Revenue from operations rose 12.6% to ₹3,613 crore from ₹3,208 crore a year earlier and increased 3.9% quarter-on-quarter. On a constant currency basis, revenue declined 0.3% quarter-on-quarter and increased 3.2% year-on-year.
EBIT (Earnings Before Interest and Taxes) margin for Q1CY26 stood at 13%, down 6 basis points sequentially and 133 basis points year-on-year. In absolute terms, EBIT declined 0.6% quarter-on-quarter and 5.1% year-on-year.
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Hexaware added two customers in the $10 million-plus category during the quarter, taking the total to 34 from 32 in the previous quarter. Revenue concentration from the top 10 customers stood at 35.9% on a trailing 12-month basis.
Closing headcount stood at 33,798 at the end of the quarter, with a net reduction of 46 employees quarter-on-quarter, while IT headcount saw a net addition of 124. Voluntary attrition in IT stood at 11.1%, while utilisation for IT employees was 82.6%.
Days’ sales outstanding, including billed and unbilled, stood at 75 days in Q1CY26, of which billed DSO was 44 days. Operating cash flow to reported profit on a trailing 12-month basis stood at 125.1%. Cash and cash equivalents as of March 31, 2026, stood at ₹1,878 crore.
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R. Srikrishna, CEO, said, “The most defensible moat in the AI world is trust in relationships with customers. Our customers trust us to be their AI transformation partner to bring the power of AI to all facets of their IT and
business. This represents a significant growth opportunity, and we are well poised to accelerate growth through 2026.”
Vikash Jain, CFO, said, “Q1 continued to reflect the strength and discipline of our financial engine. We had yet another quarter of strong cash generation, with industry-leading LTM OCF to PAT conversion of 125%+. This healthy balance sheet and consistent cash flows enabled us to declare the first interim dividend of ₹8.5 per share, reinforcing our commitment to disciplined capital allocation and shareholder returns.”
Hexaware Technologies said it is reiterating its CY26 baseline revenue growth outlook of 7.6%. The company stated that the outlook is supported by the ramp-up of previously won large deals and strong conversion from recent wins, which is expected to improve growth momentum through the year.
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On vertical performance, Banking, H&I, and M&C are expected to lead growth in CY26, followed by PS and FS. The T&T segment is expected to lag due to macro conditions.
On profitability, the company has reiterated its EBIT margin guidance of 13.0%–14.0%. It expects margins to improve through the year, particularly in H2, with an exit rate higher than CY26 levels.
Shares of Hexaware Technologies Ltd ended at ₹464.50, up by ₹12.35, or 2.73%, on the BSE.
