Slide 1: Exchange cover letter for investor presentation
HEXT/SE/2025/16 Date: March 07, 2025 To, The Manager The General Manager Lis ng Department Department of Corporate Services Na onal Stock Exchange of India Limited BSE Limited Exchange Plaza, Bandra-Kurla Complex, Phiroze Jeejeebhoy Towers, Bandra (East), Mumbai - 400 051 Dalal Street, Mumbai - 400
Slide 2: Investor Presentation – Q4CY24
Investor Presentation – Q4CY24 March 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 Revenue: Key People Metrics: • Closing Headcount: 32,309, Net added 4,017 in CY24 • Q4CY24: USD 372 Mn | INR 31,544 Mn o USD : (0.5%) QoQ; 18.5% YoY • Voluntary Attrition for IT(1): 10.8% o INR : +0.6% QoQ; +20.6% YoY • Q
Slide 5: Diverse Presence Across Verticals and Geographies
Diverse Presence Across Verticals and Geographies Vertical Split (%) Geographic Split (%) 8% 6% 9% 29% 18% USD 372 Mn USD 372 Mn 18% Q4CY24 Q4CY24 Revenue Revenue 21% 76% 15% Q4CY24 CY24 Q4CY24 CY24 Growth (%)(1) QoQ YoY YoY Growth (%)(1) QoQ YoY YoY Financial Services 3.5% 25.0% 19.1% Americas 2.3%
Slide 6: Diverse Clientele with Strong Partnerships
Diverse Clientele with Strong Partnerships Client Pyramid (# of Active Clients) Revenue Contribution by Customer Group (%) 48.7% 49.7% 48.4% USD Mn(1) CY23 CY24 >$75 2 3 36.6% 35.5% 35.8% >$50 3 3 11 15 26.5% 25.7% >$20 25.0% >$10 29 31 >$5 54 61 >$1 171 186 Top 5 customers Top 10 customers Top 20 c
Slide 7: Winning Across Domains: Key Successful Deals
Winning Across Domains: Key Successful Deals Large secondary mortgage provider in Major airline in the US Global supply chain management and logistics the US services company in the US Modernizing workflows and user interfaces by GenAI-based legacy modernization project using Infrastructure operatio
Slide 8: Q4CY24 Financial Highlights
Q4CY24 Financial Highlights Revenue (USD Mn) Reported EBITDA (USD Mn) • Reported EBITDA +48.0% YoY growth (325 bps) YoY (%) 5.1% 16.7% 18.5% • Reported Net Profit +64.5% YoY growth (285 QoQ (%) (2.0%) 6.3% (0.5%) Margin (%) 13.0% 16.0% 16.3% bps) $374 $372 $60 $61 • ERP implementation cost is the on
Slide 9: CY24 Financial Highlights
CY24 Financial Highlights Revenue (USD Mn) Reported EBITDA (USD Mn) • EBITDA +18.1% YoY growth (59 bps) • Net Profit +16.2% YoY growth (21 bps) YoY (%) 20.0% 7.8% 13.7% Margin (%) 15.2% 15.3% 15.9% $227 $192 $1,429 $177 $1,165 $1,256 CY22 CY23 CY24 CY22 CY23 CY24 Revenue (INR Mn) Reported Profit (US
Slide 10: 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 (%) 32,536 32,309 31,870 28,292 30,135 43.6% 43.4% 43.8% 43.6% 43.7% 56.4% 56.6% 56.2% 56.4% 56.3% Q4CY23 Q1CY2
Slide 11: 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 89.9% 91.1% 81.0% 72 74.9% 74.5% 68 71 67 65 18 29 32 28 27 49 42 40 40 38 Q4CY23 Q1CY24 Q2CY24 Q3CY24 Q4CY24 Q4CY23 Q1CY24 Q2CY24 Q3CY24 Q4CY24 Effective Tax Rate (%) Basi
Slide 12: CY25 View
CY25 View • Typical patterns in most years: o Q1 and Q4 are seasonally low quarters, and Q2 and Q3 have best sequential performance o YoY for quarter and FY are the best measure to account for seasonality o Q3 is the wage hike quarter • H2 CY24 YoY rates are elevated due to the weak performance in H
Slide 13: Appendix
Appendix
Slide 14: Reconciliation of Adj. EBITDA and Adj. Profit – Q4CY24 and CY24
Reconciliation of Adj. EBITDA and Adj. Profit – Q4CY24 and CY24 % of Revenue EBITDA Profit Q4CY24 CY24 Q4CY24 CY24 Reported Margin 16.3% 15.9% 10.2% 9.8% Add: ESOP compensation cost 0.4% 0.3% - - Add: Non-recurring employee benefits and severance costs - 0.4% - 0.4% Add: ERP transformation cost(1) 0
Slide 15: Awards and Recognition
Awards and Recognition Recognized among the World’s Top 25 Most Valuable IT Services Brands globally Brand Finance 25, 2025 report Named among the Best Tech Brands of 2024 by ET Edge for the second consecutive year Won Bronze Stevie Award at the 2024 American Business Awards Named AI Implementer of
Slide 16: 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 92 nd percentile worldwide • Net Zero Summit – UBS Forums 2024: Won the “Sustainable Organization of the Year
Slide 17: Thank You
Thank You Please direct all inquiries to Investorrelations@hexaware.com
Slide 18: Investor Factsheet – Q4CY24
Investor Factsheet – Q4CY24 March 2025 © 2025 Hexaware Technologies
Slide 19: Key Financial Metrics
Key Financial Metrics Quarterly Metrics Change In INR million unless stated otherwise Q4CY24 Q3CY24 Q4CY23 QoQ (%) YoY (%) Revenue (USD Mn) 372.3 374.2 314.1 (0.5%) 18.5% Revenue – Constant Currency (CC) - - - 0.2% 18.8% Revenue (INR Mn) 31,544 31,357 26,160 0.6% 20.6% Profitability Reported EBITDA
Slide 20: Key Financial Metrics (Cont'd)
Key Financial Metrics (Cont’d) Annual Metrics Change CY24 CY23 YoY (%) In INR million unless stated otherwise Revenue (USD Mn) 1,428.9 1,256.4 13.7% Revenue – Constant Currency (CC) - - 13.5% Revenue (INR Mn) 1,19,744 1,03,803 15.4% Profitability Reported EBITDA 19,051 15,899 19.8% Reported EBITDA M
Slide 21: Key Revenue Metrics – Q4CY24
Key Revenue Metrics – Q4CY24 Revenue by Vertical % of % of % of In INR million Q4CY24 Q3CY24 Q4CY23 Revenue Revenue Revenue Financial Services 9,182 29.1% 8,780 28.0% 7,221 27.6% Healthcare and Insurance 6,645 21.1% 6,729 21.5% 5,625 21.5% Manufacturing and Consumer 4,681 14.8% 4,972 15.9% 4,638 17.
