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Investor Presentation – Q4CY25 Feb 2026 © 2026 Hexaware Technologies
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2 © Hexaware Technologies. Confidential briefing. Certain statements in this presentation concerning our future growth prospects, litigations 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 ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on work visa, immigration, our ability to manage our international operations, the effect of current and any future tariffs, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, technological disruptions and innovations such as Generative AI, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies, products and platforms in which Hexaware has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies, the outcome of pending litigation, 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 statements. 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 the law. 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 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. Safe Harbor Statement / Forward-looking and Cautionary Statement / Disclaimer
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3© 2026 Hexaware Technologies Key Financial and Business Highlights Update on Growth accelerators: • Legacy Modernization • Launched a new vertical “Technology Products and Platforms (TPP) “ and will report on it going forward • AI strategy– Launched 3 new offerings during the quarter, will continue to launch new services with high velocity • First company to implement in production a global multi-lingual helpdesk on AI Recent Developments: • Hexaware recognized among the Top 25 IT Services Brands globally in the Brand Finance 2026 rankings for the second consecutive year • Amit Vij has joined as Chief Private Markets Officer Key People Metrics: • Closing Headcount: 33,844, Net added 1,535 in CY25 • Voluntary Attrition for IT(1): 11.0% • Q4CY25 Utilization Rate for IT(2): 80.8% Key Customer Metrics: • 2 customers have annual revenue USD 100Mn+ • Added 1 more customer in USD 50 Mn+ category : 4 in CY25 vs 3 in CY24 Business Highlights Notes: (1) 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. (2) 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. (3) EBITDA in USD terms (4) EPS excluding impact of new labor code for Q4CY25 is 6.15 and for CY25 is 23.88 (5) Excludes restricted cash balance (6) Exchange rate used 89.88 Revenue: • Q4CY25: USD 389 Mn | INR 34,782 Mn o USD : (1.5%) QoQ; +4.5% YoY o INR : (0.2%) QoQ; +10.3% YoY o Constant Currency : (1.4%) QoQ; +3.5% YoY • CY25: USD 1,537.4 Mn | INR 134,304 Mn o USD : +7.6% YoY o INR : +12.2% YoY o Constant Currency : +7.1% YoY Profitability: • EBITDA (3): o Q4CY25: 17.0% | -60 bps QoQ & +65 bps YoY in % terms | (4.8%) QoQ & +8.6% YoY in absolute terms o CY25: 17.1% | +122 bps YoY in % terms | +15.9% YoY in absolute terms • Basic EPS(4): o Q4CY25: INR 4.79 | (21.3%) QoQ & (8.8%) YoY o CY25: INR 22.51 | +16.2% YoY Financial Highlights Cash: • Closing cash balance as of 31st December 2025: USD 237 Mn (5)(6)
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4© 2026 Hexaware Technologies Winning Across Domains: Key Successful Deals One of the World’s largest Development Bank App Development and Cloud Modernization A leading technology services firm based in Asia Scale GCC Opportunity PE backed leading pharmacy benefit management company Product engineering and Platform Support A leading Global multi-line Insurer Tech Modernisation A Global Technology Giant Large Consolidation deal World’s largest casual dining company App Development, Digital ITO and M&A Playbook A major North American Pet Insurance Holding Company Full stack services Global CRO Building Agentic AI for many steps in Clinical Research
