Hexaware Technologies Ltd is a leading global digital and technology services company with a strong focus on AI-driven solutions, cloud transformation, automation, and enterprise IT services. Headquartered in Navi Mumbai, the company serves clients across the BFSI, healthcare, manufacturing, and retail sectors in North America, Europe, and APAC. With a debt-free balance sheet, consistent profitability, and strategic emphasis on AI and automation, Hexaware remains a compelling mid-cap IT stock for long-term investors. This article provides a fact-based outlook and realistic share price targets for each year from 2026 to 2030.
Hexaware Technologies: Company Overview
- Incorporated: 1992
- Business: Provides end-to-end digital transformation, AI/ML, cloud, data analytics, and application services
- Key Clients: Includes Fortune 500 companies in BFSI, healthcare, and retail
- Ownership: Promoter holding at 74.3% – tightly controlled by TA Associates (private equity)
- Listed: Yes – on BSE (532835) and NSE (HEXAWARE)
Clarifications:
- What is the IPO price? Hexaware was listed via offer-for-sale in 2001; exact IPO price isn’t publicly emphasized, but it listed at ~₹40–50 (split-adjusted).
- Revenue in 2025: ₹13,430 Cr (FY25 consolidated revenue, up 12% YoY)
- Future outlook: Strong—driven by AI adoption, cloud migration, and cost optimization demand from global enterprises.
- Is it debt-free? Yes – ₹0 Cr debt with ₹787 Cr cash.
- 2030 share price target? Realistic range: ₹1,100–₹1,400 (see detailed breakdown below).
Hexaware Technologies: Key Financial Snapshot
| Metric | Value |
|---|---|
| Market Capitalization | ₹39,199.73 Cr |
| Current Share Price | ₹642 |
| 52-Week High / Low | ₹900 / ₹590 |
| P/E (TTM) | 50.28 |
| P/B (TTM) | 12.03 |
| Book Value (TTM) | ₹53.34 |
| EPS (TTM) | ₹12.76 |
| ROE | 26.49% |
| ROCE | 36.20% |
| Dividend Yield | 0% |
| Debt | ₹0 Cr (debt-free) |
| Cash Reserves | ₹786.90 Cr |
| Sales Growth (YoY) | 26.16% |
| Profit Growth (YoY) | 7.84% |
Shareholding Pattern
| Category | Holding (%) |
|---|---|
| Promoters | 74.30% |
| Domestic Institutions (DII) | 11.31% |
| Foreign Institutions (FII) | 8.15% |
| Public (Retail) | 6.23% |
| Others | 0% |
Note: High promoter control ensures strategic stability.
Hexaware Share Price Target Forecast (2026–2030)
Based on strong ROCE, AI-led service expansion, and global IT spending recovery, we project the following realistic price ranges:
| Year | Target Price Range (₹) |
|---|---|
| 2026 | ₹680 – ₹760 |
| 2027 | ₹730 – ₹830 |
| 2028 | ₹780 – ₹910 |
| 2029 | ₹840 – ₹990 |
| 2030 | ₹900 – ₹1,080 |
These targets assume:
- EPS CAGR of 12–14% (supported by 26% sales growth, though profit growth lags)
- P/E compression from 50x to 35–40x by 2030 (in line with quality IT peers)
- Sustained ROCE >30% and zero debt
⚠️ Note: Some speculative sources cite targets above ₹1,500 by 2030, but these lack fundamental backing. Our estimates are grounded in earnings sustainability and sector multiples.
Year-wise Breakdown
Hexaware Share Price Target 2026
| Year | Target 1 | Target 2 |
|---|---|---|
| 2026 | ₹680 | ₹760 |
- Rationale: Near-term upside depends on Q4 FY26 deal pipeline and AI platform monetization. Current P/E of 50x limits aggressive re-rating.
Hexaware Share Price Target 2027
| Year | Target 1 | Target 2 |
|---|---|---|
| 2027 | ₹730 | ₹830 |
- Rationale: Expected benefit from GenAI contracts and the cloud modernization wave. Operating margin (~14%) may improve with scale.
Hexaware Share Price Target 2028
| Year | Target 1 | Target 2 |
|---|---|---|
| 2028 | ₹780 | ₹910 |
- Rationale: By 2028, automation-led efficiency could boost margins. High ROCE (36%) supports premium valuation.
Hexaware Share Price Target 2029
| Year | Target 1 | Target 2 |
|---|---|---|
| 2029 | ₹840 | ₹990 |
- Rationale: Long-term play on global digital transformation. Client diversification reduces concentration risk.
Hexaware Share Price Target 2030
| Year | Target 1 | Target 2 |
|---|---|---|
| 2030 | ₹900 | ₹1,080 |
- Rationale: The upper end assumes sustained 15%+ EPS growth, ROE >25%, and dividend initiation. Even at ₹1,080, P/E would be ~40x—reasonable for quality.
Strengths vs Risks
✅ Strengths
- Zero debt and strong cash position
- Exceptional ROCE (36.2%) and ROE (26.5%)
- AI and automation focus aligns with global tech trends
- High promoter skin-in-the-game (74.3%)
⚠️ Risks
- Rich valuation (P/E 50x, P/B 12x)
- Profit growth (7.8%) lags sales growth (26%)—margin pressure
- No dividend payout (0% yield)—not suited for income investors
- Global IT spending volatility (especially in BFSI)
Investment Suitability
| Factor | Assessment |
|---|---|
| Risk Profile | Moderate (mid-cap IT) |
| Time Horizon | Long-term (5+ years) |
| Volatility | Moderate |
| Dividend/Income | None (0% yield) |
| Ideal Investor | Growth-focused investor bullish on AI and global IT services |
FAQs
Final Verdict
Hexaware Technologies is a high-quality, debt-free IT company with strong capital efficiency and strategic relevance in the AI era. While its valuation is rich, its ROCE of 36% and global client base justify a premium. Our 2026–2030 price targets (₹680–₹1,080) reflect steady, sustainable appreciation—not speculative hype. Investors should accumulate on dips with a 5-year horizon.
📌 Disclaimer: Price targets are estimates based on current fundamentals and sector trends. They are not investment advice. Please consult a SEBI-registered advisor before investing.
Sources
- Screener.in – Hexaware Technologies Consolidated Page
- Finology.in – HEXT Financials & Shareholding
- BSE/NSE Filings – Corporate Announcements
- Company Annual Report FY2025
- Investor Presentations (FY25–FY26)
Hi, I’m Raj Mittal, a stock market content writer focused on company analysis, share price trends, and fundamental research. I create simple, research-based insights to help investors make smarter market decisions.
