Hexaware Technologies (HEXT) Q4 24/25 earnings summary

Executive summary

• Q4CY24 revenue reached USD 372.3 million, up 18.5% YoY, with full-year revenue at USD 1,429 million, up 13.7% YoY; EBITDA margin expanded to 16.3% in Q4 and 15.9% for the year.

• Basic EPS for Q4CY24 was INR 5.25, up 65.1% YoY; full-year EPS at INR 19.37, up 17.8% YoY; closing cash position just under INR 2,000 crore.

• Net headcount grew by 4,017 in 2024, reaching 32,309 employees; voluntary attrition rate dropped to 10.8%.

• Completed a successful IPO in February 2025 and acquired Softcrylic group in May 2024, expanding data consulting capabilities.

• Recognized among the World's Top 25 Most Valuable IT Services Brands and ranked first in general satisfaction in Europe.

Financial highlights

• Q4CY24 reported EBITDA was INR 5,140 million (16.3% margin), up 50.7% YoY; full-year EBITDA was INR 19,051 million (15.9% margin), up 19.8% YoY.

• Q4CY24 PAT at INR 3,207M, up 66.3% YoY; full-year PAT at INR 11,740M, up 17.7% YoY.

• OCF to EBITDA at 81% (reported), with DSOs at 65 days; OCF to adjusted EBITDA at 74.5%.

• Dividend payout at 45% of profit, INR 8.75 per share; total dividend payout for CY24 was INR 5,314M.

• Cash and cash equivalents at year-end INR 19,766M.

Outlook and guidance

• No formal guidance for 2025, but performance expected to be resilient to modest macro changes, with growth ramp-ups in H2 and Q3 from already-won deals.

• Double-digit growth seen as a solid baseline, with ambition to outperform previous years.

• ERP implementation is the only remaining one-off cost, expected to end after Q2 2025.

• Management focus on client-centricity, talent, and platform-driven growth for CY25.