Harsha Engineers International Q2 FY26 Results: PAT at ₹82 Cr
06 Nov 2025
Hexaware Technologies Q2 FY26 financial results analysis with strategic acquisition of CyberSolve
₹ 675
-3.40% decreased today
07 Nov - 11:16 a.m.
Financial Performance Overview
Mumbai, India, November 06, 2025: Hexaware Technologies Limited, a leading global provider of IT solutions and services, announced its financial results for the quarter ended September 30, 2025 (Q2 FY26), delivering solid growth amid challenging macroeconomic conditions.
Key Financial Highlights (Q2 FY26 - Consolidated)
Revenue
₹34,836 Mn
+11.1% YoY
EBITDA
₹6,116 Mn
+21.8% YoY
PAT
₹3,699 Mn
+23.4% YoY
EPS
₹6.09
+22.3% YoY
EBITDA Margin
17.6%
+154 bps YoY
Headcount
33,590
+1,054 LTM
Quarterly Performance Comparison (Consolidated)
| Financial Metric | Q2 FY26 | Q2 FY25 | YoY Change | Performance |
|---|---|---|---|---|
| Revenue (₹ Mn) | 34,836 | 31,357 | +11.1% | Solid Growth |
| EBITDA (₹ Mn) | 6,116 | 5,023 | +21.8% | Strong |
| PAT (₹ Mn) | 3,699 | 2,997 | +23.4% | Excellent |
| EBITDA Margin | 17.6% | 16.0% | +154 bps | Improving |
Management Commentary
CEO Statement - R. Srikrishna
CFO Statement - Vikash Jain
"I am pleased to report an EBITDA of 17.5% for the quarter, reflecting a 30 bps improvement quarter-on-quarter, driven by disciplined operational efficiencies. Our strong cash generation continues, with OCF to EBITDA conversion at 80% on an LTM basis. We also welcome the CyberSolve team to the Hexaware family as we accelerate our strategic growth journey."
Strategic Acquisition: CyberSolve
CyberSolve Acquisition Details
Acquisition Value
$66M
Total Consideration
Upfront Payment
$34.5M
Initial Investment
Earnout
$31.5M
Performance Linked
Specialists
230+
IAM Experts
Implementations
650+
Global Projects
Tech Alliances
20+
Partnerships
🎯 Strategic Rationale
Standalone Performance
Standalone Financial Results (Q2 FY26)
Revenue
₹19,473 Mn
+17.3% YoY
PAT
₹2,706 Mn
+37.8% YoY
EPS
₹4.45
+37.8% YoY
Business Vertical Performance
Revenue by Vertical (YoY Growth)
| Business Vertical | Q2 FY26 Growth | Performance |
|---|---|---|
| Financial Services | +12.2% | Outstanding |
| Healthcare & Insurance | +9.4% | Strong |
| Manufacturing & Consumer | +8.0% | Solid |
| Banking | +9.9% | Strong |
| Travel & Transportation | -2.5% | Challenged |
| Hi-Tech & Professional Services | -10.1% | Weak |
Key Operational Metrics
Operational Performance Indicators
Headcount
33,590
+1,054 LTM
Voluntary Attrition
11.4%
Stable
Utilization Rate
83.8%
Efficient
DSO (Billed)
37 days
Healthy
Cash Conversion
79.6%
Strong
Cash & Equivalents
₹20,201 Cr
Robust
Key Client Wins
Significant Business Wins in Q2 FY26
Merger of Subsidiaries
Group Structure Simplification
🏢 Merger Plan Approved
Stock Performance & Key Metrics
Hexaware Technologies Stock Analysis
Market Cap
₹41,106 Cr
Current Price
₹675
52W High / Low
₹900 / ₹590
Stock P/E
30.9
Book Value
₹95.3
Dividend Yield
1.73%
ROCE
29.5%
ROE
23.3%
Face Value
₹1.00
EPS
₹23.0
Debt to Equity
0.10
Total Debt
₹582 Cr
About Hexaware Technologies Limited
Company Overview
Hexaware Technologies Limited is a global digital and technology services company with artificial intelligence at its core. The company leverages technology to deliver innovative solutions that help customers in their digital transformation journey and subsequent operations.
🎯 Business Highlights
Overall Performance Assessment: Hexaware Technologies delivered a solid Q2 FY26 performance with 11.1% YoY revenue growth and 23.4% PAT growth, demonstrating resilience in challenging macroeconomic conditions. The company's strategic acquisition of CyberSolve for USD 66 million strengthens its cybersecurity capabilities in the fast-growing Identity and Access Management market. With strong operational metrics including 83.8% utilization rate, 11.4% attrition, and robust cash position of ₹20,201 Cr, Hexaware is well-positioned for continued growth. The stock trades at a P/E of 30.9, reflecting premium valuation given the company's strong market position, diversified portfolio, and strategic focus on high-growth areas like cybersecurity and AI services.
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"We delivered solid growth in a difficult macro. More importantly, we continue to invest in our future on several dimensions. We acquired specialist capability in IAM through CyberSolve, created a new vertical in Technology, Products and Platforms with a talented new leader, and launched multiple new domain offerings in AI."