Happiest Minds Technologies Limited has announced its financial results for the first quarter of Fiscal Year 2027 (ended June 30, 2026). The company reported a revenue of ₹62,851 lakhs, a 14.3% increase year-on-year. Profitability also saw growth, with Adjusted PAT rising by 14.7%. The company highlighted strong customer engagement, repeat business, and strategic project wins, underscoring its robust performance and AI-led capabilities.
Financial Performance Overview
Happiest Minds Technologies Limited has reported its financial results for the quarter ended June 30, 2026. The company demonstrated strong growth, with operating revenue reaching ₹62,851 lakhs, marking a significant 14.3% year-on-year growth and a 4.0% sequential growth in INR terms. In constant currency, revenue grew by 6.7% year-on-year and 2.6% sequentially.
The company maintained healthy operating margins at 17.5%. Profitability metrics also showed positive trends, with Adjusted PAT growing by 14.7% year-on-year to ₹8,052 lakhs. Adjusted EPS saw a substantial increase of 17.1% year-on-year, reaching ₹5.34.
Key Operational Highlights
Operationally, Happiest Minds served 306 active customers during the quarter, with 92 billion-dollar corporations contributing 58.7% of the total revenue. The company continues to benefit from a high degree of customer loyalty, with 94.4% repeat business. The balance sheet remains robust, with cash and cash equivalents of ₹1,743 crore, providing flexibility for strategic investments.
Employee strength stood at 6,532, with voluntary attrition improving to 15.4%. Employee utilization remained strong at 81%.
Strategic Project Wins
The quarter saw several key project wins across different geographies and industries:
- Secured a strategic Data & AI partnership with a North American energy infrastructure company.
- Selected as the AI-led ELLIPSE platform partner for managed infrastructure services by a North American wireless services provider.
- Awarded a multi-year, multi-million-dollar Managed Security Services deal by a Middle Eastern retailer.
- Selected to build an AI-powered, platform-driven test automation platform for an Australian Insurance provider.
- Chosen to help an Indian MNC CPG company transition to a more scalable, flexible, and experience-led commerce platform.
- Selected to build a Salesforce-based MVP for a global technical consulting company.
Analyst Recognitions and Awards
Happiest Minds received notable recognitions from industry analysts and accolades:
- Recognized in ISG’s Digital Engineering Services (Midsize) 2026 reports as a Product Challenger and Contender.
- Included in Everest Group’s Top 50™ Store Services Providers 2026 List.
- Featured as Disruptors in Avasant’s Higher Education Digital Services 2026 RadarView™ and as a Challenger in Avasant’s High-Tech, Banking, and Manufacturing Digital Services 2026 RadarView™.
- Ashok Soota was named among AIM 100: India’s Most Influential People Shaping AI in 2026.
- Preeti Menon was recognized among AIM: The Top 24 Women Enterprise AI Leaders in India.
These recognitions highlight the company’s strong market positioning and leadership in AI and digital transformation services.
Source: BSE
