HEXAWARE TECHNOLOGIES LIMITED DELISTED SHARE
Hexaware Technologies Limited was founded on 21 May 1990. and registered at the registrar of companies in Mumbai. Authorized equity share capital is Rs. 25,00,00,000 and the paid-up share capital of the company is Rs. 15,50,00,000. Company deals in information technology consulting, software development, and business process management services.
The Company’s main Products and Services are as under:-
The Company's shares were delisted from the BSE and the National Stock Exchange (NSE) effectively from November 09, 2020. The exit price offered was Rs. 475 per share and the exit window was opened from November 9, 2020, to November 8, 2021.
INCORPORATION DETAILS
CIN | |
Registration Date | 20 November 1992 |
Company Name | HEXAWARE TECHNOLOGIES LIMITED |
Email Address | Investori@hexaware.com |
Category/Sub-category of the Company | Company Limited by Shares/Non-Government Company |
Class of Company | Public Company |
Registration Number | 69662 |
Address of the Registered office & contact details | 152, Millennium Business Park, Sector 3rd 'A' Block, TTC Industrial Area Mahape, Navi Mumbai 400710 |
Address and Contact details of Registrar Transfer Agent | KFin Technologies Private Limited Unit: Hexaware Technologies Limited Karvy Selenium, Tower B, Plot 31-32, Gachibowli, Financial District, Hyderabad - 500 032 |
Listing Status | Unlisted |
PARTICULAR OF SUBSIDIARY COMPANIES
S. No. | Name of the Company | Subsidiary | % of shares held |
Hexaware Technologies Inc | Subsidiary | 100% | |
Hexaware Technologies GmbH, Germany | Subsidiary | 100% | |
Hexaware Technologies UK Limited | Subsidiary | 100% | |
Hexaware Technologies Asia Pacific Pte. Limited | Subsidiary | 100% | |
Hexaware Technologies Canada Limited | Subsidiary | 100% | |
Hexaware Technologies Mexico S de RL De CV | Subsidiary | 100% | |
Hexaware Technologies LLC | Subsidiary | 100% | |
Hexaware Technologies Romania SRL | Subsidiary | 100% | |
Hexaware Technologies Saudi LLC | Subsidiary | 100% | |
Hexaware Technologies Hong Kong Limited | Subsidiary | 100% | |
Hexaware Technologies Nordic AB | Subsidiary | 100% | |
Hexaware Information Technologies (Shanghai) Company | Subsidiary | 100% | |
Mobiquity Inc | Subsidiary | 100% | |
Mobiquity Velocity Solutions, Inc | Subsidiary | 100% | |
Mobiquity Cooperatief UA | Subsidiary | 100% | |
Mobiquity BV | Subsidiary | 100% | |
Morgan Clark BV | Subsidiary | 100% | |
Hexaware Technologies South Africa (PTY) Ltd | Subsidiary | 100% | |
Mobiquity Softech Private Limited | Subsidiary | 100% |
BOARD OF DIRECTORS
S. No. | Name of Directors | Category of Directors |
Mr. Michael W. Bender | Non Executive Chairman | |
Mr. R. Srikrishna | CEO & Executive Director | |
Ms. Sandra Horbach | Director | |
Mr. Patrick McCarter | Director | |
Mr. Julius Genachowski | Director | |
Ms. Lucia Soares | Director | |
Mr. Neeraj Bharadwaj | Director | |
Mr. Kapil Modi | Director | |
Mr. Milind Sarwate | Independent Director | |
Mr. Joseph McLaren Quinlan | Independent Director |
Principal Business Activities of the Company
S. No. | Name & Description of main products/services | NIC Code of the Product /service | % to total turnover of the company |
1 | Computer Programming, Consultancy, and Related Activities | 620 | 100% |
SHAREHOLDING PATTERN
(As on 31-03-2021)
S. No. | Shareholder’s Category | No. of Shares | % of total Shares of the company |
1. | Promoter and Promoters Group | 28,59,69,229 | 95.22% |
2. | Public | 1,43,61,226 | 4.78% |
| Total | 30,03,30,455 | 100.00% |
Industry Outlook
The Company turnover of US$ 380 million in new customer business in 2021, is easily an all-time high. Its revenues for the fiscal year 2021 were US$971.16 million, representing a 14.9 percent increase, and profits increased by 10.4%. Cloudify's pan-India campuses will be powered by solar and other renewable energy sources for 73% of their electricity.
