Key Financial Results - Quarter Ended September 30, 2026

  • Revenue: ₹64,543 lakhs (₹645.43 crores), growing 2.7% quarter-on-quarter and 12.5% year-on-year
  • Revenue in constant currency: grew 2.4% q-o-q and 6.8% y-o-y
  • Operating Revenues in US$: $67.4 million, growing 1.8% q-o-q and 3.6% y-o-y
  • Total Income: ₹65,599 lakhs, growing 2.1% q-o-q and 11.9% y-o-y
  • Operating Margins: ₹11,911 lakhs, growing 9.6% q-o-q and 22.4% y-o-y
  • Adjusted PAT: ₹7,911 Lakhs
  • Adjusted EPS: ₹5.25
  • Exceptional item: ₹398 lakhs incurred towards the proposed merger with ITC Infotech

Key Financial Results - Half Year Ended September 30, 2026

  • Revenue: ₹1,27,349 lakhs, growing 13.4% y-o-y
  • Revenue in constant currency: growing 6.7% y-o-y
  • Operating Revenues in US$: $133.7 million, growing 3.3% y-o-y
  • Total income: ₹1,31,818 lakhs, growing 12.2% y-o-y
  • Operating Margins: ₹22,778 lakhs, growing 17.1% y-o-y
  • Adjusted PAT: ₹15,963 Lakhs
  • Adjusted EPS: ₹10.59

Operational Metrics

  • Client count: 311 as of September 30, 2026 (7 additions in the quarter)
  • Employee count: 6,466 Happiest Minds as of September 30, 2026
  • Trailing 12-month attrition: 14.3% (improved from 15.4% in previous quarter)
  • Utilization: 81.8% (improved from 80.9% in last quarter)

Dividend Announcement

The Board of Directors declared an interim dividend of ₹3.05 per equity share (face value ₹2) for FY 2026-27, representing 152.5%. The record date is November 6, 2026.

Merger Update

The proposed merger with ITC Infotech is progressing well and remains on track with targeted timelines. The combined entity aims to create a global technology enterprise with over 19,000 people and achieve US$1 billion in annual revenue by FY28.

Key Client Wins

Multiple strategic partnerships were secured including:

  • Global AI-powered Digital Asset Management platform company for Bengaluru GCC establishment
  • Global electronics distributor for cloud engineering partnership
  • US healthcare TPA for Data & Analytics implementation
  • US skincare manufacturer as strategic Managed Services Partner
  • Indian commercial vehicle manufacturer for connected vehicle platform
  • Indian specialty steel manufacturer for SAP transformation

Analyst Recognition

Happiest Minds received several industry recognitions:

  • ISG's Manufacturing Industry Services and Solutions 2026: Contender in ER&D Services and Physical AI/Smart Factory Services (US); Product Challenger in multiple categories
  • Everest Group's Major Contender in Insurance Claims Operations PEAK Matrix® Assessment 2026
  • ISG Provider Lens® for Generative AI Services 2026: Product Challenger in Strategy & Consulting and Development & Deployment Services
  • ISG Provider Lens® for Agentic AI Services 2026: Contender in Agentic AI Development & Deployment Services

Additional Information

The company refers to its investor presentation hosted on the company website for further details. The press release contains forward-looking statements subject to risks and uncertainties.