Happiest Minds Technologies Ltd. · NSE:HAPPSTMNDS
Happiest Minds Technologies — Q4 FY26 Earnings Presentation
30 slides from Happiest Minds Technologies's earnings presentation, 2026
Slide 1: Investor Presentation Q4 FY26 & FY26
Investor Presentation Q4 FY 26 & FY 26
Slide 2: Happiest Minds
Happiest Minds AI First customer-centric digital engineering company 306+ Active Clients 6,497 91 Fortune2000 / Forbes200 Happiest Minds Billion $ Corporations across 16 Countries 92.6% Repeat Business 27% Gender Diversity Mission Statement Happiest People Vision - DELiGHT Design for Perpetuity | ES
Slide 3: Mission, Vision and Values
Mision, Vision and Values. Driven by our Mission. Inspired by our Vision - DELiGHT Design for ESG Thought Profitable Ambassador for World Class Perpetuity Excellence Leadership Growth Happiness Team Happiest People. Happiest Customers. D E L iG H T Grounded in Values - SMILES Sharing Mindful Integri
Slide 4: AI First. Agile Always.
AI First. Agile Always. Built for the AI-Native Enterprise AI-First by Design Proven at Scale Multiple GenAI & Agentic AI use cases have GenAI and Agentic AI are core to how moved from early prototypes to live, we design, build, and deliver solutions. repeatable solutions for clients. AI-Native Deli
Slide 5: Enterprise AI Platform
Enterprise AI Platform Unlocking Value at Scale AI-POWERED BUSINESS & INDUSTRY SOLUTIONS Agentic Industry AI OUR AI SOLUTIONS Digital Cloud & Cybersecurity Co-Worker Agentic Ops Workflows Solutions Driving enterprise transformation across the value chain Rel(AI)Build ENTERPRISE AI PLATFORM SecAIGeni
Slide 6: Our Business
Our Business IoT Blockchain DevOps & Product & Digital Cloud RPA Engineering Services Generative AI Business Services Software Defined BPM & Networking / NFV Agile and Secure Integration Infrastructure Services Big Data & Advanced Security Analytics Industry Groups (IG) BFSI EdTech Healthcare & Life
Slide 7: Our Business
Our Business Our Business PDES GBS IMSS Product and Digital Engineering Services Generative AI Business Services Infrastructure Management and Security Services Infrastructure ▪ Digital Foundry ▪ Generative AI Solutions ▪ Cloud & DC Infrastructure ▪ Startup Technology ▪ Generative AI Custom Models ▪
Slide 8: Client engagements across industries
For a US print and communication company For an US based insurance and For a US print and For an Industrial Service & financial software services provider communication company Maintenance Company Happiest Minds is streamlining their vendor Happiest Minds is driving platform Happiest Minds is delive
Slide 9: Coca-Cola Beverages Vietnam Gen AI success (1/3)
1/3 Successfully Enhanced Productivity and Successfully Designed and Developed Successfully Enhanced User Efficiency at Coca-Cola Beverages a GenAI-based Research Assistant for Experience for Happiest Health with a Vietnam with an Innovative Gen AI SKAN Research Trust Personalized Generative AI Chat
Slide 10: Morgan Sindall Property Services IoT platform (2/3)
2/3 Successfully helped Successfully Automated GRC for Happiest Minds and Dywidag together Morgan Sindall Property Services in Cutover UK by Leveraging the Alyne Implemented an Integrated, Connected Enabling Safe, Healthy & Sustainable Platform Digital IoT Platform that would provide AI Spaces With
Slide 11: Trusted Digital Transformation Partner for Clicklease (3/3)
3/3 Successfully Migrates VMware to AWS Successfully Executed a Digital Trusted Digital Transformation Cloud for Can Capital Transformation Project for Coca Cola Partner for Clicklease Bottling Company United for Streamlining its Order Management with Technology Transformation in Microsoft Power Aut
Slide 12: Top Employer India 2026 recognition
