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Hexaware Delivers Strong Q1CY25 Revenue at $371.5 Mn Up 12.4% YoY

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Q1CY25 EBITDA Expansion of 117 bps YoY

Q1CY25 EPS at INR 5.38 Increase of 16.7% YoY

ISELIN, N.J., April 28, 2025 /PRNewswire/ — Hexaware Technologies (NSE: HEXT), a leading global provider of IT solutions and services, today announced financial results for the first quarter of calendar year 2025 ended March 31, 2025.

Financial Summary and Highlights

USD Mn

INR Mn

Q1CY25

QoQ (%)

YoY (%)

Q1CY25

QoQ (%)

YoY (%)

Revenue

371.5

(0.2 %)

12.4 %

32,079

1.7 %

16.7 %

EBITDA

62.1

2.3 %

20.8 %

5,322

3.5 %

24.3 %

PAT

38.3

0.8 %

14.0 %

3,271

2.0 %

17.2 %

 

Constant Currency Growth

Q1CY25

QoQ %

YoY %

Revenue

(0.2 %)

12.7 %

 

Revenue:

Q1CY25: USD 371.5 Mn | INR 32,079 Mn
– USD: (0.2%) QoQ and +12.4% YoY | INR: +1.7% QoQ and +16.7% YoY
– Constant Currency: (0.2%) QoQ and +12.7% YoY

Profitability:

Reported EBITDA:
– Q1CY25: 16.7% | +2.3% QoQ & +20.8% YoY in absolute terms
– +41 bps QoQ & +117 bps YoY in % termsBasic EPS:
– Q1CY25: INR 5.38 | +2.5% QoQ & +16.7% YoY

Key Client Metrics:

3 customers >$75Mn (1 customer in the $100 Mn+ category)NPS Score of 67; 27 points higher than the industry medianTop 5 customers revenue concentration: 25.7% in LTM Q1CY25

Key People Metrics:

Closing Headcount: 31,564, LTM net headcount addition of 1,429Voluntary Attrition for IT(1): 11.2%Q1CY25 Utilization Rate for IT(2): 82.1%

Other Key Metrics:

DSO (Billed + Unbilled) at 75 in Q1CY25, of which Billed is 39LTM Q1CY25 Adjusted Cash Conversion % at 61.9%Strong Cash and Cash Equivalents position as of 31st March 2025(3) INR 19,087 Mn

Leadership Speak

“We continued to execute well on the basics that power our growth – win market share through delivery excellence and invest in creating differentiated capabilities, talent, and platforms. The strength of our deals wins positions us strongly for a year of solid growth.”
R. Srikrishna, CEO

“We are pleased to report 12.4% YoY revenue growth, demonstrating our resilience. Despite the economic uncertainty, we have not only sustained our growth trajectory but also expanded our margins by 117 basis points YoY and 41 bps QoQ. This achievement underscores our operational excellence and our ability to continue delivering in challenging environment too.”
Vikash Jain, CFO

Key Wins

Modernizing the Grants Management System for an international financial institution providing financial and technical assistance to developing countries in educationFinance and HR platform transformation for large financial institution based out of EuropeApplication modernization and transformation journey across multiple business lines for large global bankDeveloping a new settlement platform to manage transactions more effectively for large travel player providing data analytics and settlement servicesInfrastructure, application & data separation consulting and implementation program and migration of applications / workloads from global data center to cloud for a leading American global multinational law firmProgram to eliminate legacy applications to achieve simplification and reduce legacy debt using a low code platform for US based health and technology companyBuilding Gen AI based platforms and apps for a large legal advisory firmBroad IT services for one of the largest pet insurance company

Notes: (1) Voluntary attrition rate for the IT service line is calculated as the total number of IT business professionals and support function professionals who left the company voluntarily during a period, divided by the average number of IT business professionals and support function professionals during the period, computed on a trailing twelve-month basis. (2) Utilization rate for IT is calculated as the total hours IT business professionals spend on customer-billed assignments, divided by the total available base hours. IT business professionals designated as Mavericks (campus hires) are included in the utilization computation after the completion of an initial training period of up to four months. (3) Includes restricted cash balance

