| Quarterly Financials | Jun 2019 | Sept 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sept 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 |
Revenue  | 168 | 181 | 176 | 190 | 187 | 188 | 201 | 224 | 254 | 274 | 292 | 311 | 330 | 359 | 375 | 386 | 405 | 429 | 435 | 456 | 489 | 549 | 554 | 571 | 580 |
| Expenses | 142 | 147 | 148 | 176 | 139 | 139 | 142 | 165 | 194 | 204 | 216 | 229 | 242 | 265 | 284 | 286 | 302 | 324 | 329 | 334 | 379 | 430 | 437 | 473 | 456 |
| EBITDA | 26 | 34 | 28 | 14 | 48 | 49 | 60 | 59 | 60 | 70 | 76 | 82 | 88 | 94 | 91 | 101 | 103 | 105 | 106 | 121 | 110 | 119 | 117 | 98 | 124 |
| Operating Profit % | 14 % | 16 % | 14 % | 6 % | 21 % | 24 % | 27 % | 25 % | 21 % | 23 % | 24 % | 24 % | 26 % | 25 % | 23 % | 24 % | 23 % | 20 % | 20 % | 20 % | 18 % | 18 % | 18 % | 13 % | 17 % |
| Depreciation | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 7 | 7 | 8 | 9 | 9 | 9 | 10 | 10 | 13 | 14 | 15 | 15 | 15 | 22 | 23 | 21 | 23 | 22 |
| Interest | 3 | 2 | 2 | 2 | 2 | 2 | 1 | 2 | 2 | 2 | 2 | 3 | 3 | 5 | 6 | 9 | 10 | 11 | 11 | 10 | 20 | 28 | 27 | 25 | 25 |
| Profit Before Tax | 18 | 27 | 21 | 7 | 41 | 43 | 53 | 49 | 51 | 59 | 65 | 70 | 76 | 80 | 75 | 79 | 79 | 79 | 81 | 96 | 68 | 68 | 69 | 50 | 77 |
| Tax | 0 | 0 | 0 | 2 | -9 | 9 | 11 | 13 | 16 | 15 | 17 | 18 | 19 | 21 | 18 | 21 | 20 | 21 | 21 | 24 | 17 | 18 | 19 | 16 | 20 |
| Net Profit | 18 | 27 | 21 | 5 | 50 | 34 | 42 | 36 | 36 | 44 | 49 | 52 | 56 | 59 | 58 | 58 | 58 | 59 | 60 | 72 | 51 | 50 | 50 | 34 | 57 |
| EPS in ₹ | 6.08 | 2.01 | 1.60 | 0.49 | 3.73 | 2.51 | 2.98 | 2.55 | 2.51 | 3.12 | 3.44 | 3.68 | 3.96 | 4.15 | 4.02 | 4.01 | 4.04 | 3.92 | 3.98 | 4.79 | 3.39 | 3.29 | 3.33 | 2.26 | 3.79 |
Happiest Minds Technologies
Happiest Minds Technologies
602.85
-4.25
(-0.70%)
Market Cap
9,179.90 Cr
EPS
12.26
PE Ratio
46.32
Dividend Yield
0.98 %
Industry
Information Technology52 Week High
833.00
52 Week Low
519.30
PB Ratio
5.83
Debt to Equity
0.57
Investment Returns
In Long Term
In Short Term
1 Year
0.00%
2 Years
0.00%
3 Years
0.00%
4 Years
0.00%
5 Years
0.00%
Analyst Rating
- By Refinitiv from5 analysts
Company News
View All News
Happiest Minds Technologies Reports 17.5% Revenue Growth and 20th Consecutive Quarter of Sequential Growth2 days ago
Happiest Minds Technologies delivered total income of ₹580 crore for the quarter ended June 30, 2025, representing 18.5% year-on-year growth. The company achieved revenue of $64.4 million in constant currency, marking 2.3% quarter-on-quarter and 17.5% year-on-year growth. This marks the company's 20th consecutive quarter of sequential growth. EBITDA stood at ₹124 crore with a margin of 21.4%, while PAT reached ₹5,713 lakhs, showing 68% quarter-on-quarter and 12% year-on-year growth. The company serves 285 clients with 6,523 employees and achieved utilization of 78.9%. Key project wins include partnerships with global companies across retail, logistics, healthcare, insurance, education, mining, and furniture sectors, focusing on GenAI services, cloud migration, and digital transformation. The company won the CNBC-TV18 India Risk Management Award 2025 and received recognition from AIM Research and Everest Group for its capabilities in data engineering and process automation.
