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Investor Presentation – Q2CY25 July 2025 © 2025 Hexaware Technologies
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2 © Hexaware Technologies. Confidential briefing. Certain statements in this presentation concerning our future growth prospects are forward -looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward -looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases, our a bility to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, re strictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disrup tions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Hexaware has made strategic investments, withdrawal of governmental fiscal i ncentives, political instability, legal restrictions on raising capital or acquiring companies, and unauthorized use of our intellectual property and general economic conditions affecting our industry. The Company may, from time to time, make additional written and oral forward stat ements. We do not undertake to update any forward statements that may be made from time to time by us or on our behalf unless required under th e law. Use of Non-GAAP Financials Hexaware has included certain non-GAAP financial measures in this presentation to supplement Hexaware’s consolidated financial s tatements presented on a GAAP basis. These non-GAAP financial measures may have limitations as analytical tools, and these measures should not be considered in isolation or as a substitute for analysis of Hexaware’s results as reported under GAAP. The non-GAAP financial information that we provide also may differ from the non -GAAP information provided by other companies. We compensate for the limitations on our use of these non-GAAP financial measures by relying primarily on our GAAP financial statements and us ing non-GAAP financial measures only supplementally. We have provided reconciliations of non -GAAP earnings to the most directly comparable GA AP earnings, and we encourage investors to review those reconciliations carefully. We believe that providing these non-GAAP financial measures in addition to the related GAAP measures provides investors with gre ater transparency. We further believe that providing this information better enables investors to understand Hexaware’s operating performance and financial condition. Rounding off Certain amounts and percentage figures included in this presentation have been subject to rounding adjustments. Accordingly, figures shown as totals in certain tables may not be an arithmetic aggregation of the figures preceding them. Safe Harbor Statement / Forward-looking and Cautionary Statement / Disclaimer
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3© 2025 Hexaware Technologies Key Financial and Business Highlights Revenue: • Q2CY25: USD 382.1 Mn | INR 32,607 Mn o USD : +2.8% QoQ; +8.6% YoY o INR : +1.6% QoQ; +11.1% YoY o Constant Currency : +1.3% QoQ; +7.5% YoY Profitability: • EBITDA (1): Q2CY25: 17.2% o +53 bps QoQ & +156 bps YoY in % terms o +6.1% QoQ & +19.4% YoY in absolute terms • Basic EPS: o Q2CY25: INR 6.25 | +16.2% QoQ & +37.7% YoY Strategic Investments: • Hexaware acquires SMC, a leader in building GCCs • Set up client experience centre (CEC) in Chicago Key People Metrics: • Closing Headcount: 32,410 • Voluntary Attrition for IT(2): 11.1% • Q2CY25 Utilization Rate for IT(3): 83.7% Key Customer Metrics: • Hexaware Ranked #1 in Service Delivery in the 2025 Whitelane Research IT Sourcing Study for UK&I • Scaled 1 more customer to $50 Mn+ category taking the total count to 4 on Q2’25 LTM basis Strategies on Growth acceleration: • Launched new AI based software engineering offering • Legacy modernization using RapidX, Gen AI • Private Equity as a channel for Revenue growth • Expand presence in ISV’s and Hitech • Expand presence in India/GCC and Middle East Financial Highlights Business Highlights Notes: (1) EBITDA in USD terms (2) Voluntary attrition rate for the IT service line is calculated as the total number of IT business professionals and support function professionals who left the company voluntarily during a period, divided by the average number of IT business professionals and support function professionals during the period, computed on a trailing twelve-month basis. (3) Utilization rate for IT is calculated as the total hours IT business professionals spend on customer-billed assignments, divided by the total available base hours. IT business professionals designated as Mavericks (campus hires) are included in the utilization computation after the completion of an initial training period of up to four months. (4) Includes restricted cash balance Cash • Closing cash balance as of 30th Jun 2025(4) : INR 19,248 Mn