About Hexaware

We are a global digital and technology services company with artificial intelligence (“AI”) at its core. We leverage technology to deliver innovative solutions that help our customers in their digital transformation journey and subsequent operations. We embed AI into every aspect of our solutions and have created a suite of platforms and tools that allow our customers to adapt, innovate, and optimize in this AI-first era. We serve a diverse range of customers, including 31 Fortune 500 organizations. With a team of 31,564 employees in 28 countries, our presence is spread across major countries, nationalities, languages, time zones, and regulatory zones. For more information, please visit https://hexaware.com/ 

Forward-looking Statements

Certain statements in this press release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Hexaware has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies, and unauthorized use of our intellectual property and general economic conditions affecting our industry. The Company may, from time to time, make additional written and oral forward statements. We do not undertake to update any forward statements that may be made from time to time by us or on our behalf unless required under the law.

Disclaimer

Use of Non-GAAP Financials

Hexaware has included certain non-GAAP financial measures in this presentation to supplement Hexaware’s consolidated financial statements presented on a GAAP basis. These non-GAAP financial measures may have limitations as analytical tools, and these measures should not be considered in isolation or as a substitute for analysis of Hexaware’s results as reported under GAAP.

The non-GAAP financial information that we provide also may differ from the non-GAAP information provided by other companies. We compensate for the limitations on our use of these non-GAAP financial measures by relying primarily on our GAAP financial statements and using non-GAAP financial measures only supplementally. We have provided reconciliation of non-GAAP earnings to the most directly comparable GAAP earnings, and we encourage investors to review those reconciliations carefully.

We believe that providing these non-GAAP financial measures in addition to the related GAAP measures provides investors with greater transparency. We further believe that providing this information better enables investors to understand Hexaware’s operating performance and financial condition.

Rounding off

Certain amounts and percentage figures included in this presentation have been subject to rounding adjustments. Accordingly, figures shown as totals in certain tables may not be an arithmetic aggregation of the figures preceding them.

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SOURCE Hexaware Technologies Ltd.

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Hisense Celebrates Earth Day: The Quiet Green Shift Happening Inside Households Through Smarter Appliances

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DUBAI, UAE, April 22, 2026 /PRNewswire/ — There’s something futuristic about a refrigerator that thinks for itself. Not in a science-fiction, take-over-the-world kind of way, but in the everyday miracle of a 620-litre side-by-side unit deciding, on its own, that 3am is the perfect time to run its compressor at minimal power because nobody’s opening the door anyway.

This is the green revolution that nobody talks about at climate summits. While world leaders debate carbon credits and industrial emissions, a quieter transformation is unfolding in kitchens, utility rooms, and living spaces across the UAE and beyond. It happens every time a washing machine calculates the precise amount of water needed for that half-load of towels, or when an air conditioner’s inverter technology throttles down instead of cycling on and off like an energy-guzzling metronome.

Earth Day, falling on 22 April this year, typically conjures images of tree-planting ceremonies and beach clean-ups. Worthy endeavours, certainly. But the environmental impact of what sits in your home, running twenty-four hours a day, seven days a week, fifty-two weeks a year, rarely gets the attention it deserves.

On average, washing machines use 19 gallons of water per load, and the average household runs between 5 and 6 loads per week. Based on those figures, most washers use up to 5,605 gallons of water annually . Swap that for a modern front-load unit with AI wash programs, like Hisense’s models, and that figure can drop by up to 50 percent. Multiply this across the roughly 500,000 households in Dubai alone, and we’re suddenly talking about water savings that would make a desalination plant executive weep with joy.

The same logic applies to electricity consumption, a particularly pressing concern in a region where summer temperatures regularly exceed 45°C and air conditioning is a necessity. The difference between a conventional split AC unit and one equipped with inverter technology isn’t marginal, it’s substantial enough to show up on utility bills within the first month of operation.

Intelligence as an Environmental Strategy

What makes the current generation of home appliances genuinely different isn’t just improved efficiency ratings or eco-labelling. It’s the integration of AI into the very fabric of how these machines operate.