Happiest Minds Technologies is targeting EBITDA margins of 20-22% in FY26, driven by investments in its generative AI business. Managing Director Venkatraman Narayanan stated that the generative AI division achieved operational break-even with a small profit of Rs 24 lakh in Q1FY26 after five to six quarters of investment. The company maintains its vision of reaching $1 billion in revenue by FY31, requiring a 22-23% CAGR. For Q1FY26, the company reported consolidated profit after tax of Rs 57.13 crore (up 12% YoY), revenue of Rs 549.9 crore (up 18.6% YoY), and EBITDA margin of 21.4% compared to 23.9% in the previous year. Shares traded 0.54% higher at Rs 622.7.
Peer Comparison Compare Peers on Screener
Competitors | LTP | Market Cap (₹ Cr.) | P/E Ratio | Revenue (₹ Cr.) | YoY Revenue Growth % | Net Profit (₹ Cr.) | YoY Profit Growth % | RSI |
|---|---|---|---|---|---|---|---|---|
3,003.00 | #1 10,86,511.70 | 22.05 | #1 2,59,286.00 | 5.70 | #1 48,797 | 5.90 | 17.56 | |
1,469.60 | 6,10,511.90 | 22.41 | 1,66,590.00 | 5.18 | 26,750 | 8.63 | 24.29 | |
1,452.10 | 3,94,051.30 | 23.22 | 1,17,055.00 | 8.36 | 18,100 | -9.74 | 20.90 | |
242.75 | 2,54,454.30 | #1 18.91 | 92,911.80 | 0.79 | 13,218 | 9.88 | 31.72 | |
5,017.50 | 1,48,693.40 | 31.51 | 38,997.80 | 7.67 | 4,602 | 10.53 | 38.66 | |
1,438.80 | 1,40,879.30 | 31.03 | 53,843.70 | 1.76 | 4,253 | 30.53 | 24.59 | |
5,061.50 | 79,161.90 | 52.06 | 12,076.90 | #1 21.38 | 1,400 | 38.67 | 26.83 | |
1,706.30 | 57,063.10 | 59.36 | 12,050.70 | 14.41 | 865 | #1 155.85 | 35.55 | |
2,757.40 | 52,459.60 | 30.11 | 14,485.00 | 7.33 | 1,702 | 9.20 | 49.28 | |
694.45 | 42,276.70 | 31.83 | 12,049.30 | 15.83 | 1,174 | 38.27 | 20.24 |
Automatic Screeners on ScanX
Forecast
Actual
Growth Rate
Revenue Growth
26.44 %
Net Income Growth
-25.64 %
Cash Flow Change
11.23 %
ROE
-30.10 %
ROCE
-26.44 %
EBITDA Margin (Avg.)
-14.41 %
Quarterly Financial Results
Balance Sheet
| Balance Sheet | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Total Assets | 414 | 508 | 922 | 1,125 | 1,641 | 2,248 | 3,359 |
| Fixed Assets | 61 | 38 | 128 | 158 | 432 | 413 | 1,211 |
| Current Assets | 334 | 445 | 745 | 927 | 1,073 | 1,778 | 2,001 |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 3 | 0 | 0 |
| Investments | 98 | 83 | 392 | 472 | 13 | 0 | 350 |
| Other Assets | 254 | 387 | 402 | 495 | 1,194 | 1,835 | 1,797 |
| Total Liabilities | 414 | 508 | 922 | 1,125 | 1,641 | 2,248 | 3,359 |
| Current Liabilities | 432 | 212 | 279 | 365 | 576 | 567 | 1,208 |
| Non Current Liabilities | 48 | 31 | 97 | 95 | 226 | 201 | 577 |
| Total Equity | -66 | 265 | 546 | 666 | 839 | 1,480 | 1,575 |
| Reserve & Surplus | -94 | 220 | 518 | 637 | 810 | 1,450 | 1,545 |
| Share Capital | 28 | 45 | 28 | 29 | 29 | 30 | 30 |
Cash Flow
| Cash Flow | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Net Cash Flow | -0 | 27 | 42 | -19 | -69 | 39 | 4 |
| Investing Activities | 1 | -72 | -271 | -96 | -348 | -537 | -732 |
| Operating Activities | 58 | 112 | 143 | 168 | 207 | 213 | 236 |
| Financing Activities | -59 | -13 | 170 | -91 | 72 | 364 | 500 |
Share Holding
| % Holding | Mar 2021 | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 |
| Promoter | 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 % |
| 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 % |
| 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 % |
| 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 % |
| Public / Retail | 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 % |
| 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 % |
| No of Share Holders | 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 |
Dividend History
Dividends per share (FY)
Dividend yield (FY) %
Dividends per share (FY)
Dividend yield (FY) %
| Annual Cash Flows | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3 | 3.75 | 5.4 | 5.75 | 6 |
| Dividend Yield (%) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.28 | 0.49 | 0.73 | 0.96 | 1 |
