Investment Thesis - The company's revenue surged by 12.3% in FY23. Company is planning to go for IPO to raise 8,500 cr at a expected valuation of Rs. 40,000 cr - Rs.50,000 cr. Currently it is trading at a valuation of Rs.24,000 cr.
Hexaware Technologies Limited provides information technology consulting, software development, and business process services. The company has a client base worldwide with 70%, 20%, and 10% revenue share from countries in the Americas, European countries, and Aisa-Pacific countries, respectively.
Financials-In FY23, the company experienced a 13% year-on-year (y-o-y) increase in revenue, with a 17% average increase over the past five years. Also, there was an 13% increase in net profit for FY23, whereas it has increased by 11% over the past five years.
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