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RATING

RECOMMENDATION

Neutral

Business Type

Emerging Leader

  • Hexaware Technologies Limited Unlisted Shares Essentials

Discover and get complete analysis on Hexaware Technologies Limited upcoming IPO unlisted shares - Management, Business Model, Financials, Growth, Valuations, Funding Rounds, News and latest updates.

ISIN

INE093A01033

Face Value

₹10.00

Total Share

30,03,30,455

Total Income

₹6,296.69 Cr

Profile After Tax

₹621.50 Cr

Promoter Holding

₹95.22 %

EPS

₹20.77

Book Value

₹3,001.00 Cr

Intrinsic Value

₹1,101.00

Sector

Information Technology

Sub-sector

IT Services & Consulting

Category

Delisted

Cashflow - Operations

₹1,437.65 Cr

Cashflow - Financing

-₹241.63 Cr

Hexaware Technologies Limited Growth

Compounded Sales Growth

  • 12.23%

    1 Year

  • 15.68%

    2 Year

  • 16.42%

    3 Year

Pro Only

Compounded Profit Growth

  • -3.10%

    1 Year

  • 3.21%

    2 Year

  • 7.56%

    3 Year

Pro Only

Return On Equity

  • 20.71%

    1 Year

  • 24.87%

    2 Year

  • 26.53%

    3 Year

Pro Only

About Hexaware Technologies Limited

Overview: 

  • Hexaware Technologies Limited, leading global provider of IT and consulting services, incorporated in 20th November of the year 1992 as a public limited Company. 
  • It is one of the fastest growing next- generation providers of IT and consulting services. It serves customers in over two dozen languages, in every major time and regulatory zones.
  • The company’s revenue from operations has been increased from INR 5,583 Cr. in 2019 to INR 6,262 Cr. in the year 2020, showcased a growth rate of 12.2%. 


Key client base:

  • Key client base of the company includes banking and finance sector, health and insurance sector, travel and transportation sector, hi-tech and professional services and manufacturing sector.
  • The countries that the company is serving in are India, Canada, Belgium, Argentina, Mexico, US, Poland, Russia, UK, Norway, Denmark, France, Estonia, Finland, Ireland, Germany, Latvia, Netherlands, South Africa, Spain, Sweden, Switzerland, Australia, China, Dubai, Hongkong, Japan, Philippines, Saudi Arabia, Singa-pore. 


Key facts:

  • It had a total of 37 offices in 2020 scattered all over the world with 19,833 employees.
  • It has recorded a total revenue of INR 6,297 Cr. and INR 1,081 Cr. of EBITDA in FY 20. 


Delisting :

  • The company received a proposal from the Promoter dated June 4, 2020, wherein the Promoter expressed its intention to make a voluntary delisting offer, to acquire all the Equity Shares that are held by the Public Shareholders; and consequently voluntarily delist the equity Shares from the stock exchanges, BSE Ltd and National Stock Exchange of India Limited. 
  • The main objective of the Delisting proposal was for the Promot-er to obtain full ownership of the Company which will in turn provide increased operational flexibility to support the compa-ny’s business. The delisting will also help in cost savings and al-low the management to dedicate more time to focus on compa-ny’s business. 
  • The letter of offer was sent to shareholders to tender the shares under reverse book building process. The promoters along with promoter group entity successfully acquired more than 90% shareholding of the company (including their existing holding in the company) at the discovered price of 475/-. After seeking final delisting approval from BSE and NSE, shares of the company were delisted w.e.f. November 9, 2020. The promoters sent exit offer document to residual public shareholders to tender their shares to Promoters at exit price of 475 till November 8, 2021.

  • Hexaware Technologies Limited Funding

  • Hexaware Technologies Limited Subsidiaries

  • Hexaware Technologies Inc.
  • Hexaware Technologies Mexico
  • Hexaware Technologies UK Limited
  • Hexaware Technologies Asia Pacific Pte Limited
  • Hexaware Technologies GmBH
  • Hexaware Technologies Canada Limited
  • Guangzhou Hexaware Information Technologies Company Limited (closed on 31st August 2020)
  • Hexaware Technologies LLC
  • Hexaware Technologies Saudi LLC
  • Hexaware Technologies Romania (subsidiary of Hexaware Technologies UK Limited.
  • Hexaware Technologies Hong Kong Limited
  • Hexaware Technologies Nordic AB
  • Hexaware Information Technologies (Shanghai) Company Limited
  • Mobiquity Inc (subsidiary of Hexaware Technologies Inc., acquired on 13 June 2019)
  • Mobiquity Velocity Solutions, Inc (subsidiary of Mobiquity Inc)
  • Mobiquity Velocity Cooperative UA ( subsidiary of Mobiquity Inc)
  • Mobiquity BV (subsidiary of Mobiquity Velocity Cooperative UA)
  • Morgan Clark  BV (subsidiary of Mobiquity Velocity Cooperative UA)
  • Mobiquity Softech  Private Limited (subsidiary of Hexaware Technologies Limited, acquired on 13 June 2019)
  • Montana Merger Sub Inc. (formed on 7 June 2019 as subsidiary of Hexaware Technologies Inc  and merged with  Mobiquity Inc on 13 June 2019)
  • Hexaware Technologies South Africa ( formed on 25  November 2019, subsidiary of Hexaware Technologies  UK Ltd.)


