Happiest Minds Technologies Limited HAPPSTMNDS NSEAITECH
Company Overview
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.
Why Investors Should Care
Return on capital employed stands at 17.2%.
Revenue has grown at a 17.4% CAGR over the past five years.
Trades at a P/E of 27.6, below the sector median of 27.7.
Generates positive free cash flow, funding growth and shareholder returns internally.
Recent Developments
- Mar 2026 Revenue of ₹2,315.11 Cr (+12.3% YoY); net profit ₹212.62 Cr.
- Trailing 12 Months Year-on-year growth — revenue +12.3%, earnings +15.1%.
- 5-Year Trend Long-term compounding — revenue CAGR 17.4%, profit CAGR -2.7%.
Growth & Price Performance
Compounded Sales Growth
| 5 Years: | 17.44% |
| 1 Year: | 12.34% |
Compounded Profit Growth
| 5 Years: | -2.72% |
| 1 Year: | 15.14% |
Stock Price Performance
| 1 Year: | -37.40% |
| 6 Months: | -10.10% |
| 3 Months: | +1.96% |
| 1 Month: | +10.53% |
Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.
Happiest Minds is a digital/cloud-native services firm with AI-led offerings in BFSI, retail and edutech. 'GeneE' GenAI platform; 'Mindful AI' framework.
- Generative-AI Business Services Happiest Minds built a dedicated GenAI practice embedding AI across digital engineering, product and infrastructure services for global clients.
- AI-led product engineering GenAI accelerators improve delivery productivity and support digital-transformation deals.
- Industry AI solutions Domain AI solutions for BFSI, retail, healthcare and edtech clients drive differentiated offerings.
- 'Born-digital' mid-cap IT positioning aggressively around GenAI services.
- Healthy returns (ROE ~14%) though recent profit growth has been muted.
- AI-led offerings can re-accelerate growth as discretionary spend recovers.
- Small scale and integration of acquisitions are key risks at a P/E ~24.
Curated from public filings and analyst commentary; figures are illustrative.
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 Charts
No fundamental data available for this stock.
Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.
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 38.0% below its 52-week high.
- In a downtrend (50-DMA below 200-DMA).
* The pros and cons are auto-generated from financial metrics.
Valuation
Growth (CAGR)
Profitability & Returns
Balance Sheet & Liquidity
Ownership
Financial Snapshot
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 | 389.40 | 27.60 | ₹5,929.58 Cr | 1.89% | 17.16% | 12.58% | 17.44% | -2.72% |
| 2 | TCS Tata Consultancy Services Limited NIFTY50NSEAITECH | 2,173.50 | 15.98 | ₹7.86 L Cr | 3.14% | 54.93% | 45.89% | 5.80% | 5.30% |
| 3 | INFY Infosys Limited NIFTY50NSEAITECH | 1,084.40 | 1,355.50 | ₹4.40 L Cr | 4.68% | 41.66% | 33.85% | 3.44% | 3.58% |
| 4 | HCLTECH HCL Technologies Limited NIFTY50NSEAITECH | 1,176.30 | 18.35 | ₹3.19 L Cr | 8.25% | 27.21% | 22.14% | 8.65% | 3.87% |
| 5 | WIPRO Wipro Limited NIFTY50NSEAITECH | 175.97 | 14.01 | ₹1.85 L Cr | 9.69% | 17.85% | 14.91% | 0.78% | 5.16% |
| 6 | TECHM Tech Mahindra Limited NIFTY50NSEAITECH | 1,474.20 | 27.20 | ₹1.44 L Cr | 3.51% | 19.82% | 16.24% | 2.16% | -0.14% |
| 7 | LTM LTM Limited NSETECH | 4,076.50 | 24.10 | ₹1.21 L Cr | 1.86% | 25.39% | 20.89% | 8.43% | 4.41% |
| 8 | LGEINDIA LG ELECTRONICS INDIA LTD NIFTY_MIDNSETECH | 1,535.10 | 61.82 | ₹1.04 L Cr | 0.00% | 27.64% | 21.98% | 0.98% | - |
| 9 | OFSS Oracle Financial Services Software Limited NIFTY_MIDNSEAITECH | 11,729.00 | 38.82 | ₹1.02 L Cr | 5.71% | 43.24% | 33.72% | 10.42% | 13.48% |
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios
Quarterly Results
Figures in INR.
