Hexaware Technologies announced the outcome of its Board meeting held on October 28, 2026. The Board approved unaudited standalone and consolidated financial results for the quarter and nine months ended September 30, 2026. Key decisions included the appointment of Mr. Arjun Shah and Mr. Gregory Michael Zeluck as Additional Directors, and the approval of several strategic initiatives including a slump sale and mergers of subsidiaries.
Hexaware Technologies Board Meeting Outcome
Hexaware Technologies Limited announced the key outcomes of its Board of Directors meeting held on Wednesday, October 28, 2026. The meeting addressed several critical business and governance matters, including the approval of the company’s financial performance for the recent periods.
Financial Results Approved
The Board of Directors gave their approval for the unaudited standalone and consolidated financial results for both the quarter and the nine months ended September 30, 2026. Accompanying these results are the Limited Review Report from the Statutory Auditors and a press release detailing the financial performance.
Director Appointments and Resignations
In a significant governance move, the Board approved the appointment of Mr. Arjun Shah (DIN: 12007913) as an Additional Director in the capacity of Non-Executive Non-Independent Director, effective October 29, 2026. This appointment is subject to shareholder approval.
Similarly, Mr. Gregory Michael Zeluck (DIN: 00682118) was appointed as an Additional Director, also in the capacity of Non-Executive Non-Independent Director, effective October 29, 2026, pending shareholder approval.
The Board also noted the resignations of two directors. Mr. Neeraj Bharadwaj (DIN: 01314963) resigned as Non-Executive Non-Independent Director effective October 28, 2026. Concurrently, Mr. Julius Genachowski (DIN: 09365873) also resigned as Non-Executive Non-Independent Director, with effect from the close of business hours on October 28, 2026.
Strategic Business Approvals
Several strategic transactions received Board approval aimed at entity rationalization and operational efficiency:
- Slump Sale of Tech SMC Square India Private Limited: Approved the slump sale of this wholly owned subsidiary to Tech SMC Squared (GCC) India Private Limited.
- Merger of Wholly Owned Subsidiaries: Approved the merger of Identity and Access Solutions Canada Inc. and IT Glitterz LLC into their respective parent subsidiaries, Hexaware Technologies Canada Limited and Hexaware Technologies Inc., USA.
- Incorporation of Subsidiary in Mauritius: Approved the incorporation of a wholly owned subsidiary in Mauritius with an initial investment up to USD 01 Million.
- Voluntary Liquidation: Approved the voluntary liquidation of Mobiquity BV, a step-down subsidiary in the Netherlands.
Other Key Decisions
The Board also approved the allotment of 13,00,000 equity shares at an issue price of Rs.382.5 per share to the Hexaware Employees Benefit Trust. Additionally, the committees of the Board were re-constituted following the changes in directorships.
The meeting commenced at 5:32 p.m. IST and concluded at 7:46 p.m IST.
Source: BSE