Hisense, a brand that has positioned itself at this intersection of technology and sustainability, describes its approach as a “dual-track strategy of intelligence plus green development.” Its ConnectLife ecosystem, available on select refrigerators, washing machines, dishwashers, and air conditioners, monitors energy consumption in real-time, learns household patterns, and makes AI-driven recommendations that, over time, compound into meaningful resource savings.

A Hisense 14-place setting dishwasher with auto-wash technology, for instance, doesn’t simply run the same cycle regardless of load. It assesses soil levels and adjusts water temperature and duration accordingly. A half-load mode means running appliances at appropriate capacity rather than wasting resources on unnecessary full cycles.

Multi-airflow cooling systems that reduce temperature fluctuation and preserve food longer. No-frost technology that eliminates the energy waste of ice buildup. Inverter compressors that modulate power consumption rather than running at full throttle constantly. These technologies have existed in various forms for years. What’s changed is their integration into accessible price points and mainstream product lines, making efficient living achievable for households beyond the ultra-premium market.

The Gulf region presents a fascinating case study for domestic sustainability. Per capita energy consumption ranks among the highest globally, driven by climate control requirements, water desalination dependencies, and historically subsidised utility costs. Yet the UAE has simultaneously positioned itself as a regional leader in renewable energy investment and sustainability commitments.

This creates a unique environment where smart appliance adoption carries amplified significance. A 1.5-ton inverter split AC running across a typical Abu Dhabi summer doesn’t just save its owner money, it reduces the load on an electrical grid increasingly powered by solar and nuclear generation. The connection between individual choices and collective outcomes becomes tangible in ways that might seem abstract in milder climates.

The rise of connected appliances adds another dimension. Remote diagnostics can extend product lifespans by identifying minor issues before they become terminal failures. Software updates can improve efficiency algorithms years after purchase. Energy monitoring creates accountability loops that encourage conscious consumption patterns.

Steam wash functions on modern washing machines reduce the need for hot-water cycles while improving allergen removal. Anti-bacterial filters in air conditioning units address both health and environmental concerns simultaneously. These convergences suggest that the old tension between convenience and conscience may be resolving itself through engineering rather than requiring consumers to choose sides.

The Household as Climate Actor

There’s something democratic about domestic sustainability. Industrial emissions reductions require policy negotiations, capital investments, and coordination across complex stakeholder ecosystems. Choosing a more efficient refrigerator requires a trip to the appliance store and perhaps a slightly higher upfront cost that will recoup itself over the product’s operational lifetime.

This isn’t to diminish the necessity of systemic change, individual action cannot substitute for structural transformation. But the two approaches complement rather than compete. Households equipped with intelligent appliances consume fewer resources, place less strain on infrastructure, and model consumption patterns that cascade through communities.

The quiet green shift happening inside households won’t make headlines the way renewable energy megaprojects or electric vehicle adoption rates do. But every time that dishwasher calculates optimal water usage, every time that inverter compressor modulates instead of cycles, every time that smart refrigerator adjusts its cooling schedule based on door-opening patterns, something meaningful happens. Millions of these moments, aggregated across millions of households, compound into impact that rivals any single infrastructure project.

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Dreame Nebula NEXT Auto expands academic collaboration to accelerate AI-driven automotive innovation

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UC Berkeley engagement underscores long-term investment in autonomous systems, engineering depth and intelligent vehicle development

BERKELEY, Calif., April 22, 2026 /PRNewswire/ — Dreame Nebula NEXT Auto has deepened its engagement with leading academic institutions, including the University of California, Berkeley, as it accelerates development of AI-defined vehicles and next-generation autonomous systems. The collaboration signals a long-term commitment to advancing core technologies that will shape the future of intelligent automotive motion.

The engagement brought Nebula NEXT engineers and leadership together with Berkeley researchers specialising in autonomous control systems, AI and intelligent transportation. The sessions focused on translating advanced research into real-world vehicle systems, with particular emphasis on safety, control and full-stack AI integration.