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4© 2025 Hexaware Technologies Hexaware acquires SMC, a leader in building Global Capability Centers About SMC • SMC is a leader in building global capability centers (GCCs) • SMC leadership brings over a decade of experience in setting up 30+ GCCs for a diverse clientele including Fortune 500 companies, multinationals, and high-growth startups. • Total workforce of around 500 employees and delivery centers in India (Bengaluru and Hyderabad). Strategic Rationale • Tap the fast-growing India GCC market which is expected to cross $100Bn by 20301 • Accelerate Hexaware’s GCC journey and deepen its capability by leveraging the decade old expertise of SMC leadership • Create a GCC 2.0 service line combining SMC’s deep GCC expertise with Hexaware’s platforms-led delivery model to deliver world-class and future-proof GCC operations • Drive significant growth and unlock synergy potential across large accounts in the near future including Hexaware’s broader client base. • Together with SMC, deliver end-to-end solutions for clients looking to set-up, scale and optimize their GCC operations by integrating SMC’s GCC setup capabilities with Hexaware’s strengths inAI, analytics, cloud transformation, modernization, and enterprise platforms Leadership • Co-founded and led by — Patricia Connolly (CEO) and Steven Stephan (COO). Both will continue to manage the business post-acquisition, ensuring continuity and stability. • Patricia will report into Amrinder Singh, who heads Hexaware’s Europe and APAC markets and Hexaware’s GCC 2.0 service line 1India's global centre market to grow to $105 billion by 2030, says Nasscom-Zinnov report
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5© 2025 Hexaware Technologies Hexaware acquires SMC, a leader in building Global Capability Centers • All revenues are from US based customers • Operates through three models • Build-optimize-transfer • Managed services • Hybrid solution • Revenue : CY’24 - ~$22Mn; H1’25 - ~$16Mn • Deal consideration : $90Mn consisting of upfront payment( $45Mn) and earnout linked payouts ( $45Mn). In addition, $30Mn to paid as outperformance earnout bonus • All cash transaction Financials and Key transaction terms • SMC is a niche and well-regarded player in the GCC space • Continue to retain the SMC brand as a distinct identity within Hexaware for its GCC 2.0 Service line. Integration plan
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6© 2025 Hexaware Technologies 30% 21%14% 17% 9% 9% Diverse Presence Across Verticals and Geographies Q2CY25 Growth (%)(1) QoQ YoY Financial Services 1.1% 15.7% Healthcare & Insurance 2.1% 6.6% Manufacturing & Consumer -0.6% -11.5% High Tech & Professional Services 2.9% 14.1% Banking 13.5% 7.1% Travel & Transportation 7.2% 23.4% Q2CY25 Growth (%)(1) QoQ YoY Americas 1.7% 10.3% Europe 7.9% 7.9% Asia Pacific 2.2% -8.3% Vertical Split (%) Geographic Split (%) Q2CY25 Revenue Split 75% 19% 6% Q2CY25 Revenue Split Note: (1) In USD terms IT - BPS Split(%) Q2CY25 Growth (%)(1) QoQ YoY IT Services & Others* 3.1% 9.2% BPS Services 1.1% 4.7% 88% 12% Q2CY25 Revenue Split * Depicts total of IT services and others as presented in the Financial Statements
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7© 2025 Hexaware Technologies Diverse Clientele with Strong Partnerships Client Pyramid (# LTM) 197 >$75 >$50 >$20 >$10 >$5 >$1 3 3 14 3 30 56 177 Q2CY24 4 15 31 66 Q2CY25USD Mn(1) Revenue Contribution by Customer Group (LTM %) Note: (1) Represents revenue earned from customers. 25.4% 35.6% 49.4% 25.7% 35.8% 49.7% 25.8% 36.6% 50.1% Top 5 customers Top 10 customers Top 20 customers LTM Q2CY24 CY24 LTM Q2CY25
