Happiest Minds Technologies Ltd logo

Happiest Minds Technologies Ltd

HAPPSTMNDS NSE

Key Fundamentals

MicrocapComputer Software & ConsultingInformation Technology
Market Cap
₹6,440 Cr
Volatility
Moderate
P/E Ratio
28.65
EBITDA
₹488 Cr
Return on Equity
12.58%
Debt to Equity
0.88
Book Value
₹110.98
EPS
₹15.18
52W High
₹635
52W Low
₹330.2

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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63 extracted metrics + investor summaries across FY18–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 42.5%

Weaknesses

1
  • Promoter holding has decreased over last 3 years: -9.03%

Growth Rate

Revenue Growth
11.00% ↗
Net Income Growth
15.11% ↗
Cash Flow Change
10.57% ↗
ROE
7.25% ↘
ROCE
4.00% ↘
EBITDA Margin (Avg.)
-3.46% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 18d ago
AI opinion · based on fundamentals
Risk high

Happiest Minds Technologies trades at a market cap of ₹5,682 Cr with a PE of 26x and dividend yield of 1.68%. The company has delivered 25% sales CAGR over 5 years but has seen significant stock price correction of -37% over the past year, while promoter holding has declined by 9.03% over three years.

Bull Case 8
  • Strong 5-year compounded sales CAGR of 25%, indicating robust revenue growth trajectory in the digital-first IT services space
  • TTM revenue growth of 12% demonstrates continued business momentum despite broader IT sector headwinds
  • Healthy dividend payout ratio of 42.5% reflects shareholder-friendly capital allocation and confidence in cash flow generation
  • Dividend yield of 1.68% is above average for mid-cap IT companies, providing income support to investors
  • TTM profit growth of 18% outpaces revenue growth of 12%, suggesting margin expansion and operating leverage
  • PE ratio of 26x has compressed significantly from historical highs following the 37% stock price decline, bringing valuation closer to mid-cap IT peers
  • 3-year ROE of 15% and 5-year ROE of 19% indicate consistent ability to generate returns on shareholder equity
  • Price-to-book ratio of 3.43x is reasonable for an asset-light IT services company with 5-year compounded profit growth of 7%
Bear Case 8
  • Stock price has declined 37% over 1 year and shows a 3-year CAGR of -26%, reflecting sustained negative price momentum
  • Promoter holding has decreased by 9.03% over 3 years, signaling potential lack of promoter confidence or stake dilution
  • 3-year compounded profit CAGR of -1% indicates earnings stagnation despite revenue growth over the same period
  • ROE has declined from 5-year average of 19% to last year's 14%, showing deteriorating return efficiency
  • 5-year stock price CAGR of -23% suggests the market has persistently de-rated the company over an extended period
  • 5-year compounded profit CAGR of only 7% significantly lags the 25% sales CAGR over the same period, indicating margin pressure over time
  • Market cap of ₹5,682 Cr places it in the mid-cap segment with higher vulnerability to client concentration risk and limited pricing power versus larger IT peers
  • The gap between TTM profit growth of 18% and 3-year profit CAGR of -1% raises questions about sustainability of recent earnings recovery

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 16d ago
Headwinds 1
  • Promoter may sell 44% stake Jul 13

    Founder Ashok Soota is in advanced talks to sell his entire 44% promoter stake in the company. No buyer, deal value, or structure has been disclosed yet, creating overhang uncertainty.

Positives 2
  • Strong Q1FY27 revenue growth Jul 29

    Consolidated revenue grew 14.3% YoY to ₹6,285 crore in Q1FY27, with adjusted PAT up 14.7% YoY to ₹805 crore, reflecting healthy double-digit growth momentum.

  • ₹3.65 final dividend declared Jul 28

    Shareholders approved a final dividend of ₹3.65 per share for FY26 at the 15th AGM held on July 28, 2026, signaling confidence in cash generation.

