HEXT

OVERVALUED

Hexaware Technologies Limited

IT · NSE

55.4% vs fair value

52W Low

400

+27.5% from low

52W High

900

-43.3% from high

News sentiment
2 bull14 neu3 bear

Valuation Gauge

OVERVALUED-55.4% Margin of Safety
OVERVALUEDFAIRLY VALUEDUNDERVALUED

Current Price

₹510

Fair Value

₹328

Fair Value Analysis

₹328

Based on free cash flow projections and earnings growth potential for IT sector companies

Medium confidence

Cash Flow Analysis

50% weight

₹207

Growth Valuation

50% weight

₹450

Price vs Market

HEXT
Nifty 50

Shareholding Pattern

Stock Health Score

A

Financially Strong

9.1 / 10

Profitability

10/10

ROE of 22.3% is above the IT sector benchmark of 20% — strong returns

Debt & Leverage

10/10

D/E ratio of 0.1x is well within the IT sector norm of 0.8x — strong balance sheet

Valuation vs Peers

10/10

P/E of 21.2x trades at a 60% discount to IT sector median (53x) — attractively valued

Cash Flow

8/10

FCF margin of 11.7% — strong cash generation (₹1,572 Cr)

Earnings Growth

8/10

5yr EPS CAGR of 15.7% is in line with the IT sector average of 14.2%

Dividend

9/10

Dividend yield of 2.9% provides strong shareholder returns (benchmark: 1.5%)

Company Health Timeline

10-year financial health at a glance

FY17
FY18
FY19
FY20
FY21
FY22
FY23
FY24
FY25
FY26
Revenue Growth
OPM %
Net Profit
Free Cash Flow
ROE %
ROCE %
Debt / Equity
Interest Cov.
Health Score
100
100
100
83
100
100
100
100
100
100
Strong
Moderate
Weak
Poor
No data

Sentiment Trend — Last 30 Days

Historical Returns

Key Ratios & Growth

FCF Yield

2.8%

Free cash flow / market cap

Operating Cash Flow

₹1.7K Cr

TTM cash from operations

Key Financials

EPS (TTM)

₹22.9

P/E Ratio

21.2x

P/B Ratio

4.7x

ROE

22.3%

ROCE

24%

Debt / Equity

0.11x

Beta

Div Yield

2.8%

FCF (Cr)

₹1,572 Cr

Revenue (Cr)

₹13,430 Cr

EPS Growth 5Y

15.7%

Mkt Cap (Cr)

₹29,507 Cr

52W High

₹900

52W Low

₹400.2

Book Value/Share

₹103.2

Financial History

PeriodRevenueOp ProfitOPM%PATEPS
TTM₹13.8K Cr₹2.0K Cr14.0%₹1.4K Cr₹22.85
2025-12-31₹13.4K Cr₹1.9K Cr14.0%₹1.4K Cr₹22.41
2024-12-31₹12.0K Cr₹1.8K Cr15.0%₹1.2K Cr₹19.36
2023-12-31₹10.4K Cr₹1.6K Cr15.0%₹998 Cr₹33.22
2022-12-31₹9.2K Cr₹1.2K Cr13.0%₹884 Cr₹29.44
2021-12-31₹7.2K Cr₹1.1K Cr16.0%₹749 Cr₹24.93
2020-12-31₹6.3K Cr₹1.1K Cr17.0%₹622 Cr₹20.69
2019-12-31₹5.6K Cr₹881 Cr16.0%₹641 Cr₹21.49
2018-12-31₹4.6K Cr₹736 Cr16.0%₹583 Cr₹19.62
2017-12-31₹3.9K Cr₹656 Cr17.0%₹500 Cr₹16.83
2016-12-31₹3.5K Cr₹577 Cr16.0%₹419 Cr₹13.88
2015-12-31₹3.1K Cr₹545 Cr17.0%₹393 Cr₹13.04
2014-12-31₹2.6K Cr₹448 Cr17.0%₹320 Cr₹10.64

Compounded Growth Rates

Sales Growth

3Y+10.1%
5Y+14.0%
10Y+14.6%

Profit Growth

3Y+11.8%
5Y+13.2%
10Y+12.8%

EPS Growth

3Y-11.7%
5Y-1.7%
10Y+5.1%

Peer Comparison

IT
StockPriceFair ValueMoS%P/EROESignal

Dolat Algotech Limited

₹75.1₹541.9+86.2%11.220.4%UNDERVALUED

Ceinsys Tech Limited

₹907₹4,257.5+78.7%15.924.6%UNDERVALUED

Radhika Jeweltech Limited

₹58₹247.9+76.6%8.318.7%UNDERVALUED

Shilchar Technologies Limited

₹4,090₹14,370.8+71.5%2937.8%UNDERVALUED

Kellton Tech Solutions Limited

₹15.3₹50+69.5%8.712.7%UNDERVALUED

Onward Technologies Limited

₹260.7₹659.2+60.5%13.919.3%UNDERVALUED

Cigniti Technologies Limited

₹1,260.1₹2,957.1+57.4%11.526.8%UNDERVALUED

Ducon Infratechnologies Limited

₹3.4₹6.6+48.9%8.510.1%UNDERVALUED

Institutional Activity

Bulk deals, block deals, short selling & delivery volume — NSE data

Insider Trading

Community Pulse

Exchange Filings

BSE announcements · last 90 days

Loading filings…

Share this Stock

Download card · Share on WhatsApp

HEXT share card

Share on WhatsApp, Twitter, or any group — each share brings new users to Veritas Quant