Happiest Minds Technologies Limited HAPPSTMNDS NSEAITECH
Happiest Minds Technologies Limited provides information technology (IT) solutions and services in India, the Americas, Australia, Europe, Asia, the Middle East, and Africa. It operates through three segments: Infrastructure Management and Security Services (IMSS); Product and Digital Engineering Services (PDES); and Generative AI Business Services (GBS). The IMSS segment provides integrated end-to-end infrastructure and security solutions comprising advisory, transformation, and managed operations; end-to-end gen AI-enabled solutions, such as infrastructure assessments and cloud migration, AI-powered threat detection, and continuous security monitoring; cloud and data center, databases and application platforms, digital workplace, enterprise networking, and IT services and operations management tools and platforms; strategy and consulting, and managed security; and identify security, cloud infrastructure protection, threat and vulnerability, and OT security solutions. The GBS segment offers consulting, engineering, testing, infrastructure management and support, and pre-built solutions/companions; and AI services, AI-powered applications, and customized generative AI models. The PDES segment provides business and IT consulting; marketing analytics; digital process automation for front, mid, and back-office operations; analytics and visualization; business-specific application development, maintenance, and support; intelligent test automation and engineering; and digital front door, healthcare enterprises connecting, healthcare data democratization and RWE, operational of DCT/digital trials, medical device engineering, cybersecurity in healthcare, core system modernization, and semantic interoperability services. This segment also offers product engineering, open-source stack, mobility, data analytics and business intelligence, accessibility, edtech compliance, integration, education CRM, Generative AI, digital process automation, cybersecurity, and personalized content services. The company was incorporated in 2011 and is headquartered in Bengaluru, India.
READ MORE ›Market & Price
Valuation
Profitability & Returns
Balance Sheet & Liquidity
Ownership
Financial Snapshot
Growth (CAGR)
PROS
- Compounding revenue at 17.4% over 5 years.
- Generates positive free cash flow.
CONS
- Earnings shrank at -2.7% CAGR over 5 years.
- Trading 43.8% below its 52-week high.
- In a downtrend (50-DMA below 200-DMA).
* The pros and cons are auto-generated from financial metrics.
Price Chart
Technical Trend
Computed from daily close history using EMA cross, slope, and RSI signals.
Note: intraday data is not stored locally. “Hourly” uses the most recent 10 daily candles as a short-term proxy.
Fundamental Growth
No fundamental data available for this stock.
Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).
Peer comparison
Peer companies in the same sector (Technology).
| # | Name | CMP ₹ | P/E | Mkt Cap | Div Yld % | ROCE % | ROE % | Rev CAGR 5Y % | Profit CAGR 5Y % |
|---|---|---|---|---|---|---|---|---|---|
| 1 | HAPPSTMNDS Happiest Minds Technologies Limited NSEAITECH | 371.70 | 26.32 | ₹5,585.24 Cr | 1.96% | 17.16% | 13.03% | 17.44% | -2.72% |
| 2 | TCS Tata Consultancy Services Limited NIFTY50NSEAITECH | 2,258.90 | 16.61 | ₹8.17 L Cr | 5.49% | 54.93% | 48.40% | 5.80% | 5.30% |
| 3 | INFY Infosys Limited NIFTY50NSEAITECH | 1,160.90 | 15.01 | ₹4.70 L Cr | 4.31% | 41.66% | 31.44% | 3.44% | 3.58% |
| 4 | HCLTECH HCL Technologies Limited NIFTY50NSEAITECH | 1,183.80 | 19.31 | ₹3.20 L Cr | 8.11% | 27.21% | 23.36% | 8.65% | 3.87% |
| 5 | WIPRO Wipro Limited NIFTY50NSEAITECH | 204.25 | 16.26 | ₹2.14 L Cr | 8.32% | 18.42% | 15.49% | 4.05% | 2.44% |
| 6 | TECHM Tech Mahindra Limited NIFTY50NSEAITECH | 1,483.90 | 27.40 | ₹1.31 L Cr | 3.44% | 20.60% | 16.61% | 2.16% | -0.14% |
| 7 | LTM LTM Limited NSETECH | 4,061.60 | 24.04 | ₹1.20 L Cr | 1.85% | 25.39% | 21.29% | 8.43% | 4.41% |
| 8 | LGEINDIA LG ELECTRONICS INDIA LTD NIFTY_MIDNSETECH | 1,523.90 | 61.35 | ₹1.03 L Cr | - | 27.64% | 24.72% | 0.98% | - |
| 9 | WAAREEENER WAAREE ENERGIES LIMITED NIFTY_MIDNSETECH | 3,140.80 | 27.70 | ₹90,345.53 Cr | 0.13% | 24.21% | 31.57% | 71.63% | 191.18% |
Quarterly Results
Figures in INR.
