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Happiest Minds Technologies Limited

ISIN : INE419U01012
NSE : HAPPSTMNDS
BSE : 543227
Face Value : 2
Industry : IT - Software

EPS : 16.73
EPS (TTM) : 16.04
Price to Earning (P/E) : 35.67
Book Value : 99.00
Price to Bookvalue (P/B) : 6.03
Dividend Yield : 0 %
Return on Equity (ROE) : 21.46 %
Return on Capital Employed (ROCE) : 23.35 %

Happiest Minds share price (02-Apr-2026)
National Stock Exchange NSE
Open / Close	0 - 0 NAN %
Low / High	0 - 0 NAN %
Trade Volume	0
52 Week Low / High	0 - 0 NAN %
Bombay Stock Exchange BSE
Open / Close	382.95 - 393.25 2.7 %
Low / High	374.85 - 397.35 6 %
Trade Volume	95,907
52 Week Low / High	305.3 - 674 120.8 %

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Consolidated Standalone

CONSOLIDATED QUARTERLY RESULT FOR HAPPIEST MINDS TECHNOLOGIES LIMITED

Date End	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
No of months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months
Net Sales	3005.7	3289.2	3555.1	3668.8	3779.8	3908.7	4066.2	4098.8	4172.9	4638.2
Total Income	3104.8	3327.4	3593.3	3746.8	3864.3	4045.3	4288.3	4341.7	4425	4892.6
Total Expenditure	2289	2449.9	2649.9	2774.2	2858.1	3015.4	3240.1	3289.8	3342.8	3789.8
Other Income	99.1	38.2	38.2	78	84.5	136.6	222.1	242.9	252.1	254.4
Operating Profit	815.8	877.5	943.4	972.6	1006.2	1029.9	1048.2	1051.9	1082.2	1102.8
Interest	28.6	28.3	45.2	57.6	87.5	100.7	111.5	107.2	103.3	198.3
Exceptional Items				-63.4				10.7	129.5
PBDT	787.2	849.2	898.2	851.6	918.7	929.2	936.7	955.4	1108.4	904.5
Depreciation	88.4	93.4	97.1	99.2	129.4	142.4	145.5	148.1	146.9	220.4
Profit Before Tax	698.8	755.8	801.1	752.4	789.3	786.8	791.2	807.3	961.5	684.1
Tax	177.7	192.4	207	176.6	212.7	203.5	206.6	211.1	241.7	173.8
Profit After Tax	521.1	563.4	594.1	575.8	576.6	583.3	584.6	596.2	719.8	510.3
Net Profit	521.1	563.4	594.1	575.8	576.6	583.3	584.6	596.2	719.8	510.3
Equity Capital	285.4	293.72	286.1	293.73	286.6	287.2	298	298.1	298.7	299.1
Face Value (IN RS)	2	2	2	2	2	2	2	2	2	2
Calculated EPS	3.65	3.84	4.15	3.92	4.02	4.06	3.92	4	4.82	3.41
Diluted Eps After Extraordinary Items	3.58	3.88	4.09	3.98	3.98	4.02	3.9	3.96	4.79	3.39
Diluted Eps Before Extraordinary Items	3.58	3.88	4.09	3.98	3.98	4.02	3.9	3.96	4.79	3.39

STANDALONE QUARTERLY RESULT FOR HAPPIEST MINDS TECHNOLOGIES LIMITED

Date End	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
No of months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months	3 months
Net Sales	2868.2	3078.1	3376.5	3447.6	3423.3	3570.5	3700.1	3705.8	3752.4	3724
Total Income	2972.4	3119.3	3417.6	3529.4	3510.4	3709.8	3922.8	4201.7	4007.1	3985.5
Total Expenditure	2136.3	2322	2542.7	2661.6	2619	2757.4	2982.4	3023.6	3077	3119.4
Other Income	104.2	41.2	41.1	81.8	87.1	139.3	222.7	495.9	254.7	261.5
Operating Profit	836.1	797.3	874.9	867.8	891.4	952.4	940.4	1178.1	930.1	866.1
Interest	22.1	23.7	45.1	60.1	86.1	101.1	111.9	106.4	103.3	177.3
Exceptional Items	60.9							10.7	3.6
PBDT	874.9	773.6	829.8	807.7	805.3	851.3	828.5	1082.4	830.4	688.8
Depreciation	66.5	71	73.9	75.2	79.5	75.5	86.8	89.4	91.3	90.6
Profit Before Tax	808.4	702.6	755.9	732.5	725.8	775.8	741.7	993	739.1	598.2
Tax	186.3	177.2	202.8	159.8	213.2	201.4	196.4	194.7	199.8	159.8
Profit After Tax	622.1	525.4	553.1	572.7	512.6	574.4	545.3	798.3	539.3	438.4
Net Profit	622.1	525.4	553.1	572.7	512.6	574.4	545.3	798.3	539.3	438.4
Equity Capital	285.4	293.72	286.1	293.73	286.6	287.2	298	298.1	298.7	299.1
Face Value (IN RS)	2	2	2	2	2	2	2	2	2	2
Calculated EPS	4.36	3.58	3.87	3.9	3.58	4	3.66	5.36	3.61	2.93
Diluted Eps After Extraordinary Items	4.28	3.62	3.81	3.96	3.54	3.96	3.64	5.3	3.59	2.91
Diluted Eps Before Extraordinary Items	4.28	3.62	3.81	3.96	3.54	3.96	3.64	5.3	3.59	2.91

