Happiest Minds Technologies Limited has informed the Exchange regarding 'Transcript of Earnings Call held on July 30, 2025'.
HAPPSTMNDS · price
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Happiest Minds reported Q1 FY26 revenue of $64.4 million (₹580 crore total income, up 18.5% YoY) with constant currency growth of 17.5% YoY and 2.3% sequentially. EBITDA stood at ₹124 crore at a 21.4% margin, within the guided 20–22% band, with a strong 12.9% sequential rise. PAT was ₹57 crore and adjusted EPS came in at ₹4.55. The GenAI business unit broke even at the operating level after a ₹2.5 crore loss last quarter, with 89.8% YoY revenue growth. Management reiterated its aim of double-digit constant currency growth for FY26 while keeping EBITDA margins in the 20–22% range. Utilization improved to 78.9% (9-quarter high) but attrition rose to 18.2% and DSO widened to 91 days. Wage hikes planned for Q2 and softness in the Hi-tech vertical (including a bad debt hit) were flagged as near-term concerns.
The results show resilient growth and steady margins, but planned wage increases, rising attrition, and a soft Hi-tech vertical could pressure margins in Q2. The $1 billion FY31 target remains aspirational rather than committed, keeping the stock's growth-versus-execution story in focus for investors.