IT Consulting & Software company Happiest Minds Technologies announced Q3FY26 results Revenue: Rs 65,744 lakh against Rs 62,719 lakh during Q3FY25, change 5%. EBITDA: Rs 12,283 lakh against Rs 11,686 lakh during Q3FY25, change 5%. EBITDA Margin: 20.4% for Q3FY26. PBT: Rs 5,421 lakh against Rs 6,894 lakh during Q3FY25, change -21%. PBT Margin: 9% for Q3FY26. PAT: Rs 4,030 lakh against Rs 5,010 lakh during Q3FY25, change -20%. PAT Margin: 6.7% for Q3FY26. EPS: Rs 4.64 for Q3FY26. Ashok Soota, Chairman & Chief Mentor, said: “With AI First. Agile Always., we have launched AI First as our 11th strategic transformation, supported by 11 strategic programs that together define how Happiest Minds will build, deliver, and scale value in an AI-driven world. We have already made considerable progress across several of these programs, and we expect this momentum to accelerate the growth of Happiest Minds. This is clearly visible in how AI is being operationalized across our company and for our clients. I would also like to take cognisance of a recent AI-related announcement that has created some turbulence in global markets for software companies. I want to assert that this development represents an opportunity, not a threat, for Happiest Minds and, we believe, for other IT services companies as well.” Sridhar Mantha, CEO, Generative AI Business Services (GBS), Happiest Minds, said: “ A key pillar of this journey is our AI Services Delivery Platform built for speed, scale and value. The platform brings together proven frameworks, reusable components and intelligent agents to help enterprises move AI initiatives from pilots to production. It is already in use with customers and is designed to reduce time to market while improving service delivery productivity across all industries we serve. Solutions built on this platform are delivering tangible outcomes today. Following its successful implementation with a healthcare customer, the platform is now being scaled across verticals to accelerate time to market and improve service delivery productivity. Our AI First spans four areas—building advanced AI solutions, AI-native software development, ITSM, and cybersecurity. We are delivering AI assistants that go beyond chatbots, domain-specific copilots embedded in workflows, and intelligent search tools that boost productivity. At the platform level, we modernize legacy systems, integrate autonomous workflows, and add governance agents to ensure compliance, while in operations we provide AI-powered support agents, sales automation, and predictive insights that reduce costs and improve performance. We now have 32 Generative AI & Agentic AI use cases that have successfully moved beyond prototypes, many of which are scaling into full projects with the potential to be replicated across dozens of accounts in multiple verticals. Our recent wins demonstrate how our AI First strategy is moving from experimentation to real business transformation. Partnering with a premium interiors retailer in Australia to build a GenAI powered sales assistant that enables image, text and voice-based product discovery, automated quote generation and seamless customer onboarding through natural language interactions. Collaborating with a leading academic and research institution in Asia to transform their end-to-end operations through digital and AIdriven initiatives, enabling a future-ready campus experience.” Joseph Anantharaju, Co-Chairman & CEO, Happiest Minds, said: “Happiest Minds has embraced becoming India’s leading AI First customer-centric digital engineering and Mindful IT company, helping clients to transition and succeed in an AI-competitive world. AI First also aligns with our customers’ shift from using AI at the edges to making it the core of their business strategy. We are excited about the scale and depth of impact towards improving productivity and delivering value to our customers. We believe that AgenticAI approach using a Hybrid Coding paradigm – Coding Agents and Human Developers – presents a huge untapped opportunity of modernizing applications and platforms that customers were shying away from because of lack of business logic understanding and the risk this posed while also getting huge productivity enhancements. We are in discussion with several customer and PE firms and their portfolio companies to help address their tech debt in a cost-efficient and risk-free manner.” Venkatraman Narayanan, Managing Director, said: “We continue to deliver healthy revenue growth and operating and EBITDA margins in line with our commitments. I would like to draw your attention to the adjusted PAT, which, excluding non-cash acquisition costs and the one-time wage code charge, stood at 11.6% in the quarter, compared to 11.0% in the previous quarter. Supported by robust cash flows and a steadfast focus on long-term value creation through our AI First approach, we remain well positioned to drive sustainable growth, profitability, and returns for our stakeholders. We plan to double down on our AI/GenAI investments and build a dedicated 1,000+ team by the end of FY27.” Result PDF
Conference Call with Happiest Minds Technologies Management and Analysts on Q3FY26 Performance and Outlook. Listen to the full earnings transcript.