Happiest Minds was recognized Joseph Anantharaju was conferred as Top Employer India 2026 for with the Distinguished Alumnus People-First Practices Award 2026 by BITS Pilani in the Corporate Leadership category ©Happiest Minds Confidential. 11
Slide 13: Analyst recognitions
EVEREST EVEREST ARC ADVISORY ISG Star Performer and a Major Contender in Everest Group’s Major Player in Arc Advisory Group’s Major Contender in ISG Provider Software Product Engineering ARC Supplier MarketMap for Lens Databricks Ecosystem Services PEAK Matrix® Assessment Engineering Services by Glo
Slide 14: Financial and Operational Performance
Financial and Operational Performance Q4 FY 26 & FY 26 14
Slide 15: Results Q4 & FY26
Results Q4 & FY 26 All amounts in ₹ Lakhs unless stated otherwise Particulars Q4 FY26 Q3 FY26 QoQ Q4 FY25 YoY FY 26 FY 25 YoY Note: 1. Amortization/Unwinding interest are non- Revenues 60,408 58,756 2.8% 54,457 10.9% 2,31,511 2,06,084 12.3% cash items related to acquisitions 2. Adjusted PAT is Adjus
Slide 16: Revenues
Revenues Agile % of Revenue 94.5% 94.5% 94.2% 93.8% 93.7% 93.4% 93.3% 91.9% 91.6% FY 24 FY 25 FY 26 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Q4 26 Business Unit Total Income Total Income (₹ Lakhs) 4.1% 17.1% 2,40,008 2,16,222 171,003 1,45,040 1,13,075 55,377 57,052 57,993 59,518 60,328 62,169 78.7% PDES IMSS G
Slide 17: Profitability
Profitability Operating Margin EBITDA 17.4% 20.3% 21.4% 21.0% 20.9% 24.6% 17.4% 14.9% 17.7% 17.0% 17.5% 21.4% 20.2% 20.4% 19.5% 17.5% 21.1% 19.3% 24.3% 20.9% 18.1% 26.2% 34,042 24.6% 35,971 21.4% 9,269 40,162 8,125 9,722 9,733 10,087 10,621 42,122 46,224 48,835 11,686 10,984 12,405 12,027 12,282 12,
Slide 18: People
People Utilization 77.3% 81.1% 78.0% 77.4% 78.9% 80.7% 82.0% 81.4% 75.5% 5,168 6,632 6,497 6,630 6,632 6,523 6,554 6,548 6,497 FY 24 FY 25 FY 26 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Q4 26 Offshore / Onsite Voluntary Attrition % 1 18.2% 16.6% 17.0% 16.6% 17.4% 17.4% 17.0% 95.9% 94.2% 93.5% 95.7% 94.2% 94.2%
Slide 19: Revenue
Revenue Contract Model Geography 8.9% 7.6% 29.8% 8.3% 58.2% 17.1% 70.2% Americas India Europe APAC ROW T&M FP Tech Split 6.2% Verticals 2.1% 10.2% 2.3% 0.8% 5.9% 6.8% 9.2% 26.8% 8.7% 22.6% 11.1% 16.3% 53.0% 17.9% AI / Analytics Digital Infra / Cloud SAAS Security IoT Others BFSI Edu Tech Healthcare
Slide 20: Revenue
Revenue Concentration Customer age and Revenue Contribution 0-5 yrs > 5 yrs 55.8% 40.9% 42% 44% 48% 27.0% 52% 56% 58% FY 24 FY 25 FY 26 Top 5 Top 10 Top 20 Million $ Customers Active Customers 306 297 306 281 281 285 290 278 250 57 56 57 59 58 58 52 52 48 FY 24 FY 25 FY 26 Q3 25 Q4 25 Q1 26 Q2 26 Q3
Slide 21: Revenue
Revenue Onsite/Offshore Average Revenue / Active Customer (USD ‘000) 917 917 910 906 898 896 864 864 794 85.6% 88.4% 87.6% 89.2% 88.0% 88.9% 87.5% 87.9% 86.2% 14.4% 11.6% 12.4% 10.8% 12.0% 11.1% 12.5% 12.1% 13.8% FY 24 FY 25 FY 26 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Q4 26 FY 24 FY 25 FY 26 Q3 25 Q4 25 Q1
Slide 22: Data Sheet
Data Sheet % of Revenues FY 24 FY25 Q4 FY 25 FY26 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY 26 Verticals BFSI 10.9% 26.5% 22.5% 26.2% 25.3% 26.0% 26.8% 26.1% Edutech 23.9% 17.0% 18.7% 16.1% 15.3% 14.9% 16.3% 15.6% Healthcare 14.4% 15.6% 16.3% 15.5% 16.3% 18.7% 17.9% 17.1% Hitech 14.5% 13.5% 14.5% 12.8% 13.4% 12
Slide 23: Data Sheet
Data Sheet FY 24 FY25 Q4 FY 25 FY26 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY 26 Revenue by Geo USA 70.7% 62.3% 64.6% 59.5% 60.0% 59.8% 58.2% 59.3% India 16.3% 14.9% 15.6% 17.6% 18.3% 17.3% 17.1% 17.6% Europe 8.9% 7.3% 8.1% 7.4% 8.1% 7.2% 8.3% 7.8% APAC - 6.8% 5.3% 7.5% 6.4% 7.4% 7.6% 7.2% ROW 4.1% 8.7% 6.4% 8.
