Happiest Minds Technologies Ltd. is amongst the largest Indian information technology companies associated with digital transformation and Information Technology consulting services. Happiest Minds is headquartered in Bengaluru, Karnataka, India, and was incorporated in 2011 by Ashok Soota, a stalwart of the IT industry in India. The company has acquired much respect due to the keenness that it has shown towards emerging technologies and hence able to offer end-to-end digital solutions. With the tagline "Born Digital. Born Agile," Happiest Minds emphasizes its expertise in leveraging digital tools and agile methodologies to drive business transformation for its clients.
Ashok Soota, previously co-founded Mindtree and played a lead role in Wipro. His vision was to create an organization that would help leverage digital technologies to transform businesses, and he happened to realize this dream within no time. Further, through astute leadership, Happiest Minds set out to carve a distinct identity for itself amongst companies operating in the intensely competitive IT service space. Also, Happiest Minds quickly fastened on to the most contemporary technologies in artificial intelligence, blockchain, cloud computing, and the Internet of Things. Over the years, it has grown its client base to industries as wide as auto, consumer packaged goods, education, e-commerce, banking, travel & hospitality, retail, and manufacturing.
Company Products & Services
Happiest Minds offers a wide range of digital transformation services, categorized into three main service lines:
- Digital Business Services (DBS):
This service line focuses on helping businesses transform their digital presence. It includes digital transformation consulting, digital process automation, and enhancing digital customer experiences. The aim is to streamline business processes and improve customer interactions using advanced digital tools.
- Product Engineering Services (PES):
Happiest Minds provides end-to-end product engineering services, encompassing the whole lifecycle of products—from conceptualization and design to development and deployment. This would include developing innovative software products to suit clients business process requirements and specific domains.
- Infrastructure Management & Security Services (IMSS):
This line of service ensures the presentation of an IT infrastructure that is safe, effective, and extendable for clients. Using integrated security services and agile infrastructure services, Happiest Minds aims to help companies ensure that their IT resources are managed effectively and proper measures for protection are put in place.
Current Financial Information
Happiest Minds has had strong financial performance over the past few years. Revenue experienced by the firm came to be around INR 1,658 crores for the fiscal year ended 2023; this represents increasing by 13.7% as compared to the previous year. Net profit margins were at 21.4 % .
Profit & Loss Statement
As of March 2024:
- Net Sales: ₹375.24 Cr
- Profit Before Tax: ₹73.91 Cr
- Net Profit: ₹53.93 Cr
- Earnings Per Share (EPS): ₹16.14
Balance Sheet
As of March 2024, Happiest Minds balance sheet is robust:
- Total Assets: ₹2,247 Cr
- Total Liabilities: ₹ 2,247 Cr
- Equity Capital: ₹29.87 Cr
- Reserves: ₹1,448.74 Cr
- Borrowings: ₹533.45 Cr
Quarterly/Yearly Results
For March 2024 quarterly results, Happiest Minds reported:
- Revenue: ₹471.29 Cr
- Operating Income: ₹68.33 Cr
- Net Income: ₹71.98 Cr
Financial Ratios
- Price to Earnings (P/E) Ratio: 51.42
- Price to Book (P/B) Ratio: 8.36
- Market Capitalization: $1.5 billion
These financial metrics indicate a company that is performing well in terms of profitability and maintaining a strong balance sheet, albeit with a relatively high P/E ratio suggesting that the stock might be overvalued based on current earnings.
Happiest Minds Technologies share price as on 15 Sep 2024 is Rs. 820.8. Over the past 6 months, the Happiest Minds Technologies share price has increased by 1.85% and in the last one year, it has decreased by 12.03%. The 52-week low for Happiest Minds Technologies share price was Rs. 741 and 52-week high was Rs. 968.
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