Happiest Minds Reports Q4 FY26 Results, Highlights 12.3% YoY Revenue Growth
Happiest Minds Technologies Limited released its financial results for the fourth quarter and the full fiscal year ending March 31, 2026. The company reported substantial year-over-year growth, driven by robust performance across its core service lines.Financial Performance Overview (Q4 FY26 & FY26)
The financial data reveals significant growth in total income for the fiscal year 2026. The results are summarized in the following tables:Financial Highlights (All amounts in ₹ Lakhs):
| Particulars | Q4 FY26 | Q3 FY26 | QoQ | Q4 FY25 | YoY | FY 26 | FY 25 | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenues | 60,408 | 58,756 | 2.8% | 54,457 | 10.9% | 2,31,511 | 2,06,084 | 12.3% |
| Other Income | 1,761 | 1,572 | 2,595 | 8,497 | 10,138 | |||
| Total Income | 62,169 | 60,328 | 3.1% | 57,052 | 9.0% | 2,40,008 | 2,16,222 | 11.0% |
| EBITDA | 12,120 | 12,283 | (1.3)% | 10,984 | 10.3% | 48,835 | 46,224 | 5.6% |
| % | 19.5% | 20.4% | 19.3% | 20.3% | 21.4% | |||
| Operating Margin | 10,621 | 10,087 | 5.3% | 8,125 | 30.7% | 40,162 | 35,749 | 12.3% |
| % | 17.5% | 17.4% | 14.9% | 17.4% | 17.3% | |||
| Finance Cost | 2,167 | 2,354 | 2,442 | 9,355 | 9,122 | |||
| Depreciation | 1,102 | 1,152 | 1,172 | 4,601 | 4,552 | |||
| Profit before Non Cash/Exceptional | 7,703 | 7,624 | 1.0% | 6,255 | 23.2% | 30,280 | 32,553 | (7.0)% |
| % | 12.4% | 12.6% | 11.0% | 12.6% | 15.1% | |||
| Amortization/Unwinding Interest 1 | 1,150 | 1,150 | 1,178 | 4,600 | 5,151 | |||
| Exceptional Item-New Wage Code Cost | (344) | 2,203 | 1,859 | 1,858 | ||||
| PBT | 8,048 | 5,421 | 48.4% | 5,039 | 59.7% | 28,421 | 25,547 | 11.3% |
| % | 12.9% | 9.0% | 8.8% | 11.8% | 11.8% | |||
| Tax | 1,931 | 1,391 | 1,884 | 7,159 | 7,080 | |||
| % | 3.1% | 2.3% | 3.3% | 3.0% | 3.3% | |||
| PAT | 6,117 | 4,030 | 51.8% | 3,400 | 79.9% | 21,263 | 18,466 | 15.1% |
| % | 9.8% | 6.7% | 6.0% | 8.9% | 8.5% | |||
| Adjusted PAT | 7,136 | 6,992 | 2.1% | 5,762 | 21.3% | 27,863 | 25,475 | 9.4% |
| % | 11.5% | 11.6% | 10.1% | 11.6% | 11.8% | |||
| Adjusted EPS | 4.74 | 4.64 | 3.83 | 18.51 | 16.92 |
Revenue Mix and Sectoral Contribution
The company's total revenue stood at 2,31,511 ₹ Lakhs for FY26, reflecting a 12.3% year-over-year growth. Revenue contribution across various vertical segments shows continued concentration in Banking, Financial Services, and Insurance (BFSI).The sectoral revenue concentration data is presented below:
| Vertical | FY24 (% of Revenues) | FY25Q4 (% of Revenues) | FY25 (% of Revenues) | FY26Q1 (% of Revenues) | FY26Q2 (% of Revenues) | FY26Q3 (% of Revenues) | FY26Q4 (% of Revenues) | FY26 (% of Revenues) |
|---|---|---|---|---|---|---|---|---|
| BFSI | 10.9% | 26.5% | 22.5% | 26.2% | 25.3% | 26.0% | 26.8% | 26.1% |
| Edutech | 23.9% | 17.0% | 18.7% | 16.1% | 15.3% | 14.9% | 16.3% | 15.6% |
| Healthcare | 14.4% | 15.6% | 16.3% | 15.5% | 16.3% | 18.7% | 17.9% | 17.1% |
| HiTech | 14.5% | 13.5% | 14.5% | 12.8% | 13.4% | 12.3% | 11.1% | 12.4% |
| Travel, Media and Entertainment (TME) | 11.9% | 8.5% | 9.0% | 9.8% | 9.6% | 9.3% | 9.2% | 9.5% |
| Retail/CPG | 7.4% | 8.7% | 8.2% | 9.1% | 9.8% | 8.9% | 8.7% | 9.1% |
| Industrial | 7.5% | 6.8% | 7.0% | 6.7% | 6.6% | 6.7% | 6.8% | 6.7% |
| Manufacturing | 6.3% | 2.6% | 3.2% | 3.1% | 3.3% | 2.5% | 2.3% | 2.8% |
| Others | 3.1% | 0.6% | 0.6% | 0.7% | 0.4% | 0.6% | 0.8% | 0.6% |
Operational and Market Presence
Happiest Minds positions itself as an AI First, customer-centric digital engineering company. The company highlights its capabilities across multiple business domains:- Digital Engineering Services: Offerings include Product and Digital Engineering Services (PDES), covering Digital Foundry, Startup Technology Acceleration, Platform Engineering, Device Engineering, Quality Engineering, and Consulting and Domain-led Offerings.
- AI and Analytics: The firm provides services in Modern Data Warehouse, AI & Data Science, including Data Lakes and Stream Analytics.
- Generative AI Business Services (GBS): Key areas include Generative AI Solutions, Generative AI Custom Models, Full-Scale Agentic AI Offerings, Agentic AI Platforms & Solutions Development, and Consulting.
- Infrastructure Management: Services encompass Cloud & DC Infrastructure, Digital Workspaces, Networks, ITSM/ITOM Tools & Platforms, Security, Cyber, Infrastructure & Data Security, and Identity & Access Management.
- Next-Gen Technologies: The firm also focuses on Quantum Machine Learning and Physical AI.
Client Footprint:
Happiest Minds reports engaging with 306+ Active Clients, including 91 Fortune 2000 / Forbes 200 Billion dollar Corporations. The company emphasizes a high repeat business rate of 92.6%.
Global Presence:
The company maintains a global presence across multiple regions and countries, including:
- Americas: USA (Austin, Texas, Denver, Las Vegas, New Jersey, New York, San Jose, Seattle), Canada (Toronto), Mexico (Mexico City).
- UK Europe & UK: Berkshire, Doncaster, London, Germany (Cologne), Romania (Bucharest), The Netherlands (Amsterdam).
- Asia, Africa & Middle East: Hong Kong, UAE, Singapore, Malaysia (Kuala Lumpur), Kenya (Nairobi), Dubai (Sultanate of Oman), and the Kingdom of Saudi (Riyadh).
- India: With 16 Offices located in key cities such as Bengaluru (HQ), Bhubaneswar, Chennai, Coimbatore, Delhi, Gurgaon, Hyderabad, Kochi, Madurai, Noida, and Pune.
People and Corporate Status:
The company reported having 6,497 Happiest Minds employees across 16 countries, maintaining a 27% gender diversity. Happiest Minds was recognized as Top Employer India 2026 for People-First Practices.
HAPPSTMNDS Stock Price Movement
On Wednesday, Happiest Minds Technologies Limited shares edged higher, gaining 0.28% to close at ₹378.60. The stock saw notable activity on the session, trading on a volume of 537,529 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.