Slide 22: Key Revenue Metrics – CY24
Key Revenue Metrics – CY24 Revenue by Vertical In INR million CY24 % of Revenue CY23 % of Revenue Financial Services 34,131 28.5% 28,264 27.2% Healthcare and Insurance 25,341 21.2% 22,516 21.7% Manufacturing and Consumer 19,650 16.4% 18,548 17.9% High Tech and Professional Services 20,672 17.3% 16,6
Slide 23: Key Revenue Metrics – Q4CY24
Key Revenue Metrics – Q4CY24 Revenue by Vertical % of % of % of In USD million Q4CY24 Q3CY24 Q4CY23 Revenue Revenue Revenue Financial Services 108 29.1% 105 28.0% 87 27.6% Healthcare and Insurance 78 21.0% 80 21.5% 68 21.5% Manufacturing and Consumer 55 14.8% 59 15.9% 56 17.7% High Tech and Professi
Slide 24: Key Revenue Metrics – CY24
Key Revenue Metrics – CY24 Revenue by Vertical In USD million CY24 % of Revenue CY23 % of Revenue Financial Services 407 28.5% 342 27.2% Healthcare and Insurance 302 21.2% 273 21.7% Manufacturing and Consumer 235 16.4% 225 17.9% High Tech and Professional Services 247 17.3% 201 16.0% Banking 123 8.6
Slide 25: Key Client and Operational Metrics
Key Client and Operational Metrics Customer Concentration(1) Q4CY24 Q3CY24 Q4CY23 CY24 CY23 Top 5 customers 25.7% 25.8% 25.0% 25.7% 25.0% Top 10 customers 35.8% 35.7% 35.5% 35.8% 35.5% Top 20 customers 49.7% 49.4% 48.7% 49.7% 48.7% Client Pyramid(2) Q4CY24 Q3CY24 Q4CY23 CY24 CY23 $75 million + 3 3 2
Slide 26: Other Key Metrics
Other Key Metrics Days Sales Outstanding (DSO) # of Days Q4CY24 Q3CY24 Q4CY23 CY24 CY23 DSO - Billed 38 40 49 39 49 DSO - Unbilled 27 32 18 29 18 USD / INR Exchange Rate Q4CY24 Q3CY24 Q4CY23 CY24 CY23 Period Closing Rate 85.62 83.80 83.21 85.62 83.21 Period Average Rate 84.73 83.80 83.29 83.77 82.61
Slide 27: Summary of Consolidated Statement of Profit and Loss
Summary of Consolidated Statement of Profit and Loss Change In INR million unless stated otherwise Q4CY24 Q3CY24 Q4CY23 QoQ (%) YoY (%) Revenue (USD Mn) 372.3 374.2 314.1 (0.5%) 18.5% Revenue – Constant Currency 0.2% 18.8% Revenue (INR Mn) 31,544 31,357 26,160 0.6% 20.6% Other Income 236 112 100 110
Slide 28: Summary of Consolidated Statement of Profit and Loss
Summary of Consolidated Statement of Profit and Loss In INR million unless stated otherwise CY24 CY23 YoY (%) Revenue (USD Mn) 1,428.9 1,256.4 13.7% Revenue – Constant Currency 13.5% Revenue (INR Mn) 119,744 103,803 15.4% Other Income 749 88 751.1% Total Income 120,493 103,891 16.0% (-) Employee Ben
Slide 29: Summary of Consolidated Balance Sheet
Summary of Consolidated Balance Sheet As of period ending In INR million Dec-24 Sep-24 Dec-23 Assets Property, plant and equipment and intangible 8,128 8,370 6,484 Right-of-use assets 5,596 5,038 3,761 Goodwill 23,871 23,366 14,290 Capital work-in-progress 1,308 1,106 552 Deferred tax assets (net) 2
Slide 30: Summary of Consolidated Cash Flow Statement
Summary of Consolidated Cash Flow Statement In INR million unless stated otherwise CY24 CY23 Profit before tax 15,603 12,685 D&A, ESOP cost, Finance cost & other items 3,627 3,827 Changes in working capital (628) 1,223 Taxes (3,122) (2,579) Cashflow from operation (OCF) 15,480 15,156 Capex (1,312) (
Slide 31: About Hexaware Technologies
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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