How does Q1 revenue compare with the company's FY27 growth target?

Q1 revenue of ₹629 crore represents 14.3% YoY growth, which exceeds the 12.5% growth target for the full FY27 that management reaffirmed in May.

What drove the adjusted PAT growth?

Adjusted PAT rose 14.7% to ₹80.5 crore, in line with revenue growth. EBITDA margin held steady at 17.5%, and lower employee attrition (15.4% vs prior) likely aided cost control.

How many clients did Happiest Minds add, and what was the key deal?

The company added six new clients, bringing the active base to 306. A multi-year managed security services deal in the Middle East was highlighted as a key win.

Earnings · IT - Software · Mid cap

Happiest Minds beats FY27 growth target in Q1, revenue up 14.3%

Revenue of ₹629 crore and PAT of ₹80.5 crore both climb ~14% YoY, above the 12.5% target set for the year. Six new clients added, attrition eases.

— 6 earlier stories on Happiest Minds Technologies Ltd. →

HAPPSTMNDS By Tipsheet Editorial 27 Jul 2026 · 8:18 PM IST Verify on BSE · NSE

Mkt cap₹5,215 cr

P/E24.53×

ROE11.73%

Debt / eq.0.74

Div yld1.85%

14.3% YoY revenue growth, above the 12.5% FY27 target

What's new

Revenue hit ₹629 cr in Q1 FY27, up 14.3% YoY
Adjusted PAT rose 14.7% to ₹80.5 cr
Six new clients added; total active base now 306

Why this matters

The 14.3% growth tops the 12.5% full-year target reaffirmed in May. That is a strong start for a mid-cap IT firm in a soft market. Margins held at 17.5%, and attrition dropped to 15.4%, suggesting the operating engine is healthy. The test now is whether momentum sustains through the rest of the year.

What we're watching

Whether the 14.3% revenue growth can be sustained in Q2 and Q3
Deal pipeline: the managed security services win in the Middle East is one to track
Margin trajectory: 17.5% is good but not expanding yet

The full read

Happiest Minds started FY27 ahead of its own script. Revenue of ₹629 crore grew 14.3% year-on-year, above the 12.5% full-year target set just weeks ago. Adjusted PAT followed at ₹80.5 crore, up 14.7%. Margins stayed at 17.5%, and attrition improved to 15.4% (a sign that the talent churn of prior years is easing). The company added six clients, and a multi-year managed security services win in the Middle East points to deal flow beyond short-cycle work. The open question is durability: a strong Q1 does not guarantee a strong year. But for now, the numbers back the confidence.

Questions answered

How does Q1 revenue compare with the company's FY27 growth target?: Q1 revenue of ₹629 crore represents 14.3% YoY growth, which exceeds the 12.5% growth target for the full FY27 that management reaffirmed in May.
What drove the adjusted PAT growth?: Adjusted PAT rose 14.7% to ₹80.5 crore, in line with revenue growth. EBITDA margin held steady at 17.5%, and lower employee attrition (15.4% vs prior) likely aided cost control.
How many clients did Happiest Minds add, and what was the key deal?: The company added six new clients, bringing the active base to 306. A multi-year managed security services deal in the Middle East was highlighted as a key win.

Primary source BSE · NSE · Tijori

An independent reading of the company's own disclosure — the primary filing above is the final word.

Company snapshot

Happiest Minds Technologies Ltd.

Software Services

₹5,903 cr

P/E 27.76×

Latest quarter · Jun 2026

Sales₹629 cr

Net profit₹68 cr

Op. margin+18.7%

EPS₹4.49

Strength & growth

Debt / equity0.84×

Current ratio1.48×

Story so far

All notes on HAPPSTMNDS →

27 Jul 2026 · 8:18 PM IST Happiest Minds beats FY27 growth target in Q1, revenue up 14.3%
today Happiest Minds Q1: Revenue in line, but deal conversion risks mount
1d ago Happiest Minds Q1 meets guided pace, no surprises
1d ago Happiest Minds delivers 14% revenue growth, GenAI hits 5%
1d ago Happiest Minds beats FY27 growth target in Q1