Consolidated Standalone

CONSOLIDATED ANNUAL RESULT FOR HAPPIEST MINDS TECHNOLOGIES LIMITED

Date End	Mar 2022	Mar 2023	Mar 2024
No of months	12 months	12 months	12 months
Net Sales	10936.5	14292.9	16246.6
Total Income	11307.5	14504	17100.3
Total Expenditure	8359.8	10704.3	12888.1
Other Income	371	211.1	853.7
Operating Profit	2947.7	3799.7	4212.2
Interest	99.5	218.6	422.7
Exceptional Items	-60.9	-63.4	140.2
PBDT	2787.3	3517.7	3929.7
Depreciation	328.8	419.1	582.9
Profit Before Tax	2458.5	3098.6	3346.8
Tax	646.5	788.7	862.9
Profit After Tax	1812	2309.9	2483.9
Net Profit	1812	2309.9	2483.9
Equity Capital	285.4	286.6	298.7
Face Value (IN RS)	2	2	2
Reserves	6372.6	8101.6	14503.7
Calculated EPS	12.7	16.12	16.63
Diluted Eps After Extraordinary Items	12.55	16.01	16.73
Diluted Eps Before Extraordinary Items	12.55	16.01	16.73

STANDALONE ANNUAL RESULT FOR HAPPIEST MINDS TECHNOLOGIES LIMITED

Date End	Mar 2022	Mar 2023	Mar 2024
No of months	12 months	12 months	12 months
Net Sales	10335.4	13325.5	14728.8
Total Income	10712.5	13548.9	15841.4
Total Expenditure	7878.7	10117.5	11840.4
Other Income	377.1	223.4	1112.6
Operating Profit	2833.8	3431.4	4001
Interest	83	215	422.7
Exceptional Items			14.3
PBDT	2750.8	3216.4	3592.6
Depreciation	242.3	299.6	343
Profit Before Tax	2508.5	2916.8	3249.6
Tax	643.7	753	792.3
Profit After Tax	1864.8	2163.8	2457.3
Net Profit	1864.8	2163.8	2457.3
Equity Capital	285.4	286.6	298.7
Face Value (IN RS)	2	2	2
Reserves	6412	7973.2	14438.3
Calculated EPS	13.07	15.1	16.45
Diluted Eps After Extraordinary Items	12.91	15	16.55
Diluted Eps Before Extraordinary Items	12.91	15	16.55

Consolidated Standalone

CONSOLIDATED PROFIT / LOSS FOR HAPPIEST MINDS TECHNOLOGIES LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Operating Income	773.41 Cr	1093.65 Cr	1429.29 Cr	1624.66 Cr
Software Services & Operating Revenues	773.06 Cr	1093.65 Cr	1429.22 Cr	1624.66 Cr
Sale of Equipments & licenses	35 Lk	0	7 Lk	0
Operating Income (Net)	773.41 Cr	1093.65 Cr	1429.29 Cr	1624.66 Cr
Power & Fuel Cost	1.84 Cr	2.04 Cr	4.41 Cr	5.67 Cr
Electricity & Power	1.84 Cr	2.04 Cr	4.41 Cr	5.67 Cr
Employee Cost	452.38 Cr	620 Cr	806.81 Cr	1014.69 Cr
Salaries, Wages & Bonus	415.22 Cr	575.98 Cr	749.99 Cr	942.91 Cr
Contributions to EPF & Pension Funds	20.87 Cr	28.39 Cr	37.68 Cr	46.75 Cr
Wheeling & Transmission Charges recoverable	2.34 Cr	1.38 Cr	4.04 Cr	5.55 Cr
Cost of Software developments	17.88 Cr	164.85 Cr	188.62 Cr	176.26 Cr
Technical sub-contractors	0	140.56 Cr	149.16 Cr	128.51 Cr
Software License cost	17.88 Cr	24.29 Cr	39.46 Cr	47.75 Cr
Operating Expenses	81.42 Cr	15.41 Cr	19.56 Cr	20.86 Cr
Repairs and Maintenance	3.37 Cr	3.77 Cr	5.95 Cr	8.86 Cr
General and Administration Expenses	12.94 Cr	22.87 Cr	38.89 Cr	49.81 Cr
Rates & Taxes	69 Lk	96 Lk	55 Lk	91 Lk
Insurance	46 Lk	48 Lk	1.18 Cr	1.38 Cr
Professional and legal fees	1.92 Cr	4.73 Cr	5.5 Cr	8.39 Cr
Selling and Marketing Expenses	2.99 Cr	4.07 Cr	7.38 Cr	10.13 Cr
Advertisement & Sales Promotion	1.01 Cr	2.82 Cr	6.55 Cr	8.73 Cr
Commission, Brokerage & Discounts	1.98 Cr	1.25 Cr	83 Lk	1.4 Cr
Miscellaneous Expenses	12.47 Cr	6.74 Cr	19.09 Cr	11.39 Cr
Provision for doubtful debts	9.8 Cr	1.89 Cr	-59 Lk	5.3 Cr
Loss on disposal of fixed assets(net)	0	0	1 Lk	1 Lk
Loss on foreign exchange fluctuations	0	0	14.33 Cr	0
Total Expenditure	581.92 Cr	835.98 Cr	1084.76 Cr	1288.81 Cr
Other Income	24.24 Cr	37.1 Cr	35.44 Cr	85.37 Cr
Interest Received	8.38 Cr	6.36 Cr	26.1 Cr	79.58 Cr
Profit on sale of Fixed Assets	0	10 Lk	0	0
Profits on sale of Investments	82 Lk	0	0	0
Foreign Exchange Gains	79 Lk	7.86 Cr	0	4.59 Cr
Operating Profit	215.73 Cr	294.77 Cr	379.97 Cr	421.22 Cr
Interest	6.97 Cr	9.95 Cr	21.86 Cr	42.27 Cr
InterestonDebenture / Bonds	0	0	10 Lk	9.48 Cr
Intereston Term Loan	0	3.43 Cr	15.48 Cr	24.6 Cr
PBDT	208.76 Cr	284.82 Cr	358.11 Cr	378.95 Cr
Depreciation	22.74 Cr	32.88 Cr	41.91 Cr	58.29 Cr
Profit Before Taxation & Exceptional Items	186.02 Cr	251.94 Cr	316.2 Cr	320.66 Cr
Exceptional Income / Expenses	0	-6.09 Cr	-6.34 Cr	14.02 Cr
Profit Before Tax	186.02 Cr	245.85 Cr	309.86 Cr	334.68 Cr
Provision for Tax	23.56 Cr	64.65 Cr	78.87 Cr	86.29 Cr
Current Income Tax	35.27 Cr	62.66 Cr	85.08 Cr	95.18 Cr
Deferred Tax	-11.71 Cr	1.55 Cr	-6.21 Cr	-8.89 Cr
Profit After Tax	162.46 Cr	181.2 Cr	230.99 Cr	248.39 Cr
Consolidated Net Profit	162.46 Cr	181.2 Cr	230.99 Cr	248.39 Cr
Profit Balance B/F	-55.97 Cr	105.5 Cr	217.73 Cr	390.64 Cr
Appropriations	106.49 Cr	286.7 Cr	448.72 Cr	639.03 Cr
Equity Dividend %	150	187.5	270	287.5
Earnings Per Share	11.45	12.7	16.13	16.63
Adjusted EPS	11.45	12.7	16.13	16.63

