Happiest Minds Technologies announced its consolidated financial results for the Third quarter ended December 31, 2025. The company reported revenues of ₹58,756 lakhs, achieving an EBITDA margin of 20.4%. Management highlighted significant progress in the ‘AI First. Agile Always.’ strategy, supported by 11 strategic programs, with several GenAI use cases moving into scaling phases across key client accounts.
Q3 FY’26 Financial Performance Highlights
Happiest Minds Technologies Limited today announced its consolidated results for the Third quarter ended December 31st, 2025. The results reflect an acceleration in growth driven by the ‘AI First. Agile Always.’ strategy.
- Revenue in constant currency grew 1.2% q-o-q and 7.1% y-o-y.
- Total Income stood at ₹60,328 lakhs, an increase of 1.4% q-o-q and 8.9% y-o-y.
- EBITDA reached ₹12,283 lakhs, representing an Operating Margin of 20.4% for the quarter.
- PAT for the quarter was ₹4,030 lakhs, while Adjusted PAT was ₹6,992 Lakhs, resulting in an Adjusted EPS of ₹4.64.
Nine Months Performance Review
For the nine months ended December 31, 2025, the company demonstrated sustained momentum:
- Revenue in constant currency grew 10.2% y-o-y.
- Total Income grew by 11.7% YoY to ₹177,840 lakhs.
- EBITDA stood at ₹36,716 lakhs with a margin of 20.6%.
- Adjusted PAT was ₹20,728 Lakhs, with Adjusted EPS at ₹13.77.
Strategic Focus: AI First Transformation
Ashok Soota, Chairman & Chief Mentor, stated that the launch of AI First as the 11th strategic transformation is proceeding well, emphasizing that recent global turbulence presents an opportunity, not a threat.
Sridhar Mantha, CEO of Generative AI Business Services (GBS), highlighted the AI Services Delivery Platform, which is already delivering tangible outcomes by speeding up the move from AI pilots to production across verticals like healthcare. The company now has 32 Generative AI & Agentic AI use cases successfully moved beyond prototypes, with many scaling into full projects.
Joseph Anantharaju, Co-Chairman & CEO, noted the excitement around the AgenticAI approach using a Hybrid Coding paradigm to modernize applications and address tech debt effectively.
Venkatraman Narayanan, Managing Director, confirmed the plan to double down on Al/GenAl investments and build a dedicated 1,000+ team by end of FY27 to support long-term growth.
Key Operational and Business Wins
Client additions in the quarter reached 11, bringing the total client count to 297 as of December 31, 2025. Workforce metrics showed a stable trailing 12-month attrition rate of 17.4% and an increased utilization rate of 82%.
Notable Q3 Key Wins
- Secured business with a Global FMCG leader in Plant-Based Food involving GenAI-driven automation for vendor monitoring.
- Partnering with a top United States-based insurance provider to define enterprise-wide AI adoption roadmaps.
- Assisting a global life sciences strategic partner with an independent AI solution assessment for due-diligence.
- Building and managing the sampling & trial generation system for a Fortune 500 global consumer goods company.
- Supporting a US healthcare BPO company in optimizing their entire cloud infrastructure.
Awards and Analyst Recognition
Happiest Minds secured several accolades, including the Best Use of AI in DevOps (IT Services) award. The Integrated Annual Report 2025 won double Gold. Furthermore, analysts recognized the company as a ‘Major Contenders’ by Everest Group and a ‘Leaders Quadrant’ by AIM Research for specialized Data Science services.
Source: BSE
