Mumbai, May 07: Hexaware Technologies (NSE: HEXT), a global provider of IT solutions and services, today announced financial results for the first quarter of calendar year 2026 ended March 31, 2026.
Revenue:
- Q1CY26: USD 388.5 Mn | INR 36,130 Mn
- USD: (0.1%) QoQ and +4.6% YoY | INR: +3.9% QoQ and +12.6% YoY
- Constant Currency: (0.3%) QoQ and +3.2% YoY
Profitability:
EBIT (1):
- Q1CY26: 13.0% | (6 bps) QoQ and (133 bps) YoY in % terms
- (0.6%) QoQ and (5.1%) YoY in absolute terms
Basic EPS:
- Q1CY26: INR 5.77 | 20.5% QoQ and +7.2% YoY
Key Client Metrics
- Added two more customers in the USD 10Mn+ category (LTM basis), increasing the total to 34 from 32 in the previous quarter
- Top 10 customer revenue concentration at 35.9% in Q1CY26 (LTM basis)
Key People Metrics
- Closing Headcount: 33,798, QoQ net reduction of 46 with 124 net addition in IT
- Voluntary Attrition for IT(2): 11.1%
- Q1CY26 Utilization Rate for IT(3): 82.6%
Other Key Metrics
- DSO (Billed + Unbilled) at 75 in Q1CY26, of which Billed is 44
- LTM Q1CY26 Operating Cash Flow (OCF) to Reported Profit % at 125.1%
- Cash and Cash Equivalents Position as of Mar 31, 2026, is USD 220 Mn(4) (5)
Leadership Speak
” The most defensible moat in the AI world is trust in relationships with customers. Our customers trust us to be their AI transformation partner to bring the power of AI to all facets of their IT and business. This represents a significant growth opportunity, and we are well poised to accelerate growth through 2026.”
R. Srikrishna, CEO
“Q1 continued to reflect the strength and discipline of our financial engine. We had yet another quarter of strong cash generation, with industry leading LTM OCF to PAT conversion of 125%+. This healthy balance sheet and consistent cash flows enabled us to declare the first interim dividend of ₹8.5 per share, reinforcing our commitment to disciplined capital allocation and shareholder returns”
Vikash Jain, CFO
Key Wins
Won a digital ITO and cloud migration deal with a premier American audio equipment manufacturer
Secured the second phase of a consolidation deal with a large global bank
· Won a consolidation deal with a large European bank
· Secured a consolidation deal with a global professional services firm
· Selected by a US-based data storage company for AI-led fab optimization
· Selected by a leading digital workspace platform for Agentic Application Maintenance and Support (AMS)
· Selected by a top-tier American data center company for identity-led cybersecurity
· Secured an opportunity to scale GCC with a leading provider of wealth management and technology solutions