STANDALONE PROFIT / LOSS FOR HAPPIEST MINDS TECHNOLOGIES LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Operating Income	760.96 Cr	1033.54 Cr	1332.55 Cr	1472.88 Cr
Software Services & Operating Revenues	760.61 Cr	1033.54 Cr	1332.48 Cr	1472.88 Cr
Sale of Equipments & licenses	35 Lk	0	7 Lk	0
Operating Income (Net)	760.96 Cr	1033.54 Cr	1332.55 Cr	1472.88 Cr
Power & Fuel Cost	1.84 Cr	2.04 Cr	4.35 Cr	5.49 Cr
Electricity & Power	1.84 Cr	2.04 Cr	4.35 Cr	5.49 Cr
Employee Cost	450.12 Cr	612.1 Cr	786.9 Cr	947.72 Cr
Salaries, Wages & Bonus	412.97 Cr	568.41 Cr	730.43 Cr	878.9 Cr
Contributions to EPF & Pension Funds	20.87 Cr	28.08 Cr	37.38 Cr	45.51 Cr
Wheeling & Transmission Charges recoverable	2.34 Cr	1.36 Cr	4.02 Cr	5.18 Cr
Cost of Software developments	17.32 Cr	129.04 Cr	154.83 Cr	146.73 Cr
Technical sub-contractors	0	107.54 Cr	116.45 Cr	100.44 Cr
Software License cost	17.32 Cr	21.5 Cr	38.38 Cr	46.29 Cr
Operating Expenses	74.84 Cr	15.05 Cr	18.7 Cr	20.65 Cr
Repairs and Maintenance	3.36 Cr	3.76 Cr	5.83 Cr	8.71 Cr
General and Administration Expenses	12.67 Cr	22.17 Cr	37.76 Cr	48.36 Cr
Rates & Taxes	61 Lk	96 Lk	43 Lk	62 Lk
Insurance	44 Lk	48 Lk	1.06 Cr	1.38 Cr
Professional and legal fees	1.9 Cr	4.58 Cr	5.25 Cr	7.86 Cr
Selling and Marketing Expenses	2.32 Cr	2.36 Cr	4.56 Cr	4.94 Cr
Advertisement & Sales Promotion	69 Lk	1.11 Cr	3.85 Cr	5.09 Cr
Commission, Brokerage & Discounts	1.63 Cr	1.25 Cr	71 Lk	-15 Lk
Miscellaneous Expenses	11.7 Cr	5.11 Cr	18.88 Cr	10.15 Cr
Provision for doubtful debts	8.45 Cr	-41 Lk	-58 Lk	4.33 Cr
Loss on foreign exchange fluctuations	0	0	14.23 Cr	0
Total Expenditure	570.81 Cr	787.87 Cr	1025.98 Cr	1184.04 Cr
Other Income	23.42 Cr	37.71 Cr	36.57 Cr	111.26 Cr
Interest Received	8.38 Cr	6.67 Cr	27.25 Cr	80.36 Cr
Dividend Received	0	0	0	25 Cr
Profit on sale of Fixed Assets	0	10 Lk	0	0
Foreign Exchange Gains	79 Lk	7.88 Cr	0	4.75 Cr
Operating Profit	213.57 Cr	283.38 Cr	343.14 Cr	400.1 Cr
Interest	6.92 Cr	8.3 Cr	21.5 Cr	42.27 Cr
InterestonDebenture / Bonds	0	0	10 Lk	9.48 Cr
Intereston Term Loan	0	3.43 Cr	15.47 Cr	24.6 Cr
PBDT	206.65 Cr	275.08 Cr	321.64 Cr	357.83 Cr
Depreciation	20.63 Cr	24.23 Cr	29.96 Cr	34.3 Cr
Profit Before Taxation & Exceptional Items	186.02 Cr	250.85 Cr	291.68 Cr	323.53 Cr
Exceptional Income / Expenses	0	0	0	1.43 Cr
Profit Before Tax	186.02 Cr	250.85 Cr	291.68 Cr	324.96 Cr
Provision for Tax	24.09 Cr	64.37 Cr	75.3 Cr	79.23 Cr
Current Income Tax	35.27 Cr	60.04 Cr	78.89 Cr	83.2 Cr
Deferred Tax	-11.18 Cr	4.33 Cr	-3.59 Cr	-3.97 Cr
Profit After Tax	161.93 Cr	186.48 Cr	216.38 Cr	245.73 Cr
Consolidated Net Profit	161.93 Cr	186.48 Cr	216.38 Cr	245.73 Cr
Profit Balance B/F	-54.57 Cr	106.37 Cr	223.88 Cr	382.4 Cr
Appropriations	107.36 Cr	292.85 Cr	440.26 Cr	628.13 Cr
Equity Dividend %	150	187.5	270	287.5
Earnings Per Share	11.42	13.07	15.11	16.45
Adjusted EPS	11.42	13.07	15.11	16.45

