Happiest Minds’ Revenues Up 12.5% At Rs645 Cr

Its Operating margins growing at 22.4% y-o-y and adjusted PAT growing at 20.7% y-o-y

Ashok Soota, Chairman & Chief Mentor, Happiest Minds

FinTech BizNews Service        

Mumbai, 02 November, 2026: Happiest Minds Technologies Limited (NSE:HAPPSTMNDS), an AI First, customer-centric digital engineering company, today announced its consolidated results for its Second quarter ended Sep 30th, 2026, as approved by its Board of Directors.

Ashok Soota, Chairman & Chief Mentor “The proposed merger of Happiest Minds with ITC Infotech represents a significant opportunity to create a stronger, more capable and more relevant enterprise for our customers. By bringing together our complementary strengths, capabilities and talent, the combined entity addresses larger opportunities, deepens customer relationships and competes more effectively in a rapidly evolving technology landscape.”

Joseph Anantharaju, Co-Chairman & CEO “Our strong results reflect the continued strength of our client relationships and our focus on disciplined execution. 

Enterprises are increasingly looking for partners who can bring together deep domain understanding, engineering capabilities and AI-led transformation to deliver measurable business outcomes. With the complementary capabilities that ITC Infotech brings to the table, we are excited at the potential to add further value to our customers and deepen our relationship.”

Venkatraman Narayanan, Managing Director “Our performance this quarter reflects steady execution across our strategic priorities and continued focus on profitable growth. The proposed combination with ITC Infotech is progressing well and remains on track with our targeted timelines, as outlined in our investor presentation. Together, we look forward to building a stronger global technology enterprise with over 19,000 people, with an aspiration to achieve US$1 billion in annual revenue by FY28 and deliver sustainable long-term value to our shareholders.”

All amounts in Rs Lakhs unless stated otherwise.    

Key Financial highlights

Quarter ended September 30, 2026

·       Revenue in INR terms ₹ 64,543 lakhs growing 2.7% q-o-q and 12.5% y-o-y

·       Revenue in constant currency grew 2.4% q-o-q and 6.8% y-o-y

·       Operating Revenues in US $ stood at $67.4 million, growing 1.8% q-o-q and 3.6% y-o-y

·       Total Income of ₹ 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 of ₹ 7,911 Lakhs and Adjusted EPS at ₹ 5.25

 Half Year ended September 30, 2026

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

Clients:

·       311 as of September 30, 2026

·       7 additions in the quarter

Our People - Happiest Minds:

·       6,466 Happiest Minds as of September 30, 2026

·       Trailing 12-month attrition of 14.3% (15.4% in the previous quarter)

·       Utilization of 81.8%, from 80.9% in last quarter

Q2 Key wins:

·       For a Global AI-powered Digital Asset Management (DAM) platform company, Happiest Minds has been selected as a strategic AI-led technology partner to establish and scale its Bengaluru GCC, with a transformation-led operating model focused on productivity, talent enablement, and scalable delivery.

·       For a Global electronics distributor, Happiest Minds has been selected as a cloud engineering partner for Azure administration, infrastructure automation, cloud networking, and observability.

·       For a US healthcare TPA, Happiest Minds has been selected as a Data & Analytics partner to implement data analysis, engineering and governance.

·       For a US skincare, beauty and personal care manufacturer, Happiest Minds has been selected as the strategic Managed Services Partner to support its IT operations through a multi-year engagement.

·       For India’s leading manufacturer of commercial vehicles, Happiest Minds has been selected as a strategic technology partner for its next-generation connected vehicle platform, driving platform operations, automation and scalability as it advances its Software Defined Vehicle journey.

·       For an Indian specialty steel manufacturer, Happiest Minds has been selected as a strategic transformation partner for SAP integrated production planning, scheduling, real-time WIP visibility, operational dashboards and future AI-driven manufacturing capabilities.