Happiest Minds Technologies (NSE:HAPPSTMNDS) reported a 9.8% YoY increase in revenue to $129.5 million for H1 FY26. The company is seeing success with its generative AI business, with 22 transformative use cases. An independent Net New sales unit delivered strong early outcomes, with 30 new client additions and a revenue potential between $50–60 million over the next three years.
Financial Performance
Happiest Minds Technologies has announced its consolidated results for the second quarter of fiscal year 2026, with key highlights including:
- Revenue in US$ stood at $65.1 million.
- YoY Revenue growth of 9.8%
- EBITDA at ₹12,027 lakhs, representing 20.2% of Total Income.
- PAT reached ₹5,402 lakhs, which is 9.1% of Total Income.
Strategic Growth & Business Updates
The company is focused on the following strategic initiatives:
- Generative AI Business Unit (GBS): Success in Generative and Agentic AI with 22 transformative use cases progressed to replicable projects, unlocking a sales potential of almost US$ 50 million.
- Net New Accounts: The investment in the independent Net New sales unit has delivered early outcomes with strong early outcomes, securing 30 new clients and a potential revenue of $50-60 million over the coming three years.
Segment Revenue Breakdown
Revenue distribution across various segments:
- Infrastructure Management & Security Services (IMSS): ₹9,306 Lakhs
- Product & Digital Engineering Services (PDES): ₹46,457 Lakhs
- Generative Al Business Services (GBS): ₹1,594 Lakhs
Key Ratios and Metrics
- Debt-Equity ratio: 0.78
- Interest Service Coverage ratio (ISCR): 3.99
People and Attrition
- Total Happiest Minds as of September 30, 2025: 6,554
Source: BSE