Happiest Minds Technologies
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Happiest Minds Technologies (HAPPSTMNDS) investor relations material

Happiest Minds Technologies Q3 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 25/26 earnings summary10 Feb, 2026

Executive summary

  • Achieved up to 10.7% year-over-year revenue growth in Q3 FY26, with nine-month growth as high as 10.2%, 297 active clients, and 92% repeat business.

  • Launched "AI First" as the 11th strategic transformation, embedding AI across workflows and platforms, with 32 GenAI and Agentic AI use cases moving from prototype to production.

  • AI-led solutions are central to customer engagements, driving measurable business outcomes and positioning for accelerated growth.

  • Recognized for people-first practices, diversity, and as a top employer in India, with 27% gender diversity and presence in 16 countries.

  • Over 600 AI specialists and 75%+ GenAI-enabled developers support digital engineering.

Financial highlights

  • Q3 FY26 revenue: $65.7M (up to 1.2% sequential, up to 7.1% YoY in constant currency); INR 588 crores (2.4% sequential, 10.7% YoY); nine-month revenue up to $195.2M (up to 10.2% YoY).

  • EBITDA: INR 123 crores (20.4% margin, up from 20.2% in Q2); operating margin up to 18%.

  • Adjusted PAT for Q3 FY26 at ₹6,992 lakhs; PAT at ₹4,030 lakhs, impacted by a one-time wage code charge of ₹2,203 lakhs.

  • Net profit margin at 7% for Q3 FY26; ROCE at 22%, ROE at 12.5%.

  • Utilization rate: 82% (highest in recent times); attrition: 17.4% (trailing 12 months), stable.

Outlook and guidance

  • Reaffirmed commitment to 10%+ revenue growth in constant currency for the current and next financial years.

  • Expecting to provide increased growth guidance above 10% after Q4, driven by AI First strategy and expansion of GenAI team to 1,000 by FY 2027.

  • Digital revenues remain above 94% of total, with continued focus on AI, cloud, and digital transformation.

  • Management highlights strong pipeline in AI-driven solutions and expects continued growth in BFSI and healthcare verticals.

"AI First" strategy: What specific growth drivers?
Edtech vertical: Plan for FY '27 reversal?
DSO reduction plan to 85 days?
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Next Happiest Minds Technologies earnings date

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Q4 25/267 May, 2026
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Frequently asked questions

Happiest Minds Technologies Limited is an Indian IT services company that focuses on digital transformation and IT consulting. The company offers a wide range of services including cloud computing, artificial intelligence, Internet of Things (IoT), digital process automation, and cybersecurity. These services are designed to help businesses enhance customer experiences, improve operational efficiency, and gain actionable insights. The company is headquartered in Bengaluru, Karnataka, India, and its shares are listed on the NSE.

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