Hexaware Technologies Limited has informed the Exchange about Transcript
HEXT · price
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Hexaware reported Q2 CY25 revenue growth of 8.6% year-on-year but only 1.1% sequentially, softer than expected due to delayed customer decision-making on four mega consolidation deals. Reported EBITDA margin stood at 17.2%, within the guided 17.1%-17.4% full-year range, with a 100 bps operational improvement (offshore mix up 110 bps, utilization at 83.7% vs 82.1%). The company took one-time charges of ~15 bps including a $9 million bad debt provision, $3.8 million restructuring, and $1.5 million in SMC acquisition diligence costs. The company completed the SMC acquisition in July, gaining Global Capability Centre (GCC) setup capabilities, expected to be EPS accretive from day one. Full-year growth guidance was lowered, but the $3 billion revenue ambition for CY29 remains unchanged. New wins were highlighted across RapidX legacy modernization (airline, large bank), Amaze cloud monetization, and Salesforce Agentforce implementations.
Near-term sentiment may be cautious due to lowered growth expectations and deal delays, but margin trajectory remains intact at the guided range. The SMC acquisition opens a new growth lane in the GCC setup market (1,700 GCCs expected to grow to 2,700 over 4-5 years), supporting long-term ambitions. Shareholders should watch for the resolution of delayed mega deals and execution of the restructuring program in Europe, which is expected to start delivering margin benefits from Q3-Q4 onwards.