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8© 2025 Hexaware Technologies Winning Across Domains: Key Successful Deals Large Private Equity Firm Leveraging Salesforce to strengthen sales execution of Global Wealth business Leading Insurance provider in Belgium Azure Migration Large Property management company in the US Multiple deals in AI and ERP Large US based Fintech firm AI Driven services for Enterprise Product Development , Assurance services and Cloud Ops International Healthcare company based in Australia Amaze based app modernization Top 5 Global Bank Amaze based app modernizationn Large Airline + Large financial Institution RapidX based legacy modernization Global supply chain management and logistics services company in the US Cloud consolidation
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9© 2025 Hexaware Technologies Q2CY25 Financial Highlights Revenue (USD Mn) Revenue (INR Mn) Reported EBITDA (USD Mn) Reported Profit (USD Mn) 11.0% 8.6%12.4% 6.4% 2.8%(0.2%) YoY (%) QoQ (%) Margin (%) 17.2%16.7%15.7% 12.7% 11.1%16.7% 6.8% 1.6%1.7% YoY (%) QoQ (%) Margin (%) 11.6%10.3%9.3% • Reported EBITDA 17.2%; +19.4% YoY growth (+156 bps) • Reported Net Profit 11.6% +35.0% YoY growth (+226 bps YoY) • Reported EBIDTA expansion of 53 bps QoQ $382 $372 $352 Q2CY25Q1CY25Q2CY24 $66 $62 $55 Q2CY25Q1CY25Q2CY24
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10© 2025 Hexaware Technologies Enhancing Operational Efficiency Through Revenue Optimization and Talent Management Revenue Mix – Onshore & Offshore (%)(1) Total Headcount (#) Voluntary Attrition Rates (%)(2) Utilization Rates (%)(3) IT Business Professionals Notes: (1) For IT Services (2) Voluntary attrition rate for the IT service line is calculated as the total number of IT business professionals and support function professionals who left the company voluntarily during a period, divided by the average number of IT business professionals and support function professionals during the period, computed on a trailing twelve-month basis. (3) Utilization rate for IT is calculated as the total hours IT business professionals spend on customer-billed assignments, divided by the total available base hours. IT business professionals designated as Mavericks (campus hires) are included in the utilization computation after the completion of an initial training period of up to four months. IT Business Professionals 32,41031,56432,30932,53631,870 Q2CY25Q1CY25Q4CY24Q3CY24Q2CY24 53.3%54.4%56.3%56.4%56.2% 46.7% 45.6% 43.7% 43.6% 43.8% Q2CY25Q1CY25Q4CY24Q3CY24Q2CY24 Onshore IT Services (%) Offshore IT Services (%) 83.7%82.1% 81.6% 82.9% 82.4% Q2CY25Q1CY25Q4CY24Q3CY24Q2CY24 11.1% 11.2% 10.8% 11.3% 12.0% Q2CY25Q1CY25Q4CY24Q3CY24Q2CY24
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11© 2025 Hexaware Technologies Cash Flow, ETR, and EPS Metrics DSO (Days) (1) LTM OCF / Adj. EBITDA – Adjusted Cash Conversion (%) (2) Effective Tax Rate (%) Basic EPS (INR) Notes: DSO: Days Sales Outstanding; OCF: Operating Cashflows; EPS: Earnings Per Share. (1) DSO is computed based on trailing 3 months of USD revenue (2) LTM OCF / Reported EBIDTA – 79.4% 40 39 38 40 42 33 36 27 32 29 73 75 65 72 71 Q2CY25Q1CY25Q4CY24Q3CY24Q2CY24 DSO - Billed DSO - Unbilled 18.9% 25.0% 23.1% 26.2% 27.7% Q2CY25Q1CY25Q4CY24Q3CY24Q2CY24 6.25 5.38 5.25 4.98 4.54 Q2CY25Q1CY25Q4CY24Q3CY24Q2CY24 75.5% 61.9% 74.5% 74.9% 81.0% Q2CY25Q1CY25Q4CY24Q3CY24Q2CY24
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12© 2025 Hexaware Technologies CY25 Outlook • Demand Environment • Continued softness in macros. Slowdown is cyclical in nature, and not Ai driven • Updates on deals and CY 25 • All large consolidation deals are still in works • Small and mid sized deals are progressing well. However, decision making is slowed • Consequently, lowered expectations for the rest of the year • Overall pipeline is solid; Pipeline in strategic initiatives growing rapidly • Vertical View • FS and T&T expected to lead growth • Banking to grow in line with company average • H&I and HTPS to grow marginally below company average • M&C continues to see material weakness due to macros • Margin outlook: • Maintain EBIDTA outlook of 17.1% - 17.4% given earlier even with ERP costs continuing • Outperformance in EPS due to lower ETR • ETR for the year at ~24.5% compared to the range of 25% - 26% provided earlier
