Happiest Minds Technologies Limited has informed the Exchange regarding 'Transcript of Earnings Call held on October 29, 2025'.
HAPPSTMNDS · price
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Happiest Minds reported H1 FY26 revenue of $129.5 million (up 11.8% in constant currency) and INR 1,123 crores (up 14% YoY), with EBITDA margin of 20.8%. Q2 revenue grew 2.3% sequentially in constant currency to $65.2 million, with EBITDA margin of 20.2%. The Generative AI business (GBS) was the standout, growing 77.8% YoY in Q2 with 22 replicable use cases representing $50 million revenue potential over 3-4 years. The new Net New sales unit added 30 new clients in H1 generating $9 million in revenue and $50-60 million pipeline potential. Management raised its growth commitment from 3 to 4 consecutive years of double-digit revenue growth (through FY28) and reaffirmed FY26 guidance of double-digit CC growth and 20-22% EBITDA margins. Utilization hit a 3-year high of 80.7%, attrition moderated to 17.4%, and the Board declared a dividend of INR 2.75.
Strong H1 results with margin improvement outlook, raised multi-year growth commitment, and visible AI-led momentum are positive signals for shareholders. Improved utilization and recovering verticals (BFSI, EdTech bottoming out, IMSS deal pushed to Q3) support the FY26 guidance, though SG&A intensity remains a watch point as the company invests in sales and verticalization.