Consolidated Standalone

CONSOLIDATED CASH FLOW FOR HAPPIEST MINDS TECHNOLOGIES LIMITED

Year End	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Profit Before Tax	186.02 Cr	245.85 Cr	309.86 Cr	334.68 Cr
Adjustment	22.78 Cr	30.71 Cr	48.66 Cr	10.93 Cr
Changes In working Capital	-29.15 Cr	-54.97 Cr	-62.53 Cr	-30.63 Cr
Cash Flow after changes in Working Capital	179.65 Cr	221.59 Cr	295.99 Cr	314.98 Cr
Cash Flow from Operating Activities	143.65 Cr	168.12 Cr	207.17 Cr	212.56 Cr
Cash Flow from Investing Activities	-283.63 Cr	-96.08 Cr	-351.02 Cr	-466.41 Cr
Cash Flow from Financing Activitie	169.36 Cr	-90.78 Cr	72.07 Cr	363.47 Cr
Net Cash Inflow / Outflow	29.38 Cr	-18.74 Cr	-71.78 Cr	109.62 Cr
Opening Cash & Cash Equivalents	43.53 Cr	85.83 Cr	67.29 Cr	-1.2 Cr
Cash & Cash Equivalent of Subsidiaries under liquidations	12.98 Cr	0	6 Lk	0
Effect of Foreign Exchange Fluctuations	-6 Lk	20 Lk	3.23 Cr	55 Lk
Closing Cash & Cash Equivalent	85.83 Cr	67.29 Cr	-1.2 Cr	108.97 Cr

STANDALONE CASH FLOW FOR HAPPIEST MINDS TECHNOLOGIES LIMITED

Year End	Mar 2021	Mar 2022	Mar 2023	Mar 2024
No of Months	12 months	12 months	12 months	12 months
Profit Before Tax	186.02 Cr	250.85 Cr	291.68 Cr	324.96 Cr
Adjustment	20.75 Cr	11.95 Cr	28.76 Cr	-27.43 Cr
Changes In working Capital	-20.43 Cr	-50.78 Cr	-64.59 Cr	-23.92 Cr
Cash Flow after changes in Working Capital	186.34 Cr	212.02 Cr	255.85 Cr	273.61 Cr
Cash Flow from Operating Activities	150.34 Cr	159.27 Cr	171.79 Cr	189.07 Cr
Cash Flow from Investing Activities	-283.7 Cr	-110.77 Cr	-343.44 Cr	-435.09 Cr
Cash Flow from Financing Activitie	169.44 Cr	-72.17 Cr	102.46 Cr	358.21 Cr
Net Cash Inflow / Outflow	36.08 Cr	-23.67 Cr	-69.19 Cr	112.19 Cr
Opening Cash & Cash Equivalents	43.5 Cr	79.52 Cr	56.01 Cr	-11.53 Cr
Effect of Foreign Exchange Fluctuations	-6 Lk	16 Lk	1.65 Cr	43 Lk
Closing Cash & Cash Equivalent	79.52 Cr	56.01 Cr	-11.53 Cr	101.09 Cr

