Happiest Minds Technologies Ltd (NSE:HAPPSTMNDS)

Q3 2026 Happiest Minds Technologies Ltd Earnings Call Transcript

Feb 10, 2026 / 03:30AM GMT

Release Date Price: ₹393.6 (-0.54%)

Transcript

Key Points

Positve

Happiest Minds Technologies Ltd (BOM:543227) reported a year-over-year revenue growth of 10.7% for Q3 FY26, reflecting steady execution.
The company has successfully embedded AI into core workflows and platforms, enhancing customer engagement and execution.
The AI-first strategy is showing tangible results, with 32 generative AI use cases moving from prototype to production.
The company maintained EBITDA margins within the guided range of 20% to 22%, demonstrating disciplined cost management.
The generative AI business services segment saw strong momentum, with revenues growing close to 50% quarter over quarter.

Negative

EBITDA margins decreased to 20.4% from 22.2% in the previous quarter, indicating some margin pressure.
The high-tech vertical experienced a decline due to the completion of a product development project and the end of a support contract.
Attrition on a trailing 12-month basis stood at 17.4%, which could indicate challenges in retaining talent.
DSO increased to 92 days from 87 in the previous quarter, highlighting potential issues in collections and billing discipline.
The retail vertical showed a sequential decline, partly due to billing cycle adjustments and project completions.

Operator

Ladies and Chairman, good morning and welcome to the Happiest Minds Technology Limited Q3 FY26 earnings conference call hosted by Anand Rathi Share and Stockbrokers Limited. (Operator Instructions)Please note that this conference is being recorded.

I will now have the conference over to Mr. Sushovon Nayak from Anand Rathi Share and Stockbrokers Limited for opening the marks. Thank you, and over to you.

Sushovon Nayak

Anand Rathi Financial Services Ltd - Research Analyst

Thank you. Hi, good morning, ladies and gentlemen. Thank you for joining us today on the Q3 FY26 earnings call of Happiest Minds Technologies Limited. On behalf of Anand Rathi, I would like to thank the management of Happiest Minds for giving us the opportunity to host this call.

Today, we have with us Mr. Ashok Soota, Chairman and Chief Mentor; Mr. Joseph Anantharaju, Co-Chairman and CEO; Mr. Venkatraman Narayanan, Managing Director; Mr. Ram Mohan, CEO, Infrastructure Management and Security Services; Mr. Sridhar Mantha, CEO, Generative AI Business Services; Mr. Praveen

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