Hexaware Technologies Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2024
Auditor and Management Disclosures and Notes for the annual results dated 31 Dec 2024
1.These results have been prepared on the basis of the audited standalone financial statements for the year ended December 31, 2024 which are prepared in accordance with the Ind AS notified under the Companies (Indian Accounting Standards) Rules, 2015 and the audited condensed interim standalone financial statements for the nine months period ended September 30, 2024 which are prepared in accordance with Ind AS 34 (Interim Financial Reporting).The results have been prepared in terms of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.
2.(i) The figures for the quarter ended December 31, 2024 are balancing figure between the audited figures for the year ended December 31, 2024 and the audited year to date figures for the nine months ended September 30, 2024
(ii) The figures for the quarter ended December 31, 2023 are the balancing figures between the audited figures for the year ended December 31, 2023 and the audited year to date figures for the nine months ended September 30, 2023.
3.These results have been reviewed by the Audit Committee and have been approved for issue by the Board of Directors at its meeting held on March 06, 2025. The statutory auditors have expressed an unmodified audit opinion on these results.
4.The Company has completed an Initial Public Offer ("IPO") of 123,720,440 equity shares of face value of Re. 1 each aggregting to Rs 87,500 million as an offer for sale by selling shareholder. The equity shares of the Company were listed on National Stock Exchange of India Limited ("NSE") and BSE Limited ("BSE") from February 19, 2025.
5.On May 3, 2024, the company acquired 100% ownership interest of Softcrylic Technology Solutions India Pvt. Ltd (India) and Softcrylic LLC (USA) along with it's group company Softcrylic Inc. (Canada) for a purchase consideration of Rs. 12,314 Million which includes initial upfront cash consideration and contingent consideration.
Softcrylic is a premier data consulting firm headquartered in USA. Softcrylic has expertise in customer journeys and marketing technology and it would enable the Group to extend and customize the data journey beyond marketing into multiple lines of business.
6.During the year ended December 31, 2024,
(a) Hexaware Technologies LLC (Russia) was liquidated w.e.f February 21, 2024.
(b) Hexaware Technologies SL (Private) Limited (Sri Lanka) was incorporated w.e.f February 28, 2024.
(c) Hexaware Novelty Technologies Ltd (UAE) (70% ownership) was incorporated w.e.f August 13, 2024
(d) Hexaware Nevada, Inc (USA) was incorporated w.e.f September 11, 2024.
(e) Hexaware Information Technolgies SDN. BHD. (Malaysia) was incorporated w.e.f December 13, 2024.
7.During the quarter and year ended December 31, 2024, 74,100 and 727,086 equity shares of face value of Re. 1 each were issued on exercise of employee stock options respectively in accordance with the company's employee stock option
8.Other income includes: (Rupees in Million)
For the Quater ended For the year ended
December 31,2024 December 31,2024
Gain/(loss) due to Exchange rate difference (21) 33
9.Employee Benefit expenses includes Employee stock option compensation cost of Rs. -97 million for the quarter ended December 31, 2024 and Rs. 146 million for the year ended December 31, 2024 respectively.
10. Employee benefits expense includes: (Rupees in millions)
For the Quater ended For the year ended
December 31,2024 December 31,2024
12.Depreciation and amortisation expense includes: (Rupees in millions)
For the Quater ended For the year ended
December 31,2024 December 31,2024
Amortisation of intangible assets acquired in 2 10
business combination
Total 2 10
13. During the year ended December 31, 2024, Hexaware Global Limited’s ESOP plan was cancelled and was replaced by granting options of Hexaware Technologies Limited. The said grants will allow eligible employee to opt for one share of Hexaware Technologies Limited for each option held upon vesting which could be time based, performance based or event based. 20,838,300 options were outstanding as on December 31, 2024.
14.The results for the quarter and year ended December 31, 2024, are available on the BSE Limited website (URL: www.bseindia.com), the National Stock Exchange of India Limited website (URL:www.nseindia.com) and on the Company’s website (URL: www.hexaware.com/investor-relations)