Corporate Action
| Record Date | Corporate Action | Information | Announcement Day | LTP at Annoucement | LTP at Record Day |
|---|---|---|---|---|---|
| 29 Jul 2025 |  Quarterly Result Announcement | NA | 29 Jul 2025 | 626.95 | 601.25 |
| 29 Jul 2025 |  Annual General Meeting | NA | 29 Jul 2025 | 609.40 | 601.25 |
| 18 Jul 2025 |  Dividend | ₹ 3.50 /share | 18 Jul 2025 | 609.40 | 635.15 |
| 12 May 2025 | Quarterly Result Announcement | NA | 12 May 2025 | 571.85 | 577.50 |
| 04 Feb 2025 | Quarterly Result Announcement | NA | 04 Feb 2025 | 720.95 | 714.80 |
| 27 Nov 2024 | Dividend | ₹ 2.50 /share | 27 Nov 2024 | 757.05 | 726.95 |
| 13 Nov 2024 | Quarterly Result Announcement | NA | 13 Nov 2024 | 796.25 | 757.05 |
| 28 Jun 2024 | Annual General Meeting | NA | 28 Jun 2024 | 807.65 | 815.90 |
| 14 Jun 2024 | Dividend | ₹ 3.25 /share | 14 Jun 2024 | 807.65 | 894.20 |
| 30 Oct 2023 | Dividend | ₹ 2.50 /share | 30 Oct 2023 | 857.60 | 832.00 |
| 07 Jul 2023 | Dividend | ₹ 3.40 /share | 07 Jul 2023 | 870.90 | 985.25 |
| 03 Nov 2022 | Dividend | ₹ 2.00 /share | 02 Nov 2022 | 987.00 | 984.40 |
| 24 Jun 2022 | Dividend | ₹ 2.00 /share | 23 Jun 2022 | 983.30 | 848.75 |
| 10 Nov 2021 | Dividend | ₹ 1.75 /share | 09 Nov 2021 | 1,300.35 | 1,341.50 |
| 01 Jul 2021 | Dividend | ₹ 3.00 /share | 29 Jun 2021 | 841.95 | 1,006.80 |
| 20 May 2020 |  Change Of Name | NA | 20 May 2020 | 0.00 | 0.00 |
Announcements
Communication To Shareholders - Financial Results For The Quarter Ended June 30 2025
2 days ago
2 days agoShareholder Meeting / Postal Ballot-Scrutinizers Report3 days ago
3 days agoAnnouncement under Regulation 30 (LODR)-Newspaper Publication3 days ago
3 days agoAudio Recording Of Earnings Call For The Quarter Ended June 30 20253 days ago
3 days agoShareholder Meeting / Postal Ballot-Outcome of AGM4 days ago
4 days agoAnnouncement under Regulation 30 (LODR)-Scheme of Arrangement5 days ago
5 days agoAnnouncement under Regulation 30 (LODR)-Scheme of Arrangement5 days ago
5 days agoAnnouncement under Regulation 30 (LODR)-Investor Presentation5 days ago
5 days agoAnnouncement under Regulation 30 (LODR)-Press Release / Media Release5 days ago
5 days agoBoard Meeting Outcome for Outcome Of Board Meeting Dated July 29 20255 days ago
5 days agoFinancials Results For The Quarter Ended June 30 20255 days ago
5 days agoAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationJul 21, 2025
Jul 21, 2025Board Meeting Intimation for Approval Of Unaudited Financial Statements For The Quarter Ended As On June 30 2025Jul 21, 2025
Jul 21, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseJul 08, 2025
Jul 08, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Jul 07, 2025
Jul 07, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationJul 05, 2025
Jul 05, 2025Business Responsibility and Sustainability Reporting (BRSR)Jul 04, 2025
Jul 04, 2025Communication To Shareholders - Intimation On Tax Deduction On DividendJul 04, 2025
Jul 04, 2025Reg. 34 (1) Annual Report.Jul 04, 2025
Jul 04, 2025Notice Of The 14Th Annual General Meeting (AGM)Jul 04, 2025
Jul 04, 2025Closure of Trading WindowJun 23, 2025
Jun 23, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseJun 12, 2025
Jun 12, 2025Announcement under Regulation 30 (LODR)-Change in ManagementJun 12, 2025
Jun 12, 2025 Volume Movement LetterJun 10, 2025
Jun 10, 2025Clarification sought from Happiest Minds Technologies LtdJun 10, 2025
Jun 10, 2025Investor Meeting Scheduled For May 23 2025May 22, 2025
May 22, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationMay 22, 2025
May 22, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationMay 22, 2025
May 22, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationMay 19, 2025
May 19, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptMay 17, 2025
May 17, 2025Communication To Shareholders - Financial Results For The Quarter And Financial Year Ended March 31 2025May 16, 2025
