Hexaware Board Approves Q3 Results, Appoints New Directors, and Approves Restructuring
Hexaware's Board approved Q3CY26 results with revenue at USD 411.9 Mn (+4.3% YoY) and Adjusted EBIT Margin at 13.8%. The Board appointed Arjun Shah and Gregory Michael Zeluck as Non-Executive Directors and approved restructuring including a slump sale and subsidiary mergers. Mr. Vivek Jetley's appointment as CEO was confirmed, and Mr. R Srikrishna ceased as CEO.
The announcement includes significant corporate actions such as board appointments, executive leadership changes, and strategic restructuring of subsidiaries, alongside financial results, which will have a material impact on the company's operations and strategic direction.
The company reported positive financial results with revenue growth and improved margins. Key management appointments and strategic restructuring initiatives suggest forward-looking management and potential for future growth.
Hexaware Technologies Limited announced the outcome of its Board Meeting held on October 28, 2026. The Board approved the unaudited standalone and consolidated financial results for the quarter and nine months ended September 30, 2026. A press release and the financial results will be published in newspapers and available on the company's website.
The Board also approved the appointment of Mr. Arjun Shah and Mr. Gregory Michael Zeluck as Additional Directors in the capacity of Non-Executive Non-Independent Directors, effective October 29, 2026, subject to shareholder approval. Both directors are part of the Promoter Group and are not debarred from holding directorships.
Concurrently, the Board accepted the resignations of Mr. Neeraj Bharadwaj and Mr. Julius Genachowski as Non-Executive Non-Independent Directors, effective October 28, 2026, due to other commitments. Mr. Girish Pai, Executive Vice President and Global Head - Data, also resigned from his Senior Management position, effective November 13, 2026.
In terms of corporate restructuring, the Board approved the slump sale of Tech SMC Square India Private Limited and the merger of Identity and Access Solutions Canada Inc. into Hexaware Technologies Canada Limited, and IT Glitterz LLC into Hexaware Technologies Inc., USA. Additionally, the incorporation of a wholly owned subsidiary in Mauritius with an initial investment of up to USD 1 Million was approved, and the voluntary liquidation of Mobiquity BV in the Netherlands was sanctioned.
The Board also approved the re-constitution of the Stakeholders Relationship Committee, Corporate Social Responsibility Committee, and Environmental, Social and Governance Committee. Furthermore, the appointment of Mr. Vivek Jetley as CEO, effective October 28, 2026, and the cessation of Mr. R Srikrishna as CEO & Executive Director, effective October 28, 2026, were noted. Lastly, the allotment of 13,00,000 equity shares at ₹382.5 per share to the Hexaware Employees Benefit Trust was approved.
Separately, Hexaware reported its Q3CY26 results, with revenue at USD 411.9 million (INR 39,331 million), a 4.3% year-on-year increase. The Adjusted EBIT Margin was 13.8%, an increase of 17 basis points quarter-on-quarter. Basic EPS was reported at ₹7.06, up 15.9% year-on-year. The company added one customer in the USD 20Mn+ category, bringing the total to 17. Closing headcount was 35,887, with a net addition of 1,381 employees quarter-on-quarter. Voluntary attrition for IT was 11.1%.
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Hexaware Technologies Limited filed this with the NSE as a statutory disclosure, categorised under board meeting. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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