| Scrip Code | 543227 |
|---|---|
| NSE Symbol | HAPPSTMNDS |
| MSEI Symbol | NOTLISTED |
| ISIN | INE419U01012 |
| Name of company | HAPPIEST MINDS TECHNOLOGIES LIMITED |
| Type of company | Main Board |
| Class of security | Equity |
| Date of start of financial year | 01-04-2026 |
| Date of end of financial year | 31-03-2027 |
| Date of board meeting when results were approved | 27-07-2026 |
| Date on which prior intimation of the meeting for considering financial results was informed to the exchange | 16-07-2026 |
| Description of presentation currency | INR |
| Level of rounding used in financial results | Lakhs |
| Reporting Type | Quarterly |
| Reporting Quarter | First quarter |
| Nature of report standalone or consolidated | Consolidated |
| Whether results are audited or unaudited for the quarter ended | Unaudited |
| Whether results are audited or unaudited for the Year to date for current period ended/year ended | |
| Segment Reporting | Multi segment |
| Description of single segment | |
| Start date and time of board meeting | 27-07-2026 18:00:00 |
| End date and time of board meeting | 27-07-2026 18:30:00 |
| Whether cash flow statement is applicable on company | |
| Type of cash flow statement | |
| Declaration of unmodified opinion or statement on impact of audit qualification | Not applicable |
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-04-2026 | 01-04-2026 |
| B | Date of end of reporting period | 30-06-2026 | 30-06-2026 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| D | Nature of report standalone or consolidated | Consolidated | Consolidated |
| 1 | Income | ||
| Revenue from operations | 62,851.00 | 62,851.00 | |
| Other income | 2,369.00 | 2,369.00 | |
| Total income | 65,220.00 | 65,220.00 | |
| 2 | Expenses | ||
| (a) | Cost of materials consumed | 0.00 | 0.00 |
| (b) | Purchases of stock-in-trade | 0.00 | 0.00 |
| (c) | Changes in inventories of finished goods, work-in-progress and stock-in-trade | 0.00 | 0.00 |
| (d) | Employee benefit expense | 41,090.00 | 41,090.00 |
| (e) | Finance costs | 2,846.00 | 2,846.00 |
| (f) | Depreciation, depletion and amortisation expense | 2,263.00 | 2,263.00 |
| (f) | Other Expenses | ||
| 1 | Subcontractor charges | 4,335.00 | 4,335.00 |
| 2 | Software license cost | 2,262.00 | 2,262.00 |
| 3 | Travelling and conveyance | 1,049.00 | 1,049.00 |
| 4 | Advertising and business promotion expenses | 186.00 | 186.00 |
| 5 | Legal and professional fees | 409.00 | 409.00 |
| 6 | Recruitment charges | 52.00 | 52.00 |
| 7 | Rent expenses | 231.00 | 231.00 |
| 8 | Repairs and maintenance | 19.00 | 19.00 |
| 9 | Corporate social responsibility expenditure | 150.00 | 150.00 |
| 10 | Others | 1,308.00 | 1,308.00 |
| Total other expenses | 10,001.00 | 10,001.00 | |
| Total expenses | 56,200.00 | 56,200.00 | |
| 3 | Total profit before exceptional items and tax | 9,020.00 | 9,020.00 |
| 4 | Exceptional items | 0.00 | 0.00 |
| 5 | Total profit before tax | 9,020.00 | 9,020.00 |
| 6 | Tax expense | ||
| 7 | Current tax | 2,391.00 | 2,391.00 |
| 8 | Deferred tax | (131.00) | (131.00) |
| 9 | Total tax expenses | 2,260.00 | 2,260.00 |
| 10 | Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement | 0.00 | 0.00 |
| 11 | Net Profit Loss for the period from continuing operations | 6,760.00 | 6,760.00 |
| 12 | Profit (loss) from discontinued operations before tax | 0.00 | 0.00 |
| 13 | Tax expense of discontinued operations | 0.00 | 0.00 |
| 14 | Net profit (loss) from discontinued operation after tax | 0.00 | 0.00 |
| 15 | Share of profit (loss) of associates and joint ventures accounted for using equity method | 0.00 | 0.00 |
| 16 | Total profit (loss) for period | 6,760.00 | 6,760.00 |
| 17 | Other comprehensive income net of taxes | 1,581.00 | 1,581.00 |
| 18 | Total Comprehensive Income for the period | 8,341.00 | 8,341.00 |
| 19 | Total profit or loss, attributable to | ||
