Slide 1: Letter to stock exchanges: Investor Presentation for quarter ended March 31, 2025
HEXT/SE/2025/45 Date: April 28, 2025 To, The Manager The General Manager Listing Department Department of Corporate Services National Stock Exchange of India Limited BSE Limited Exchange Plaza, Bandra-Kurla Complex, Phiroze Jeejeebhoy Towers, Bandra (East), Mumbai - 400 051 Dalal Street, Mumbai - 40
Slide 2: Investor Presentation – Q1CY25
Investor Presentation – Q1CY25 April 2025 © 2025 Hexaware Technologies
Slide 3: Safe Harbor Statement / Forward-looking and Cautionary Statement / Disclaimer
Safe Harbor Statement / Forward-looking and Cautionary Statement / Disclaimer Certain statements in this presentation concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from th
Slide 4: Key Financial and Business Highlights
Key Financial and Business Highlights Financial Highlights Business Highlights Strategic Investments: Revenue: • Delivery footprint expansion in Dehradun and Hyderabad • Q1CY25: USD 371.5 Mn | INR 32,079 Mn • Client Experience Centre (CEC) in Jersey City and London o USD : (0.2%) QoQ; 12.4% YoY o IN
Slide 5: Diverse Presence Across Verticals and Geographies
Diverse Presence Across Verticals and Geographies Vertical Split (%) Geographic Split (%) 9% 6% 8% 30% 18% USD 371.5 USD 371.5 17% Mn Mn Q1CY25 Q1CY25 Revenue Revenue 76% 15% 21% Q1CY25 Q1CY25 Growth (%)(1) QoQ YoY Growth (%)(1) QoQ YoY Financial Services 5.0% 20.5% Americas 0.5% 18.3% Healthcare &
Slide 6: Diverse Clientele with Strong Partnerships
Diverse Clientele with Strong Partnerships Client Pyramid (# LTM) Revenue Contribution by Customer Group (LTM %) USD Mn(1) Q1CY24 Q1CY25 49.2% 49.7% 49.8% >$75 2 3 35.7% 35.8% 36.2% >$50 3 3 >$20 13 15 25.3% 25.7% 25.7% >$10 29 30 >$5 53 66 >$1 178 195 Top 5 customers Top 10 customers Top 20 custome
Slide 7: Winning Across Domains: Key Successful Deals
Winning Across Domains: Key Successful Deals An international institution Large Financial Institution Large Global Bank Large Legal Advisory Firm providing financial and based out of Europe technical assistance to developing countries Modernizing the Grants Finance and HR Application modernization a
Slide 8: Q1CY25 Financial Highlights
Q1CY25 Financial Highlights Revenue (USD Mn) Reported EBITDA (USD Mn) • Reported EBITDA 16.7%; +20.8% YoY 8.4% 18.5% 12.4% growth (+117 bps) YoY (%) QoQ (%) 5.3% (0.5%) (0.2%) Margin (%) 15.5% 16.3% 16.7% • Reported Net Profit 10.3% +14.0% YoY growth (+15 bps YoY) $372 $372 $61 $62 $51 • ERP impleme
Slide 9: Enhancing Operational Efficiency Through Revenue Optimization and Talent Management
Enhancing Operational Efficiency Through Revenue Optimization and Talent Management Revenue Mix – Onshore & Offshore (%)(1) Total Headcount (#) Onshore IT Services (%) Offshore IT Services (%) 31,870 32,536 32,309 31,564 30,135 43.4% 43.8% 43.6% 43.7% 45.6% 56.6% 56.2% 56.4% 56.3% 54.4% Q1CY24 Q2CY2
Slide 10: Cash Flow, ETR, and EPS Metrics
Cash Flow, ETR, and EPS Metrics DSO (Days) (1) LTM OCF / Adj. EBITDA – Adjusted Cash Conversion (%) DSO - Billed DSO - Unbilled 91.1% 81.0% 75 74.9% 74.5% 68 71 72 65 61.9% 28 29 32 36 27 40 42 40 38 39 Q1CY24 Q2CY24 Q3CY24 Q4CY24 Q1CY25 Q1CY24 Q2CY24 Q3CY24 Q4CY24 Q1CY25 Effective Tax Rate (%) Basi
Slide 11: CY25 Outlook
CY25 Outlook • Update on two GSEs: • Client 1, consolidation deal execution was delayed but has begun now • Client 2, sharp ramp-down accounting for ~1% of org revenue. However, this is one of the material new consolidation opportunities listed below. Downsides are behind and potential upsides are a
Slide 12: Appendix
Appendix
Slide 13: Reconciliation of Adj. EBITDA and Adj. Profit – Q1CY25
Reconciliation of Adj. EBITDA and Adj. Profit – Q1CY25 % of Revenue EBITDA Profit Q1CY25 Q4CY24 Q1CY25 Q4CY24 Reported Margin 16.7% 16.3% 10.3% 10.2% Add: ESOP compensation cost 0.4% 0.4% - - Add: ERP transformation cost(1) 0.6% 0.7% 0.6% 0.7% Add: Acquisition related costs(2) - 0.0% - 0.0% Less: Ot
Slide 14: Awards and Recognition