Consolidated Standalone

CONSOLIDATED BALANCE SHEET FOR HAPPIEST MINDS TECHNOLOGIES LIMITED

Consolidated Standalone

FINANCIAL RATIOS (CONSOLIDATED) FOR HAPPIEST MINDS TECHNOLOGIES LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Operational & Financial Ratios
Earnings Per Share (Rs)	11.45	12.7	16.13	16.63
CEPS(Rs)	13.06	15	19.06	20.53
DPS(Rs)	3	3.75	5.4	5.75
Book NAV/Share(Rs)	38.24	46.39	58.39	99
Tax Rate(%)	12.67	26.3	25.45	25.78
Margin Ratios
Core EBITDA Margin(%)	24.76	23.56	24.11	20.67
EBIT Margin(%)	24.95	23.39	23.21	23.2
Pre Tax Margin(%)	24.05	22.48	21.68	20.6
PAT Margin (%)	21.01	16.57	16.16	15.29
Cash Profit Margin (%)	23.95	19.57	19.09	18.88
Performance Ratios
ROA(%)	22.88	17.85	16.82	12.87
ROE(%)	42.37	30.09	30.84	21.46
ROCE(%)	36.55	32.61	30.67	23.35
Asset Turnover(x)	1.09	1.08	1.04	0.84
Sales/Fixed Asset(x)	6.19	5.8	4.02	3.04
Working Capital/Sales(x)	1.66	1.95	2.88	1.34
Efficiency Ratios
Fixed Capital/Sales(x)	0.16	0.17	0.25	0.33
Receivable days	55.87	48.28	48.59	52.53
Payable days	24.48	0	0	0
Valuation Parameters
PER(x)	47.16	83.1	47.6	44.74
PCE(x)	41.37	70.34	40.29	36.24
Price/Book(x)	14.13	22.75	13.15	7.52
Yield(%)	0.56	0.36	0.7	0.77
EV/Net Sales(x)	9.93	13.79	7.54	6.29
EV/Core EBITDA(x)	35.61	51.16	28.35	24.26
EV/EBIT(x)	39.81	58.95	32.47	27.11
EV/CE(x)	8.43	13.49	6.61	5.32
M Cap / Sales	9.91	13.77	7.69	6.84
Growth Ratio
Net Sales Growth(%)	10.77	41.41	30.69	13.67
Core EBITDA Growth(%)	90.71	36.94	28.9	10.86
EBIT Growth(%)	136.42	32.88	29.68	13.64
PAT Growth(%)	126.55	11.54	27.48	7.53
EPS Growth(%)	-29.81	10.87	26.94	3.1
Financial Stability Ratios
Total Debt/Equity(x)	0.31	0.29	0.56	0.3
Current Ratio(x)	2.67	2.53	1.86	3.14
Quick Ratio(x)	2.67	2.53	1.86	3.14
Interest Cover(x)	27.69	25.71	15.17	8.92
Total Debt/Mcap(x)	0.02	0.01	0.04	0.04

FINANCIAL RATIOS (STANDALONE) FOR HAPPIEST MINDS TECHNOLOGIES LIMITED

YEAR	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Operational & Financial Ratios
Earnings Per Share (Rs)	11.42	13.07	15.11	16.45
CEPS(Rs)	12.87	14.77	17.2	18.75
DPS(Rs)	3	3.75	5.4	5.75
Book NAV/Share(Rs)	38.28	46.66	57.49	98.57
Tax Rate(%)	12.95	25.66	25.82	24.38
Margin Ratios
Core EBITDA Margin(%)	24.99	23.77	23.01	19.61
EBIT Margin(%)	25.35	25.07	23.5	24.93
Pre Tax Margin(%)	24.45	24.27	21.89	22.06
PAT Margin (%)	21.28	18.04	16.24	16.68
Cash Profit Margin (%)	23.99	20.39	18.49	19.01
Performance Ratios
ROA(%)	23.05	18.91	16.39	13.09
ROE(%)	42.18	30.85	29.06	21.41
ROCE(%)	36.51	32.94	28.96	22.82
Asset Turnover(x)	1.08	1.05	1.01	0.78
Sales/Fixed Asset(x)	10.94	12.12	7.63	5.33
Working Capital/Sales(x)	1.65	1.83	2.74	1.22
Efficiency Ratios
Fixed Capital/Sales(x)	0.09	0.08	0.13	0.19
Receivable days	55.39	48.98	49.32	53.38
Payable days	23.31	0	0	0
Valuation Parameters
PER(x)	47.31	80.75	50.81	45.23
PCE(x)	41.97	71.46	44.63	39.69
Price/Book(x)	14.11	22.61	13.35	7.55
Yield(%)	0.56	0.36	0.7	0.77
EV/Net Sales(x)	10.1	14.6	8.1	6.95
EV/Core EBITDA(x)	36	53.26	31.47	25.57
EV/EBIT(x)	39.85	58.24	34.48	27.86
EV/CE(x)	8.57	14.03	6.9	5.34
M Cap / Sales	10.07	14.57	8.25	7.55
Growth Ratio
Net Sales Growth(%)	8.99	35.82	28.93	10.53
Core EBITDA Growth(%)	86.02	32.98	21.09	16.6
EBIT Growth(%)	131.57	34.64	20.85	17.26
PAT Growth(%)	120.52	15.16	16.03	13.56
EPS Growth(%)	-31.67	14.47	15.55	8.89
Financial Stability Ratios
Total Debt/Equity(x)	0.31	0.29	0.58	0.3
Current Ratio(x)	2.71	2.67	1.89	3.19
Quick Ratio(x)	2.71	2.67	1.89	3.19
Interest Cover(x)	27.88	31.22	14.57	8.69
Total Debt/Mcap(x)	0.02	0.01	0.04	0.04

SHARE HOLDING PATTERN FOR HAPPIEST MINDS TECHNOLOGIES LIMITED

Date	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters %	53.25	53.25	53.25	53.24	53.24	51.35	50.24	50.24	44.22	44.22
FII %	4.00	3.94	4.07	4.15	4.52	5.14	5.05	4.69	5.31	5.33
DII %	0.00	0.00	0.00	0.01	0.00	0.00	0.00	0.00	0.07	0.01
Public %	41.33	41.33	41.36	41.35	40.98	41.09	42.30	42.50	47.62	46.26