Slide 24: Data Sheet
Data Sheet FY 24 FY25 Q4 FY 25 FY26 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY 26 Happiest Minds Onsite 211 385 385 378 397 418 423 423 Offshore 4,957 6,247 6,247 6,145 6,157 6,130 6,074 6,074 Onsite % 4.1% 5.8% 5.8% 5.8% 6.1% 6.4% 6.5% 6.5% Offshore % 95.9% 94.2% 94.2% 94.2% 93.9% 93.6% 93.5% 93.5% Utilization
Slide 25: Data Sheet
Data Sheet All figures in ₹ Lakhs FY 24 YoY FY25 Q4 FY 25 YoY FY26 Q1 FY26 Q2 FY 26 Q3 FY 26 Q4 FY 26 YOY Revenue by BU Revenue Revenue Mix% Revenue Mix% Revenue Mix% Growth% Revenue Mix% Revenue Mix% Revenue Mix% Revenue Mix% Revenue Mix% Growth% IMSS 29,746 29,746 17.4% 8,919 15.6% 32,832 15.2% 10
Slide 26: Profit & Loss
Profit & Loss All figures in ₹ Lakhs FY 24 FY 25 FY26 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY 26 Income Operating revenue 1,62,466 2,06,084 54,990 57,357 58,756 60,408 2,31,511 Other Income 8,537 10,137 3,003 2,161 1,572 1,761 8,497 Total income 1,71,003 2,16,222 57,993 59,518 60,328 62,169 2,40,008 Cost of r
Slide 27: Balance Sheet
Balance Sheet All figures in ₹ Lakhs FY 2024 FY 2025 Q1 FY26 Q2 FY26 Q3 FY26 FY 2026 Assets Non-Current Property, plant and equipment 13,778 14,096 13,974 13,806 13,631 13,476 Goodwill 14,032 76,230 76,273 76,776 76,941 77,728 Financial & Other assets 19,192 45,485 44,347 45,377 43,539 63,751 Total
Slide 28: Pertinent Ratios
Pertinent Ratios FY24 Q4 FY25 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 FY 26 Additional Balance Sheet Ratios Debt-Equity 0.35 0.79 0.79 0.78 0.78 0.80 0.88 0.88 Debt Service Coverage (DSCR) 5.25 5.81 6.31 5.32 5.01 5.31 5.19 5.26 Interest Service Coverage (ISCR) 8.97 3.63 3.94 4.24 3.99 4.26 4.61 4.26 C
Slide 29: Presence
Presence Americas Europe & UK Asia, Africa & Middle East Australia India 16 Offices USA UK Hong Kong UAE HQ: Bengaluru Austin, Texas Berkshire Sydney Dubai Bhubaneswar Denver Doncaster Singapore Chennai Las Vegas London Sultanate of Oman Coimbatore New Jersey Malaysia Oman Delhi New York Germany Kua
Slide 30: Thank You
Thank You Happiest People · Happiest Customers India | United States | United Kingdom | Canada | Australia | Dubai | Oman www.happiestminds.com 30
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