Hexaware Technologies Limited, a leading global provider of IT, BPO and Consulting services has reported robust performance for the fourth quarter of the calendar year ended December 31, 2013.
“Hexaware has achieved two new milestones this quarter. The Company has for the first time crossed $ 100 mn quarterly revenue and ` 100 Crores quarterly PAT. This is a validation of Hexaware’s strategic direction and management team”, remarked Atul Nishar, Chairman, Hexaware Technologies Limited.
“We have seen an increase in the count of clients generating US$ 20 million plus annual revenue from 3 to 4 and US$ 1 million plus from 53 to 55 in Q4 2013. As we enter 2014, we will continue to make investments in strengthening our core competencies across verticals as well as horizontals and through those initiatives, enhance our ability to add value to our customers”, stated P. R. Chandrasekar, CEO and Vice Chairman, Hexaware Technologies Limited.
Third Interim Dividend of 2013
The Board of Directors declared a third interim dividend of ` 7.50 per share (375%) on equity shares of ` 2/- each. The record date is fixed as Friday, 21st February 2014 for determining the shareholders entitled for this third interim dividend of the year 2013. The payment shall be made on February 26th, 2014.
Earlier in the year, the Board of directors declared two interim dividends of ` 1.20 per share (60%) and ` 1.40 per share (70%) on equity shares of ` 2.00 each. Along with the third interim dividend for 2013, the total interim dividend amounts to ` 10.10 (505%)
Final Dividend Recommendation
The Board of Directors has recommended a final dividend of ` 1.00 per share (50%) on equity shares of Rs. 2/- each, subject to the approval of the shareholders at the Annual General Meeting (AGM). The twenty first Annual General Meeting (AGM) of the Company is scheduled for April 25, 2014. With this recommendation for the final dividend, the total dividend for the year 2013 amounts to ` 11.10 per share (555%) up from ` 5.40 per share (270%) for the year 2012. Further to the approval by the shareholders at the AGM to be held on April 25, 2014, the final dividend shall be paid on April 29, 2014.
Business Updates
During the previous quarter, the Company added 10 new clients across all its key focus areas. Of these, 1 client was added in the Banking and Financial Services (BFS) Domain and 2 clients each were added in the Healthcare & Insurance (H&I) space and in the Travel and Transportation Vertical. Of the 10 clients added in Q4 2013, 5 customers are based in Americas, 1 in Europe and 4 in Asia Pacific (APAC) region.
From a horizontal service line perspective, 4 clients were won in Enterprise Solutions space, 1 client each in Business Intelligence and Business Analytics (BI/ BA) Horizontal and Business Process Outsourcing (BPO) and 2 clients each in Quality Assurance and Testing Services (QATS) and Remote Infrastructure Management Services (Remote IMS) service line.
Foreign Exchange Cover
The Company has hedges worth $ 174.7 mn at an effective rate of ` 58.04 and € 9.3 mn at an effective exchange rate of ` 76.17 maturing over the course of the next seven quarters (from January 2014 to July 2015).
Awards and Recognition
Hexaware has been featured in the GS100 - 2013 List, which includes companies that define leadership in the global services business. It is a tool for buyers of business and technology services that help them to identify and select the right vendor. The Global Services 100 analytical model of selection is based on four key criteria: performance and leadership, quality and maturity of customers, breadth of services offered, and spread of global delivery capabilities.
Hexaware has been mentioned in the Everest report titled “Infrastructure Services IT Outsourcing (ITO) Service Providers’ Assessment - 2013 Global Preview”.
Hexaware has been the winner of IT Excellence award conferred by Vmware in association with CNBC.
Hexaware has been mentioned as one of the Midtier full IT services near-shore and offshore based providers in the Gartner report titled “Vendor Guide to the Right Application Testing Service Partner” dated 20 November 2013 by analysts Susanne Matson and Gilbert van der Heiden.
Hexaware has been the winner of the EMC Transformers Award conferred by the IDG Group.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Hexaware
Hexaware is a leading global provider of IT & BPO and consulting services. The Company focuses on key domains such as Banking, Financial Services, Insurance, Travel, Transportation, Logistics, Life Sciences and Healthcare. Our business philosophy, “Your Success is Our Focus”, is demonstrated through the success we ensure for our clients. Hexaware focuses on delivering business results and leveraging technology solutions by specializing in Business Intelligence & Analytics, Enterprise Solutions, Quality Assurance and Testing Services, Remote Infrastructure Management Services and Legacy Modernization. Founded in 1990, Hexaware has a well-established global delivery model armed with proven proprietary tools and methodologies, skilled human capital and SEI CMMI-Level 5 certification. For additional information logon to www.hexaware.com
“Hexaware has achieved two new milestones this quarter. The Company has for the first time crossed $ 100 mn quarterly revenue and ` 100 Crores quarterly PAT. This is a validation of Hexaware’s strategic direction and management team”, remarked Atul Nishar, Chairman, Hexaware Technologies Limited.