May 16, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationMay 15, 2025
May 15, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationMay 14, 2025
May 14, 2025Announcement under Regulation 30 (LODR)-Monitoring Agency ReportMay 13, 2025
May 13, 2025Audio Recording Of Earnings Call For The Quarter Ended March 31 2025May 13, 2025
May 13, 2025Compliances-Reg.24(A)-Annual Secretarial ComplianceMay 13, 2025
May 13, 2025Intimation Of Record Date For Final DividendMay 13, 2025
May 13, 2025Announcement under Regulation 30 (LODR)-Investor PresentationMay 13, 2025
May 13, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseMay 13, 2025
May 13, 2025Board Meeting Outcome for Outcome Of Board Meeting With Auditors Report And UDINMay 13, 2025
May 13, 2025Financial Results For The Quarter And Financial Year Ended March 31 2025May 12, 2025
May 12, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationMay 01, 2025
May 01, 2025Board Meeting Intimation for Approval Of Financial Results For The Quarter And Financial Year Ended March 31 2025May 01, 2025
May 01, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationApr 30, 2025
Apr 30, 2025Communication To The Shareholders Pursuant To Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015Apr 08, 2025
Apr 08, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Apr 04, 2025
Apr 04, 2025Receipt Of Certified True Copy Of First Motion Order By Honble
NCLT Bengaluru BenchApr 01, 2025
Apr 01, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseApr 01, 2025
Apr 01, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationMar 29, 2025
Mar 29, 2025Closure of Trading WindowMar 21, 2025
Mar 21, 2025Technical Indicators
RSI(14)
Neutral 40.54
ATR(14)
Less Volatile 15.91
STOCH(9,6)
Neutral 28.62
STOCH RSI(14)
Neutral 45.49
MACD(12,26)
Bearish -2.53
ADX(14)
Weak Trend 13.39
UO(9)
Bearish 34.45
ROC(12)
Downtrend And Accelerating -3.51
WillR(14)
Neutral -79.94
Mutual Fund Holdings
DSP Nifty Smallcap250 Quality 50 Index Fund Direct - Growth 
Nippon India Nifty Smallcap 250 Index Fund Direct - Growth 
NJ Flexi Cap Fund Direct - Growth 
HDFC Nifty Smallcap 250 Index Fund Direct-Growth 
SBI Nifty Smallcap 250 Index Fund Direct - Growth 
ICICI Prudential Nifty Smallcap 250 Index Fund Direct - Growth 
Edelweiss Nifty Smallcap 250 Index Fund Direct - Growth 
Motilal Oswal Nifty Smallcap 250 Index Fund Direct - Growth 
Kotak Nifty Smallcap 250 Index Fund Direct-Growth 
Bandhan Nifty Smallcap 250 Index Fund Direct-Growth 
Groww Nifty Smallcap 250 Index Fund Direct - Growth 
Angel One Nifty Total Market Index Fund Direct - Growth 
Navi Nifty 500 Multicap 50:25:25 Index Fund Direct-Growth 
Axis Nifty 500 Index Fund Direct-Growth 
Mirae Asset Nifty Total Market Index Fund Direct-Growth About Happiest Minds Technologies
Happiest Minds Technologies Limited is an Indian IT company specializing in digital transformation consulting and services. The company offers solutions in cloud computing, social media, mobility, business intelligence, analytics, unified communications, and Internet of Things. It operates in three main segments: Infrastructure Management & Security Services, Product and Digital Engineering Services, and Generative AI Business Services. Happiest Minds provides services to industries including Retail/CPG, BFSI, Travel & Transportation, Manufacturing, and Media. The company has expertise in technologies such as blockchain, AI, edge computing, and computer vision. It became a public limited company in 2020 and completed an IPO, listing on the National Stock Exchange of India and BSE Limited. Happiest Minds has made strategic acquisitions including PGS Inc. (now Happiest Minds Inc.) and Sri Mookambika Infosolutions Private Limited to expand its capabilities and market presence.
Listing Date
17 Sept, 2020(4 Years,
17 days)
Chairperson NameAshok Soota
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