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Appendix
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14© 2025 Hexaware Technologies Reconciliation of Adj. EBITDA and Adj. Profit – Q2CY25 EBITDA Profit Q2CY25 Q1CY25 Q2CY25 Q1CY25 Reported Margin 17.2% 16.7% 11.6% 10.3% Add: ESOP compensation cost 0.4% 0.4% - - Add: ERP transformation cost(1) 0.7% 0.6% 0.7% 0.6% Add: One-timer items related to current quarter: 0.2% - 0.2% Non-recurring employee benefits and severance costs 1.0% - 1.0% - Specific provisions for customers and onerous vendor contracts 2.4% - 2.4% - Acquisition related costs(2) 0.4% - 0.4% - Impairment of intangibles acquired in an earlier acquisition 1.2% - 1.2% - Write back of earnout payment of an earlier acquisition (4.8%) - (4.8%) - Less: Other income (excluding exchange rate difference (net) and one -timer) (0.5%) (0.6%) - - Add: Amortization of intangible assets acquired in business combination - - 0.7% 0.7% Less: Tax Impact on above(3) - - (1.3%) (0.3%) Adjusted Margin 18.0% 17.1% 11.9% 11.3% Note: (1) ERP transformation cost consists of professional fees, travel costs, license costs, and the cost of employees working on the implementation of new ERP software (2) Acquisition-related costs consist of professional fees incurred in relation to M&A activities (3) Tax impact for a period/year is computed using the normalized consolidated effective tax rate for the period/year on taxable adjusting items % of Revenue
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15© 2025 Hexaware Technologies Awards and Recognition Hexaware Named Leader in SAP S4HANA System Transformation-Midmarket in the ISG Provider Lens™ SAP Ecosystem Partners 2025 US Quadrant Hexaware Named Leader in SAP S4HANA System Transformation-Midmarket in the ISG Provider Lens SAP Ecosystem Partners 2025 US Quadrant Hexaware Named Leader in Application Modernization Services in the ISG Provider Lens™ Mainframes Services and Solutions 2025 US Quadrant Hexaware Named Leader in Application Modernization Services in the ISG Provider Lens Mainframes Services and Solutions 2025 US Quadrant Recognized Among India’s Leading ESG Entities by DB for the Second Consecutive Year Recognized Among India’s Leading ESG Entities by D&B for the Second Consecutive Year Hexaware Named Leader in Design Development (Products, Services and Experiences) in the ISG Provider Lens™ Digital Engineering Services 2025 US Quadrant Hexaware Named Leader in Design & Development (Products, Services and Experiences) in the ISG Provider Lens Digital Engineering Services 2025 US Quadrant Hexaware Mentioned in Forrester Report: The AI Technical Services Landscape, Q2 2025. Published: May 22,2025, Analysts: Alvin Nguyen, JT Thykattil, Bardia Razzaghi, Kara hartig Hexaware Mentioned in Forrester Report: The AI Technical Services Landscape, Q2 2025. Published: May 22,2025, Analysts: Alvin Nguyen, JT Thykattil, Bardia Razzaghi, Kara hartig Hexaware Named Leader in Implementation Services for Core Clouds and AI Agents — Midmarket in the ISG Provider Lens™ Salesforce Ecosystem Partners 2025 UK Quadrant Hexaware Named Leader in Implementation Services for Core Clouds and AI Agents — Midmarket in the ISG Provider Lens Salesforce Ecosystem Partners 2025 UK Quadrant v Hexaware Named Leader in Managed Services – Large Accounts in the ISG Provider Lens™ Private/Hybrid Cloud – Data Center Services 2025 UK Quadrant Hexaware Named Leader in Managed Services – Large Accounts in the ISG Provider Lens Private/Hybrid Cloud – Data Center Services 2025 UK Quadrant Hexaware recognized in the 2025 Gartner® Report “Emerging Tech: Adoption Trends for Generative AI”. Hexaware recognized in the 2025 Gartner® Report “Emerging Tech: Adoption Trends for Generative AI”. Gold Stevie for Fastest Growing Company of the Year at the 2025 American