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5© 2026 Hexaware Technologies Q4CY25 Financial Highlights Revenue (USD Mn) Revenue (INR Mn) Reported EBITDA (USD Mn) Reported Profit (USD Mn) 18.5% 4.5%5.5% (0.5%) (1.5%)3.3% YoY (%) QoQ (%) Margin (%) 17.0%17.5%16.3% 20.6% 10.3%11.1% 0.6% (0.2%)6.8% YoY (%) QoQ (%) Margin (%) 8.4%10.6%10.2% $389 $395 $372 Q4CY25Q3CY25Q4CY24 34,782 34,836 31,544 Q4CY25Q3CY25Q4CY24 $66 $69 $61 Q4CY25Q3CY25Q4CY24 $33 $42 $38 Q4CY25Q3CY25Q4CY24 Reported EBITDA 17.0%; • +8.6% YoY growth • 65 bps expansion YoY
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6© 2026 Hexaware Technologies CY25 Financial Highlights Revenue (USD Mn) Revenue (INR Mn) Reported EBITDA (USD Mn) Reported Profit (USD Mn) 7.8% 7.6%13.7%YoY (%) 17.1%15.9%15.3%Margin (%) 12.8% 12.2%15.4%YoY (%) 10.2%9.8%9.6%Margin (%) $1,537 $1,429 $1,256 CY25CY24CY23 $263 $227 $192 CY25CY24CY23 1,34,304 1,19,744 1,03,803 CY25CY24CY23 $157 $140 $121 CY25CY24CY23 • EBITDA +15.9% YoY growth (122 bps) • Net Profit +12.1% YoY growth (41 bps)
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7© 2026 Hexaware Technologies Diverse Presence Across Verticals and Geographies Q4CY25 CY25 Growth (%)(1) QoQ YoY YoY Financial Services 0.0% 8.4% 14.0% Healthcare & Insurance (9.0%) 2.1% 7.2% Manufacturing & Consumer (0.7%) 15.0% 1.4% High Tech & Professional Services (4.5%) (15.3%) 0.9% Banking 11.1% 15.1% 7.9% Travel & Transportation 5.1% 10.8% 12.8% Q4CY25 CY25 Growth (%)(1) QoQ YoY YoY Americas (3.3%) 2.5% 9.5% Europe 1.1% 10.3% 3.2% Asia Pacific 14.9% 12.2% (1.3%) Note: (1) In USD terms Vertical Split (%) Geographic Split (%) IT - BPS Split(%) 88% 12% Q4CY25 Revenue Split Q4CY25 CY25 Growth (%)(1) QoQ YoY YoY IT Services & Others* (1.5%) 5.9% 8.3% BPS Services (0.8%) (5.0%) 2.9% * Depicts total of IT services and others as presented in the Financial Statements 30% 21%16% 15% 10% 8% 74% 19% 6%
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8© 2026 Hexaware Technologies Diverse Clientele with Strong Relationship Client Pyramid (# LTM) 192 >$75 >$50 >$20 >$10 >$5 >$1 3 3 15 3 31 61 186 CY24 4 16 32 65 CY25USD Mn(1) Revenue Contribution by Customer Group (%) Note: (1) Represents revenue earned from customers. 25.0% 35.5% 48.7% 25.7% 35.8% 49.7% 25.9% 36.4% 49.8% Top 5 customers Top 10 customers Top 20 customers CY23 CY24 CY25
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9© 2026 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 51.9%51.2%53.3%54.4%56.3% 48.1% 48.8% 46.7% 45.6% 43.7% Q4CY25Q3CY25Q2CY25Q1CY25Q4CY24 Onshore IT Services (%) Offshore IT Services (%) 11.0% 11.4% 11.1% 11.2% 10.8% Q4CY25Q3CY25Q2CY25Q1CY25Q4CY24 33,84433,59032,41031,56432,309 Q4CY25Q3CY25Q2CY25Q1CY25Q4CY24 80.8% 83.8% 83.7% 82.1% 81.6% Q4CY25Q3CY25Q2CY25Q1CY25Q4CY24
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10© 2026 Hexaware Technologies Cash Flow, ETR, and EPS Metrics DSO (Days) (1) LTM OCF / Adjusted EBITDA –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 EBITDA Cash conversion 75.6% 38 37 40 39 38 29 36 33 36 27 67 73 73 75 65 Q4CY25Q3CY25Q2CY25Q1CY25Q4CY24 DSO - Billed DSO - Unbilled 10.4% 25.5% 18.9% 25.0% 23.1% Q4CY25Q3CY25Q2CY25Q1CY25Q4CY24 4.79 6.09 6.25 5.38 5.25 Q4CY25Q3CY25Q2CY25Q1CY25Q4CY24 75.8% 77.3% 75.5% 61.9% 74.5% Q4CY25Q3CY25Q2CY25Q1CY25Q4CY24
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11© 2026 Hexaware Technologies Outlook Demand Environment • Demand environment improving. Decision making is better • Progressing well on deal wins and have won all deals that we expected to win in Q4 CY25 except one major consolidation deal which is WIP. The wins include another major consolidation deal for software engineering • AI will create many exciting new growth avenues but will also be dampener to the existing business. We continue to launch at least one major new service every quarter. We expect growth from these new services will eventually create net new positive growth for us What it means for CY 26 • Factoring all the