Awards and Recognition Hexaware Wins 2024 ISG Star of Hexaware Named a Leader in Hexaware Named a Leader in Excellence Universal (Global) Implementation Services for Core Managed Application Services— Hexaware Among the Top 50 Hexaware Wins 5 Awards at the Region Award with 86.7 CX Score Clouds and
Slide 15: Creating Meaningful Impact Beyond Business
Creating Meaningful Impact Beyond Business ESG and Sustainability Awards • Ecovadis Assessment: Hexaware is in the top 15% globally, awarded a silver medal with a score of 70, placing in the 92nd percentile worldwide • Net Zero Summit – UBS Forums 2024: Won the “Sustainable Organization of the Year
Slide 16: Thank You
Thank You Please direct all inquiries to Investorrelations@hexaware.com
Slide 17: Investor Factsheet – Q1CY25
Investor Factsheet – Q1CY25 April 2025 © 2025 Hexaware Technologies
Slide 18: Key Financial Metrics
Key Financial Metrics Quarterly Metrics Change In INR million unless stated otherwise Q1CY25 Q4CY24 Q1CY24 QoQ (%) YoY (%) Revenue (USD Mn) $371.5 $372.3 $330.6 (0.2%) 12.4% Revenue – Constant Currency (CC) (0.2%) 12.7% Revenue (INR Mn) 32,079 31,544 27,488 1.7% 16.7% Profitability Reported EBITDA 5
Slide 19: Key Revenue Metrics – Q1CY25 (INR)
Key Revenue Metrics – Q1CY25 Revenue by Vertical % of % of % of In INR million Q1CY25 Q4CY24* Q1CY24* Revenue Revenue Revenue Financial Services 9,786 30.5% 9,149 29.0% 7,829 28.5% Healthcare and Insurance 6,672 20.8% 6,645 21.1% 5,790 21.1% Manufacturing and Consumer 4,780 14.9% 4,681 14.8% 4,817 1
Slide 20: Key Revenue Metrics – Q1CY25 (USD)
Key Revenue Metrics – Q1CY25 Revenue by Vertical % of % of % of In USD million Q1CY25 Q4CY24* Q1CY24* Revenue Revenue Revenue Financial Services 113 30.5% 108 29.0% 94 28.5% Healthcare and Insurance 77 20.8% 78 21.0% 70 21.1% Manufacturing and Consumer 55 14.9% 55 14.8% 58 17.5% High Tech and Profes
Slide 21: Key Client and Operational Metrics
Key Client and Operational Metrics Customer Concentration(1) Q1CY25 Q4CY24 Q1CY24 Top 5 customers 25.7% 25.7% 25.3% Top 10 customers 36.2% 35.8% 35.7% Top 20 customers 49.8% 49.7% 49.2% Client Pyramid(2) Q1CY25 Q4CY24 Q1CY24 $75 million + 3 3 2 $50 million + 3 3 3 $20 million + 15 15 13 $10 million
Slide 22: Other Key Metrics
Other Key Metrics Days Sales Outstanding (DSO) # of Days Q1CY25 Q4CY24 Q1CY24 DSO - Billed 39 38 40 DSO - Unbilled 36 27 28 USD / INR Exchange Rate Q1CY25 Q4CY24 Q1CY24 Period Closing Rate 85.48 85.62 83.41 Period Average Rate 86.52 84.73 83.12 © 2025 Hexaware Technologies 6
Slide 23: Summary of Consolidated Statement of Profit and Loss
Summary of Consolidated Statement of Profit and Loss Change In INR million unless stated otherwise Q1CY25 Q4CY24 Q1CY24 QoQ (%) YoY (%) Revenue (USD Mn) 371.5 372.3 330.6 (0.2%) 12.4% Revenue – Constant Currency (0.2%) 12.7% Revenue (INR Mn) 32,079 31,544 27,488 1.7% 16.7% Other Income 44 236 105 (8
Slide 24: Summary of Consolidated Balance Sheet
Summary of Consolidated Balance Sheet As of period ending In INR million Mar'25 Dec'24 Assets Property, plant and equipment and intangible assets 7,848 8,128 Right-of-use assets 5,499 5,596 Goodwill 23,831 23,871 Capital work-in-progress 1,479 1,308 Deferred tax assets (net) 2,758 2,682 Other non-cu
Slide 25: Summary of Consolidated Cash Flow Statement
Summary of Consolidated Cash Flow Statement In INR million unless stated otherwise Q1CY25 Q1CY24 Profit before tax 4,363 3,578 D&A, ESOP cost, Finance cost & other items 1,241 587 Changes in working capital (5,162) (1,712) Taxes (549) (558) Net cash (used in) / generated from operating activities (O
Slide 26: About Hexaware Technologies, Disclaimer, Contact
About Hexaware Technologies We are a global digital and technology services company with artificial intelligence (“AI”) at its core. We leverage technology to deliver innovative solutions that help our customers in their digital transformation journey and subsequent operations. We embed AI into ever
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