Happiest Minds Technologies announced robust H1 FY’26 results, achieving revenue growth of 11.8% in constant currency and an EBITDA margin of 20.8%. The company is raising its growth commitment to four consecutive years of double-digit revenue growth. GBS delivered stellar 77.8% year-on-year growth in Q2, and the company added 30 new clients in H1.
Financial Performance Highlights
Happiest Minds Technologies reported strong financial results for H1 FY’26:
- Revenue growth of 11.8% in constant currency.
- EBITDA margin of 20.8%.
- Revenue in INR terms stood at INR1,123 crores, up 14% year-over-year.
- Operating profit at INR194 crores.
For Q2, operating revenues stood at 65.2 million USD, growing 2.3% sequentially in constant currency and INR573 crores, up 4.3% sequentially.
Key Growth Drivers
The company’s performance was driven by several strategic initiatives:
- Generative AI Business Unit: Standout performer, scaling rapidly.
- GBS: Delivered 77.8% year-on-year growth in Q2 and 79% for H1.
- Net New Accounts: Added 30 new clients in H1, generating approximately $9 million in revenues with potential for $50 million to $60 million over the next 3 years.
Business Segment Performance
- GBS: Grew more than 79% in constant currency.
- IMSS: Delivered 3.6% growth.
Operational Metrics
- Company-wide utilization improved to 80.7%.
- Attrition came down to 17.4%.
Future Outlook
Happiest Minds is raising its growth commitment to four consecutive years of double-digit revenue growth through FY ’28. The focus remains on accelerating growth in AI, cloud, cybersecurity, and data-driven transformation.
The company aims to maintain its EBITDA in the 20% to 22% range.
Vertical Performance
- Retail CPG, Healthcare and Hi-Tech industry groups demonstrated strong growth.
Source: BSE
