Happiest Minds Technologies Limited (NSE:HAPPSTMNDS), an AI First, customer-centric digital engineering company, today announced its consolidated results for its Fourth quarter ended March 31st, 2026, as approved by its Board of Directors.
Ashok Soota, Chairman & Chief Mentor, Happiest Minds, said, “We are delighted that our ‘AI First. Agile Always’ program has generated significant momentum enabling Happiest Minds to declare a guidance 12.5% growth for FY27. We will also strive to progress towards our aspirational growth of 15%”
Joseph Anantharaju, Co-Chairman & CEO, Happiest Minds, said, “We are excited with our strong performance for FY26, surpassing 300+ active customers and achieving a record pipeline increase of 27%. The Education segment is being transformed by GenAI, which will lead to opportunities and revival of the EdTech vertical. In addition to the success of the Arttha banking platform, our Eduweave solution already has live customers and a good set of prospects, and we expect many of our other platforms to drive repeatable sales and solutions.”
Venkatraman Narayanan, Managing Director, Happiest Minds, said, “We have shown sequential growth in revenues, every quarter since our IPO which is no mean feat. On the back of our improved utilization of 81% vis-à-vis last year of 77.4%, we have delivered industry leading Operating margins of 17.4% well within our guided range. With our investments of the previous years paying off and based on expected growth of 12.5% in constant currency for the next year, we are planning to improve our margins by at least 100 basis points. On the back of a robust balance sheet and healthy cash flows, we remain well-positioned to continue our investments in our AI-First strategy to deliver sustainable long-term value. We are pleased to announce a final dividend of ₹3.65 per share, subject to shareholder approval.”
Sridhar Mantha, CEO of Generative AI Business Services (GBS), Happiest Minds, said, “We remain focused on scaling our AI-first strategy and investing in capabilities that further accelerate enterprise transformation both on innovative AI solutions and leveraging AI for productivity improvements. We see enormous potential in our investments across multiple AI platforms and repeatable solutions, especially in our flagship Enterprise AI Platform, which enable us to deliver transformative solutions and sustainable value to our clients.”
All amounts in ₹ Lakhs unless stated otherwise.
Key Financial highlights
Quarter ended March 31st , 2026
- Revenue in INR terms ₹ 60,408 lakhs growing 2.8% q-o-q and 10.9% y-o-y
- Revenue in constant currency grew 0.5% q-o-q and 6.4% y-o-y
- Operating Revenues in US $ stood at $65.0 million growing (1.0)% q-o-q and 3.5% y-o-y
- Total Income of ₹ 62,169 lakhs growing 3.1% q-o-q and 9.0% y-o-y
- Operating Margins 10,621 lakhs growing 5.3% q-o-q and 30.7% y-o-y
- Adjusted PAT of ₹ 7136 Lakhs and Adjusted EPS at ₹ 4.74
Year ended March 31 st, 2026
- Revenue in INR terms ₹ 2,31,511 lakhs growing 12.3% y-o-y
- Revenue in constant currency grew 9.2% y-o-y
- Operating Revenues in US $ stood at $2,60,322 million, growing 6.9% y-o-y
- Total Income of ₹ 2,40,008 lakhs growing 11% YoY
- Adjusted PAT of ₹ 27,863 Lakhs and Adjusted EPS ₹18.51
Clients:
- 306 as of March 31, 2026
- 10 additions in the quarter; 51 additions in the year
Our People – Happiest Minds:
- 6,497 Happiest Minds as of March 31, 2026
- Trailing 12-month attrition of 17% (17.4% in the previous quarter)
- Utilization of 81.4%, from 82.0% in last quarter
Q4 Key wins:
- For a US based insurance and financial software services provider, Happiest Minds is delivering product engineering & development services
- For a US print and communication company, Happiest Minds is streamlining their vendor management processes by implementing Pimcore
- For an Industrial Service & Maintenance Company, Happiest Minds is driving platform modernization along with Quality Engineering (QE) automation
- For a global leader in warehouse automation, Happiest Minds is building their engineering, data, networking and security applications
- For a European healthcare software company, Happiest Minds is helping them modernize their hospital management solution
- For a European energy tech company, Happiest Minds is building their new AWS based IOT Platform
- For a European utilities company in waste and water management, Happiest Minds is building a Pimcore based platform to manage their digital assets
Award Wins:
- Happiest Minds was recognized as Top Employer India 2026 for People-First Practices
- Joseph Anantharaju was conferred with the Distinguished Alumnus Award 2026 by BITS Pilani in the Corporate Leadership category
Analyst Mentions:
- Happiest Minds is Star Performer and a Major Contender in Everest Group’s Software Product Engineering Services PEAK Matrix® Assessment 2026 – Global and EMEA
- Happiest Minds is Major Player in Arc Advisory Group’s ARC Supplier MarketMap for Engineering Services by Global Service Providers (GSPs) in India 2025
- Happiest Minds is Major Contender in ISG Provider Lens™ Databricks Ecosystem Partners 2026 report
- Happiest Minds is Challenger in Avasant’s Life Sciences Digital Services 2026 RadarView™
- Happiest Minds is Challenger in Avasant’s End-user Computing Services 2024-2025 RadarView™
Announcements:
- The Board of Directors of the Company at their meeting held on May 28, 2026 has recommended a final dividend of ₹ 3.65 per equity share of face value ₹ 2/- for the financial year 2025-26 subject to shareholder approval.