| Profit or loss, attributable to owners of parent | 6,760.00 | 6,760.00 | |
| Total profit or loss, attributable to non-controlling interests | 0.00 | 0.00 | |
| 20 | Total Comprehensive income for the period attributable to | ||
| Comprehensive income for the period attributable to owners of parent | 8,341.00 | 8,341.00 | |
| Total comprehensive income for the period attributable to owners of parent non-controlling interests | 0.00 | 0.00 | |
| 21 | Details of equity share capital | ||
| Paid-up equity share capital | 3,008.00 | 3,008.00 | |
| Face value of equity share capital | 2 | 2 | |
| 27 | Details of debt securities | ||
| 22 | Reserves excluding revaluation reserve | ||
| 23 | Earnings per share | ||
| i | Earnings per equity share for continuing operations | ||
| Basic earnings (loss) per share from continuing operations | 4.49 | 4.49 | |
| Diluted earnings (loss) per share from continuing operations | 4.48 | 4.48 | |
| ii | Earnings per equity share for discontinued operations | ||
| Basic earnings (loss) per share from discontinued operations | 0 | 0 | |
| Diluted earnings (loss) per share from discontinued operations | 0 | 0 | |
| ii | Earnings per equity share | ||
| Basic earnings (loss) per share from continuing and discontinued operations | 4.49 | 4.49 | |
| Diluted earnings (loss) per share from continuing and discontinued operations | 4.48 | 4.48 | |
| 24 | Debt equity ratio | 0.9300 | 0.9300 |
| 25 | Debt service coverage ratio | 5.4700 | 5.4700 |
| 26 | Interest service coverage ratio | 4.1700 | 4.1700 |
| 27 | Disclosure of notes on financial results | ||
| Debt equity ratio | |
|---|---|
| Debt service coverage ratio | |
| Interest service coverage ratio |
| Particulars | 3 months/ 6 month ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |||||
|---|---|---|---|---|---|---|---|
| Date of start of reporting period | 01-04-2026 | 01-04-2026 | |||||
| Date of end of reporting period | 30-06-2026 | 30-06-2026 | |||||
| Whether results are audited or unaudited | Unaudited | Unaudited | |||||
| Nature of report standalone or consolidated | Consolidated | Consolidated | |||||
| 1 | Segment Revenue (Income) | ||||||
| (net sale/income from each segment should be disclosed) | |||||||
| 1 | IMSS | 10,219.00 | 10,219.00 | ||||
| 2 | PDES | 49,209.00 | 49,209.00 | ||||
| 3 | GBS | 3,423.00 | 3,423.00 | ||||
| Total Segment Revenue | 62,851.00 | 62,851.00 | |||||
| Less: Inter segment revenue | 0.00 | 0.00 | |||||
| Revenue from operations | 62,851.00 | 62,851.00 | |||||
| 2 | Segment Result | ||||||
| Profit (+) / Loss (-) before tax and interest from each segment | |||||||
| 1 | IMSS | 2,549.00 | 2,549.00 | ||||
| 2 | PDES | 12,600.00 | 12,600.00 | ||||
| 3 | GBS | 1,139.00 | 1,139.00 | ||||
| Total Profit before tax | 16,288.00 | 16,288.00 | |||||
| i. Finance cost | 1,906.00 | 1,906.00 | |||||
| ii. Other Unallocable Expenditure net off Unallocable income | 5,362.00 | 5,362.00 | |||||
| Profit before tax | 9,020.00 | 9,020.00 | |||||
| 3 | (Segment Asset - Segment Liabilities) | ||||||
| Segment Asset | |||||||
| 1 | IMSS | 11,151.00 | 11,151.00 | ||||
| 2 | PDES | 1,56,104.00 | 1,56,104.00 | ||||
| 3 | GBS | 2,595.00 | 2,595.00 | ||||
| Total Segment Asset | 1,69,850.00 | 1,69,850.00 | |||||
| Un-allocable Assets | 2,12,334.00 | 2,12,334.00 | |||||
| Net Segment Asset | 3,82,184.00 | 3,82,184.00 | |||||
| 4 | Segment Liabilities | ||||||
| Segment Liabilities | |||||||
| 1 | IMSS | 2,283.00 | 2,283.00 | ||||
| 2 | PDES | 80,751.00 | 80,751.00 | ||||
| 3 | GBS | 242.00 | 242.00 | ||||
| Total Segment Liabilities | 83,276.00 | 83,276.00 | |||||
| Un-allocable Liabilities | 1,21,360.00 | 1,21,360.00 | |||||
| Net Segment Liabilities | 2,04,636.00 | 2,04,636.00 | |||||
| Disclosure of notes on segments | Textual Information(2) | ||||||
