8
Book Value₹ 110
ROCE30.1 %
ROE24.9 %
Dividend Yield2.39 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)13%
Compounded Profit Growth (TTM)7%
Consolidated figures.
Valuation
Market capRs 29,885 Cr
Enterprise valueRs 28,583 Cr
P/E (TTM)22.24x
Price to book4.73x
Price to sales2.07x
EV / EBITDA12.76x
EV / EBIT15.41x
EV / sales1.98x
Price to cash flow17.18x
Earnings yield4.50%
Dividend yield2.34%
P/E, 3-year average29.01x
P/B, 3-year average6.30x
P/E, 5-year average27.63x
P/B, 5-year average5.91x
Profitability
Operating margin (excl. other income)14.27%
Operating margin (incl. other income)16.34%
EBITDA margin15.53%
Pre-tax margin12.04%
Net profit margin9.32%
Net margin, latest quarter8.58%
ROE23.46%
ROCE28.35%
ROA13.76%
ROE, 3-year average23.26%
ROCE, 3-year average28.47%
ROA, 3-year average14.28%
ROE, 5-year average22.69%
ROCE, 5-year average27.95%
ROA, 5-year average14.24%
ROIC (approx.)29.31%
Tax rate20.76%
Other income / net worth4.39%
Growth
Sales growth (latest year)12.16%
Profit growth (latest year)16.39%
Sales CAGR, 3 years13.44%
Sales CAGR, 5 years16.49%
Profit CAGR, 3 years15.69%
Profit CAGR, 5 years17.11%
Sales growth QoQ6.43%
Profit growth QoQ-6.17%
Sales growth YoY (latest quarter)17.93%
Profit growth YoY (latest quarter)-13.16%
Per share
EPS (TTM)Rs 22.05
EPS (latest year)Rs 22.47
EPS (latest quarter)Rs 5.41
EPS, 3-year averageRs 19.42
EPS, 5-year averageRs 19.55
Book value per shareRs 103.65
Sales per shareRs 236.65
Cash flow per shareRs 28.54
Free cash flow per shareRs 25.86
Dividend per share (latest year)Rs 11.49
Dividend per share, 3-year averageRs 9.67
Dividend per share, 5-year averageRs 9.60
Dividends
Dividend payout51.15%
Dividend payout, 3-year average49.87%
Dividend payout, 5-year average51.40%
Efficiency
Asset turnover1.23x
Fixed asset turnover2.62x
Debtor days56 days
Debtors turnover6.53x
Cash conversion cycle56 days
Working capital days-16 days
Leverage
Total debtRs 681 Cr
Cash and bankRs 1,982 Cr
Net debtRs -1,302 Cr
Debt to equity0.11x
Net debt / EBITDA-0.58x
Interest coverage15.59x
Current ratio (filing 2026-06-30)1.43x
Quick ratio (filing 2026-06-30)1.43x
Trade payables (filing 2026-06-30)Rs 1,161 Cr
Owners' fund to total sources57.93%
Debt to assets6.24%
Cash flow
Cash from Operating Activity (latest year)Rs 1,739 Cr
Cash from Investing Activity (latest year)Rs -914 Cr
Cash from Financing Activity (latest year)Rs -831 Cr
Net Cash Flow (latest year)Rs -6 Cr
Free cash flow (latest year)Rs 1,576 Cr
FCFE (approx.: FCF + change in debt)Rs 1,682 Cr
Cash from ops / profit, 5 years1.28x
Sales to cash flow7.72x
Statement figures
Net sales (TTM)Rs 14,420 Cr
Net sales (latest year)Rs 13,430 Cr
Sales (latest quarter)Rs 3,845 Cr
Operating profit excl. other income (latest year)Rs 1,917 Cr
Operating profit (latest quarter)Rs 605 Cr
Other income (TTM)Rs 84 Cr
EBITDA (TTM)Rs 2,240 Cr
PBDT (TTM)Rs 2,121 Cr
Profit before tax (TTM)Rs 1,736 Cr
Tax (latest year)Rs 358 Cr
Net profit (TTM)Rs 1,344 Cr
Net profit (latest year)Rs 1,369 Cr
Net profit (latest quarter)Rs 330 Cr
Depreciation (TTM)Rs 385 Cr
Depreciation (latest quarter)Rs 82 Cr
Interest (TTM)Rs 119 Cr
Cost of goods sold (latest year)Rs 836 Cr
Total expenditure (latest year)Rs 11,514 Cr
Total income (latest year)Rs 13,708 Cr
Share capitalRs 61 Cr
ReservesRs 6,255 Cr
Shareholders' fundsRs 6,316 Cr
Total assetsRs 10,902 Cr
Net blockRs 5,130 Cr
Capital work in progressRs 50 Cr
InvestmentsRs 145 Cr
ReceivablesRs 2,056 Cr
Other liabilitiesRs 3,906 Cr
Shares outstanding (crore)60.93
Ownership
Promoter holding74.30% (-0.27 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 22.2 is at the 8th percentile of its own 5.4-year range (median 36.8, low 18.9, high 55.9).
P/B 4.73 is at the 3th percentile (median 8.98).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodHEXTNifty 50Difference
1 week-1.8%-2.8% +1.0 pts
1 month-11.0%-6.8% -4.2 pts
3 months-10.3%-7.6% -2.7 pts
6 months+15.4%+0.4% +15.0 pts
1 year-28.0%-9.9% -18.1 pts
3 years+4.2%+14.2% -10.0 pts
5 years+4.2%+27.9% -23.7 pts
105 mutual fund schemes hold about ₹5,360 Cr. Over three months 80 bought more and 17 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
HDFC Mid Cap Fund0.76%828 +12%
SBI Large & Midcap Fund1.57%666 +16%
HDFC Flexi Cap Fund0.48%544 +87%
Quant Small Cap Fund1.19%421 +100%
HDFC Balanced Advantage Fund0.28%301 +19%
ICICI Pru Technology Fund1.50%204 +10%
Franklin India Small Cap Fund1.25%184 +2%
SBI ELSS Tax Saver Fund0.51%161 -35%
ICICI Pru Innovation Fund1.79%140 -0%
Franklin India Mid Cap Fund1.06%139 +15%
Motilal Oswal Small Cap Fund1.46%119 +28%
Aditya Birla SL Midcap Fund1.49%104 +14%
Aditya Birla SL Midcap Fund1.49%100 +14%
SBI Technology Opp Fund2.23%100 +7%
Bandhan Large & Mid Cap Fund0.44%92 -48%
Kotak Small Cap Fund0.45%89 +48%
Aditya Birla SL Digital India Fund2.12%87 +15%
SBI Innovative Opportunities Fund1.52%79 +13%
Aditya Birla SL Balanced Advantage Fund0.71%72 +13%
Tata Mid Cap Fund1.00%63 +13%
Aditya Birla SL Multi-Cap Fund0.81%61 +12%
ICICI Pru Large Cap Fund0.07%60 +19%
Invesco India Flexi Cap Fund1.03%59 +11%
Quant Momentum Fund4.26%58 +100%
Tata Digital India Fund0.55%56 +7%

