IT Consulting & Software company Happiest Minds Technologies announced Q2FY26 results Revenue in constant currency grew 2.3% QoQ and 6.7% YoY. Operating Revenues in USD stood at USD 65.1 million, growing 1.2% QoQ and 4.4% YoY. Total income of Rs 59,517 lakh grew 2.6% QoQ and 8.5% YoY. EBITDA of Rs 12,027 lakh stood at 20.2% of Total Income. PAT of Rs 5,402 lakh 9.1% of Total Income. Growth of 9.1% YoY. Adjusted PAT and EPS (adjusted only for non-cash charges and exceptional items), a more reliable profitability measures stood at: Adjusted PAT of Rs 6,552 lakh at 11% of Total income. Growth of 3.1% YoY. Adjusted EPS at Rs 4.35. Ashok Soota, Chairman & Chief Mentor, said: “Our ten strategic transformations, announced in the last quarter of FY25, are clearly yielding results. Organisationally, the most important of these was Joseph Anantharaju becoming the Co-Chairman and CEO. Joseph has settled into his enhanced responsibilities remarkably well, as reflected in our performance. Of the other strategic changes, I would like to highlight two that have contributed significantly and are poised to accelerate growth - our Generative AI Business Unit (GBS) and our sharper focus on expanding Net New (NN) accounts. The momentum we are seeing in GBS and the strength of our NN pipelines give us the confidence to extend our earlier commitment of three consecutive years of double-digit growth to four years.” Joseph Anantharaju, Co-Chairman & CEO, said: “We have delivered a robust H1FY26 performance with revenues of USD 129.5 million, reflecting the continued success of our ten strategic transformations. Our success in Generative and Agentic AI is evident from 22 transformative use cases that have progressed into replicable projects, unlocking a GBS-led sales potential of nearly USD50 million. Our investment in an independent Net New (NN) sales unit has also delivered strong early outcomes, with 30 new client additions during H1 representing a revenue potential of about USD 50–60 million over the next three years. Agentic AI is creating significant opportunities as customers embrace intelligent automation to reimagine operations and accelerate growth. Our AI-first approach, anchored on platforms with AI at the core of their architecture, is enabling enterprises to drive transformation with speed, precision, and measurable impact. Combined with deep capabilities in data, cybersecurity, and verticalized delivery, we are confident of sustaining our growth momentum and creating long-term value.” Venkatraman Narayanan, Managing Director, said: “Our H1FY26 performance reflects disciplined execution and prudent financial management, even as we continue to invest in growth. We have maintained margins comfortably above our lower guidance of 20% despite salary revisions and continued investments in our Generative AI Business Unit, new sales organization, and other strategic initiatives outlined earlier. I would also like to reiterate that recent changes in U.S. immigration (H1-B) policies have had no impact on Happiest Minds, we have sent only two professionals on H1-B visas in the past 12 months, underscoring our strong offshore-led model and minimal onsite dependence. Backed by a robust balance sheet, healthy cash flows, and a steadfast focus on long-term value creation, we remain wellpositioned to drive sustainable growth and deliver consistent returns to our stakeholders.” Result PDF