| Metric | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Revenue | 521.64 Cr | 530.81 Cr | 544.57 Cr | 549.90 Cr | 587.56 Cr | 604.08 Cr |
| Cost of Revenue | 350.55 Cr | 355.77 Cr | 359.16 Cr | 375.45 Cr | 392.05 Cr | 404.44 Cr |
| Gross Profit | 171.09 Cr | 175.04 Cr | 185.41 Cr | 174.45 Cr | 195.51 Cr | 199.64 Cr |
| Operating Expenses | 102.41 Cr | 102.13 Cr | 124.08 Cr | 102.79 Cr | 110.48 Cr | 117.60 Cr |
| Operating Income | 68.68 Cr | 72.91 Cr | 61.33 Cr | 71.66 Cr | 85.03 Cr | 82.04 Cr |
| EBITDA | 118.83 Cr | 116.86 Cr | 97.67 Cr | 124.05 Cr | 100.79 Cr | 124.65 Cr |
| Interest Expense | 27.99 Cr | 26.93 Cr | 24.74 Cr | 24.82 Cr | 24.52 Cr | 22.61 Cr |
| Pretax Income | 67.72 Cr | 68.94 Cr | 50.38 Cr | 76.87 Cr | 54.20 Cr | 80.48 Cr |
| Tax Provision | 18.20 Cr | 18.84 Cr | 16.38 Cr | 19.74 Cr | 13.90 Cr | 19.31 Cr |
| Net Income | 49.52 Cr | 50.10 Cr | 34.00 Cr | 57.13 Cr | 40.30 Cr | 61.17 Cr |
| Diluted EPS | 3.29 | 3.33 | 2.26 | 3.79 | 2.67 | 4.06 |
Profit & Loss (Annual)
Figures in INR.
| Metric | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue | - | 1,429.29 Cr | 1,624.66 Cr | 2,060.84 Cr | 2,315.11 Cr |
| Cost of Revenue | - | 772.16 Cr | 966.58 Cr | 1,365.34 Cr | 1,560.95 Cr |
| Gross Profit | - | 657.13 Cr | 658.08 Cr | 695.50 Cr | 754.16 Cr |
| Operating Expenses | - | 340.17 Cr | 380.51 Cr | 429.78 Cr | 438.97 Cr |
| Operating Income | - | 316.96 Cr | 277.57 Cr | 265.72 Cr | 315.19 Cr |
| EBITDA | - | 373.63 Cr | 435.24 Cr | 443.64 Cr | 469.76 Cr |
| Interest Expense | - | 21.86 Cr | 42.27 Cr | 99.48 Cr | 97.36 Cr |
| Pretax Income | - | 309.86 Cr | 334.68 Cr | 255.46 Cr | 284.21 Cr |
| Tax Provision | - | 78.87 Cr | 86.29 Cr | 70.80 Cr | 71.59 Cr |
| Net Income | - | 230.99 Cr | 248.39 Cr | 184.66 Cr | 212.62 Cr |
| Diluted EPS | - | 16.01 | 16.73 | 12.26 | 14.11 |
Compounded Sales Growth
| 5 Years: | 17.44% |
| 1 Year: | 10.90% |
Compounded Profit Growth
| 5 Years: | -2.72% |
| 1 Year: | 79.90% |
Stock Price Performance
| 1 Year: | -37.44% |
| 6 Months: | -25.34% |
| 3 Months: | +2.45% |
| 1 Month: | -0.38% |
Balance Sheet (Annual)
Figures in INR.
| Metric | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Total Assets | - | 1,640.83 Cr | 2,247.79 Cr | 3,359.06 Cr | 3,625.11 Cr |
| Current Assets | - | 1,072.98 Cr | 1,777.77 Cr | 2,000.95 Cr | 2,075.55 Cr |
| Cash & Equivalents | - | 69.99 Cr | 114.70 Cr | 119.12 Cr | 119.66 Cr |
| Inventory | - | - | - | - | - |
| Receivables | - | 213.19 Cr | 254.44 Cr | 358.13 Cr | 390.27 Cr |
| Total Liabilities | - | 802.01 Cr | 767.55 Cr | 1,784.48 Cr | 1,935.62 Cr |
| Current Liabilities | - | 576.40 Cr | 566.98 Cr | 1,207.90 Cr | 1,401.79 Cr |
| Long Term Debt | - | 112.78 Cr | 104.45 Cr | 335.37 Cr | 342.92 Cr |
| Total Debt | - | 533.75 Cr | 512.19 Cr | 1,243.58 Cr | 1,486.65 Cr |
| Total Equity | - | 838.82 Cr | 1,480.24 Cr | 1,574.58 Cr | 1,689.49 Cr |
| Shares Outstanding | - | 14.69 Cr | 15.23 Cr | 15.23 Cr | 15.23 Cr |
Cash Flows (Annual)
Figures in INR.
| Metric | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Operating Cash Flow | - | 207.17 Cr | 212.56 Cr | 236.42 Cr | 261.41 Cr |
| Investing Cash Flow | - | -351.02 Cr | -466.41 Cr | -762.16 Cr | -121.29 Cr |
| Financing Cash Flow | - | 72.07 Cr | 363.47 Cr | 499.45 Cr | -143.72 Cr |
| Capital Expenditure | - | -139.41 Cr | -10.30 Cr | -11.17 Cr | -7.16 Cr |
| Free Cash Flow | - | 67.76 Cr | 202.26 Cr | 225.25 Cr | 254.25 Cr |
| Net Change in Cash | - | -71.78 Cr | 109.62 Cr | -26.29 Cr | -3.60 Cr |
Ratios (Annual)
Figures in %.
| Metric | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Gross Margin % | - | 46.0% | 40.5% | 33.7% | 32.6% |
| Operating Margin % | - | 22.2% | 17.1% | 12.9% | 13.6% |
| Net Margin % | - | 16.2% | 15.3% | 9.0% | 9.2% |
| ROE % | - | 27.5% | 16.8% | 11.7% | 12.6% |
| ROCE % | - | 29.8% | 16.5% | 12.4% | 14.2% |
Shareholding Pattern
Analyst View
Analyst aggregate. Targets and ratings update periodically; not investment advice.
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