Rank - 56 : Hexaware Technologies

The recession and multi-currency volatility caused dip in revenues leading to
Hexaware going out of the DQ Top50 Club, but it still managed a 127% increase in
net profits, increase in operating margins from 8.2% to 16.9% and a reduced SG&A
despite strengthening focus on verticals and horizontals (in CY09). Capital
markets (40%) and travel & transport (25%) still led the show, with healthcare
(5%) too coming up, following the tie-up with Medilink (for the BPO arm Caliber
Point). Hexaware acquired the remaining stake from its JV partner Pemtrad
International, to convert RiskTech into a wholly owned subsidiary.