| Metric | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 378.00 Cr | 391.00 Cr | 407.00 Cr | 410.00 Cr | 417.00 Cr | 464.00 Cr | 522.00 Cr | 530.81 Cr | 544.57 Cr | 549.90 Cr | 574.00 Cr | 587.56 Cr | 604.08 Cr |
| Cost of Revenue | - | - | - | - | - | - | - | 355.77 Cr | 359.16 Cr | 375.45 Cr | - | 392.05 Cr | 404.44 Cr |
| Gross Profit | - | - | - | - | - | - | - | 175.04 Cr | 185.41 Cr | 174.45 Cr | - | 195.51 Cr | 199.64 Cr |
| Operating Expenses | 286.00 Cr | 302.00 Cr | 324.00 Cr | 329.00 Cr | 334.00 Cr | 379.00 Cr | 430.00 Cr | 102.13 Cr | 124.08 Cr | 102.79 Cr | 475.00 Cr | 110.48 Cr | 117.60 Cr |
| Operating Income | 79.00 Cr | 75.00 Cr | 68.00 Cr | 66.00 Cr | 68.00 Cr | 63.00 Cr | 69.00 Cr | 72.91 Cr | 61.33 Cr | 71.66 Cr | 77.00 Cr | 85.03 Cr | 82.04 Cr |
| EBITDA | 92.00 Cr | 89.00 Cr | 83.00 Cr | 81.00 Cr | 83.00 Cr | 85.00 Cr | 92.00 Cr | 116.86 Cr | 97.67 Cr | 124.05 Cr | 99.00 Cr | 100.79 Cr | 124.65 Cr |
| Interest Expense | 9.00 Cr | 10.00 Cr | 11.00 Cr | 11.00 Cr | 10.00 Cr | 20.00 Cr | 28.00 Cr | 26.93 Cr | 24.74 Cr | 24.82 Cr | 25.00 Cr | 24.52 Cr | 22.61 Cr |
| Pretax Income | 79.00 Cr | 79.00 Cr | 79.00 Cr | 81.00 Cr | 96.00 Cr | 68.00 Cr | 68.00 Cr | 68.94 Cr | 50.38 Cr | 76.87 Cr | 73.00 Cr | 54.20 Cr | 80.48 Cr |
| Tax Provision | 21.33 Cr | 20.54 Cr | 20.54 Cr | 21.06 Cr | 24.00 Cr | 17.00 Cr | 18.36 Cr | 18.84 Cr | 16.38 Cr | 19.74 Cr | 18.98 Cr | 13.90 Cr | 19.31 Cr |
| Net Income | 58.00 Cr | 58.00 Cr | 58.00 Cr | 60.00 Cr | 72.00 Cr | 51.00 Cr | 50.00 Cr | 50.10 Cr | 34.00 Cr | 57.13 Cr | 54.00 Cr | 40.30 Cr | 61.17 Cr |
| Diluted EPS | 3.93 | 3.97 | 3.84 | 3.92 | 4.73 | 3.35 | 3.25 | 3.33 | 2.26 | 3.79 | 3.55 | 2.67 | 4.06 |
Profit & Loss (Annual)
Figures in INR.
| Metric | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 590.00 Cr | 698.00 Cr | 773.00 Cr | - | 1,429.29 Cr | 1,624.66 Cr | 2,060.85 Cr | 2,315.11 Cr |
| Cost of Revenue | - | - | - | - | 772.16 Cr | 966.58 Cr | 1,301.35 Cr | 1,483.32 Cr |
| Gross Profit | - | - | - | - | 657.13 Cr | 658.08 Cr | 759.50 Cr | 831.79 Cr |
| Operating Expenses | 535.00 Cr | 601.00 Cr | 582.00 Cr | - | 340.17 Cr | 380.51 Cr | 493.77 Cr | 516.60 Cr |
| Operating Income | 30.00 Cr | 77.00 Cr | 168.00 Cr | - | 316.96 Cr | 277.57 Cr | 265.73 Cr | 315.19 Cr |
| EBITDA | 55.00 Cr | 97.00 Cr | 191.00 Cr | - | 373.63 Cr | 435.24 Cr | 443.64 Cr | 469.76 Cr |
| Interest Expense | 16.00 Cr | 8.00 Cr | 7.00 Cr | - | 21.86 Cr | 42.27 Cr | 99.48 Cr | 97.36 Cr |
| Pretax Income | 13.00 Cr | 74.00 Cr | 186.00 Cr | - | 309.86 Cr | 334.68 Cr | 255.46 Cr | 284.21 Cr |
| Tax Provision | -1.17 Cr | 2.22 Cr | 24.18 Cr | - | 78.87 Cr | 86.29 Cr | 70.80 Cr | 71.59 Cr |
| Net Income | 14.00 Cr | 72.00 Cr | 162.00 Cr | - | 230.99 Cr | 248.39 Cr | 184.66 Cr | 212.62 Cr |
| Diluted EPS | 3.82 | 14.52 | 11.06 | - | 16.01 | 16.73 | 12.26 | 14.11 |
Balance Sheet (Annual)
Figures in INR.