During COVID, It continued to assist communities by funding ICU beds, equipment, medical oxygen concentrators, PPE kits, and other necessities.
The Company generated revenue of US$971 million USD, representing a 14.9% increase year on year. 5-year revenue CAGR in rupee terms was 16.2%. With the exception of Global Travel and Transportation, revenue growth was secular across all verticals.
PROFIT & LOSS STATEMENT OF HEXAWARE TECHNOLOGIES LIMITED (Rs. in Million)
(As of 31-03-2019 to 31-03-2021)
Particular | 2021 | 2020 | 2019 |
INCOME | |||
Revenue from operations | 71,776.52 | 62,620.80 | 55,825.18 |
Exchange rate difference (net) | 578.29 | 267.36 | 192.71 |
Other income | 90.24 | 78.73 | 89.38 |
TOTAL INCOME | 72,445.05 | 62,966.89 | 56,107.27 |
EXPENSES | |||
Employee benefits expense | 42,676.27 | 36,950.11 | 30,279.28 |
Finance costs | 343.60 | 492.35 | 74.02 |
Depreciation and amortization expense | 2,241.75 | 2,323.89 | 1,033.53 |
Operating and other expenses | 17,771.21 | 15,202.25 | 16,763.63 |
TOTAL EXPENSES | 63,032.83 | 54,968.60 | 48,150.46 |
PROFIT BEFORE SHARE IN PROFIT OF ASSOCIATE AND TAX | 9,412.22 | 7,998.29 | 7,956.81 |
Share in profit of associate (Net of tax) | - | 6.70 | 4.10 |
Exceptional item - Acquisition-related costs | - | - | 168.24 |
PROFIT BEFORE TAX | 9,412.22 | 8,004.99 | 7,792.67 |
Tax expense | |||
Current tax | 2,118.25 | 2,207.29 | 1,538.49 |
Deferred tax credit | (194.32) | (417.30) | (159.25) |
Total tax expense | 1,923.93 | 1,789.99 | 1,379.24 |
PROFIT FOR THE YEAR | 7,488.29 | 6,215.00 | 6,413.43 |
OTHER COMPREHENSIVE INCOME (OCI) | |||
Items that will not be reclassified subsequently to profit or loss | |||
Remeasurement of defined benefit plan | 158.57 | (133.87) | (181.96) |
Income tax relating to items that will not be reclassified to profit or loss | (28.84) | 48.08 | 34.13 |
Items that will be reclassified subsequently to profit or loss | |||
The net change in fair value of cash flow hedges | 387.89 | 102.95 | 201.63 |
Exchange differences in translating the financial statements of foreign operations | 163.34 | 348.90 | 277.99 |
Income tax relating to items that will be reclassified to profit or loss | (85.53) | (94.72) | 39.28 |
TOTAL OTHER COMPREHENSIVE INCOME / (LOSSES) | 595.43 | 271.34 | 371.07 |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 8,083.72 | 6,486.34 | 6,784.50 |
Earnings per equity share: | |||
Earnings per equity share (Basic) | 24.86 | 20.77 | 21.52 |
Earnings per equity share (Diluted) | 24.64 | 20.49 | 21.24 |
BALANCE SHEET OF HEXAWARE TECHNOLOGIES LIMITED (Rs. in Million)
(As of 31-03-2019 to 31-03-2021)
PARTICULARS | 2021 | 2020 | 2019 |
ASSETS | |||
Non-current assets | |||
Property, plant, and equipment | 5,993.25 | 6,214.99 | 6,068.90 |
Capital work-in-progress | 121.23 | 102.43 | 863.32 |
right-of-use assets | 3,969.50 | 4,327.61 | - |
Goodwill | 12,252.41 | 12,044.04 | 11,760.88 |
Other intangible assets | 1,696.82 | 2,191.48 | 2,545.64 |
Financial assets: | |||
Investments | 2.68 | 4.58 | 29.99 |
Loans - Security deposits | 420.95 | 400.16 | 412.00 |
Other financial assets | 275.64 | 295.48 | 113.37 |
Income tax assets (net) | 289.88 | 538.68 | 380.14 |
