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Company details

6M Return -3.96%
1Y Return -8.11%
Mkt Cap.(Cr) 13,448.17
Volume 1,449,276
Div Yield 0.59%
OI Chg %
Volume 1,449,276

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IT Consulting and Software company Happiest Minds Technologies announced Q2FY24 results:

1. Financial Performance:
- Happiest Minds reports industry-leading growth of 11.6% YoY in constant currency.
- EBITDA grew by 11.1% YoY to Rs 105 crore.
- Strong EBITDA margin of 24.4%.
- Total Income of Rs 42,883 lakhs, a growth of 6.0% QoQ and 19.3% YoY.
- PAT of Rs 5,846 lakhs for the quarter.

2. Business Outlook:
- Revised revenue growth guidance for the year to 12% on an organic basis.
- Retaining EBITDA guidance of 22% to 24%.
- Long-term growth aspiration of becoming a billion-dollar enterprise by 2031.
- Initiating a Generative AI business unit (GBS) to capitalize on the transformative impact of AI.

3. Operational Highlights:
- Trailing 12 months attrition of 14.4%.
- Utilization of 75.6%.
- Net addition of 237 employees in the quarter.
- 7 new client additions, reaching a total of 244 clients.

4. Key Project Wins:
- Chosen by a large online retailer to design interactive user interfaces and provide automation services for their IoT division.
- Selected by a global fabless semiconductor company for ASIC Design and verification services.
- Partnership with a large utilities company in the US to provide data engineering and governance services.
- Engaged by a leading warehouse club operator in the US for security assessment services.

Ashok Soota, Executive Chairman, said, “Happiest Minds continues to lead the industry on growth and profitability metrics. We have yet again delivered a quarter of superior performance on all fronts. Separately, I would like to express my gratitude to all Happiest Minds and stakeholders for completing our 12th anniversary.

We had given revenue growth guidance for the year of 25% without making a distinction between organic and inorganic growth. Based on an assessment of market trends we are revising our revenue growth guidance for the year to 12% on an organic basis. Additional growth, if any, due to acquisition will be over and above this guidance. We retain our EBITDA guidance of 22% to 24% and remain committed to our long-term growth aspiration of becoming a billion-dollar enterprise by 2031.

I am happy to announce a major new organizational and strategic initiative for Happiest Minds. We are starting with the immediate effect of a Generative AI business unit (GBS) to capitalize on the transformative impact of Generative AI. The existing PES and DBS businesses will be combined into the PDES business unit. There will be no change in IMSS. We will therefore retain 3 BUs: PDES, IMSS, and GBS.”



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Happiest Minds Technologies Ltd Stocks COMPARISION


Equity Capital: 825.98 Cr FV: 2.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 21,593.44 39,409.91
LAST 3M 57,905.00 19,139.45
LAST 6M 99,888.55 93,017.93
LAST 12M 166,353.23 137,771.51
Happiest Minds Technologies Limited - Press Release

Dec 04, 2023 l NSE Announcement

Happiest Minds Technologies features among Top 50 India`s Best Workplaces¿ in IT & IT-BPM 2023

Dec 04, 2023 l BSE Announcement

Date Action Type Ratio
Oct 30, 2023 Dividend 125
Jul 07, 2023 Dividend 170
Nov 02, 2022 Dividend 100

Happiest Minds Technologies Ltd Information

Stock PE (TTM)
Promoter Holding
Book Value
  • Happiest Minds is a Bangalore-based IT service provider large-cap Company having a market cap of INR 20,487.53 Crores as of 16th August 2021. The company was incorporated in 2011. Happiest Minds came out with an initial public offer which was listed at BSE and NSE on 17th September 2020. The Bombay Stock Exchange (BSE) and National Stock Exchange have assigned the number 543227 and scrip code HAPPSTMNDS. As of 16th August 2021, Happiest Minds Limited is trading at INR 1,386.80.

    Happiest Minds Technologies Limited is a next-generation digital, infrastructure, security, and merchandise engineering company. The business of the corporate is split into three categories; Digital Business Service (DBS), Product Engineering Service (PES), and Infrastructure and Management Security Service (IMSS). The major revenue verticals of the company are Edutech (25.6%), Hitech (18.2%), Banking and Financial Services (16.4%), and Travel, Media, and entertainment (13.6%). Happiest Minds have around 150 active customers and have a global presence in different countries. As of 31st March 2021, it has a total 3,228 number of employees, including contractual employees. 24.5% of permanent employees are women employees. During the FY 2020-21, the company has acquired 100% ownership interest in PGS Inc. with effect from 1st January 2021. The company also has a wholly-owned subsidiary, namely Happiest Minds Inc. USA. As of 31st March 2021, promoters within the company held 53.25%, 25% of the total shares were held by the public. The foreign institutional investors/NRIs held 9.30%. Others held the remaining balance of 12.45% (Mutual Find/Banks - 7.38%, Body Corporate - 2.65%, Clearing Members – 0.41% and Trust – 0.01%).

    As of 30th June 2021, the company has a total of 14.69 Crores shares outstanding. For the year ended March 2021, the company has reported a Consolidated Total Income of INR 773.41 Crores, up 10.78 % from INR 698.21 Crores in March 2020. In addition, the company has reported a net profit after tax of INR 162.46 Crores, from INR 71.71 Crores in March 2020 that reflects upward of 126.56%. Happiest Mind Limited’s stock closed at 1395 on 16th August (NSE) and has returned 246% (approx.) in the last six months.

Registered Address

53/1-4 Hosur Main Road, Madivala (Next to PoliceStatio, Bangaluru, Karnataka, 560068

Tel : 91-80-61960300/61960400
Email : investors:happiestminds.com
Website : http://www.happiestminds.com

KFin Techologies Ltd

AGM Date (Month) : Jul
Face Value Equity Shares : 2
Market Lot Equity Shares : 1
BSE Code : 543227
Book Closure Date (Month) :
BSE Group : A
ISIN : INE419U01012

FAQ’s on Happiest Minds Technologies Ltd Shares

You can buy Happiest Minds Technologies Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Happiest Minds Technologies Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Dec 08, 2023 03:19 PM the closing price of Happiest Minds Technologies Ltd was ₹ 883.15.

Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Dec 08, 2023 03:19 PM, the market cap of Happiest Minds Technologies Ltd stood at ₹ 13,448.17.

The latest PE ratio of Happiest Minds Technologies Ltd as of Dec 08, 2023 03:19 PM is 55.87

The latest PB ratio of Happiest Minds Technologies Ltd as of Dec 08, 2023 03:19 PM is 0.11

The 52-week high of Happiest Minds Technologies Ltd is ₹ 1,023.00 while the 52-week low is ₹ 763.25

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