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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. <br /> 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. <br /> 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. <br /> 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. <br /> "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 <br /> <br /> 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. <br /> <br /> 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." <br /> "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"". <br /> <br /> 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. <br /> <br /> 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" <br /> "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"". <br /> <br /> 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. <br /> <br /> 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." <br /> <br /> 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. <br /> 9. The financial results of the Company on a standalone basis is as follows: <br /> <br /> Total revenue (including other income) <br /> Quarter ended: <br /> June 30, 2026 (Unaudited): 58,433, March 31, 2026 (Refer Note 2): 55,946, June 30, 2025 (Unaudited): 52,080 <br /> <br /> Year ended: <br /> March 31, 2026 (Audited):2,17,210 <br /> <br /> Profit before tax <br /> Quarter ended: <br /> June 30, 2026 (Unaudited): 7,362, March 31, 2026 (Refer Note 2): 6,824, June 30, 2025 (Unaudited): 6,939 <br /> <br /> Year ended: <br /> March 31, 2026 (Audited):26,035 <br /> <br /> Profit for the period / year <br /> Quarter ended: <br /> June 30, 2026 (Unaudited): 5,688, March 31, 2026 (Refer Note 2): 4,970, June 30, 2025 (Unaudited): 5,121 <br /> <br /> Year ended: <br /> March 31, 2026 (Audited):19,596 <br /> <br /> Total comprehensive income for the period / year ended <br /> Quarter ended: <br /> June 30, 2026 (Unaudited): 1,661, March 31, 2026 (Refer Note 2): -1,571, June 30, 2025 (Unaudited): 92 <br /> <br /> Year ended: <br /> March 31, 2026 (Audited):-2,495. <br /> <br /> 11.Previous quarter's/ year's figures have been regrouped/ reclassified wherever necessary to conform with current year classification. <br /> <br /> 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). <br /> Exchange difference on translation of foreign operation-6300000Net movement on effective portion of cash flow hedges [gains/ (losses)]16230000015600000040900000Re-measurement of defined benefit plans574000005740000014400000158100000