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HEXT · price
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Hexaware Technologies reported Q1 FY26 consolidated revenue of INR 36,130 million (USD 388.5 million), up 4.6% YoY in USD terms and 12.6% in INR terms due to rupee depreciation. Profit After Tax (PAT) grew 7.5% YoY to INR 3,516 million, while EPS stood at INR 5.77 per share, up 7.2% YoY. EBIT declined 5.1% YoY in USD terms to USD 50.4 million with margin compression of 133 basis points YoY to 13.0%. The company added 2 customers in the USD 10 million+ category (total 34) and maintained strong cash generation with OCF to PAT conversion at 125.1%. Board declared interim dividend of INR 8.50 per share. Statutory auditors BSR & Co. LLP issued an unmodified (clean) audit opinion on both standalone and consolidated results.
The company delivered steady revenue growth with PAT growth outpacing revenue growth in rupee terms. However, EBIT margin compression and sequential flat revenue growth (down 0.1% QoQ in USD) may raise concerns about profitability pressures. The strong cash conversion and dividend declaration are positives for shareholder returns.