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Swing Capital

Hexaware Technologies Ltd

NSE: HEXT BSE: 544362IT / Software

Hexaware Technologies Ltd (HEXT) is a IT / Software company listed on NSE: HEXT | BSE: 544362. With a market cap of ₹29,356 Cr and ROCE of 33.5%, ROE of 26.6%, it operates in the Indian IT / Software sector.

₹480
52W: ₹400 — ₹900
PE 30.8 · Book ₹53.3 · +801% vs book
Market Cap₹29,356 Cr
Stock P/E30.8Price to Earnings
ROCE33.5%Return on Capital
ROE26.6%Return on Equity
Div. Yield2.46%Face Value ₹1

Strengths

  • +Company has a good return on equity (ROE) track record: 3 Years ROE 26.2%
  • +Company has been maintaining a healthy dividend payout of 76.9%
  • +Company's median sales growth is 18.5% of last 10 years

Weaknesses

  • −Stock is trading at 9.03 times its book value

Shareholding Pattern

Promoters74.3%
FIIs4.2%
DIIs15.04%
Public6.18%
CategoryMar 2020Jun 2020Sep 2020Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters62.44%62.34%▼0.191.16%▲28.874.71%▼16.574.57%▼0.174.55%▼0.074.3%▼0.374.3%
FIIs16.82%14.03%▼2.82.94%▼11.110.59%▲7.79.76%▼0.88.31%▼1.48.15%▼0.24.2%▼4.0
DIIs12.86%13.12%▲0.30%▼13.19.06%▲9.19.87%▲0.811.13%▲1.311.31%▲0.215.04%▲3.7
Public7.88%10.51%▲2.65.9%▼4.65.65%▼0.35.61%▼0.05.99%▲0.45.97%▼0.06.18%▲0.2

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales1,2871,3681,5731,6611,6871,7641,8181,9471,8601,972
Expenses1,1161,0891,2951,3571,3731,4021,5601,5521,5331,624
Operating Profit171279278304314362258395327348
OPM %13%20%18%18%19%21%14%20%18%18%
Net Profit113203188196197239328271100214
EPS ₹3.776.753.13.233.243.945.394.441.643.5

AI Insights

Revenue Trend

TTM revenue at ₹7,597Cr, up 2.8% YoY. OPM at 17%.

Debt Position

Borrowings at ₹435Cr. Debt-to-equity ratio: 0.14x. Healthy balance sheet.

Capex Cycle

CWIP at ₹50Cr (5% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 15.04% (+2.69pp change). FIIs: 4.2% (-11.86pp change). Promoters hold 74.3%.

Margin & Efficiency

ROCE declining from 40% (Dec 2014) to 33% (Dec 2025). Working capital days: 9.

Valuation

PE 30.8x with 33.5% ROCE. Price is 801% above book value of ₹53.3. Dividend yield: 2.46%.

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