| Metric | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | 414.00 Cr | 508.00 Cr | 915.00 Cr | - | 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 | 144.00 Cr | 150.00 Cr | 193.00 Cr | - | 533.75 Cr | 512.19 Cr | 1,243.59 Cr | 1,486.65 Cr |
| Total Equity | -88.00 Cr | 229.00 Cr | 546.00 Cr | - | 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 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 58.00 Cr | 112.00 Cr | 144.00 Cr | - | 207.17 Cr | 212.56 Cr | 236.42 Cr | 261.41 Cr |
| Investing Cash Flow | 1.00 Cr | -72.00 Cr | -271.00 Cr | - | -351.02 Cr | -466.41 Cr | -762.16 Cr | -121.29 Cr |
| Financing Cash Flow | -59.00 Cr | -13.00 Cr | 169.00 Cr | - | 72.07 Cr | 363.47 Cr | 499.45 Cr | -143.72 Cr |
| Capital Expenditure | -1.00 Cr | 0 | -1.00 Cr | - | -139.41 Cr | -10.30 Cr | -11.17 Cr | -7.16 Cr |
| Free Cash Flow | 57.00 Cr | 112.00 Cr | 143.00 Cr | - | 67.76 Cr | 202.26 Cr | 225.25 Cr | 254.25 Cr |
| Net Change in Cash | -0 | 27.00 Cr | 42.00 Cr | - | -71.78 Cr | 109.62 Cr | -26.29 Cr | -3.60 Cr |
Ratios (Annual)
Figures in %.
| Metric | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin % | - | - | - | - | 46.0% | 40.5% | 36.9% | 35.9% |
| Operating Margin % | 5.1% | 11.0% | 21.7% | - | 22.2% | 17.1% | 12.9% | 13.6% |
| Net Margin % | 2.4% | 10.3% | 21.0% | - | 16.2% | 15.3% | 9.0% | 9.2% |
| ROE % | -15.9% | 31.4% | 29.7% | - | 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.
Latest News
Recent headlines for HAPPSTMNDS
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HAPPSTMNDS — Frequently Asked Questions
What is the current share price of Happiest Minds Technologies Limited (HAPPSTMNDS)?
As of 2026-07-15 09:52 IST, Happiest Minds Technologies Limited (HAPPSTMNDS) trades at ₹389.40 on NSE. Its 52-week range is ₹336.90 to ₹628.46.
What is the market capitalisation of HAPPSTMNDS?
Happiest Minds Technologies Limited (HAPPSTMNDS) has a market capitalisation of ₹5,929.58 Cr on NSE.
What is the P/E ratio of HAPPSTMNDS?
HAPPSTMNDS trades at a trailing price-to-earnings (P/E) ratio of 27.60. The industry average P/E is 27.67. Its price-to-book (P/B) ratio is 3.63.
Does HAPPSTMNDS pay a dividend?
Happiest Minds Technologies Limited (HAPPSTMNDS) currently offers a dividend yield of 1.89%.
What is the return on equity (ROE) of HAPPSTMNDS?
HAPPSTMNDS has a return on equity (ROE) of 12.58%. Its return on capital employed (ROCE) is 17.16%.
Is HAPPSTMNDS a good stock to buy?
This page provides a data-driven analysis of Happiest Minds Technologies Limited (HAPPSTMNDS), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.