Business Awards® Gold Stevie for Fastest Growing Company of the Year at the 2025 American Business Awards® Hexaware recognised among Top 25 Most Valuable IT Brands globally Hexaware recognised among Top 25 Most Valuable IT Brands globally Hexaware Wins WOW Workplace Award 2025 Hexaware Wins WOW Workplace Award 2025 Hexaware Recognized as Standout Case Study in Banking and Financial Services in ISG Digital Case Study 2025 ANZ Region Hexaware Recognized as Standout Case Study in Banking and Financial Services in ISG Digital Case Study 2025 ANZ Region Hexaware recognized in the 2025 Gartner® Report “Midmarket Context for Europe: ‘Magic Quadrant for Outsourced Digital Workplace Services Hexaware recognized in the 2025 Gartner® Report “Midmarket Context for Europe: ‘Magic Quadrant for Outsourced Digital Workplace Services Best Scholarship Programme Initiatives of the Year at the Global CSR ESG Awards 2025 Best Scholarship Programme Initiatives of the Year at the Global CSR & ESG Awards 2025 *Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. Named Among ET Now’s Most Innovative Organizations 2025 Named Among ET Now’s Most Innovative Organizations 2025 Hexaware Named Rising Star in Gen AI and AI Services in the ISG Provider Lens™ Google Cloud Partner Ecosystem 2025 US Quadrant Hexaware Named Rising Star in Gen AI and AI Services in the ISG Provider Lens Google Cloud Partner Ecosystem 2025 US Quadrant Hexaware Named a Leader in Platform and Application Services in ISG Provider Lens™ Digital Engineering Services 2025 US Quadrant Report Hexaware Named a Leader in Platform and Application Services in ISG Provider Lens Digital Engineering Services 2025 US Quadrant Report Gold Stevie® for CEO Tech Live Podcast at the 2025 American Business Awards® Gold Stevie® for CEO Tech Live Podcast at the 2025 American Business Awards® Hexaware Named Leader in Snowflake Implementation Services in the ISG Provider Lens™ Snowflake Ecosystem Partners 2025 US Quadrant Hexaware Named Leader in Snowflake Implementation Services in the ISG Provider Lens Snowflake Ecosystem Partners 2025 US Quadrant Ranked #1 in Service Delivery in the 2025 Whitelane Research IT Sourcing Study for UKI Ranked #1 in Service Delivery in the 2025 Whitelane Research IT Sourcing Study for UK&I 2 Bronze Stevies® for Marketing Department Corporate Video at 2025 American Business Awards® 2 Bronze Stevies® for Marketing Department & Corporate Video at 2025 American Business Awards® Dun Bradstreet Helps Sales and Marketers Speed Path from Prospect to ...
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16© 2025 Hexaware Technologies Creating Meaningful Impact Beyond Business Bringing Smiles to the Planet and Communities We Live In • Achieve net zero greenhouse gas (GHG) emissions (Scope 1 and 2) by 2040 • Transition 70% of campus electricity usage to renewable sources by 2030 • Achieve water neutrality for owned operations by 2030 and zero waste to landfill at owned facilities by 2025 • Increased electricity usage from renewable energy across all India locations from 39.7% in 2023 to 52% in 2024 • Increased our renewable energy usage from 59% in 2023 to 71% in 2024 at our campuses in Chennai, Pune, and Nagpur 93,746 Lives Benefitted Through Our CSR Efforts Educational Initiatives and Skill Development Healthcare Initiatives Environmental Stewardship Women’s Empowerment Sports Initiatives ESG and Sustainability Awards • Ecovadis Assessment: Hexaware is in the top 15% globally, awarded a silver medal with a score of 70, placing in the 92nd percentile worldwide • Net Zero Summit – UBS Forums 2024: Won the “Sustainable Organization of the Year 2024” award • Earns ET Edge’s Sustainable Organizations 2025 honor for decisive climate change • Selected as Dun & Bradstreet India’s Leading ESG Entity Adopting Global Best Practices • Committed to near-term, long-term, and Net Zero targets approved by the Science Based Targets Initiative (SBTi) • Aligned with the frameworks of TCFD, GRI, and UN SDGs • Submit an annual “Communication on Progress (CoP)” to the United Nations Global Compact (UNGC)