PEER COMPARISON FOR HAPPIEST MINDS TECHNOLOGIES LIMITED

No.	Name
1	Subex Limited
2	ROUTE MOBILE LIMITED
3	Happiest Minds Technologies Limited
4	InfoBeans Technologies Limited
5	Airan Limited
6	KPIT Technologies Limited
7	Xelpmoc Design And Tech Limited
8	RPSG VENTURES LIMITED
9	TREJHARA SOLUTIONS LIMITED
10	Newgen Software Technologies Limited
11	Intense Technologies Limited
12	Tera Software Limited
13	Mindteck (India) Limited
14	LTIMindtree Limited
15	Palred Technologies Limited
16	Infibeam Avenues Limited
17	Kellton Tech Solutions Limited
18	Quick Heal Technologies Limited
19	Aurum PropTech Limited
20	Brightcom Group Limited
21	Zen Technologies Limited
22	Intellect Design Arena Limited
23	Cigniti Technologies Limited
24	SECUREKLOUD TECHNOLOGIES LIMITED
25	Dynacons Systems & Solutions Limited
26	Usha Martin Education & Solutions Limited
27	Persistent Systems Limited
28	Expleo Solutions Limited
29	DiGiSPICE Technologies Limited
30	GSS Infotech Limited
31	OnMobile Global Limited
32	Take Solutions Limited
33	Allied Digital Services Limited
34	Megasoft Limited
35	MindTree Limited
36	Cambridge Technology Enterprises Limited
37	IZMO Limited
38	Tanla Platforms Limited
39	Inspirisys Solutions Limited
40	Tech Mahindra Limited
41	R Systems International Limited
42	Kernex Microsystems (India) Limited
43	Aurionpro Solutions Limited
44	FCS Software Solutions Limited
45	Sasken Technologies Limited
46	63 moons technologies limited
47	Saksoft Limited
48	3i Infotech Limited
49	Xchanging Solutions Limited
50	Coforge Limited

CORPORATE ACTIONS FOR HAPPIEST MINDS

Exchange Date	Purpose	Book Closure Dates
BSE 21-Oct-2024	Board Meeting - Quarterly Results	13-Nov-2024
BSE 31-Jul-2024	Board Meeting - Quarterly Results	12-Aug-2024
BSE 30-Jul-2024	Board Meeting - Inter alia, to consider and approve the issue of Non-Convertible Debentures	05-Aug-2024
BSE 14-Jun-2024	Dividend - Rs.3.2500 per share(162.5%)Final Dividend
BSE 07-May-2024	Book Closure - Rs.3.2500 per share(162.5%)Final Dividend & A.G.M.	15-Jun-2024 28-Jun-2024
BSE 07-May-2024	AGM - Rs.3.2500 per share(162.5%)Final Dividend & A.G.M.	28-Jun-2024 28-Jun-2024
BSE 25-Apr-2024	Board Meeting - Final Dividend & Audited Results	06-May-2024
BSE 08-Jan-2024	Board Meeting - Quarterly Results	17-Jan-2024
BSE 30-Oct-2023	Dividend - Rs.2.5000 per share(125%)Interim Dividend
BSE 09-Oct-2023	Board Meeting - Quarterly Results & Interim Dividend	17-Oct-2023
BSE 25-Jul-2023	Board Meeting - Quarterly Results	08-Aug-2023
BSE 12-Jul-2023	Board Meeting - Inter alia, to consider and approve the Issue price, including a discount if any thereto, as permitted under the SEBI ICDR Regulations and pursuant to the approval of the shareholders of our Company accorded through their special resolution passed by way of a postal ballot on November 10, 2022, for the Equity Shares to be allotted to qualified institutional buyers, pursuant to the Issue.	14-Jul-2023
BSE 07-Jul-2023	Dividend - Rs.3.4000 per share(170%)Final Dividend
BSE 08-May-2023	Book Closure - Rs.3.4000 per share(170%)Final Dividend & A.G.M.	08-Jul-2023 17-Jul-2023
BSE 08-May-2023	AGM - Rs.3.4000 per share(170%)Final Dividend & A.G.M.	17-Jul-2023 17-Jul-2023
BSE 26-Apr-2023	Board Meeting - Final Dividend & Audited Results	08-May-2023
BSE 28-Feb-2023	Board Meeting - Inter alia, to consider and approve the issue of Non-Convertible Debentures in domestic market, in one or more tranches, as may be decided by the Directors, and the issue of Commercial Papers in domestic market, in one or more tranches, as may be decided by the Directors.	02-Mar-2023
BSE 09-Jan-2023	Board Meeting - Quarterly Results	19-Jan-2023
BSE 02-Nov-2022	Dividend - Rs.2.0000 per share(100%)Interim Dividend
BSE 07-Oct-2022	Board Meeting - Interim Dividend & Quarterly Results	20-Oct-2022
BSE 30-Sep-2022	Board Meeting - Inter alia, to consider and approve the matter related to raising funds by way of issuance of any instrument or securities, including equity shares, fully / partly convertible debentures, global depository receipts, American depository receipts, foreign currency convertible bonds, warrants, or any combination thereof, in one or more tranches, for an aggregate amount not exceeding ? 14,00,00,00,000...	05-Oct-2022
BSE 12-Jul-2022	Board Meeting - Quarterly Results	21-Jul-2022
BSE 23-Jun-2022	Dividend - Rs.2.0000 per share(100%)Final Dividend
BSE 05-May-2022	Book Closure - Rs.2.0000 per share(100%)Final Dividend & A.G.M.	25-Jun-2022 30-Jun-2022
BSE 05-May-2022	AGM - Rs.2.0000 per share(100%)Final Dividend & A.G.M.	30-Jun-2022 30-Jun-2022
BSE 22-Apr-2022	Board Meeting - Final Dividend & Audited Results	05-May-2022
BSE 17-Jan-2022	Board Meeting - Quarterly Results	28-Jan-2022
BSE 09-Nov-2021	Dividend - Rs.1.7500 per share(87.5%)Interim Dividend
BSE 18-Oct-2021	Board Meeting - Quarterly Results & Interim Dividend	27-Oct-2021

