Happiest Minds Q3 FY26 Revenue ₹587 Crore, Up 10.7% YoY; EBITDA Margin 20.4%
Happiest Minds reported Q3 FY26 revenues of ₹587 Crore, a 10.7% year-on-year increase, with an EBITDA margin of 20.4%. The company highlighted its 'AI First. Agile Always.' strategy, with 32 Generative AI & Agentic AI use cases progressing beyond prototypes. Adjusted PAT stood at ₹6,992 Lakhs for the quarter.
The results show positive year-on-year growth, and the strategic focus on AI is a key driver. However, the quarter-on-quarter growth is modest, and the PAT has seen a decrease, which tempers the immediate impact.
The company reported strong year-on-year revenue growth and positive commentary on its AI strategy, which is seen as an opportunity rather than a threat. The management expressed confidence in future growth and profitability.
Happiest Minds Technologies Limited announced its consolidated results for the Third quarter ended December 31, 2025. The company reported revenues of ₹587 Crores, marking a year-on-year growth of 10.7%. The EBITDA margin for the quarter stood at 20.4%.
The company's 'AI First. Agile Always.' strategy is expected to significantly enhance future growth. The Chairman & Chief Mentor, Ashok Soota, highlighted that this strategy, supported by 11 strategic programs, defines how Happiest Minds will build, deliver, and scale value in an AI-driven world. He asserted that recent AI-related market turbulence represents an opportunity, not a threat, for the company.
Sridhar Mantha, CEO of Generative AI Business Services (GBS), discussed the AI Services Delivery Platform, designed for speed, scale, and value, which helps enterprises move AI initiatives from pilots to production. He noted that 32 Generative AI & Agentic AI use cases have moved beyond prototypes and are scaling into full projects. Recent wins include a GenAI-powered sales assistant for an Australian retailer and digital and AI-driven initiatives for an Asian academic institution.
Joseph Anantharaju, Co-Chairman & CEO, emphasized the company's commitment to becoming India's leading AI First customer-centric digital engineering company and highlighted the potential of the AgenticAI approach using a Hybrid Coding paradigm. Venkatraman Narayanan, Managing Director, reported healthy revenue growth and operating and EBITDA margins. He also pointed out that adjusted PAT, excluding non-cash acquisition costs and the one-time wage code charge, stood at 11.6% for the quarter. The company plans to double down on AI/GenAI investments and build a dedicated 1,000+ team by the end of FY27.
For the quarter ended December 31, 2025, revenue in constant currency grew 1.2% q-o-q and 7.1% y-o-y. Operating Revenues in US$ stood at $65.7 million. Total Income was ₹60,328 lakhs, and PAT was ₹4,030 lakhs. Adjusted PAT was ₹6,992 Lakhs with an Adjusted EPS of ₹4.64.
For the nine months ended December 31, 2025, revenue in constant currency grew 10.2% y-o-y. Operating Revenues in US$ stood at $195.2 million. Total Income was ₹177,840 lakhs, EBITDA was ₹36,716 lakhs, and PAT was ₹15,146 lakhs. Adjusted PAT was ₹20,728 Lakhs with an Adjusted EPS of ₹13.77.
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