Red flags

F-score 5 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹3,845 Cr +17.9% vs Jun 2025. Net profit ₹330 Cr -13.2%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-05-05Interim Dividend - Rs 8.50 Per Share
2025-10-10Interim Dividend - Rs 5.75 Per Share
2025-04-15Interim Dividend - Rs 5.75 Per Share
DateTypeWhat it says
2026-10-01Change in ManagementChange in SMP
2026-09-30UpdatesClarification regarding voting recommendations issued by Proxy Advisory Firms.
2026-09-30General UpdatesGrant of ESOP options
2026-09-22UpdatesPress Release.
2026-09-17UpdatesPress Release.
2026-09-15Concall / analyst meetSchedule of meet
2026-09-15UpdatesPress Release.
2026-09-09Shareholder meetingNotice of Postal Ballot
2026-09-03ResignationResignation of Director/KMP/SMP
2026-09-02ESOP grantOptions to purchase securities
2026-09-02Press ReleaseA press release dated September 02, 2026, titled "Hexaware Appoints Vivek Jetley as CEO Designate to Lead its Next Phase of AI-Led Growth".
2026-09-02AppointmentAppointment of Vivek Jetley as Chief Executive Officer of the company w.e.f. October 28, 2026.
2026-09-02ResignationResignation of Mr R Srikrishna as Chief Executive Officer of the company w.e.f. October 28, 2026.
2026-09-01UpdatesPress Release.
2026-08-28General UpdatesGeneral Updates
2026-08-25UpdatesHexaware and Ashoka Innovators Partner to Support SocialEntrepreneurs in India.
2026-08-21Investor PresentationInvestor Presentation
2026-08-19UpdatesHexaware Introduces Zero Vulnerability as AI Raises the Pressureon Enterprise Remediation.
2026-08-19UpdatesUpdate.
2026-08-17UpdatesHexaware Helps Enterprises Achieve Infinite Momentum byRemoving Friction Across the Estate.
2026-08-13UpdatesHexaware and upGrad Enterprise Expand Collaborationfor Global Enterprise AI Programs.
2026-08-06UpdatesIntimation of AI Day 2026.
2026-08-06UpdatesHexaware Joins the Microsoft Intelligent Security Association(MISA).
2026-08-05Concall / analyst meetSchedule of meet
2026-08-04UpdatesHexaware Named a Top 15 Sourcing Standout by ISG.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
The Overall encumbered share in the scrip is more than 50 Percent.

Quick answers

What is the market cap of Hexaware Technologies Ltd?

Hexaware Technologies Ltd (HEXT) has a market capitalisation of Rs 29,457 Cr. at the 2026-10-01 close.

What is the P/E ratio of Hexaware Technologies Ltd?

Hexaware Technologies Ltd trades at a P/E of 20.8 on trailing twelve-month profit, at the 2026-10-01 close.

What were Hexaware Technologies Ltd's latest quarterly results?

In the Jun 2026 quarter, Hexaware Technologies Ltd sales was Rs 3,845 Cr (+17.9% vs Jun 2025) and net profit was Rs 330 Cr.

What is the 52-week high and low of Hexaware Technologies Ltd?

The 52-week high is Rs 807.75 and the 52-week low is Rs 400.20.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03