Hexaware Technologies Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for HEXAWARE, BSE:532129 Hexaware Technologies Ltd.

Hexaware Technologies Ltd.

25 Apr 2019

First Light: Hexaware Technologies

Sell: Hexaware Technologies Ltd.

BOB Capital Markets Ltd.

Hexaware (HEXW) reported a softish operating performance in Q1CY19 with no respite on talent crunch issues. Attrition rose to 18.2% (+120bps QoQ/ 480bps YoY) and subcontracting expenses continued to weigh on margins. Management kept its CY19 guidance unchanged at 12-14% YoY revenue growth with stable operating margins. In our view, margin management remains an uphill task given supply constraints. We trim CY19-CY21 EPS estimates by 1-3%; on rolling valuations over to Mar'21, our target price holds at Rs 370....

Hexaware Technologies Ltd.

24 Apr 2019

Hexaware - 1QCY19 Result Update

Hexaware Technologies Ltd.

Reliance Securities

Hexaware Technologies Ltd.

24 Apr 2019

Q1CY19 Result Update - Watchful on margin trajectory

Sell: Hexaware Technologies Ltd.

Recommendation Target

Prabhudas Lilladhar

Hexaware's 1QCY19 results were broadly inline with our estimates. Hexaware Change in Estimates | Target | Reco has maintained its guidance of 12-14% organic revenue growth in CY19E, with...

Hexaware Technologies Ltd.

24 Apr 2019

Revenue traction intact, but lopsided

Neutral: Hexaware Technologies Ltd.

Target

Motilal Oswal

1QCY19 CC revenue grew 2.0% QoQ, in line with our estimate of +2.2%. GPM declined 140bp QoQ to 30.2%, a new low (120bp miss), led by higher sub-contracting costs. But 100bp cut in SGA helped contain EBITDA margin (excluding ESOP) miss to 50bp at 15.3% v/s estimate of 15.8%. PAT 24 April 2019 declined 12.2% QoQ to INR1,385m, below our estimate of INR1,441m (+16.8% QoQ) due to lower operational income and forex losses (-INR81m v/s our estimate of +INR14m). This was partially offset by lower ETR (18.4% v/s expectation of 20.5%).

Hexaware Technologies Ltd.

31 Jan 2019

Hexaware Technologies (4QCY18): IMS propels growth. Maintain BUY

Buy: Hexaware Technologies Ltd.

Target

HDFC Securities

Maintain BUY with TP of Rs 470, at 18x Dec-20E EPS. Hexawares 4Q was marked by strong deal bookings (highest-ever) and healthy revenue guidance, offset by operational roadblocks (margin, attrition). Revenue came at USD 176mn, 3.4/14.2% QoQ/YoY in CC terms. EBITDA% stood at 15.3%, -142bps QoQ on wage increase impact (-60bps), furlough impact (-60bps) and SG&A.; APAT was lower at Rs 1.23bn impacted by forex loss of Rs 0.25bn (vs. Rs 0.23bn forex gain in 3Q).

Hexaware Technologies Ltd.

31 Jan 2019

Q4CY18 Result Update - Weak performance; Margin Outlook a concern

Accumulate: Hexaware Technologies Ltd.

Target

Prabhudas Lilladhar

Hexaware delivered weak performance during Q4CY18 with miss on margins Change in Estimates | Target | Reco and PAT. Revenues came inline with our estimates. Management has given revenue (organic) growth guidance of 12-14% YoY for CY2019 which is inline...

Hexaware Technologies Ltd.

30 Jan 2019

Hexawares 3.4% qoq CC growth was higher than our expectations, largely driven by a ramp-...

Accumulate: Hexaware Technologies Ltd.

Recommendation Target

Emkay

Hexaware's 3.4% qoq CC growth was higher than our expectations, largely driven by a ramp-up in deals won in the previous quarters. Hexaware's revenue grew ~11.5% in CC terms in CY18 and it has guided for 12-14% CC organic growth for CY19. Improvement in revenue growth guidance (from 11-12% in CY18) is due to a bottomingout of client-specific issues and expected ramp-ups of deals won in H2CY18. However, challenges in its Enterprise Solutions service line (~10% of sales) still remain. largely due to wage hikes (60bps) and typical calendar seasonality in Q4CY18. Hexaware's margin-related commentary remained subdued as it expects margins similar to CY18 in CC terms despite an improvement in its growth outlook....

Hexaware Technologies Ltd.

25 Oct 2018

Hexaware Technologies (3QCY18): IMS-BPM-led growth. Maintain BUY

Buy: Hexaware Technologies Ltd.

Target

HDFC Securities

Maintain BUY with TP of Rs 560, at 22x Sep-20E EPS. Growth acceleration and >38% RoIC to support valuations. Hexaware posted lower than estimated revenue performance (furlough/ delayed ramp-up impact) and better operating performance (utilisation/offshore) in 3Q with continuity in IMS/BPM-led growth. Guidance cut to factor 3Q miss with revised rev guidance for CY18 at 11 to 12% YoY (12 to 13% earlier).

Hexaware Technologies Ltd.

25 Oct 2018

Hexaware-Result Update

Hold: Hexaware Technologies Ltd.

Recommendation Target

Reliance Securities

From operating metric perspective, RIMS business clocked a solid 8.3% QoQ growth on top of two successive quarters of double-digit sequential growth. Consistently maintaining a healthy performance, this business recorded 10% USD revenue CQGR over the past 8 quarters, clocking excellent average annualised growth of >46% over the same period. Analytics also grew by a healthy 9.2% QoQ, while BPO grew by 4.5% QoQ. Geographically, while Europe out-performed...

Hexaware Technologies Ltd.

21 Sep 2018

HEXAWARE TECH LTD

Sell: Hexaware Technologies Ltd.

Target

Geojit BNP Paribas

Driven by healthy 4.9% growth in volumes and strong growth in top-5 accounts, Hexaware posted 4.7% QoQ growth in consolidated revenue in CC terms in Q2CY18. Notwithstanding revenue and currency tailwinds, EBIT margin came in at disappointing 14% down by 10bps QoQ mainly impacted by lower utilisation and higher visa cost. Management raised its CY18 revenue and EPS growth guidance to 12-13% and 13-14%,...

Is Hexaware Technologies Ltd. worth buying?

153 Votes:

Buy 75.16%

Sell 15.03%

Hold 9.8%

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