The quarter and the board decisions in numbers
| Item | Detail |
|---|
| Revenue, Q3CY26 | ₹3,933.10 crore (USD 411.9 million) |
|---|
| Reported profit, Q3CY26 | ₹429.40 crore; basic EPS ₹7.06 |
|---|
| Restructuring expenses | ₹59.70 crore in the quarter |
|---|
| Gain on contingent consideration | ₹166.30 crore in the quarter |
|---|
| Slump sale | Tech SMC Square India Private Limited to Tech SMC Squared (GCC) India Private Limited; completion expected by 30 Jun 2027 |
|---|
| Shares allotted to employee trust | 13,00,000 equity shares of ₹1 each at ₹382.5 per share |
|---|
| Mobiquity BV | Voluntary liquidation, subject to approvals |
|---|
| Interim dividend | ₹9.50 per share, declared 20 Oct 2026 |
|---|
Quarterly results and one-off items
Consolidated revenue for the quarter ended 30 Sep 2026 was ₹3,933.10 crore, up 12.9% YoY in INR terms, and reported EBIT was ₹479.10 crore. The consolidated statement also shows restructuring expenses of ₹59.70 crore and a gain of ₹166.30 crore on remeasurement of contingent consideration payable on acquisitions of businesses.
The company says the Netherlands restructuring plan includes voluntary separation of certain employees and closure of unused leased office space. It made a provision of ₹64.70 crore in the quarter and expects the plan to be substantially completed by the end of the second quarter of FY 2027.
Two directors resign and two are added to the board, subject to approval
Neeraj Bharadwaj and Julius Genachowski resigned as Non-Executive Non-Independent Directors with effect from close of business on 28 Oct 2026, citing other commitments and responsibilities. The board approved Arjun Shah and Gregory Michael Zeluck as Additional Directors in the same capacity from 29 Oct 2026, subject to shareholder approval.
Vivek Jetley was appointed CEO with effect from 28 Oct 2026, and R Srikrishna ceased to be CEO and Executive Director on the same date. Girish Pai, Executive Vice President and Global Head - Data, resigned effective close of business on 13 Nov 2026 to pursue other career opportunities.
The slump sale and the group mergers
The board approved a slump sale of Tech SMC Square India Private Limited from Hexaware Technologies Inc, USA, to Tech SMC Squared (GCC) India Private Limited, both subsidiaries of the company. The company gives the Tech SMC Square India turnover as ₹6.95 crore and net worth as ₹5.51 crore for the year ended 31 Dec 2025, and says the consideration will be set on a registered valuer's report.
The board also approved mergers of Identity and Access Solutions Canada Inc and IT Glitterz LLC into their parent subsidiaries, and the voluntary liquidation of Mobiquity BV. Mobiquity BV's turnover was ₹174.60 crore for the year ended 31 Dec 2025, which the filing puts at 1.3% of consolidated turnover.
What the board decisions mean for Hexaware Technologies' shareholders
The company says the slump sale will not change the shareholding pattern of the listed entity, and that the slump sale is expected to complete on or before 30 Jun 2027, subject to approvals. The 13,00,000 equity shares allotted to Hexaware Employees Benefit Trust at ₹382.5 each will be transferred to employees on exercise of options under the 2024 stock option plan.
The filing does not state the slump sale consideration, the financial effect of the Mobiquity BV liquidation, the further details of the Mauritius subsidiary with an initial investment of up to USD 1 million, or the outcome of the Natsoft and Updraft claim. The next dated steps are the Q3 earnings call on 29 Oct 2026 at 8:00 AM IST and shareholder approval of the two director appointments.
Reference: Original filing (PDF)
HEXTHexaware Technologies Ltd.
