Happiest Minds Technologies Ltd. has reported a strong start to FY26, delivering consolidated Q1 revenues of US$ 64.4 million, marking a 2.3 percent sequential growth and a 17.5 percent year-on-year surge in constant currency. The Bengaluru-headquartered digital transformation firm also posted an EBITDA of ₹124 crore, representing 21.4 percent of total income, reinforcing its operational efficiency and strategic execution.
Key Financial Highlights
Revenue in constant currency grew 2.3 percent quarter-on-quarter and 17.5 percent year-on-year
Operating revenue stood at US$ 64.4 million, up 15.9 percent year-on-year
Total income reached ₹579.93 crore, a 1.7 percent sequential and 18.5 percent annual increase
EBITDA rose 12.9 percent quarter-on-quarter and 6.3 percent year-on-year to ₹124.05 crore
PAT surged 68 percent quarter-on-quarter to ₹57.13 crore, up 12 percent year-on-year
Adjusted PAT stood at ₹68.62 crore, up 19.1 percent sequentially
Adjusted EPS came in at ₹4.55
This marks the company’s 20th consecutive quarter of growth, underscoring its resilience and strategic focus on high-impact digital solutions.
Operational Metrics and Client Expansion
Client Base and Engagements
Total active clients: 285 as of June 30, 2025
17 new client additions during the quarter
Key wins include:
GenAI services for a multinational logistics firm
Cloud migration for a US healthcare company
LMS platform development for a US-based education provider
Cybersecurity implementation for an Australian mining services firm
Data modernization for an Australian homewares retailer
Talent and Utilization
Total headcount: 6,523 employees
Utilization improved to 78.9 percent from 77.3 percent in the previous quarter
Attrition rose slightly to 18.2 percent from 16.6 percent
Happiest Minds continues to invest in AI capabilities and sales enablement, positioning itself as a preferred partner for digital transformation across industries.
Strategic Focus and Technology Differentiation
The company’s verticalized structure and deep expertise in Generative AI, cybersecurity, and data engineering are driving client wins and long-term partnerships
Happiest Minds is executing ten strategic transformations aimed at scaling impact and enhancing delivery
The firm remains committed to mindful execution, customer-centricity, and technology leadership
These initiatives are expected to sustain double-digit growth and support the company’s ambition of achieving three consecutive years of such performance.
Recognition and Industry Positioning
Winner of CNBC-TV18 India Risk Management Award 2025
Featured as a ‘Seasoned Vendor’ in AIM Research’s PeMa Quadrant for Data Engineering Services
Listed as an ‘Aspirant’ in Everest Group’s Intelligent Process Automation PEAK Matrix Assessment
These accolades reflect Happiest Minds’ growing influence in the digital engineering and automation space.
Outlook and Investor Takeaways
The company is well-positioned to capitalize on demand for AI-led transformation and cloud-native solutions
Strong financials and consistent client additions suggest continued momentum
Investors may find value in Happiest Minds’ differentiated offerings and disciplined execution
With a sharp focus on innovation and operational excellence, Happiest Minds is poised to deliver sustainable growth and long-term shareholder value.
Source: Happiest Minds Website – July 29, 2025 CXOToday – July 29, 2025 Finance Yahoo – July 29, 2025 FT Markets – July 29, 2025 PR Newswire – July 29, 2025