CORPORATE ANNOUNCEMENTS FOR HAPPIEST MINDS

Exchange Date	Category File	Description
BSE 24-Oct-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Newspaper Publication Newspaper Publication of Form No. NCLT 3A(Advertisement Detailing Petition) in the matter of Scheme of Amalgamation of Sri Mookambika Infosolutions Private Limited and Happiest Minds Technologies Limited and their respective Shareholders and Creditors.
BSE 22-Oct-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Press Release / Media Release Happiest Minds positioned as a Major Contender in Everest Groups Cybersecurity PEAK Matrix Assessment - North America 2024
BSE 22-Oct-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation Initimation of Schedule of Earnings Call under Regulation 30(6) of the SEBI(LODR) Regulations 2015.
BSE 21-Oct-2024	Intimation FILE	Board Meeting Intimation for Approval Of Financial Statements For The Quarter And Half Year Ended As On September 30 2024 And To Consider The Declaration Of Interim Dividend. Happiest Minds Technologies Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 13/11/2024 inter alia to consider and approve the unaudited financial statements for the quarter and half year ended as on september 30 2024 and to consider the declaration of interim dividend if any.
BSE 17-Oct-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Scheme of Arrangement Disclosure under Regulation 37(6) of the SEBI (LODR) Regulations 2015
BSE 17-Oct-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Scheme of Arrangement The Board of Directors at its meeting held on October 17 2024 has approved the Scheme of Amalgamation of Happiest Minds Edutech Private Limited with Happiest Minds Technologies Limited and their Shareholders and Creditors as per Section 230 to 232 and other relevant provisions of the Companies Act 2013
BSE 09-Oct-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Press Release / Media Release Launch of Happiest Minds Secureline360 a packaged Manged Detection & Response service offering powered by Generative AI
BSE 04-Oct-2024	General Announcements FILE	Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018 Compliance Certificate pursuant to Regulation 74(5) of SEBI (DP) Regulations 2018
BSE 04-Oct-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Press Release / Media Release Happiest Minds Technologies recognized among Top 100 Indias Best Workplaces for Women 2024
BSE 24-Sep-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Newspaper Publication Newspaper Publication for seeking approval of Central Government for the appointment of Mr. Rajiv Indravadan Shah as Whole-time Director of the Company.
BSE 23-Sep-2024	Outcome FILE	Shareholder Meeting / Postal Ballot-Scrutinizer"s Report Voting Results along with Scrutinizer report for Postal ballot through remote e-Voting process
BSE 23-Sep-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Press Release / Media Release Happiest Minds MD & CFO Venkatraman Narayanan recognized as the Leading CFO of the Year at the CII CFO Excellence Awards 2023-24
BSE 23-Sep-2024	Intimation FILE	Closure of Trading Window Intimation of closure of Trading Window
BSE 10-Sep-2024	General Announcements FILE	Receipt Of Certified True Copy Of First Motion Order By Hon''ble NCLT Bengaluru Bench Receipt of Certified True Copy of First Motion Order by the Honble NCLT Bengaluru bench in the matter of the Scheme of Amalgamation of Sri Mookambika Infosolutions Private limited and Happiest Minds Technologies Limited and their respective Shareholders and Creditors.
BSE 30-Aug-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation Intimation of Schedule of Analyst / Intitutional Investor Meeting under the SEBI (LODR) Regulations 2015
BSE 27-Aug-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Press Release / Media Release Happiest Minds wins Gold and Silver at the Brandon Hall Group HCM Excellence Awards 2024
BSE 21-Aug-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Newspaper Publication Newspaper Publication of Postal Ballot Notice purusant to Regulation 47 of SEBI (LODR) Regulation 2015
BSE 20-Aug-2024	Intimation FILE	Shareholder Meeting / Postal Ballot-Notice of Postal Ballot Please find enclosed herewith Notice of Postal Ballot dated August 20 2024 seeking approval of members for the resolutions stated therein.
BSE 19-Aug-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation Initmation of Schedule of analyst/ Institutional investor meeting under SEBI (LODR) Regulations 2015
BSE 19-Aug-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Earnings Call Transcript Transcript of Earnings Call held on August 13 2024
BSE 14-Aug-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Newspaper Publication Publication of Financials Results for the quarter ended June 30 2024
BSE 13-Aug-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Monitoring Agency Report Report of Monitoring Agency for the Quarter ended June 30 2024
BSE 13-Aug-2024	General Announcements FILE	Audio Recording Of Earnings Call Held For The Quarter Ended June 30 2024 Audio Recording of Earnings Call held for the Quarter ended June 30 2024
BSE 12-Aug-2024	Compliance FILE	Statement Of Deviation/Variation In Utlization Of Funds Raised Through QIP Statement of Deviation/Variation in utlization of funds raised through QIP
BSE 12-Aug-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Investor Presentation Earnings Presentation on the Financials Results of Q1 for FY25
BSE 12-Aug-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Press Release / Media Release Press Release on the Financial Results of Q1 for FY25
BSE 12-Aug-2024	Outcome FILE	Financial Results For June 30 2024 Financial Results for June 30 2024
BSE 12-Aug-2024	Outcome FILE	Board Meeting Outcome for Financials Results For The Quarter Ended June 30 2024 Financials results for the Quarter ended June 30 2024
BSE 07-Aug-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation Intimation of Schedule of Analyst/Institutional Investor Meeting under the SEBI (LODR) Regulations 2015
BSE 05-Aug-2024	General Announcements FILE	Announcement under Regulation 30 (LODR)-Change in Management Appointment of Mr. Mittu Sridhara as an Independent Director and Mr. Rajiv Shah as an Executive Director on the Board of the Company