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Thank You Please direct all inquiries to Investorrelations@hexaware.com
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July 2025 Investor Factsheet – Q2CY25 © 2025 Hexaware Technologies
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2© 2025 Hexaware Technologies Quarterly Metrics Change In INR million unless stated otherwise Q2CY25 Q1CY25 Q2CY24 QoQ (%) YoY (%) Revenue (USD Mn) $382.1 $371.5 $351.8 2.8% 8.6% Revenue – Constant Currency (CC) 1.3% 7.5% Revenue (INR Mn) 32,607 32,079 29,355 1.6% 11.1% Profitability Reported EBITDA 5,644 5,322 4,607 6.1% 22.5% Reported EBITDA Margin (%) 17.3% 16.6% 15.7% 72 bps 162 bps Adjusted EBITDA 5,903 5,451 5,476 8.3% 7.8% Adjusted EBITDA Margin (%) 18.1% 17.0% 18.7% 111 bps -55 bps Reported Profit 3,797 3,271 2,746 16.1% 38.3% Reported Profit Margin (%) 11.6% 10.2% 9.4% 145 bps 229 bps Adjusted Profit 3,863 3,587 3,576 7.7% 8.0% Adjusted Profit Margin (%) 11.8% 11.2% 12.2% 67 bps -33 bps Basic EPS (INR) 6.25 5.38 4.54 16.2% 37.7% Adjusted EPS (INR) 6.36 5.90 5.90 7.8% 7.8% Cash Flow Operating Cash Flows (OCF) 16,778 13,478 15,047 24.5% 11.5% LTM OCF to Adjusted EBITDA (%) 75.5% * 61.9% 81.0% Key Financial Metrics *LTM OCF / Reported EBIDTA – 79.4%
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3© 2025 Hexaware Technologies Revenue by Vertical In INR million Q2CY25 % of Revenue Q1CY25 % of Revenue Q2CY24* % of Revenue Financial Services 9,784 30.0% 9,786 30.5% 8,266 28.2% Healthcare and Insurance 6,741 20.7% 6,672 20.8% 6,177 21.0% Manufacturing and Consumer 4,690 14.4% 4,780 14.9% 5,180 17.6% High Tech and Professional Services 5,649 17.3% 5,565 17.3% 4,843 16.5% Banking 2,813 8.6% 2,507 7.8% 2,568 8.7% Travel and Transportation 2,930 9.0% 2,769 8.6% 2,321 7.9% Total Revenue 32,607 100.0% 32,079 100.0% 29,355 100.0% Revenue by Geography In INR million Q2CY25 % of Revenue Q1CY25 % of Revenue Q2CY24* % of Revenue Americas 24,543 75.3% 24,428 76.1% 21,761 74.1% Europe 6,242 19.1% 5,846 18.2% 5,653 19.3% Asia Pacific 1,822 5.6% 1,805 5.6% 1,941 6.6% Total Revenue 32,607 100.0% 32,079 100.0% 29,355 100.0% Revenue by IT, BPS, and Others In INR million Q2CY25 % of Revenue Q1CY25 % of Revenue Q2CY24 % of Revenue IT Services 27,971 85.8% 27,215 84.8% 24,706 84.2% BPS Services 3,977 12.2% 3,975 12.4% 3,716 12.7% Others 659 2.0% 889 2.8% 933 3.2% Total Revenue 32,607 100.0% 32,079 100.0% 29,355 100.0% Revenue by Onshore, Offshore IT Services In INR million Q2CY25 % of Revenue Q1CY25 % of Revenue Q2CY24 % of Revenue Onshore IT Services 14,918 53.3% 14,818 54.4% 13,897 56.2% Offshore IT Services 13,053 46.7% 12,397 45.6% 10,809 43.8% Total Revenue 27,971 100.0% 27,215 100.0% 24,706 100.0% Key Revenue Metrics – Q2CY25 * Previous period numbers have been restated to reflect internal organization realignment of customers to verticals and geographies
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4© 2025 Hexaware Technologies Revenue by Vertical In USD million Q2CY25 % of Revenue Q1CY25 % of Revenue Q2CY24* % of Revenue Financial Services 115 30.0% 113 30.5% 99 28.2% Healthcare and Insurance 79 20.7% 77 20.8% 74 21.0% Manufacturing and Consumer 55 14.4% 55 14.9% 62 17.6% High Tech and Professional Services 66 17.3% 64 17.3% 58 16.5% Banking 33 8.6% 29 7.8% 31 8.7% Travel and Transportation 34 9.0% 32 8.6% 28 7.9% Total Revenue 382 100.0% 372 100.0% 352 100.0% Revenue by Geography In USD million Q2CY25 % of Revenue Q1CY25 % of Revenue Q2CY24* % of Revenue Americas 288 75.3% 283 76.2% 261 74.1% Europe 73 19.1% 68 18.2% 68 19.3% Asia Pacific 21 5.6% 21 5.6% 23 6.6% Total Revenue 382 100.0% 372 100.0% 352 100.0% Revenue by IT, BPS, and Others In USD million Q2CY25 % of Revenue Q1CY25 % of Revenue Q2CY24 % of Revenue IT Services 328 85.8% 315 84.8% 296 84.2% BPS Services 47 12.2% 46 12.4% 45 12.7% Others 8 2.0% 10 2.8% 11 3.2% Total Revenue 382 100.0% 372 100.0% 352 100.0% Revenue by Onshore, Offshore IT Services In USD million Q2CY25 % of Revenue Q1CY25 % of Revenue Q2CY24 % of Revenue Onshore IT Services 175 53.3% 172 54.4% 166 56.2% Offshore IT Services 153 46.7% 144 45.6% 130 43.8% Total Revenue 328 100.0% 315 100.0% 296 100.0% Key Revenue Metrics – Q2CY25 * Previous period numbers have been restated to reflect internal organization realignment of customers to verticals and geographies
