Happiest Minds Technologies Ltd. · NSE:HAPPSTMNDS
Happiest Minds Technologies — Q1 FY27 Earnings Presentation
25 slides from Happiest Minds Technologies's earnings presentation, 2026
Slide 1: Investor Presentation Q1 FY27
Investor Presentation Q1 FY 27 1
Slide 2: Happiest Minds
Happiest Minds AI First customer-obsessed digital engineering and Mindful IT company 300+ Active Clients Great Place To Work® Top 100 India’s Best Workplaces 90+ Fortune2000 / Forbes200 in IT & IT-BPM for 2024 Top 100 India’s Best Workplaces Billion $ Corporations for Women 2024 Top 50 India’s Best
Slide 3: 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 4: 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 5: 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 Applications ▪ Cloud & DC Infrastructure ▪ Startup Technology ▪ Generative AI Custom Models ▪ Digital W
Slide 6: Client engagements and wins
For a N. American wireless services provider For a N. American energy For a N. American wireless For a N. American solutions infrastructure company services provider provider Happiest Minds has been selected as the Happiest Minds is leveraging AI led ELLIPSE Happiest Minds is delivering Managed stra
Slide 7: Ashok Soota recognized in the AIM 100
Ashok Soota has been recognized in the AIM 100 Preeti Menon has been recognized among the AIM under the Specialist Forces category. Top 24 Women Enterprise AI Leaders in India. ©Happiest Minds Confidential. 7
Slide 8: Analyst recognitions: Everest, ISG, Avasant
EVEREST ISG ISG’s Digital Engineering Services (Midsize) 2026 US Region: • Product Challenger in Augmented Design and R&D Services & Integrated Platform and Application Top 50 Store Services Services. Providers 2026 List • Contender in Intelligent Operations and Connected Experiences Europe Region:
Slide 9: Financial and Operational Performance
Financial and Operational Performance Q1 FY 27 9
Slide 10: Results Q1 FY27
Results Q1 FY27 All amounts in ₹ Lakhs unless stated otherwise Particulars Q1 FY27 Q4 FY26 QoQ Q1 FY26 YoY Note: 1. Amortization/Unwinding interest are non- Revenues 62,851 60,408 4.0% 54,990 14.3% cash items related to acquisitions 2. Adjusted PAT is calculated excluding Other Income 2,369 1,761 3,
Slide 11: Revenues
Revenues Agile % of Revenue 94.5% 94.5% 94.2% 93.7% 93.7% 93.4% 93.3% 91.6% FY 24 FY 25 FY 26 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Business Unit Total Income (₹ Crores) 5.4% 16.3% 2,400 2,162 1,710 580 560 603 621 652 78.3% PDES IMSS GBS FY 24 FY 25 FY 26 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 1
Slide 12: Profitability
Profitability Operating Margin (₹ Crores) EBITDA (₹ Crores) 20.3% 17.4% 21.4% 24.6% 20.9% 17.5% 21.4% 20.4% 19.5% 21.7% 17.6% 17.0% 17.4% 17.5% 17.5% 20.2% 24.3% 20.9% 18.1% 340 26.2% 356 24.6% 401 21.4% 97 97 108 106 108 421 462 489 124 120 122 121 141 FY 24 FY 25 FY 26 Q1 FY26 Q2 FY26 Q3 FY26 Q4 F
Slide 13: People
People Utilization 80.7% 82.0% 77.3% 81.1% 78.9% 81.4% 80.9% 75.5% 5,168 6,632 6,497 6,523 6,554 6,548 6,497 6,532 FY 24 FY 25 FY 26 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Offshore / Onsite Voluntary Attrition % 1 18.2% 17.0% 17.4% 17.4% 17.0% 16.6% 15.4% 13.0% 95.9% 94.2% 93.5% 94.2% 93.9% 93.6% 9
Slide 14: Revenue
Revenue Contract Model Geography 8.7% 8.2% 30.8% 7.9% 56.9% 69.2% 18.3% T&M FP Americas India Europe APAC ROW Tech Split 1.5% 6.7% 11.6% Verticals 5.8% 2.8% 0.4% 5.7% 8.6% 26.8% 8.9% 21.4% 12.2% 16.3% 53.1% 18.4% AI / Analytics Digital Infra / Cloud SAAS BFSI Edu Tech Healthcare HiTech (others) Reta
Slide 15: Revenue
