| 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 | Sept 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 | 595 |
| 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 | 475 |
| 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 | 120 |
| 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 % | 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 | 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 | 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 | 73 |
| 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 | 19 |
| 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 | 54 |
| 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 | 3.59 |
Happiest Minds Technologies
Happiest Minds Technologies
493.65
-3.60
(-0.72%)
Market Cap
₹- Cr
PE Ratio
-
Volume
1,90,468.00
Day High - Low
₹499.55 - ₹491.40
52W High-Low
₹787.65 - ₹486.60
Key Fundamentals
Market Cap
- Cr
EPS
-
PB Ratio
-
Book Value
106.94
EBITDA
-
Dividend Yield
- %
Industry
Information Technology ROE Growth %
-
Debt to Equity
-
Analyst Rating and Forecast
- By Refinitiv from5 analysts
Actual
Company News
View All News
Happiest Minds Technologies launched ELAIRA, an intelligent digital co-worker integrated with ELLIPSE 2.0 platform, designed to transform enterprise support operations with conversational self-service and advanced AI capabilities. The platform delivers up to 40% Tier-1 ticket deflection, 50% reduction in average handling time, and 20% improvement in First Contact Resolution, targeting significant cost optimization across enterprise environments.
Happiest Minds Reports Strong H1 FY26 Results with 11.8% Growth, Raises Growth Commitment to Four Years
Nov 04, 2025
Nov 04, 2025Happiest Minds Technologies delivered robust H1 FY26 performance with revenues of $129.5 million, growing 11.8% in constant currency and EBITDA margins of 20.8%. The company's Generative AI business unit (GBS) was a standout performer, delivering 77.8% year-on-year growth in constant currency for Q2 and 79% for H1, along with 15.3% sequential growth. The Net New Sales initiative added 30 new clients generating approximately $9 million in revenues, representing potential of $50-60 million over the next 3 years. Based on strong performance and pipeline visibility, the company raised its growth commitment from three to four consecutive years of double-digit growth through FY28. Company-wide utilization improved to 80.7%, the highest in 3 years. The Board declared a dividend of INR 2.75 per share.
Happiest Minds Technologies delivered total income of ₹1,175 crore for the half year ended September 30, 2025, representing 13.2% year-on-year growth. Revenue grew 11.8% in constant currency terms. The company reported EBITDA of ₹244 crore with a margin of 20.8% and PAT of ₹111 crore, up 10.6% year-on-year. For the quarter, total income stood at ₹595 crore, up 8.5% year-on-year. Operating revenues in USD reached $129.5 million for H1 and $65.1 million for Q2. The company improved operational efficiency with DSO reducing from 91 days to 88 days and utilization reaching 80.7%, the highest in three years. Employee count stood at 6,554 with trailing 12-month attrition at 17.4%. The Board declared an interim dividend of ₹2.75 per equity share with a record date of November 4, 2025. The company added 13 new clients during the quarter, bringing total clients to 290.
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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 |
|---|---|---|---|---|---|---|---|---|
1,561.00 | - | #1 - | - | - | - | - | 59.14 | |
1,536.70 | - | #1 - | - | - | - | - | 67.78 | |
5,127.00 | - | #1 - | - | - | - | - | 37.49 | |
6,393.50 | - | #1 - | - | - | - | - | 68.21 | |
689.45 | - | #1 - | - | - | - | - | 51.22 | |
468.25 | - | #1 - | - | - | - | - | 49.12 | |
25.58 | - | #1 - | - | - | - | - | 23.04 | |
16.71 | - | #1 - | - | - | - | - | 47.88 | |
35.62 | - | #1 - | - | - | - | - | 40.98 | |
54.82 | - | #1 - | - | - | - | - | 40.15 |
Automatic Screeners on ScanX
Growth Rate
Revenue Growth
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Net Income Growth
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Cash Flow Change
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ROE
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ROCE
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EBITDA Margin (Avg.)