| Textual Information(2) | 1. In terms of Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, this Statement of Unaudited Consolidated Financial Results for the quarter ended June 30, 2026 (Consolidated Financial Results) of Happiest Minds Technologies Limited (the “Holding Company” or the Company) and its subsidiaries (together referred to as “the Group”) has been approved by the Board of Directors at their meeting held on July 27, 2026. 2. The figures for the quarter ended March 31, 2026 are balancing figures between audited figures in respect of full financial year upto March 31, 2026 and the published year-to-date figure upto December 31, 2025 being the date of the end of the third quarter of the financial year. The published year-to-date results upto December 31, 2025 was subjected to a limited review by the Statutory Auditors of the Company. 3. The Unaudited Consolidated Financial Results of the Group have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards (Ind AS) prescribed under section 133 of the Companies Act 2013, as amended, read with relevant rules thereunder and in terms of Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended and SEBI Circular No.CIR/CFD/CMD1/44/2019 dated March 29, 2019. 4. The Scheme of Amalgamation of Puresoftware Technologies Private Limited (PSTPL), a wholly-owned subsidiary, with and into the Company was approved by the Hon’ble National Company Law Tribunal (“NCLT”) on May 29, 2026, with an appointed date of April 01, 2026. Accordingly, the Company has accounted for the aforesaid merger sanctioned by NCLT, using the pooling of interest method retrospectively for all periods presented in the standalone financial results as prescribed in Ind AS 103 - Business Combinations and the amounts reported in respect of earlier periods have been restated as if the merger had occurred from April 1, 2025. 5. On November 21, 2025, the Government of India notified provisions of the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively, the “Labour Codes”) which consolidate twenty-nine existing labour laws into a unified framework governing employee benefits during employment and post-employment The Labour Codes, introduce changes including a uniform definition of wages and enhanced benefits relating to leave. The Group has assessed the financial implications of these changes, which have resulted in an increase in gratuity liability arising from past service cost and increase in leave liability by INR 2,203 lakhs. Considering that the impact arising from the enactment of the new legislation is non-recurring in nature, the Group has presented this incremental amount of INR 2,203 lakhs as “Impact of Labour Codes” under “Exceptional Items” in the Statement of Profit and Loss for the quarter ended December 31, 2025 and year ended March 31, 2026. The Group continues to monitor developments pertaining to the Labour Codes and will evaluate any further impact on the measurement of liabilities relating to employee benefits. 6. On May 22, 2024, the Group acquired 100% equity interest of PureSoftware Technologies Private Limited (‘PSTPL’). The Group paid a total cash consideration of INR 64,229 lakhs towards the acquisition. As a result of this acquisition, the Group has recorded goodwill of INR 56,740 lakhs and other intangible assets of INR 15,718 lakhs, and a contingent considerations of INR 10,814 lakhs. Costs incurred on the acquisition of about INR 605 Lakhs has been grouped under Other expenses. The Group has re-measured the fair value of the first-year earn-out contingent consideration and the change in fair value of INR 2,344 Lakhs has been recognised as a loss in the statement of profit and loss and disclosed as an ‘Exceptional Item’ for the quarter and year ended March 31, 2025. Further, the Group re-measured the fair value of the second-year earn-out contingent consideration, and the change in fair value of INR 1,247 Lakhs has been recognised as a loss in the Statement of Profit and Loss and disclosed as an ‘Exceptional Item’ for the current quarter