Exchange Dates	Activity	Qty & Price (%)	Person / Organisation
No Insider trading details found

BULK BLOCK DEALS FOR HAPPIEST MINDS TECHNOLOGIES LIMITED

Exchange Dates	Activity	Qty & Price (%)	Person / Organisation
BSE 25-Jun-2024	Sell BULK	9,136,490 @ 834.87	ASHOK SOOTA
BSE 25-Jun-2024	Buy BULK	930,393 @ 837.57	MANSI SHARE & STOCK ADVISORS PRIVATE LIMITED
BSE 25-Jun-2024	Sell BULK	100,836 @ 838.56	MANSI SHARE & STOCK ADVISORS PRIVATE LIMITED
BSE 25-Jun-2024	Buy BULK	910,488 @ 843.60	PRB SECURITIES PVT. LTD.
BSE 25-Jun-2024	Sell BULK	16,595 @ 841.48	PRB SECURITIES PVT. LTD.
BSE 25-Oct-2022	Sell BLOCK	163,703 @ 996.65	ISHARES CORE EMERGING MARKETS MAURITIUS CO
BSE 25-Oct-2022	Buy BLOCK	163,703 @ 996.65	ISHARES CORE MSCI EMERGING MARKETS ETF
BSE 25-Oct-2022	Sell BLOCK	19,579 @ 996.65	ISHARES INDIA SC MAURITIUS COMPANY
BSE 25-Oct-2022	Buy BLOCK	19,579 @ 996.65	ISHARES MSCI INDIA SMALL-CAP ETF
BSE 17-Oct-2022	Sell BLOCK	163,545 @ 990.90	ISHARES CORE EMERGING MARKETS MAURITIUS CO
BSE 17-Oct-2022	Buy BLOCK	163,545 @ 990.90	ISHARES CORE MSCI EMERGING MARKETS ETF
BSE 17-Oct-2022	Sell BLOCK	19,559 @ 990.90	ISHARES INDIA SC MAURITIUS COMPANY
BSE 17-Oct-2022	Buy BLOCK	19,559 @ 990.90	ISHARES MSCI INDIA SMALL-CAP ETF
BSE 11-Oct-2022	Sell BLOCK	106,453 @ 1027.70	ISHARES CORE EMERGING MARKETS MAURITIUS CO
BSE 11-Oct-2022	Buy BLOCK	106,453 @ 1027.70	ISHARES CORE MSCI EMERGING MARKETS ETF
BSE 11-Oct-2022	Sell BLOCK	12,731 @ 1027.70	ISHARES INDIA SC MAURITIUS COMPANY
BSE 11-Oct-2022	Buy BLOCK	12,731 @ 1027.70	ISHARES MSCI INDIA SMALL-CAP ETF
BSE 19-Sep-2022	Sell BLOCK	115,158 @ 1017.10	ISHARES CORE EMERGING MARKETS MAURITIUS CO
BSE 19-Sep-2022	Buy BLOCK	115,158 @ 1017.10	ISHARES CORE MSCI EMERGING MARKETS ETF
BSE 19-Sep-2022	Sell BLOCK	13,653 @ 1017.10	ISHARES INDIA SC MAURITIUS COMPANY
BSE 19-Sep-2022	Buy BLOCK	13,653 @ 1017.10	ISHARES MSCI INDIA SMALL-CAP ETF
BSE 20-Jun-2022	Sell BULK	1,314,055 @ 800.00	MORGAN STANLEY INVESTMENT FUNDS EMERGING LEADERS EQUITY FUND
BSE 20-Jun-2022	Buy BULK	1,939,325 @ 800.02	PLUTUS WEALTH MANAGEMENT LLP

DIVIDEND BY HAPPIEST MINDS TECHNOLOGIES LIMITED

Ex Dividend Date	Dividend Type	Dividend
27-Nov-2024	INTERIM DIVIDEND	2.5
14-Jun-2024	DIVIDEND	3.25
30-Oct-2023	INTERIM DIVIDEND	2.5
07-Jul-2023	DIVIDEND	3.4
02-Nov-2022	INTERIM DIVIDEND	2
23-Jun-2022	DIVIDEND	2
09-Nov-2021	INTERIM DIVIDEND	1.75
29-Jun-2021	DIVIDEND	3