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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 | 367 | 576 | 567 | 1,208 |
| Non Current Liabilities | 48 | 31 | 97 | 92 | 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 | 144 | 168 | 207 | 213 | 236 |
| Financing Activities | -59 | -13 | 169 | -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 | Sept 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 % | 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 % |
| 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 % |
| 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 % |
| 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 % | 33.24 % |
| 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 % |
| 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 | 6,64,262 |
Dividend History
| 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 | 1.21 |
Corporate Action
| Record Date | Corporate Action | Information | Announcement Day | LTP at Annoucement | LTP at Record Day |
|---|---|---|---|---|---|
| 20 May 2020 |  Change Of Name | NA | 20 May 2020 | 0.00 | 0.00 |
| 01 Jul 2021 |  Dividend | ₹ 3.00 /share | 29 Jun 2021 | 841.95 | 1,006.80 |
| 10 Nov 2021 | Dividend | ₹ 1.75 /share | 09 Nov 2021 | 1,300.35 | 1,341.50 |
| 24 Jun 2022 | Dividend | ₹ 2.00 /share | 23 Jun 2022 | 983.30 | 848.75 |
| 03 Nov 2022 | Dividend | ₹ 2.00 /share | 02 Nov 2022 | 987.00 | 984.40 |
| 07 Jul 2023 | Dividend | ₹ 3.40 /share | 07 Jul 2023 | 870.90 | 985.25 |
| 30 Oct 2023 | Dividend | ₹ 2.50 /share | 30 Oct 2023 | 857.60 | 832.00 |
| 14 Jun 2024 | Dividend | ₹ 3.25 /share | 14 Jun 2024 | 807.65 | 894.20 |
| 28 Jun 2024 |  Annual General Meeting | NA | 28 Jun 2024 | 807.65 | 815.90 |
| 13 Nov 2024 |  Quarterly Result Announcement | NA | 13 Nov 2024 | 796.25 | 757.05 |
| 27 Nov 2024 | Dividend | ₹ 2.50 /share | 27 Nov 2024 | 757.05 | 726.95 |
| 04 Feb 2025 | Quarterly Result Announcement | NA | 04 Feb 2025 | 720.95 | 714.80 |
| 12 May 2025 | Quarterly Result Announcement | NA | 12 May 2025 | 571.85 | 577.50 |
| 18 Jul 2025 | Dividend | ₹ 3.50 /share | 18 Jul 2025 | 609.40 | 635.15 |
| 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 |
| 28 Oct 2025 | Quarterly Result Announcement | NA | 28 Oct 2025 | 500.60 | 516.15 |
| 04 Nov 2025 | Dividend | ₹ 2.75 /share | 04 Nov 2025 | 516.15 | 512.10 |
Announcements
Announcement under Regulation 30 (LODR)-Press Release / Media Release5 days ago
5 days agoAnnouncement under Regulation 30 (LODR)-Press Release / Media Release6 days ago
6 days agoAnnouncement under Regulation 30 (LODR)-Newspaper PublicationNov 14, 2025
Nov 14, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptNov 04, 2025
Nov 04, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationOct 31, 2025
Oct 31, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationOct 31, 2025
Oct 31, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationOct 31, 2025
Oct 31, 2025Communication To Shareholders - Financial Results For The Quarter And Half Year Ended September 30 2025Oct 30, 2025
Oct 30, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationOct 30, 2025
Oct 30, 2025Communication To Shareholders - Intimation On Tax Deduction On DividendOct 29, 2025
Oct 29, 2025Audio Recording Of Earnings Call For The Quarter Ended September 30 2025Oct 29, 2025
Oct 29, 2025Intimation Of Record Date For Interim DividendOct 28, 2025
Oct 28, 2025Announcement under Regulation 30 (LODR)-Investor PresentationOct 28, 2025
Oct 28, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseOct 28, 2025
Oct 28, 2025Board Meeting Outcome for For Approval Of Financial Results For The Quarter Ended September 30 2025Oct 28, 2025
Oct 28, 2025Financial Results For The Quarter Ended September 30 2025Oct 28, 2025
Oct 28, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationOct 22, 2025
Oct 22, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationOct 17, 2025