and year ended March 31, 2026 7. On May 24, 2024, the Group acquired 100% membership interest in Aureus Tech Systems LLC ('Aureus'). The Group paid a total cash consideration of INR 7,149 lakhs towards the acquisition. As a result of this acquisition, the Group has recorded goodwill of INR 4,783 lakhs and other intangible assets of INR 4,398 lakhs, and a contingent considerations of INR 2,425 lakhs. The Group incurred acquisition cost of INR 38 Lakhs and it is grouped under Other expenses. The Group has re-measured the fair value of the first year earn-out contingent consideration and the change in fair value of INR 1,128 Lakhs has been recognised as a gain in the statement of profit and loss and disclosed as an ‘Exceptional Item’ for the quarter and year ended March 31, 2025. Further, the Group re-measured the second-year earn-out contingent consideration, and the change in fair value amounting to INR 1,591 Lakhs as at March 31, 2026 has been recognised as a gain in the Statement of Profit and Loss and disclosed as an ‘Exceptional Item’ for the quarter and year ended March 31, 2026. 8. The Board of Directors of the Group at its meeting held on July 29, 2025 had approved the Scheme of Amalgamation of Aureus Tech Systems Private Limited (Wholly Owned Subsidiary - Transferor Company) with the Company (Holding Company - Transferee Company) and their respective Shareholders and Creditors, pursuant to Sections 230 to 232 and other relevant provisions of the Companies Act, 2013 read with Regulation 37 of SEBI (LODR) Regulation, 2015. 9. The financial results of the Company on a standalone basis is as follows: Total revenue (including other income) Quarter ended: June 30, 2026 (Unaudited): 58,433, March 31, 2026 (Refer Note 2): 55,946, June 30, 2025 (Unaudited): 52,080 Year ended: March 31, 2026 (Audited):2,17,210 Profit before tax Quarter ended: June 30, 2026 (Unaudited): 7,362, March 31, 2026 (Refer Note 2): 6,824, June 30, 2025 (Unaudited): 6,939 Year ended: March 31, 2026 (Audited):26,035 Profit for the period / year Quarter ended: June 30, 2026 (Unaudited): 5,688, March 31, 2026 (Refer Note 2): 4,970, June 30, 2025 (Unaudited): 5,121 Year ended: March 31, 2026 (Audited):19,596 Total comprehensive income for the period / year ended Quarter ended: June 30, 2026 (Unaudited): 1,661, March 31, 2026 (Refer Note 2): -1,571, June 30, 2025 (Unaudited): 92 Year ended: March 31, 2026 (Audited):-2,495. 11.Previous quarter's/ year's figures have been regrouped/ reclassified wherever necessary to conform with current year classification. 12. The above Unaudited Consolidated Financial Results of the Group are available on the Company's website www.happiestminds.com and also that of BSE (www.bseindia.com) and NSE (www.nseindia.com). |
|---|
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-04-2026 | 01-04-2026 |
| B | Date of end of reporting period | 30-06-2026 | 30-06-2026 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| D | Nature of report standalone or consolidated | Consolidated | Consolidated |
| Other comprehensive income [Abstract] | |||
| 1 | Amount of items that will not be reclassified to profit and loss | ||
| 1 | Exchange difference on translation of foreign operation | (63.00) | (63.00) |
| 2 | Net movement on effective portion of cash flow hedges [gains/ (losses)] | 1,623.00 | 1,623.00 |
| Total Amount of items that will not be reclassified to profit and loss | 1,560.00 | ||
| 2 | Income tax relating to items that will not be reclassified to profit or loss | 409.00 | 409.00 |
| 3 | Amount of items that will be reclassified to profit and loss | ||
| 1 | Re-measurement of defined benefit plans | 574.00 | 574.00 |
| Total Amount of items that will be reclassified to profit and loss | 574.00 | ||
| 4 | Income tax relating to items that will be reclassified to profit or loss | 144.00 | 144.00 |
| 5 | Total Other comprehensive income | 1,581.00 | 1,581.00 |