Jake Ma, Executive of Dreame Nebula NEXT Auto, said: “We aren’t building a car. We are building a new brain for the physical world. To us, the car is the only physical mothership capable of carrying the extreme compute required by large AI models today.”

The visit forms part of a broader strategy to anchor Nebula NEXT’s development in deep technical collaboration. By working closely with academic experts, the company is strengthening its approach to autonomous driving, vehicle intelligence and system-level engineering.

Nebula NEXT builds on Dreame Technology’s foundation in precision engineering and AI-driven innovation. This heritage underpins a shift from software-defined vehicles to AI-defined vehicles, where intelligence is embedded across the entire system, from perception and decision-making to chassis and powertrain control.

The company’s technical direction centres on integrating AI into the core dynamics of how vehicles operate. This includes continuous learning systems, multi-agent architectures and high-performance computing platforms designed to support real-time decision-making in complex driving environments.

Nebula NEXT first drew global attention at CES 2026 with the debut of the Nebula NEXT 01, a four-door electric hyper-sedan concept. The vehicle delivers 1.8-second acceleration from 0 to 100 km/h, more than 2,000 horsepower and a lightweight structure built from proprietary Blue Carbon Fiber.

Momentum continued with a high-profile appearance during the Super Bowl LVIII broadcast, extending the brand’s reach across North America and reinforcing its position as an emerging force in automotive technology.

Alongside performance, the company continues to prioritise foundational innovation. Its architecture combines AI-native operating systems, zonal electrical design and high-density computing platforms to enable scalable, intelligent vehicle systems.

Nebula NEXT is now entering a phase focused on system execution, engineering depth and scalable technology development. The company will present further advances at an upcoming Silicon Valley event on 27 April 2026, where it will unveil new products and core technologies.

By combining global market momentum, academic collaboration and a focus on engineering fundamentals, Dreame Nebula NEXT is positioning itself at the centre of the transition to AI-defined mobility.

Media contact:
Li Tong, Dreame Nebula Next Auto PR head, litong2@dreame.tech
Website: https://www.dreametech.com

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Sucden Financial Enables Client Trading in Shanghai Nickel Futures

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LONDON, April 22, 2026 /PRNewswire/ — Sucden Financial, the multi-asset execution, clearing and liquidity provider, announces that clients can now trade nickel futures and options on the Shanghai Futures Exchange (SHFE), following today’s opening of the contract to international participants.

Sucden Financial offers access to SHFE through its Overseas Intermediary status and established Chinese banking relationships. Clients can manage exposure across SHFE, the London Metal Exchange (LME) and more than 20 other global commodities markets through a single account.

In addition to SHFE nickel contracts, Sucden Financial’s clients can access the following Chinese exchanges: the Shanghai International Energy Exchange, the Dalian Commodity Exchange and the Zhengzhou Commodity Exchange.

Lucy Wainman, Head of Sales (China) at Sucden Financial, said:

“We are pleased to offer clients the opportunity to trade Shanghai nickel futures and options contracts, further broadening our access to Chinese markets. This milestone reflects the hard work of our team and the long-standing relationships we have built in China. We would like to thank SHFE and Chinese regulators for their support and constructive engagement.”

Marc Bailey, CEO of Sucden Financial, said:

“Expanding our global exchange coverage to include access to onshore mainland Chinese markets supports our organic growth strategy. By adding access to SHFE, we provide clients with an extended global reach through a single account. Continued investment in technology underpins our long-term commitment to our clients, enabling them to respond quickly to changing market dynamics and capture emerging opportunities.”

About Sucden Financial

With a history and heritage in commodity futures and options trading, Sucden Financial has evolved and diversified to become a leading global multi-asset execution, clearing and liquidity provider across FX, fixed income, and commodities.

Sucden Financial has a proven track record of over 50 years in financial markets. Since its foundation in 1973, it has been supported by its parent, Sucden, one of the world’s leading soft commodity trading groups, while remaining fully independent in its day-to-day trading operations.

Sucden Financial Limited is authorised and regulated by the Financial Conduct Authority.

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