“We have seen an increase in the count of clients generating US$ 20 million plus annual revenue from 3 to 4 and US$ 1 million plus from 53 to 55 in Q4 2013. As we enter 2014, we will continue to make investments in strengthening our core competencies across verticals as well as horizontals and through those initiatives, enhance our ability to add value to our customers”, stated P. R. Chandrasekar, CEO and Vice Chairman, Hexaware Technologies Limited.
Third Interim Dividend of 2013
The Board of Directors declared a third interim dividend of ` 7.50 per share (375%) on equity shares of ` 2/- each. The record date is fixed as Friday, 21st February 2014 for determining the shareholders entitled for this third interim dividend of the year 2013. The payment shall be made on February 26th, 2014.
Earlier in the year, the Board of directors declared two interim dividends of ` 1.20 per share (60%) and ` 1.40 per share (70%) on equity shares of ` 2.00 each. Along with the third interim dividend for 2013, the total interim dividend amounts to ` 10.10 (505%)
Final Dividend Recommendation
The Board of Directors has recommended a final dividend of ` 1.00 per share (50%) on equity shares of Rs. 2/- each, subject to the approval of the shareholders at the Annual General Meeting (AGM). The twenty first Annual General Meeting (AGM) of the Company is scheduled for April 25, 2014. With this recommendation for the final dividend, the total dividend for the year 2013 amounts to ` 11.10 per share (555%) up from ` 5.40 per share (270%) for the year 2012. Further to the approval by the shareholders at the AGM to be held on April 25, 2014, the final dividend shall be paid on April 29, 2014.
Business Updates
During the previous quarter, the Company added 10 new clients across all its key focus areas. Of these, 1 client was added in the Banking and Financial Services (BFS) Domain and 2 clients each were added in the Healthcare & Insurance (H&I) space and in the Travel and Transportation Vertical. Of the 10 clients added in Q4 2013, 5 customers are based in Americas, 1 in Europe and 4 in Asia Pacific (APAC) region.
From a horizontal service line perspective, 4 clients were won in Enterprise Solutions space, 1 client each in Business Intelligence and Business Analytics (BI/ BA) Horizontal and Business Process Outsourcing (BPO) and 2 clients each in Quality Assurance and Testing Services (QATS) and Remote Infrastructure Management Services (Remote IMS) service line.
Foreign Exchange Cover
The Company has hedges worth $ 174.7 mn at an effective rate of ` 58.04 and € 9.3 mn at an effective exchange rate of ` 76.17 maturing over the course of the next seven quarters (from January 2014 to July 2015).
Awards and Recognition
Hexaware has been featured in the GS100 - 2013 List, which includes companies that define leadership in the global services business. It is a tool for buyers of business and technology services that help them to identify and select the right vendor. The Global Services 100 analytical model of selection is based on four key criteria: performance and leadership, quality and maturity of customers, breadth of services offered, and spread of global delivery capabilities.
Hexaware has been mentioned in the Everest report titled “Infrastructure Services IT Outsourcing (ITO) Service Providers’ Assessment - 2013 Global Preview”.
Hexaware has been the winner of IT Excellence award conferred by Vmware in association with CNBC.
Hexaware has been mentioned as one of the Midtier full IT services near-shore and offshore based providers in the Gartner report titled “Vendor Guide to the Right Application Testing Service Partner” dated 20 November 2013 by analysts Susanne Matson and Gilbert van der Heiden.
Hexaware has been the winner of the EMC Transformers Award conferred by the IDG Group.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Hexaware
Hexaware is a leading global provider of IT & BPO and consulting services. The Company focuses on key domains such as Banking, Financial Services, Insurance, Travel, Transportation, Logistics, Life Sciences and Healthcare. Our business philosophy, “Your Success is Our Focus”, is demonstrated through the success we ensure for our clients. Hexaware focuses on delivering business results and leveraging technology solutions by specializing in Business Intelligence & Analytics, Enterprise Solutions, Quality Assurance and Testing Services, Remote Infrastructure Management Services and Legacy Modernization. Founded in 1990, Hexaware has a well-established global delivery model armed with proven proprietary tools and methodologies, skilled human capital and SEI CMMI-Level 5 certification. For additional information logon to www.hexaware.com