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5© 2025 Hexaware Technologies Q2CY25 Q1CY25 Q2CY24 # of IT business professionals 21,158 20,577 19,648 # of BPS business professionals 11,252 10,987 12,222 Total Headcount 32,410 31,564 31,870 Voluntary Attrition rate for IT service line(3) 11.1% 11.2% 12.0% Utilization rate for IT(4) 83.7% 82.1% 82.4% Customer Concentration(1) Q2CY25 Q1CY25 Q2CY24 Top 5 customers 25.8% 25.7% 25.4% Top 10 customers 36.6% 36.2% 35.6% Top 20 customers 50.1% 49.8% 49.4% Client Pyramid(2) Q2CY25 Q1CY25 Q2CY24 $75 million + 3 3 3 $50 million + 4 3 3 $20 million + 15 15 14 $10 million + 31 30 30 $5 million + 66 66 56 $1 million + 197 195 177 Key Client and Operational Metrics Key Employee Metrics Notes: (1) Revenue by customer group (top 5, top 10 and top 20) is revenue derived by our Company from these customer groups on TTM basis preceding the relevant date. (2) Client Pyramid is calculated as number of active clients for respective period based on the revenue earned from these customers in the last twelve months preceding the relevant date. (3) Total number of IT business professionals and support function professionals who left the company voluntarily during a period divided by average number of IT business professionals and support function professionals during the period computed on TTM basis. (4) Total hours spent by IT business professionals on customer billed assignments divided by the total available base hours. IT business professionals designated as Mavericks (campus hires) are included in the utilization computation after completion of an initial period of training of up to four months.
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6© 2025 Hexaware Technologies Other Key Metrics Days Sales Outstanding (DSO) # of Days Q2CY25 Q1CY25 Q2CY24 DSO - Billed 40 39 42 DSO - Unbilled 33 36 29 USD / INR Exchange Rate Q2CY25 Q1CY25 Q2CY24 Period Closing Rate 85.76 85.48 83.39 Period Average Rate 85.27 86.52 83.43
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7© 2025 Hexaware Technologies Change In INR million unless stated otherwise Q2CY25 Q1CY25 Q2CY24 QoQ (%) YoY (%) Revenue (USD Mn) 382.1 371.5 351.8 2.8% 8.6% Revenue – Constant Currency 1.3% 7.5% Revenue (INR Mn) 32,607 32,079 29,355 1.6% 11.1% Other Income(1) 1,600 44 296 3,536.4% 440.5% Total Income 34,207 32,123 29,651 6.5% 15.4% (-) Employee Benefits Expense(2) 19,078 18,622 17,247 2.4% 10.6% (-) Other Expenses(3) 9,485 8,179 7,797 16.0% 21.6% EBITDA 5,644 5,322 4,607 6.1% 22.5% EBITDA Margin (%) 17.3% 16.6% 15.7% 72 bps 162 bps (-) / + Adjustments 259 129 869 100.8% (70.2%) Adjusted EBITDA 5,903 5,451 5,476 8.3% 7.8% Adjusted EBITDA Margin (%) 18.1% 17.0% 18.7% 111 bps -55 bps (-) D&A 752 735 687 2.3% 9.5% EBIT 4,892 4,587 3,920 6.6% 24.8% EBIT Margin (%) 15.0% 14.3% 13.4% 70 bps 165 bps (-) Finance Costs 209 224 124 (6.7%) 68.5% Profit before Tax 4,683 4,363 3,796 7.3% 23.4% Total Tax Expense 886 1,092 1,050 (18.9%) (15.6%) Reported Profit 3,797 3,271 2,746 16.1% 38.3% Reported Profit Margin (%) 11.6% 10.2% 9.4% 145 bps 229 bps Adjusted Profit 3,863 3,587 3,576 7.7% 8.0% Adjusted Profit Margin (%) 11.8% 11.2% 12.2% 67 bps -33 bps Basic EPS (INR) 6.25 5.38 4.54 16.2% 37.7% Adjusted EPS (INR) 6.36 5.90 5.90 7.8% 7.8% Summary of Consolidated Statement of Profit and Loss (1) Other Income includes write-back of earnout payable towards an earlier acquisition amounting INR 1,587Mn for Q2CY25 (2) Employee Benefit Expenses includes non-recurring employee benefit and severance cost amounting INR 328Mn for Q2CY25 (Q2CY24: INR 424Mn) (3)Other Expenses includes acquisition related cost, specific provisions for customer and Impairment of customer contract associated with an earlier acquisition amounting INR 128Mn, INR 782Mn, INR 394Mn respectively for Q2CY25. For comparative purposes, Other Expenses for Q2CY24 includes Acquisition related cost and Provision for onerous vendor contracts related to lease agreement amounting INR 300Mn and INR 96Mn, respectively.