above, we expect CY26 reported revenue growth to be better than CY25 growth of 7.6% • Our long-term core thesis of base growth in low teens and acceleration themes to get to mid to high teens remain intact. We have been through bad growth cycles in the past and have recovered quickly • CY26 can be better depending on the following - deal ramp ups, execution of the deals won in H2 CY25, and new wins in CY26 • CY26 Vertical Outlook: • Banking and H&I are expected to lead the growth for CY26 followed by FS and GTT • M&C is expected to be back to growth. Both M&C and HTPS (will be split as PS and TPP in CY26) is expected to grow however will trail company growth • Q1 is seasonally weak quarter, but we are going through an unusually weak patch due to a number of unrelated one offs Margin outlook : • We are changing our profit reporting to EBIT • CY26 EBIT Outlook of 13.0% - 14.0% • Q1 CY26 EBIT would be lower than Q4 CY25. Has higher seasonality impact driven by calendar • H2 EBIT is expected to be better than H1 CY26.Drop in H1 EBIT driven by large ramp ups including rebadging deals. We expect this to recover in H2
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Appendix
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13© 2026 Hexaware Technologies Normalized margin (adjusted for Q4 related one timers) EBITDA EBIT Q4CY25 CY25 Q4CY25 CY25 Reported Margin 17.0% 17.1% 13.4% 14.4% One-timer items related to current quarter: -1.6% -0.4% -0.6% -0.2% Expected Credit Loss 1.1% 0.3% 1.1% 0.3% Impairment of intangibles acquired in an earlier acquisition 3.7% 1.0% 3.7% 1.0% Write back of earnout payment of an earlier acquisition -6.4% -1.7% -6.4% -1.7% Accelerated amortization of RoU of certain offices leases on optimisation - - 0.9% 0.2% Normalized Margin (adjusted for Q4 related one timers) 15.4% 16.7% 12.8% 14.3% % of Revenue
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14© 2026 Hexaware Technologies Awards and Recognition Hexaware Recognized Among India’s Leading ESG Entities by DB for the Second Consecutive Year Hexaware Recognized Among India’s Leading ESG Entities by D&B for the Second Consecutive Year v Hexaware Won Gold Stevie for Fastest Growing Company of the Year at the 2025 American Business Awards® Hexaware Won 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 Named Best AI Engineering and Implementation Partner at the ET Making AI Work Awards 2025 Hexaware Named Best AI Engineering and Implementation Partner at the ET Making AI Work Awards 2025 Hexaware Ranked #1 in Service Delivery in the 2025 Whitelane Research IT Sourcing Study for UKI Hexaware Ranked #1 in Service Delivery in the 2025 Whitelane Research IT Sourcing Study for UK&I Hexaware Named Most Trusted Brand of the Nation at the Asian Business Leadership Conclave 2025 Hexaware Named Most Trusted Brand of the Nation at the Asian Business & Leadership Conclave 2025 Dun Bradstreet Helps Sales and Marketers Speed Path from Prospect to ... Hexaware Named a Leader in Intelligent CX (AI Analytics) in the ISG Provider Lens® Contact Center — Customer Experience Services 2025 Global Quadrant Report Hexaware Named a Leader in Intelligent CX (AI & Analytics) in the ISG Provider Lens® Contact Center — Customer Experience Services 2025 Global Quadrant Report Hexaware Named a Leader in Managed Services – Midmarket, in the ISG Provider Lens® Multi Public Cloud Services 2025 U.S. Quadrant Report Hexaware Named a Leader in Managed Services – Midmarket, in the ISG Provider Lens® Multi Public Cloud Services 2025 U.S. Quadrant Report Hexaware Named a Leader in GCC Enablement Services in the AIM PeMa Quadrant 2025 Hexaware Named a Leader in GCC Enablement Services in the AIM PeMa Quadrant 2025 Hexaware Named a Leader in Strategy and Consulting Services - Midsize in the ISG Provider Lens® Generative AI Services 2025 Global Quadrant Report Hexaware Named a Leader in Strategy and Consulting