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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 Standalone Financial Results for the quarter ended June 30, 2026 ("Standalone Financial Results") of Happiest Minds Technologies Limited (the "Company") 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 unaudited 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 Standalone Financial Results of the Company 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 Board of Directors of the Company 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 /> 5. The Company publishes unaudited standalone financial results along with the unaudited consolidated financial results. In accordance with Ind AS 108, Operating segments, the Company has disclosed the segment information in the interim unaudited consolidated financial results of Happiest Minds Technologies Limited and its subsidiaries for the quarter ended June 30, 2026. <br /> 6. 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 /> 7. 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 Company 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 2,141 lakhs. <br /> Considering that the impact arising from the enactment of the new legislation is non-recurring in nature, the Company has presented this incremental amount of INR 2,141 lakhs as “Impact of Labour Codes” under “Exceptional Items” in the Statement of Profit and Loss for the quarter ended March 31, 2026 and year ended March 31, 2026. The Company 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 /> 8. 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. <br /> <br /> The Company has re-measured the fair value of the earn-out contingent consideration and the change in fair value of INR 100 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, 2026. <br /> 9. Previous quarter's/ year's figures have been regrouped/ reclassified wherever necessary to conform with current year classification. <br /> 10. The above Unaudited Standalone Financial Results of the Company are available on the Company's website www.happiestminds.com and also that of BSE (www.bseindia.com) and NSE (www.nseindia.com). <br /> Subcontractor charges348100000Software license cost216200000Travelling and conveyance99600000Advertising and business promotion expenses18000000Legal and professional fees33700000Recruitment charges4500000Rent expenses22200000Repairs and maintenance1400000Corporate social responsibility expenditure14800000Others138500000IMSS0PDES0GBS0000IMSS0PDES0GBS000IMSS0PDES0GBS0000IMSS0PDES0GBS0000Net movement on effective portion of cash flow hedges [gains/ (losses)]16230000016230000040900000Re-measurement gains/ (losses) on defined benefit plans597000005970000015000000166100000136630000000350000000014013000000