Q3CY26 Adjusted EBIT Margin at 13.8%, Increase of 17 bps QoQ

MUMBAI, India and ISELIN, N.J. and LONDON, Oct. 28, 2026 /PRNewswire/ -- Hexaware Technologies (NSE: HEXT), a global provider of IT solutions and services, today announced financial results for the third quarter of calendar year 2026 ended Sep 30, 2026.

Financial Summary and Highlights

                 
  USD Mn                          
   INR Mn


 Q3CY26  QoQ (%)   YoY (%)            Q3CY26 QoQ (%)      YoY (%)


 Revenue   411.9       1.6 %    4.3 %            39,331          2.3 %  12.9 %


 EBIT       50.2     (9.3 %) (13.5 %)             4,791        (8.5 %) (6.5 %)


 PAT        44.9      28.8 %    7.2 %             4,294         30.0 %  16.1 %


     Constant Currency Growth         Q3CY26




QoQ %                          YoY %



     Revenue                    1.7 % 4.5 %

Revenue:

Q3CY26: USD 411.9 Mn | INR 39,331 Mn
- USD: +1.6% QoQ and +4.3% YoY | INR: +2.3% QoQ and +12.9% YoY
- Constant Currency: +1.7% QoQ and +4.5% YoY

Profitability:

Adjusted EBIT⁽¹⁾:
- Q3CY26: 13.8% | +17 bps QoQ and (88 bps) YoY in % terms
- +2.9% QoQ and (1.9%) YoY in absolute terms
Basic EPS:
- Q3CY26: INR 7.06 | +30.5% QoQ and 15.9% YoY

Key Client Metrics

Added one customer in the USD 20Mn+ category (LTM basis), increasing the total to 17 (from 16 in the previous quarter)
Top 10 customer revenue concentration at 35.4% in Q3CY26 (LTM basis)

Key People Metrics

Closing Headcount: 35,887, QoQ net addition of 1,381 with 386 net addition in IT
Voluntary Attrition for IT⁽²⁾: 11.1%
Q3CY26 Utilization Rate for IT⁽³⁾: 84.9%

Other Key Metrics

DSO (Billed + Unbilled) at 77 in Q3CY26, of which Billed is 41
LTM Q3CY26 Operating Cash Flow (OCF) to Reported Profit % at 109.6%
Cash and Cash Equivalents Position as of Sep 30, 2026, is USD 199 Mn^{(4) (5)}

Leadership Speak

"I am delighted to join Hexaware at an exciting time for the company and our industry. What attracted me to Hexaware is its talented people, deep client relationships, and entrepreneurial culture. With AI creating new possibilities for enterprises across industries, I believe we have a tremendous opportunity to build on these strengths, deepen the impact we create for our clients, and shape the next phase of Hexaware's growth."
Vivek Jetley, CEO

"Q3 reflected continued progress across several key financial and operating metrics. Revenue grew sequentially, accompanied by a higher adjusted EBIT margin and strong cash conversion. Our focus now is to carry the momentum from our stronger businesses into broader growth while staying disciplined and investing in the capabilities that build lasting value."
Vikash Jain, CFO

Financial Performance

Revenue Performance by Vertical


 In USD Million                       Q3CY26     Q3CY26
                                   QoQ        YoY



 Financial Services                    3.0 %      2.4 %



 Healthcare and Insurance            (0.4 %)      6.3 %



 Manufacturing and Consumer            1.8 %      3.0 %



 Professional Services                 0.3 %      7.8 %



 Banking                               6.6 %     13.5 %



 Travel and Transportation           (3.5 %)    (8.5 %)



 Technology, Products & Platforms      7.2 %      9.7 %



 
            Total Revenue            1.6 %      4.3 %

Revenue Performance by Geography


 In USD Million                 Q3CY26     Q3CY26
                             QoQ        YoY