Services - Midsize in the ISG Provider Lens® Generative AI Services 2025 Global Quadrant Report Hexaware Named a Leader in Insurance ITO Services Specialist in the ISG Provider Lens® Insurance Services - Strategic Capabilities 2025 Global Quadrant Report Hexaware Named a Leader in Insurance ITO Services Specialist in the ISG Provider Lens® Insurance Services - Strategic Capabilities 2025 Global Quadrant Report Hexaware Named a Client Champion in the 2025 ISG Star of Excellence® Awards Hexaware Named a Client Champion in the 2025 ISG Star of Excellence® Awards Hexaware Named Among Best Tech Brands for the fourth consecutive year ET Now Hexaware Named Among Best Tech Brands for the fourth consecutive year ET Now *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. Hexaware Named Among ET Now’s Most Innovative Organizations 2025 Hexaware Named Among ET Now’s Most Innovative Organizations 2025 Hexaware Named a Leader in Managed End-user Technology Services - Mid Market in the ISG Provider Lens® Future of Work Services 2025 U.S. Quadrant Report Hexaware Named a Leader in Managed End-user Technology Services - Mid Market in the ISG Provider Lens® Future of Work Services 2025 U.S. Quadrant Report Hexaware Named a Leader in AWS Professional Services in the ISG Provider Lens® AWS Ecosystem Partners 2025 U.S. Quadrant Report Hexaware Named a Leader in AWS Professional Services in the ISG Provider Lens® AWS Ecosystem Partners 2025 U.S. Quadrant Report Hexaware Named a Leader in Consulting and Transformation Services – Midmarket, in the ISG Provider Lens® Multi Public Cloud Services 2025 U.S. Quadrant Report Hexaware Named a Leader in Consulting and Transformation Services – Midmarket, in the ISG Provider Lens® Multi Public Cloud Services 2025 U.S. Quadrant Report Hexaware Named a Leader in Data Science and AI Services — Midsize in the ISG Provider Lens® Advanced Analytics and AI Services – Large and Midsize 2025 U.S. Quadrant Report Hexaware Named a Leader in Data Science and AI Services — Midsize in the ISG Provider Lens® Advanced Analytics and AI Services – Large and Midsize 2025 U.S. Quadrant Report Hexaware Named a Leader in Data and Analytics Modernization Services — Midsize in the ISG Provider Lens® Advanced Analytics and AI Services – Large and Midsize 2025 U.S. Quadrant Report Hexaware Named a Leader in Data and Analytics Modernization Services — Midsize in the ISG Provider Lens® Advanced Analytics and AI Services – Large and Midsize 2025 U.S. Quadrant Report Hexaware Named a Leader in Artificial Intelligence for IT Operations in the ISG Provider Lens® Intelligent Automation Services 2025 U.S. Quadrant Report Hexaware Named a Leader in Artificial Intelligence for IT Operations in the ISG Provider Lens® Intelligent Automation Services 2025 U.S. Quadrant Report
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15© 2026 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 • Achieve Zero waste to landfill at owned facilities by 2025 • 83% usage of electricity from renewable sources in our owned facilities (Chennai, Pune & Nagpur campus, Buildings 1, 3, 152 & 157 at Mumbai) • 59% percent of the total energy consumed across all India locations was fed from green power • Achieved zero waste to landfill at owned facilitates in 2025 1,29,578 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 5% globally, awarded a Gold medal with a score of 82, placing us in the 98th percentile worldwide • S&P Global CSA: Got a score of 83/100 and 97th percentile, while industry avg is 34/100 • CDP assessment: Improved score for “Climate” & “Water Security” to “B” • Net Zero Summit – UBS Forums 2025: Won the “Sustainable Organization of the Year 2025” award • Earned 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) Goals Actual performance
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Thank You Please direct all inquiries to Investorrelations@hexaware.com