Revenue Concentration Customer age and Revenue Contribution 0-5 yrs > 5 yrs 58.3% 42.1% 44% 42% 48% 28.4% 52% 56% 58% FY 24 FY 25 FY 26 Top 5 Top 10 Top 20 Million $ Customers Active Customers 306 297 306 306 281 285 290 250 57 59 58 58 52 52 52 48 FY 24 FY 25 FY 26 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q
Slide 16: Revenue
Revenue Onsite/Offshore Average Revenue / Active Customer (USD ‘000) 917 910 906 896 864 864 866 794 85.6% 88.4% 87.6% 88.9% 87.5% 87.9% 86.2% 85.4% 14.4% 11.6% 12.4% 11.1% 12.5% 12.1% 13.8% 14.6% FY 24 FY 25 FY 26 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 FY 24 FY 25 FY 26 Q1 FY26 Q2 FY26 Q3 FY26 Q4
Slide 17: Data Sheet
Data Sheet FY 24 FY 25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 FY 26 Q1 FY27 Verticals BFSI 10.9% 22.5% 26.2% 25.3% 26.0% 26.8% 26.1% 26.8% Edutech 23.9% 18.7% 16.1% 15.3% 14.9% 16.3% 15.6% 16.3% Healthcare 14.4% 16.3% 15.5% 16.3% 18.7% 17.9% 17.1% 18.4% Hitech 14.5% 14.5% 12.8% 13.4% 12.3% 11.1% 12.4% 12.2
Slide 18: Data Sheet
Data Sheet FY 24 FY 25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 FY 26 Q1 FY27 Revenue by Geo USA 70.7% 64.6% 59.5% 60.0% 59.8% 58.2% 59.3% 56.9% India 16.3% 15.6% 17.6% 18.3% 17.3% 17.1% 17.6% 18.3% Europe 8.9% 8.1% 7.4% 8.1% 7.2% 8.3% 7.8% 7.9% APAC - 5.3% 7.5% 6.4% 7.4% 7.6% 7.2% 8.2% ROW 4.1% 6.4% 8.0% 7.
Slide 19: Data Sheet
Data Sheet FY 24 FY 25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 FY 26 Q1 FY27 Onsite 211 385 378 397 418 423 423 452 Offshore 4,957 6,247 6,145 6,157 6,130 6,074 6,074 6,080 Onsite % 4.1% 5.8% 5.8% 6.1% 6.4% 6.5% 6.5% 6.9% Offshore % 95.9% 94.2% 94.2% 93.9% 93.6% 93.5% 93.5% 93.1% Utilization 75.5% 77.3% 78.
Slide 20: Data Sheet
Data Sheet All figures in ₹ Lakhs FY 24 YoY FY 25 YoY FY 26 YoY Q1 FY26 Q2 FY26 Q3 FY 26 Q4 FY 26 Q1 FY27 Revenue by BU Revenue % Growth Revenue % Growth% Revenue % Growth% Revenue % Revenue % Revenue % Revenue % Revenue % IMSS 29,746 17.4% -3.1% 32,832 15.2% 10.4% 38,909 16.2% 18.5% 9,445 16.3% 9,3
Slide 21: Profit & Loss
Profit & Loss All figures in ₹ Lakhs FY 24 FY 25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 FY 26 Q1 FY27 Income Operating revenue 1,62,466 2,06,084 54,990 57,357 58,756 60,408 2,31,511 62,851 Other Income 8,537 10,137 3,003 2,161 1,572 1,761 8,497 2,369 Total income 1,71,003 2,16,222 57,993 59,518 60,328 62,1
Slide 22: Balance Sheet
Balance Sheet All figures in ₹ Lakhs FY 2024 FY 2025 Q1 FY26 Q2 FY26 Q3 FY26 FY 2026 Q1 FY27 Assets Non-Current Property, plant and equipment 13,778 14,096 13,974 13,806 13,631 13,476 13,408 Goodwill 14,032 76,230 76,273 76,776 76,941 77,728 77,703 Financial & Other assets 19,192 45,485 44,347 45,37
Slide 23: Pertinent Ratios
Pertinent Ratios FY24 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 FY 26 Q1 FY27 Debt-Equity 0.35 0.79 0.78 0.78 0.80 0.88 0.88 0.93 Debt Service Coverage (DSCR) 5.25 6.31 5.32 5.01 5.31 5.19 5.26 5.47 Interest Service Coverage (ISCR) 8.97 3.94 4.24 3.99 4.26 4.61 4.26 4.17 Current Assets to Current Liabili
Slide 24: Expanding Global Footprint
Expanding Global Footprint Americas 11 Offices Europe & UK 4 Offices Asia, Africa & Middle East 11 Offices Australia 2 Offices India 19 Offices USA UK HQ: Bengaluru (4) Hong Kong UAE Austin, Texas (2) Berkshire Sydney Bhubaneswar Dubai (2) Denver Doncaster Singapore Chennai (2) Las Vegas London Sult
Slide 25: THANK YOU
THANK YOU Happiest People · Happiest Customers Graphical user interface, application, chat or text message Graphical user interface, application, chat or text message Graphical user interface, application, chat or text message Graphical user interface, application, chat or text message Graphical use
Happiest Minds Technologies — Q1 FY27 Earnings Presentation on 6ix