Oct 17, 2025Board Meeting Intimation for Approval Of Financial Statements For The Quarter And Half Year Ended As On September 30 2025 And To Consider The Declaration Of Interim Dividend.Oct 17, 2025
Oct 17, 2025Receipt Of CTC Of Final Order By Honble NCLT Bengaluru BenchOct 16, 2025
Oct 16, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseOct 10, 2025
Oct 10, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Oct 06, 2025
Oct 06, 2025Receipt Of Certified True Copy Of Final Order By Honble NCLT Bengaluru BenchSep 26, 2025
Sep 26, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseSep 23, 2025
Sep 23, 2025Closure of Trading WindowSep 22, 2025
Sep 22, 2025 Shareholder Meeting / Postal Ballot-Scrutinizer"s ReportSep 04, 2025
Sep 04, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseSep 03, 2025
Sep 03, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationAug 29, 2025
Aug 29, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 22, 2025
Aug 22, 2025Receipt Of Certified True Copy Of First Motion Order By Honble NCLT Bengaluru BenchAug 22, 2025
Aug 22, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseAug 13, 2025
Aug 13, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 07, 2025
Aug 07, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 07, 2025
Aug 07, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 07, 2025
Aug 07, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 07, 2025
Aug 07, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationAug 06, 2025
Aug 06, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseAug 06, 2025
Aug 06, 2025Transcript Of 14Th Annual General Meeting Held On July 29 2025Aug 05, 2025
Aug 05, 2025Shareholder Meeting / Postal Ballot-Notice of Postal BallotAug 05, 2025
Aug 05, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptAug 04, 2025
Aug 04, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseAug 04, 2025
Aug 04, 2025Communication To Shareholders - Financial Results For The Quarter Ended June 30 2025Jul 31, 2025
Jul 31, 2025Shareholder Meeting / Postal Ballot-Scrutinizers ReportJul 30, 2025
Jul 30, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationJul 30, 2025
Jul 30, 2025Audio Recording Of Earnings Call For The Quarter Ended June 30 2025Jul 30, 2025
Jul 30, 2025Shareholder Meeting / Postal Ballot-Outcome of AGMJul 29, 2025
Jul 29, 2025Announcement under Regulation 30 (LODR)-Scheme of ArrangementJul 29, 2025
Jul 29, 2025Announcement under Regulation 30 (LODR)-Scheme of ArrangementJul 29, 2025
Jul 29, 2025Announcement under Regulation 30 (LODR)-Investor PresentationJul 29, 2025
Jul 29, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseJul 29, 2025
Jul 29, 2025Mutual Fund Holdings
NJ Balanced Advantage Fund Direct - Growth 
SBI Innovative Opportunities Fund Direct-Growth 
Nippon India Nifty Smallcap 250 Index Fund Direct - Growth 
JioBlackRock Nifty Smallcap 250 Index Fund Direct - Growth 
DSP Nifty Smallcap250 Quality 50 Index Fund Direct - Growth 
Motilal Oswal Nifty Smallcap 250 Index Fund Direct - Growth 
HDFC Nifty Smallcap 250 Index Fund Direct-Growth 
ICICI Prudential Nifty Smallcap 250 Index Fund Direct - Growth 
Navi Nifty 500 Multicap 50:25:25 Index Fund Direct-Growth 
Kotak Nifty Smallcap 250 Index Fund Direct-Growth 
Groww Nifty Smallcap 250 Index Fund Direct - Growth 
Angel One Nifty Total Market Index Fund Direct - Growth 
Bandhan Nifty Total Market Index Fund Direct-Growth 
Axis Nifty 500 Index Fund Direct-Growth 
Edelweiss Nifty Smallcap 250 Index Fund Direct - Growth 
Mirae Asset Nifty Total Market Index Fund Direct-Growth Technical Indicators
RSI(14)
Neutral 42.19
ATR(14)
Less Volatile 10.09
STOCH(9,6)
Neutral 36.39
STOCH RSI(14)
Neutral 41.89
MACD(12,26)
Bullish 0.41
ADX(14)
Weak Trend 12.86
UO(9)
Bearish 37.08
ROC(12)
Downtrend And Accelerating -1.17
WillR(14)
Neutral -76.13
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(5 Years,
-14 days)
Chairperson NameAshok Soota
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