Associate

  • Experis Technology Solutions Pte. Ltd (20% ownership interest by Hexaware Technologies Asia Pacific Pte Limited) (up to 8 De-cember 2020)
  • Hexaware Technologies Limited Revenue Segmentation

  • Banking and Financial Services
  • Healthcare and Insurance Services
  • Hi Tech and Professional Services
  • Travel and Transportation
  • Manufacturing and Consumer
  • Hexaware Technologies Limited Industry Overview

Industry Statistics

Introduction

  • The IT industry accounted for 8% of India’s GDP in 2020 and expected to contribute 10% to India’s GDP by 2025.
  • The IT industry has also created significant demand in the Indian education sector, especially for engineering and computer science.
  • In India, IT and ITES industry is divided into four major segments – IT services, business process management (BPM), software products and engineering services, and hardware.


Market size: 

  • India is the leading sourcing destination across the world, ac-counting for approximately 55.0% market share of the INR 1,465 Cr.-1,831 Cr. global services sourcing business in 2019-20. 
  • Exports from the Indian IT industry are expected to in-crease by 1.9% to reach INR 10,98,732 Cr. in FY21. In 2020, the IT industry recorded 1,38,000 new hires.
  • The IT & BPM industry’s revenue is estimated at ~INR 14,20,706 Cr. in FY21, an increase of 2.3% YoY. The domes-tic revenue of the IT industry is estimated at INR 3,29,545 Cr. and export revenue is estimated at INR 10,98,484 Cr. in FY21.
  • Indian software product industry is expected to reach INR 7,32,113 Cr. by 2025.
  • The market is expected to reach ~ INR 51,247 Cr. by 2030 due to accelerated domestic demand for AI


Investment scenarios

  • The sector ranked 2nd in FDI inflows as per the data released by Department for Promotion of Industry and Internal Trade (DPIIT). 
  • Indian IT's core competencies and strengths have attracted significant investment from major countries. The computer software and hardware sector in India attracted cumulative foreign direct investment (FDI) inflows worth INR 4,57,681 Cr. between April 2000 and September 2020.

Hexaware Technologies Limited Awards & Achievements

  • Hexaware won gold award for website redesign at the 2020 MarCom Awards.
  • Company named leader in managed public cloud services – midmarket in the ISG Provider Lens™ Public Cloud – Solutions and Service Partners 2020 U.S. Quadrant Report.
  • Company won the ‘outsourcing innovation of the Year’ award at Asia Outsourcing Leadership Award 2020.
  • Hexaware named US leader, SAP S/4 HANA System Transfor-mation – Midmarket, in the ISG Provider Lens™ SAP HANA and Leonardo Ecosystem Partners 2020 Study.
  • Hexaware named leader, automation embracer archetypes, in the ISG Provider Lens™ Contact Center- Customer Experience Services study.
  • The company ranked 11th in NASSCOM Top 20 in the year 2005.
  • In 2011 Hexaware Technologies won its largest contract till date valued at INR 1822 Cr. In 2012 Hexaware Technologies bagged a multi-million-dollar multi-year contract in the financial sector domain in Europe.
  • Hexaware topped White lane’s IT Sourcing Study among the top service providers yet again and ranks No.1 in KPIs across cloud capability, account management quality, business understand-ing, and contractual flexibility.
  • Hexaware named a leader in AWS Consulting Services in the ISG Provider Lens™ –AWS – Ecosystem Partners 2020 – U.S. Quad-rant study
  • Hexaware named leader: Digital Customer Experience Services in the ISG Provider Lens™ Digital Business — Solutions and Ser-vice Partners 2020 US Quadrant study.
  • Hexaware named rising star, managed service provider (MSP) for Azure in the ISG Provider Lens™ Microsoft Ecosystem US Quadrant Study 2020.

Hexaware Technologies Limited Strengths

  • Total income of the company has been increased from INR 5,610 Cr. in FY 19 to INR 6,297 Cr. in FY 2020, showcased a growth rate of 12.2%.
  • Profit after tax of the company has been increasing from INR 499 Cr. to INR 622 Cr. with a CAGR of 7.6% from 2017 to 2020.
  • Cash flow from operations of the company has been increased from 2019 and showed a significant growth rate of approximately 141% in 2020, despite of covid-19 pandemic all over the world. It indicates that the company can generate sufficient positive cash flow to maintain and grow its operations.
  • Company’s asset turnover ratio is highest amongst its peers which indicate efficient utilization of assets in generating revenues.

Hexaware Technologies Limited Shortcomings

  • Company needs to look after the management of its working capital, the current ratio is lower when compared to other listed peers.

Hexaware Technologies Limited Opportunities

  • In budget 2021, the government has allocated Rs. 53,108 Cr. to the IT and telecom sector.
  • India is the topmost offshoring destination for IT companies across the world. Having proven its capabilities in delivering both on-shore and off-shore services to global clients, emerging technologies now offer an entire new gamut of opportunities for top IT firms in India.
  • For everything that changed in 2020, one thing that stayed the same was the importance of technology to business success. In fact, that importance grew as organizations had to quickly restructure their operations in order to support a remote workforce and improve   flexibility and resiliency.

Hexaware Technologies Limited Threats

  • Squeezing margins and profitability due to pandemic as new firms                                               may enter the industry.
  • The effect COVID-19 has had on business in the channel is undenia-ble, with roughly half of companies reporting some downside impact in the past year.
Hexaware Technologies Limited Rating

  • RECOMMENDATION

    Neutral

  • Hexaware Technologies Limited Detail Info

Industry Statistics

PUBLIC LIMITED

Registered In

India

last Updated

15/05/2020

Registered Date

20/11/1992

Stock Exchange Ticker

HEXAWARE

Reg Office: Mumbai Headquarters Building, No. 152, Millennium Business Park, “A” Block, TTC Industrial Area, Sector-3, Mahape

Website: https://hexaware.com/