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Hexaware Technologies Limited
(HEXT)
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Rating:73Outperform
Price Target:
₹558.00
▼(-22.07% Downside)
Action:Reiterated
Date:07/31/26
The score is primarily supported by strong financial quality (low leverage, strong ROE, and stable profitability), tempered by slowing growth and softer TTM cash-flow/margin momentum. Technicals are moderately positive short-to-mid term but still below the 200-day average, while valuation looks somewhat rich on P/E despite a supportive dividend yield.
Positive Factors
Conservative balance sheet
Low leverage gives Hexaware financial flexibility to sustain operations, invest in capabilities, and pursue growth without excessive balance-sheet strain. Strong returns on equity also indicate that the company is using shareholder capital efficiently, supporting durable fundamental quality.
Negative Factors
Slowing revenue growth
The recent deceleration in revenue growth indicates that Hexaware’s expansion is losing momentum after several years of material revenue gains. If sustained, slower growth could limit operating leverage, reduce opportunities to scale delivery investments, and make earnings progression more dependent on margin management.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low leverage gives Hexaware financial flexibility to sustain operations, invest in capabilities, and pursue growth without excessive balance-sheet strain. Strong returns on equity also indicate that the company is using shareholder capital efficiently, supporting durable fundamental quality.
Read all positive factors
Hexaware Technologies Limited (HEXT) vs. iShares MSCI India ETF (INDA)
Market Cap
₹336.03B
Dividend Yield2.59%
Average Volume (3M)157.03K
Price to Earnings (P/E)24.9
Beta (1Y)1.39
Revenue GrowthN/A
EPS GrowthN/A
CountryIN
Employees34,506
SectorGeneral
Sector StrengthN/A
IndustryInformation Technology Services
Share Statistics
EPS (TTM)22.06
Shares Outstanding611,016,000
10 Day Avg. Volume366,626
30 Day Avg. Volume157,031
Financial Highlights & Ratios
PEG Ratio2.10
Price to Book (P/B)7.37
Price to Sales (P/S)3.47
P/FCF Ratio29.24
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹500.00Price Target Upside-30.17% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering1
EPS Forecast (FY)23.66
Revenue Forecast (FY)₹154.14B
Hexaware Technologies Limited Business Overview & Revenue Model
Company Description
Hexaware Technologies Ltd. operates globally, delivering information technology (IT) advisory services, software development, and business process optimization. The company organizes its operations across key industry segments, including travel an...
How the Company Makes Money
Hexaware makes money primarily by selling IT and business process services to enterprise customers under contract. Its revenue model is predominantly services-based and typically includes: (1) Time-and-materials (T&M) billing, where clients pay fo...
Hexaware Technologies Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 144.20B | 134.30B | 119.74B | 103.80B | 92.00B | 71.78B |
| Gross Profit | 9.68B | 27.26B | 55.50B | 46.55B | 40.94B | 33.69B |
| EBITDA | 21.16B | 21.04B | 18.77B | 15.79B | 13.96B | 11.98B |
| Net Income | 13.44B | 13.69B | 11.76B | 9.98B | 8.84B | 7.49B |
Balance Sheet | ||||||
| Total Assets | 115.76B | 109.05B | 89.94B | 72.02B | 65.12B | 56.73B |
| Cash, Cash Equivalents and Short-Term Investments | 16.54B | 21.27B | 19.77B | 20.24B | 12.92B | 13.12B |
| Total Debt | 6.83B | 6.81B | 5.74B | 3.94B | 4.57B | 3.74B |
| Total Liabilities | 48.66B | 45.92B | 36.40B | 25.67B | 23.89B | 18.86B |
| Stockholders Equity | 67.12B | 63.16B | 53.57B | 46.35B | 41.23B | 37.88B |
Cash Flow | ||||||
| Free Cash Flow | 15.11B | 15.92B | 14.15B | 14.51B | 7.01B | 8.71B |
| Operating Cash Flow | 17.10B | 17.60B | 15.48B | 15.16B | 8.21B | 9.80B |
| Investing Cash Flow | -10.97B | -10.41B | -6.69B | -3.00B | -151.00M | -2.25B |
| Financing Cash Flow | -9.89B | -8.06B | -6.82B | -7.50B | -7.21B | -6.02B |
Hexaware Technologies Limited Technical Analysis
Positive
716.00
Price Trends
533.38
Positive
532.11
Positive
541.91
Positive
Market Momentum
-1.95
Negative
65.56
Neutral
73.68
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HEXT, the sentiment is Positive. The current price of 716 is above the 20-day moving average (MA) of 507.95, above the 50-day MA of 533.38, and above the 200-day MA of 541.91, indicating a bullish trend. The MACD of -1.95 indicates Negative momentum. The RSI at 65.56 is Neutral, neither overbought nor oversold. The STOCH value of 73.68 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:HEXT.
Hexaware Technologies Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ₹1.20T | 26.78 | ― | 2.67% | 13.87% | 10.72% | |
75 Outperform | ₹911.32B | 47.08 | ― | 0.31% | 25.39% | 25.32% | |
73 Outperform | ₹336.03B | 24.93 | ― | 2.59% | ― | ― | |
73 Outperform | ₹816.81B | 37.49 | ― | 0.65% | 34.67% | 65.26% | |
70 Outperform | ₹1.44T | 25.39 | ― | 3.47% | 10.95% | 12.97% | |
70 Neutral | ₹447.51B | 23.48 | ― | 2.65% | 13.69% | 9.34% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:HEXT
Hexaware Technologies Limited
549.95
-140.84
-20.39%
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Hexaware Technologies Limited Corporate Events
Hexaware Publishes Investor Presentation for 2026 AI Day Event
Aug 21, 2026
Hexaware Technologies has released an investor presentation for its Hexaware AI Day 2026 event held in Chennai, aimed at analysts and investors. The company has made the presentation accessible via a dedicated link and its corporate website, reinf...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.