Key Financial Figures

Quarterly Performance (Q4 FY26)

  • Revenue: ₹60,408 lakhs, growing 2.8% QoQ and 10.9% YoY
  • Revenue in constant currency: 0.5% QoQ and 6.4% YoY growth
  • Operating Revenue in USD: $65.0 million, declining (1.0)% QoQ but growing 3.5% YoY
  • Total Income: ₹62,169 lakhs, growing 3.1% QoQ and 9.0% YoY
  • Operating Profit: ₹10,621 lakhs, growing 5.3% QoQ and 30.7% YoY
  • Operating Margin: 17.5%
  • PAT: ₹6,117 lakhs, growing 51.8% QoQ and 79.9% YoY
  • Adjusted PAT: ₹7,136 lakhs, growing 2.1% QoQ and 21.3% YoY
  • Adjusted EPS: ₹4.74

Annual Performance (FY26)

  • Revenue: ₹2,31,511 lakhs, growing 12.3% YoY
  • Revenue in constant currency: 9.2% YoY growth
  • Operating Revenue in USD: $260,322 million, growing 6.9% YoY
  • Total Income: ₹2,40,008 lakhs, growing 11.0% YoY
  • Operating Profit: ₹40,162 lakhs, growing 12.3% YoY
  • Operating Margin: 17.4%
  • PAT: ₹21,262 lakhs, growing 15.1% YoY
  • Adjusted PAT: ₹27,863 lakhs, growing 9.4% YoY
  • Adjusted EPS: ₹18.51

Exceptional Items

  • Q4 FY26: Gain of ₹344 lakhs from fair value remeasurement of contingent consideration
  • FY26 Total: Charge of ₹1,859 lakhs (including ₹2,203 lakhs Q3 charge for Labour Code impact)

Dividend Declaration

The Board of Directors at their meeting held on May 28, 2026, recommended a final dividend of ₹3.65 per equity share of ₹2 each for FY26. This is subject to approval by shareholders at the 15th Annual General Meeting scheduled for July 28, 2026. If approved, the total dividend per share for FY26 would be ₹6.40.

Operational Highlights

  • Active Clients: 306 as of March 31, 2026 (51 additions during the year)
  • Employee Strength: 6,497 Happiest Minds as of March 31, 2026
  • Attrition: 17% trailing 12-month attrition (17.4% in previous quarter)
  • Utilization: 81.4% (82% in previous quarter)
  • Pipeline Growth: 27% increase during the quarter

Business Segments Performance (FY26)

  • IMSS: Revenue ₹38,909 lakhs, Segment Result ₹10,554 lakhs
  • PDES: Revenue ₹1,84,736 lakhs, Segment Result ₹46,876 lakhs
  • GBS: Revenue ₹7,866 lakhs, Segment Result ₹1,099 lakhs

Key Project Wins

Multiple project wins across various sectors including:

  • US insurance and financial software services provider: Product engineering & development services
  • US print and communication company: Pimcore implementation for vendor management
  • European healthcare software company: Hospital management solution modernization
  • European energy tech company: AWS based IOT Platform development
  • Industrial Service & Maintenance Company: Platform modernization with QE automation
  • European utilities company: Pimcore based digital asset management platform
  • Global warehouse automation leader: Engineering, data, networking and security applications

Guidance and Outlook

  • FY27 Growth Guidance: 12.5% growth in constant currency
  • Margin Improvement Target: At least 100 basis points improvement in margins
  • AI Strategy: Continued focus on scaling 'AI First' strategy with investments in Enterprise AI Platform and repeatable solutions

Acquisition Updates

PureSoftware Technologies Private Limited (PSTPL)

  • Acquired 100% equity interest on May 22, 2024 for ₹64,229 lakhs cash consideration
  • Recorded goodwill of ₹56,740 lakhs and other intangible assets of ₹15,718 lakhs
  • Contingent consideration of ₹10,814 lakhs
  • Acquisition costs: ₹605 lakhs grouped under Other expenses
  • FY26: Recognized loss of ₹1,247 lakhs on fair value remeasurement of second-year earn-out contingent consideration

Aureus Tech Systems LLC

  • Acquired 100% membership interest on May 24, 2024 for ₹7,149 lakhs cash consideration
  • Recorded goodwill of ₹4,783 lakhs and other intangible assets of ₹4,398 lakhs
  • Contingent consideration of ₹2,425 lakhs
  • FY26: Recognized gain of ₹1,591 lakhs on fair value remeasurement of second-year earn-out contingent consideration

Corporate Restructuring

  • Scheme of Amalgamation of Aureustech Systems Private Limited with Company: Filed with NCLT on September 02, 2025
  • Scheme of Amalgamation of PureSoftware Technologies Private Limited with Company: Filed with NCLT on May 09, 2025
  • Scheme of Amalgamation of Happiest Minds Edutech Pvt. Ltd: Approved by NCLT on September 22, 2025
  • Scheme of Amalgamation of Sri Mookambika Infosolutions Private Limited: Approved by NCLT (date not specified)

Labour Code Impact

The Group recognized an exceptional charge of ₹2,203 lakhs in Q3 FY25 (included in FY26 results) due to the implementation of new Labour Codes notified by Government of India on November 21, 2025, which introduced changes including uniform definition of wages and enhanced benefits.

Financial Position (Consolidated)

  • Total Assets: ₹3,62,511 lakhs
  • Total Equity: ₹1,68,949 lakhs (Share Capital: ₹3,005 lakhs, Other Equity: ₹1,65,944 lakhs)
  • Non-current Liabilities: ₹53,383 lakhs
  • Current Liabilities: ₹1,40,179 lakhs
  • Cash and Cash Equivalents: ₹11,966 lakhs
  • Trade Receivables: ₹39,027 lakhs