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8© 2025 Hexaware Technologies As of period ending In INR million Jun'25 Dec'24 Assets Property, plant and equipment and intangible assets 7,479 8,128 Right-of-use assets 5,515 5,596 Goodwill 23,910 23,871 Capital work-in-progress 1,592 1,308 Deferred tax assets (net) 2,767 2,682 Other non-current assets and other investments 2,418 2,338 Trade receivables and unbilled revenue 26,445 22,531 Other current assets 3,607 3,568 Cash and cash equivalents (inc. restricted) 19,248 19,923 Total Assets 92,981 89,945 Equity and Liabilities Equity 608 608 Other Equity and reserves 57,436 52,961 Non-controlling Interests (25) (23) Total Equity 58,019 53,546 Non-current liabilities 211 228 Deferred tax liabilities (net) 11 0 Lease liabilities 5,819 5,742 Trade payables 8,304 9,140 Other current liabilities 14,824 13,981 Deferred consideration 2,068 4,140 Provisions 3,725 3,168 Total Liabilities 34,962 36,399 Total Equity and Liabilities 92,981 89,945 Summary of Consolidated Balance Sheet
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9© 2025 Hexaware Technologies In INR million unless stated otherwise H1CY25 H1CY24 Profit before tax 9,046 7,374 D&A, ESOP cost, Finance cost & other items 1,774 1,412 Changes in working capital (4,811) (4,285) Taxes (1,444) (1,234) Net cash (used in) / generated from operating activities (OCF) 4,565 3,267 Capex (869) (635) Investment in MFs and Interest on Fixed Deposits 364 2,754 Payment towards acquisition of business (556) (8,184) Net cash used in investing activities (1,061) (6,065) Proceeds from issue of shares 0 0 Borrowings and lease payments (918) (687) Dividend paid (3,494) (2,580) Net cash used in financing activities (4,412) (3,267) Net cash flow (908) (6,065) Summary of Consolidated Cash Flow Statement
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10© 2025 Hexaware Technologies About Hexaware Technologies We are a global digital and technology services company with artificial intelligence (“AI”) at its core. We leverage technology to deliver innovative solutions that help our customers in their digital transformation journey and subsequent operations. We embed AI into every aspect of our solutions and have created a suite of platforms and tools that allow our customers to adapt, innovate and optimize in this AI-first era. We serve a diverse range of customers, including 31 of the Fortune 500 organizations. With a team of 32,410 employees in 28 countries, our presence is spread across major countries, nationalities, languages, time zones and regulatory zones. For more information, please visit https://hexaware.com/ Contact Investor Relations: Niraj Khemka, Head of Investor Relations Investorrelations@hexaware.com Registered Office: 152, Millennium Business Park, Sector III ‘A’ Block, TTC Industrial Area Mahape, Navi Mumbai - 400 710, Maharashtra, India CIN: L72900MH1992PLC069662 https://hexaware.com/ Disclaimer Use of Non-GAAP Financials Hexaware has included certain non-GAAP financial measures in this presentation to supplement Hexaware’s consolidated financial statements presented on a GAAP basis. These non -GAAP financial measures may have limitations as analytical tools, and these measures should not be considered in isolation or as a substitute for analysis of Hexaware’s results as reported under GAAP. The non-GAAP financial information that we provide also may differ from the non -GAAP information provided by other companies. We compensate for the limitations on our use of these non -GAAP financial measures by relying primarily on our GAAP financial statements and using non -GAAP financial measures only supplementally. We have provided reconciliations of non -GAAP earnings to the most directly comparable GAAP earnings, and we encourage investors to review those reconciliations carefully. We believe that providing these non-GAAP financial measures in addition to the related GAAP measures provides investors with greater transparency. We further believe that providing this information better enables investors to understand Hexaware’s operating performance and financial condition. Rounding off Certain amounts and percentage figures included in this presentation have been subject to rounding adjustments. Accordingly, figures shown as totals in certain tables may not be an arithmetic aggregation of the figures preceding them.