Hexaware Technologies (HEXT) Q4 2024 earnings summary

Executive summary

• CY24 revenue reached INR 119,744 Mn, up 15.4% YoY in INR and 13.7% in USD; PAT rose 17.7% to INR 11,740 Mn.

• Adjusted EBITDA grew 23.2% to INR 20,765 Mn; adjusted margin improved 111 bps to 17.3%, supported by utilization, offshore mix and cost discipline.

• Growth spanned all verticals and geographies, with HTPS and Financial Services leading in USD terms; the AI-first strategy and Softcrylic acquisition expanded capabilities.

Financial highlights

• Revenue from operations increased 15.4% to INR 119,744 Mn; constant-currency growth was 13.5% and USD revenue growth was 13.7%.

• Reported EBITDA was INR 19,051 Mn, up 19.8%; adjusted EBITDA was INR 20,765 Mn, up 23.2% in INR and 21.5% in USD.

• PBT rose 23.0% to INR 15,603 Mn; PAT increased 17.7% to INR 11,740 Mn, with net profit margin at 9.8% versus 9.6%.

• Basic EPS was INR 19.37, up 17.7%; adjusted basic EPS, excluding exceptional items and related tax, was INR 22.67, up 21.4%.

• Operating cash flow was INR 15,480 Mn; cash and cash equivalents were INR 19,766 Mn versus INR 17,734 Mn, and DSO stood at 68 days.

Outlook and guidance

• Strategic priorities include scaling AI and automation, enhancing proprietary platforms, investing in partnerships and acquisitions, and expanding global delivery capabilities.

• Focus areas include deeper expertise in life sciences, banking and retail, broader delivery presence, and continued investment in talent, innovation hubs and partnerships.

• The outlook cites rising demand for AI, cybersecurity, cloud migration and digital transformation; no numerical revenue or margin target is stated in the cited outlook.