Hexaware Q3CY26 Revenue up 4.3% YoY to USD 411.9 Mn; Board Approves Restructuring
Hexaware Technologies reported Q3CY26 revenue of USD 411.9 Mn, up 4.3% YoY. The board approved the appointment of Arjun Shah and Gregory Michael Zeluck as directors, and the resignation of Neeraj Bharadwaj and Julius Genachowski. Restructuring includes a slump sale and mergers of subsidiaries. The company also approved a new subsidiary in Mauritius.
The announcement includes significant corporate restructuring, key director appointments and resignations, and financial results, all of which can have a material impact on the company's operations and investor perception.
The company reported revenue growth, an increase in adjusted EBIT margin, and several strategic corporate actions including restructuring and new appointments, which are generally viewed positively.
Hexaware Technologies Limited announced its unaudited standalone and consolidated financial results for the quarter and nine months ended September 30, 2026.
The company reported Q3CY26 revenue of USD 411.9 million (INR 39,331 million), marking a 4.3% year-on-year increase and a 1.6% sequential increase in USD terms. In INR terms, revenue grew 12.9% year-on-year and 2.3% sequentially. Adjusted EBIT margin stood at 13.8% for Q3CY26, an increase of 17 basis points quarter-on-quarter.
The Board of Directors approved the appointment of Mr. Arjun Shah and Mr. Gregory Michael Zeluck as Additional Directors (Non-Executive Non-Independent) effective October 29, 2026, subject to shareholder approval. Concurrently, Mr. Neeraj Bharadwaj and Mr. Julius Genachowski resigned as Non-Executive Non-Independent Directors, effective October 28, 2026.
In a significant restructuring move, 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, all as part of entity rationalization. Additionally, the company approved the incorporation of a wholly owned subsidiary in Mauritius with an initial investment of up to USD 1 million and the voluntary liquidation of its step-down subsidiary, Mobiquity BV, in the Netherlands.
Mr. Girish Pai resigned as Executive Vice President and Global Head - Data, effective November 13, 2026. The Board also approved the re-constitution of the Stakeholders Relationship Committee, Corporate Social Responsibility Committee, and Environmental, Social and Governance Committee.
Furthermore, the company approved the allotment of 13,00,000 equity shares at an issue price of ₹382.5 per share to the Hexaware Employees Benefit Trust. Mr. Vivek Jetley's appointment as CEO, effective October 28, 2026, was noted, along with the cessation of Mr. R Srikrishna as CEO & Executive Director on the same date.
The company will host its Q3 financial earnings conference call for CY2026 on October 29, 2026, at 8:00 AM IST.
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