Hexaware Technologies Share Price in Focus; Reported 18.5% YoY Revenue Growth in Q4 CY24

Hexaware Technologies announced its financial results for the fourth quarter of the calendar year 2024 ended December 31, 2024. 

Q4 CY24 Financial Results

The company reported a revenue of $372 million (₹31,544 million) in Q4 CY24, reflecting a 0.5% decline QoQ but an 18.5% increase YoY in USD terms. In INR terms, revenue grew 0.6% QoQ and 20.6% YoY. In constant currency, growth stood at 0.2% QoQ and 18.8% YoY. 

For the full year CY24, revenue reached $1,429 million (₹1,19,744 million), marking a 13.7% YoY increase in USD and 15.4% in INR.

The company’s reported EBITDA for Q4 CY24 stood at 16.3%, reflecting a 2.3% QoQ and 50.7% YoY growth in absolute terms. In percentage terms, EBITDA margin expanded by 28 bps QoQ and 326 bps YoY. 

For CY24, the EBITDA margin stood at 15.9%, with a 19.8% YoY growth in absolute terms and a 59 bps YoY expansion in margin.

Other Key Highlights

Hexaware stated that the company expanded its client base, adding one new customer in the $100 million+ revenue category and four customers in the $20 million+ segment, bringing the total to 15 in CY24, up from 11 in CY23. The company’s top 10 clients contributed 35.8% of total revenue.

The company paid its shareholders a dividend of ₹8.75 per share in CY24.

Commenting on the results, CFO Vikash Jain said, “CY24 performance underlines the resilience of our business model. We clocked strong revenue growth of 13.7% YoY for CY24 while expanding margins at the same time and delivering 18.1% operating margin growth YoY. Our razor-sharp focus on cash flow helped yield OCF to Adjusted EBITDA of 74%+.”

Conclusion

With steady revenue growth, improving margins, and client additions, Hexaware continues to solidify its position in the IT services sector.

On March 6, 2025, Hexaware Technologies share price (NSE: HEXT) opened at ₹809.95 and closed at ₹812.00, up by 1.37%. The stock price touched its day’s high at ₹827.90. 

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