Hexaware Q1CY26: Flat USD revenue, AI-led deal momentum and guidance reaffirmed

Revenue was USD 388.5 million and INR 36,130 million in Q1CY26.

Reported EBIT margin was 13.0% in USD terms (13.3% in INR terms). Adjusted EBIT margin was also 13.0%.

Americas contributed 74.6% (INR 26,946 million), Europe 19.5% (INR 7,043 million), and Asia Pacific 5.9% (INR 2,141 million).

IT Services contributed 84.6% (INR 30,582 million), BPS 12.2% (INR 4,396 million), and Others 3.2% (INR 1,152 million).

Management reiterated a CY26 baseline revenue growth floor of 7.6% and EBIT margin guidance of 13.0% to 14.0%, with margin expected to improve in H2.

On a trailing twelve-month basis, top 5 customers contributed 25.6% of revenue, top 10 contributed 35.9%, and top 20 contributed 49.1%.

Total headcount was 33,798, IT voluntary attrition was 11.1% (TTM), and IT utilization was 82.6%.