Neutral 3
  • Q1FY27 earnings call hosted Jul 28

    Happiest Minds held its Q1FY27 earnings call on July 28 at 10:00 AM IST with Chairman Ashok Soota and CEO Joseph Anantharaju. Audio recording uploaded per SEBI LODR compliance.

  • Results published per SEBI norms Jul 29

    Unaudited Q1FY27 financial results published in designated newspapers on July 29, complying with SEBI listing obligations.

  • Dividend tax deduction notice Jul 4

    Company communicated to shareholders regarding TDS on dividends under the Income Tax Act, 2025 — a routine compliance disclosure.

TL;DR: Happiest Minds delivered a solid Q1FY27 with 14.3% revenue growth and 14.7% PAT growth, supported by a healthy ₹3.65 dividend. The key risk is the potential sale of Ashok Soota's 44% promoter stake, which could bring ownership uncertainty and near-term stock overhang. Operationally the trend is positive, but the promoter exit narrative may weigh on sentiment until deal clarity emerges.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
391
407
410
417
464
522
531
545
550
574
588
604
629
Expenses
302
324
329
334
379
430
437
461
456
475
480
500
511
Operating Profit
89
83
81
83
85
92
94
84
94
99
107
104
118
OPM %
23%
20%
20%
20%
18%
18%
18%
15%
17%
17%
18%
17%
19%
Other Income
14
22
25
38
25
27
23
14
30
22
-6
21
24
Interest
10
11
11
10
20
28
27
25
25
25
25
23
28
Depreciation
14
15
15
15
22
23
21
23
22
22
22
22
23
PBT
79
79
81
96
68
68
69
50
77
73
54
80
90
Tax %
26%
26%
26%
25%
25%
27%
27%
33%
26%
26%
26%
24%
25%
Net Profit
58
58
60
72
51
50
50
34
57
54
40
61
68
EPS in Rs
3.97
3.84
3.92
4.73
3.35
3.25
3.29
2.23
3.75
3.55
2.65
4.02
4.44
Figures in ₹ Crores

Profit & Loss

  Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
590
698
773
1,094
1,429
1,625
2,061
2,315
2,394
Expenses
535
601
582
836
1,070
1,289
1,706
1,912
1,967
Operating Profit
55
97
191
258
359
336
354
403
427
OPM %
9%
14%
25%
24%
25%
21%
17%
17%
18%
Other Income
-1
5
24
31
15
99
89
66
60
Interest
16
8
7
10
22
42
99
97
101
Depreciation
25
20
23
33
42
58
89
88
88
PBT
13
74
186
246
310
335
255
284
298
Tax %
-9%
3%
13%
26%
25%
26%
28%
25%
—
Net Profit
14
72
162
181
231
248
185
213
223
EPS in Rs
3.82
14.52
11.06
12.34
15.73
16.31
12.13
13.96
14.66
Div. Payout %
0%
0%
26%
30%
34%
35%
49%
44%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
6
9
28
29
29
30
30
30
Reserves
-94
220
518
637
810
1,450
1,545
1,659
Borrowings
144
150
193
250
534
512
1,244
1,494
Other Liabilities
358
129
176
205
256
242
505
402
Total Liabilities
414
508
915
1,120
1,628
2,235
3,323
3,586
Fixed Assets
61
38
128
158
432
413
1,211
1,172
CWIP
0
0
0
0
3
0
0
2
Investments
98
83
391
472
13
0
350
504
Other Assets
254
387
395
491
1,181
1,822
1,761
1,909
Total Assets
414
508
915
1,120
1,628
2,235
3,323
3,586
Figures in ₹ Crores

Cash Flow

  Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
58
112
144
168
207
213
236
261
Investing
1
-72
-271
-96
-348
-537
-731
-117
Financing
-59
-13
169
-91
72
363
499
-144
Net Cash Flow
0
27
42
-19
-68
39
4
1
Free Cash Flow
57
112
143
164
68
202
225
255
CFO/OP
111
122
94
86
82
94
95
89
Figures in ₹ Crores