Deferred tax assets (net) | 2,104.37 | 1,926.77 | 1,437.20 |
Other non-current assets | 134.76 | 197.24 | 823.91 |
Total non-current assets | 27,261.49 | 28,243.46 | 24,435.35 |
Current assets | |||
Financial assets: | |||
Investments | 1,224.26 | - | - |
Trade receivables | 10,193.39 | 8,140.00 | 9,795.61 |
Unbilled receivables | 3,476.12 | 2,579.17 | 3,535.47 |
Cash and cash equivalents | 11,786.86 | 10,114.45 | 2,316.43 |
Other bank balances | 224.06 | 147.27 | 149.11 |
Loans - Security deposits | 5.28 | 39.91 | 7.66 |
Other financial assets | 557.80 | 266.42 | 244.20 |
Income tax assets (net) | 264.63 | 118.31 | 131.95 |
Other current assets | 1,745.17 | 1,728.25 | 1,071.62 |
Total current assets | 29,477.57 | 23,133.78 | 17,252.05 |
TOTAL ASSETS | 56,739.06 | 51,377.24 | 41,687.40 |
EQUITY AND LIABILITIES | |||
Equity | |||
Equity share capital | 603.23 | 600.66 | 596.77 |
Other equity | 37,277.81 | 31,757.83 | 27,057.86 |
Total equity | 37,881.04 | 32,358.49 | 27,654.63 |
Non-current liabilities | |||
Financial liabilities: | |||
Borrowings (secured) | - | 1,461.40 | 1,429.46 |
Lease liabilities | 3,244.05 | 3,571.78 | - |
Other financial liabilities | 2.95 | 41.82 | 44.82 |
Provisions | |||
Employee benefit obligations in respect of gratuity and others | 1,036.26 | 907.67 | 538.20 |
Other non-current liabilities | 35.27 | 481.23 | - |
Total non-current liabilities | 4,318.53 | 6,463.90 | 2,012.48 |
Current liabilities | |||
Financial liabilities: | |||
Borrowings (secured) | - | 438.42 | 1.27 |
Lease liabilities | 499.12 | 455.62 | - |
Trade payables: | |||
Dues of micro-enterprises and small enterprises | 40.17 | 6.23 | 13.34 |
Dues of other than micro-enterprises and small enterprises | 4,626.70 | 4,209.44 | 3,826.01 |
Other financial liabilities | 4,015.62 | 3,308.39 | 6,207.82 |
Other current liabilities | 2,861.32 | 1,727.25 | 955.93 |
Provisions: | |||
Employee benefit obligations in respect of compensated absences and others | 1,395.84 | 1,240.93 | 824.76 |
Income tax liabilities (net) | 1,100.72 | 1,168.57 | 191.16 |
Total current liabilities | 14,539.49 | 12,554.85 | 12,020.29 |
Total liabilities | 18,858.02 | 19,018.75 | 14,032.77 |
TOTAL EQUITY AND LIABILITIES | 56,739.06 | 51,377.24 | 41,687.40 |
DIVIDEND AND RETAINED EARNINGS
(As of 31-03-2019 to 31-03-2021)
Particulars | 2021 | 2020 | 2019 |
Dividend (Rs. in Million) | 4.5 | 7.5 | 8.5 |
Retained Earnings | 26,880.93 | 21,741.23 | 18,239.72 |
PERFORMANCE OF THE COMPANY
Revenue from operations increased from Rs. 62,620.80 million in FY 2020 to Rs. 71,776.52 million in FY 2021, showing a growth of 14.62% as compared to the previous financial year.
Finance Cost has decreased from Rs. 492.35 million in FY 2020 to Rs. 343.60 million in FY 2021 showing a decline of 30.21% as compared to the previous financial year.
In FY 2021, Company’s Net profit stood at Rs. 7,488.29 million, 20.48% higher than the Rs. 6,215.00 million net profit of FY 2020, as compared to the previous financial year.
The Current Ratio of the company as of 31st March 2021 was 2.02.
The debt to equity ratio of the company as of 31st March 2021 was 0.49.
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