 Americas                        1.5 %      1.1 %



 Europe                          3.1 %     12.8 %



 Asia Pacific                  (1.6 %)     20.0 %


               Total Revenue      1.6 %      4.3 %

Key Wins

Selected by a smart home and property technology platform to deliver AI-native customer experiences
Partnered with a large US infrastructure provider for legacy modernization and an AI use case factory
Engaged by a leading Australian bank to enable data modernization
Engaged by a global pharmaceutical player for AI application and agentic development
Selected by a US biopharmaceutical company to lead its S/4HANA upgrade
Chosen by a Middle East-based bank to execute its Sitecore migration
Selected by a global data storage company to build end-to-end factory IT for its new production line
Chosen by a UK utility company to drive its modernization program

About Hexaware

We are a global digital and technology services company with artificial intelligence ("AI") at our core. We leverage technology to deliver innovative solutions that help our customers in their digital transformation journey and subsequent operations. We embed AI into every aspect of our solutions and have created a suite of platforms and tools that allow our customers to adapt, innovate, and optimize in this AI-first era. We serve a diverse range of customers, including 30+ Fortune 500 organizations. With a team of 35,887 employees in 30+ countries, our presence is spread across major countries, nationalities, languages, time zones, and regulatory zones. For more information, please visit https://hexaware.com/.

Forward-looking Statements

Certain statements in this press release concerning our future growth prospects, litigations are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on work visa ,immigration, our ability to manage our international operations, the effect of current and any future tariffs, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, technological disruptions and innovations such as Generative AI ,our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies' products and platforms in which Hexaware has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies, the outcome of pending litigation and unauthorized use of our intellectual property and general economic conditions affecting our industry. The Company may, from time to time, make additional written and oral forward statements. We do not undertake to update any forward statements that may be made from time to time by us or on our behalf unless required under the law.

Disclaimer

Use of Non-GAAP Financials

Hexaware has included certain non-GAAP financial measures in this Press release to supplement Hexaware's consolidated financial statements presented on a GAAP basis. These non-GAAP financial measures may have limitations as analytical tools, and these measures should not be considered in isolation or as a substitute for analysis of Hexaware's results as reported under GAAP. The non-GAAP financial information that we provide also may differ from the non-GAAP information provided by other companies. We compensate for the limitations on our use of these non-GAAP financial measures by relying primarily on our GAAP financial statements and using non-GAAP financial measures only supplementally. We believe that providing these non-GAAP financial measures in addition to the related GAAP measures provides investors with greater transparency. We further believe that providing this information better enables investors to understand Hexaware's operating performance and financial condition

Rounding Off

Certain amounts and percentage figures included in this Press Release have been subject to rounding adjustments. Accordingly, figures shown as totals in certain tables may not be an arithmetic aggregation of the figures preceding them

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/hexaware-reports-q3cy26-revenue-at-usd-411-9-mn-up-4-3-yoy-302922631.html

Images

Tags

More Like This

Hexaware Reports Q2CY26 Revenue at USD 405.4 Mn, Up 6.1% YoY

Hexaware Delivers Q3CY25 Revenue of USD 394.8 Mn, Up 5.5% YoY

Hexaware Reports Q1CY26 Revenue at USD 388.5 Mn, Up 4.6% YoY Q1CY26 EPS at INR 5.77, Increase of 7.2% YoY

Hexaware Delivers Solid Q2CY25 Revenue of USD 382.1 Mn, Up 8.6% YoY

Hexaware Delivers Strong Q1CY25 Revenue at $371.5 Mn Up 12.4% YoY

Hexaware Reports CY25 Revenue of USD 1,537.4 Mn, Marking 7.6% YoY Growth Q4CY25 Revenue at USD 389 Mn, Up 4.5% YoY, EBITDA Expands by 65 bps YoY

Hexaware Delivers Strong CY24 Performance with $1,429 Mn Revenue Up 13.7% YoY

Strong Q3 Performance: Sequential Revenue Growth of 0.6% in CC, Large Deal Wins of $4.8 billion