Ratios

  Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
80
60
58
56
54
57
63
62
Cash Conversion Cycle
80
60
58
56
54
57
63
62
Working Capital Days
-86
-21
-33
-23
-50
-28
-109
-117
ROCE %
—
43%
35%
32%
30%
22%
15%
13%

Shareholding Pattern

As of Jun 2026
Promoters 44.21%
Public 38.16%
FIIs 6.00%
Others 5.97%
DIIs 5.66%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
53.25%
53.25%
53.25%
53.25%
53.26%
53.24%
53.24%
53.24%
53.24%
53.24%
51.35%
50.24%
50.24%
44.22%
44.22%
44.22%
44.21%
44.21%
44.21%
44.21%
44.21%
44.21%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
4.69%
5.30%
5.33%
5.34%
5.04%
5.33%
5.39%
5.89%
5.94%
6.00%
DIIs
6.59%
3.29%
1.50%
1.31%
1.05%
1.01%
1.49%
1.32%
1.26%
1.26%
2.42%
2.41%
2.58%
2.86%
4.18%
6.08%
10.59%
10.57%
10.20%
9.63%
8.99%
5.66%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
26.14%
26.61%
28.87%
29.63%
30.56%
31.53%
30.43%
30.57%
30.69%
30.54%
30.92%
31.97%
32.45%
36.42%
35.62%
34.69%
33.43%
32.93%
33.24%
34.00%
34.61%
38.16%
Others
14.01%
16.85%
16.37%
15.80%
15.13%
14.21%
14.83%
14.86%
14.80%
14.96%
15.30%
15.38%
10.04%
11.20%
10.65%
9.67%
6.73%
6.96%
6.96%
6.27%
6.24%
5.97%
No. of Shareholders
2,06,848
3,43,534
5,27,509
6,04,037
6,75,122
7,18,636
7,19,197
7,12,848
7,11,568
6,96,794
7,28,316
7,36,130
7,32,253
7,59,641
7,28,443
7,07,146
6,87,788
6,79,128
6,64,262
6,50,749
6,42,274
6,40,983

Documents

Frequently Asked Questions about Happiest Minds Technologies Ltd

What does Happiest Minds Technologies Ltd do?
Incorporated in 2011, Happiest Minds Technologies Ltd is a next generation IT solutions & services Company[1]
Where is Happiest Minds Technologies Ltd (HAPPSTMNDS) listed?
Happiest Minds Technologies Ltd is listed on the Indian stock exchanges. It is listed on NSE: HAPPSTMNDS and BSE: 543227. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Happiest Minds Technologies Ltd belong to?
Happiest Minds Technologies Ltd operates in the Information Technology sector within the Computer Software & Consulting industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Happiest Minds Technologies Ltd?
Happiest Minds Technologies Ltd has a market capitalisation of approximately ₹6440.46 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Happiest Minds Technologies Ltd?
The Price-to-Earnings (PE) ratio of Happiest Minds Technologies Ltd is 28.65. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Happiest Minds Technologies Ltd?
Over the past 52 weeks, Happiest Minds Technologies Ltd has traded between a low of ₹330.2 and a high of ₹635. This range helps investors understand the stock's price volatility and recent trading levels.
Does Happiest Minds Technologies Ltd pay dividends?
Yes, Happiest Minds Technologies Ltd has a dividend yield of 1.50%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Happiest Minds Technologies Ltd?
Happiest Minds Technologies Ltd has a Return on Equity (ROE) of 12.58%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Happiest Minds Technologies Ltd on Tapetide?
On Tapetide, you can view Happiest Minds Technologies Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Incorporated in 2011, Happiest Minds Technologies Ltd is a next generation IT solutions & services Company[1]

Website happiestminds.com
CEO Mr. Ashok Soota B.E, M.B.A
Employees 4,886
Listed 2020-09-17
Face Value ₹ 2
Issued Size 15,22,74,811

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