Hexaware Technologies Ltd - Unlisted Shares
Fundamentals
- Current Price
- ₹520.95
- Market Cap
- ₹43,414.76 Cr
- ISIN
- INE093A01041
- Face Value
- ₹1
- P/E Ratio
- 43.63
- EPS
- ₹16.4
- P/B Ratio
- 9.37
- Book Value
- 76.39
- Debt / Equity Ratio
- 0
Key Financials
Profit & Loss
| Metric | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|
| Revenue from operations | 10,380.3 | 9,199.6 | 7,177.7 | 6,262.1 | 5,582.5 |
| Growth % | 12.83% | 28.17% | 14.62% | 12.17% | 0 |
| Operating Expense | 8,799.2 | 7,977.9 | 6,044.7 | 5,215.2 | 4,704.3 |
| Growth % | 10.29% | 31.98% | 15.11% | 11.63% | 0 |
| Operating Profit | 1,581.1 | 1,221.7 | 1,132.9 | 1,046.8 | 878.2 |
| Operating Profit Margin % | 15.23% | 13.28% | 15.78% | 16.14% | 15.73% |
| Other Income | 8.8 | 179.2 | 66.8 | 35.2 | 11.8 |
| Finance costs | 37.8 | 33.5 | 34.4 | 49.2 | 7.4 |
| Depreciation and amortization expense | 283.6 | 244.4 | 224.2 | 232.4 | 103.4 |
| Profit before Tax | 1268.5 | 1123.0 | 941.2 | 800.4 | 779.3 |
| Tax expense | 270.9 | 238.8 | 192.4 | 179.0 | 137.9 |
| Tax % | 21.36% | 21.26% | 21.78% | 24.28% | 17.76% |
| Profit after Tax | 997.6 | 884.2 | 748.8 | 621.5 | 641.3 |
| Growth % | 12.83% | 27.96% | 23.82% | -12.59% | 0 |
| PAT% | 9.61% | 9.61% | 10.43% | 9.92% | 11.49% |
| EPS | 16.4 | 14.55 | 12.3 | 10.25 | 10.6 |
Company Financials
| Metric | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|
| Equity Share Capital | 60.7 | 60.4 | 60.3 | 60.1 | 59.7 |
| Other Equity | 4,574.5 | 4,062.6 | 3,727.8 | 3,175.8 | 2,705.8 |
| Total Equity | 4,635.2 | 4,123.0 | 3,788.1 | 3,235.8 | 2,765.5 |
| Borrowings (secured) | 0 | 0 | 0 | 146.1 | 142.9 |
| Other NC Liabilities | 411.1 | 436.3 | 431.9 | 500.3 | 47.3 |
| Total NC liabilities | 411.1 | 436.3 | 431.9 | 646.4 | 190.3 |
| Borrowings (secured) | 0 | 82.7 | 0 | 43.8 | 0.1 |
| Other Current Liabilities | 2,156.5 | 1,869.6 | 1,453.9 | 1,211.6 | 1,212.9 |
| Total Current liabilities | 2,156.5 | 1,952.3 | 1,453.9 | 1,255.5 | 1,213.0 |
| Total Equity & Liabilities | 7,202.8 | 6,511.6 | 5,673.9 | 5,137.7 | 4,168.7 |
| Fixed Assets (incl. WIP) | 2,508.7 | 2,593.8 | 2,403.3 | 2,488.1 | 2,123.9 |
| Other Non Current Assets | 477.5 | 438.2 | 322.8 | 336.3 | 319.7 |
| Total NC Assets | 2,986.2 | 3,032.0 | 2,726.1 | 2,824.3 | 2,443.5 |
| Trade Receivables | 1,386.3 | 1,384.6 | 1,019.3 | 814.0 | 979.6 |
| Cash & cash equivalents | 1,773.4 | 1,291.6 | 1,178.7 | 1,011.4 | 231.6 |
| Other Current assets | 1,056.9 | 803.4 | 749.7 | 487.9 | 514.0 |
| Total Current Assets | 4,216.6 | 3,479.6 | 2,947.8 | 2,313.4 | 1,725.2 |
| Total Assets | 7,202.8 | 6,511.6 | 5,673.9 | 5,137.7 | 4,168.7 |
Shareholding Pattern
- CA Magnum Holdings (Parent Company of Hexaware Technologies Limited)
- 95.54%
- Others
- 4.46%
Strengths & Weaknesses
Strengths
- Growing Brand Value: According to Brand Finance, the world’s leading independent brand valuation firm, Hexaware's brand valuation increased by 66% from FY20 to FY23.
- Wide Range of Services Offered: Hexaware provides services like Application Transformation Management, Enterprise Solutions, Digital Assurance, Business Process Services (BPS), Infrastructure Management Services, Digital & Analytics, etc.
- High Operating Margin: The company has high operating margin, driven by higher revenue from offshore or nearshore delivery, which is more profitable than onsite delivery revenue.
- IPO News: Carlyle has brought together Kotak Mahindra Capital, Citi, and JP Morgan, alongside IIFL Capital and HSBC Securities, as it prepares its portfolio company, Hexaware Technologies, for an IPO. The aim is to raise approximately $1 billion (₹8,350 Cr) through the offering, targeting a valuation ranging between $5 billion and $6 billion (₹41,750 Cr to ₹50,100 Cr).
Weaknesses
- Employee Turnover: Hexaware suffers from a high employee turnover ratio, which makes it expensive to maintain current employees or recruit new ones.
- Increasing costs: The company is incurring more costs to build a strong new supply chain and logistics network. This new network will be expensive as it will compete with the upcoming AI models.
About Hexaware Technologies Ltd
Hexaware Technologies, an IT services company backed by the Carlyle Group. The company offers various services regarding applications, cybersecurity, generative AI, sustainability, etc. Hexaware has won numerous awards with CEO R Srikrishna Recognized at the Asian Business Leaders Conclave by The Economic Times. They have also recently acquired Softcrylic, a Minneapolis based data consulting firm.
Board of Directors
- Michael W. Bender - Non Executive Chairman
- R Srikrishna - CEO & Executive Director
- Sandra Horbach - Director
- Julius Genachowski - Director
- Lucia Soares - Director
- Neeraj Bharadwaj - Director
- Kapil Modi - Director
- Shawn Devilla - Director
- Milind Sarwate - Independent Director
- Joseph McLaren Quinlan - Independent Director
Senior Management
- R Srikrishna - CEO&ED
- Vinod Chandran - COO
- Vikash Kumar Jain - CFO
- Nidhi Alexander - CMO
- Nita Nambiar - CPO
- Uma Thomas - CRO
