Stock HAPPSTMNDS HAPPIEST MINDS TECHNOLOGIES LIMITED
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Financials Happiest Minds Technologies Limited

Equities

HAPPSTMNDS

INE419U01012

IT Services & Consulting

Market Closed - NSE India S.E.
Other stock markets
 07:43:54 2024-07-12 am EDT 		5-day change 1st Jan Change
830.4 INR +2.14% Intraday chart for Happiest Minds Technologies Limited +0.46% -7.32%
Jun. 29 Happiest Minds Technologies Limited Approves Final Dividend for the Financial Year Ended March 31, 2024 CI
Jun. 25 INDIA STOCKS-Financials, banks boost Indian shares to record highs RE

Valuation

Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 79,314 150,361 109,841 110,618 128,525 - -
Enterprise Value (EV) 1 75,030 150,361 109,841 110,618 128,525 128,525 128,525
P/E ratio 47.2 x 84.2 x 48 x 44.5 x 41.6 x 34.4 x -
Yield - - - - 0.88% 1.09% -
Capitalization / Revenue 10.3 x 13.7 x 7.69 x 6.81 x 6.05 x 4.96 x 3.88 x
EV / Revenue 10.3 x 13.7 x 7.69 x 6.81 x 6.05 x 4.96 x 3.88 x
EV / EBITDA 41.4 x 58.4 x 30.6 x 32.9 x 29.5 x 23.1 x -
EV / FCF 55.5 x - - - -261 x 48.1 x -
FCF Yield 1.8% - - - -0.38% 2.08% -
Price to Book 14 x - 13.2 x - 7.15 x 6.18 x -
Nbr of stocks (in thousands) 146,864 142,300 143,050 148,600 154,766 - -
Reference price 2 540.0 1,057 767.8 744.4 830.4 830.4 830.4
Announcement Date 5/12/21 5/5/22 5/8/23 5/6/24 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027
Net sales 1 7,734 10,936 14,293 16,247 21,251 25,935 33,099
EBITDA 1 1,915 2,577 3,589 3,358 4,362 5,570 -
EBIT 1 1,688 2,248 3,170 2,776 3,673 4,800 6,779
Operating Margin 21.82% 20.55% 22.18% 17.08% 17.28% 18.51% 20.48%
Earnings before Tax (EBT) 1 1,860 - 3,099 3,347 4,160 5,184 -
Net income 1 1,625 1,812 2,310 2,484 3,004 3,762 -
Net margin 21.01% 16.57% 16.16% 15.29% 14.13% 14.5% -
EPS 2 11.45 12.55 16.01 16.73 19.98 24.12 -
Free Cash Flow 1 1,429 - - - -493 2,674 -
FCF margin 18.47% - - - -2.32% 10.31% -
FCF Conversion (EBITDA) 74.61% - - - - 48% -
FCF Conversion (Net income) 87.94% - - - - 71.09% -
Dividend per Share 2 - - - - 7.325 9.025 -
Announcement Date 5/12/21 5/5/22 5/8/23 5/6/24 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2022 Q3 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 2,839 - 3,555 3,669 3,780 3,909 4,066 4,099 4,173 4,700
EBITDA 1 - - - 972.6 921.7 893.3 826.1 809 830.1 993
EBIT 1 595 - 808.1 - 792.3 750.9 680.6 660.9 683.2 715.5
Operating Margin 20.96% - 22.73% - 20.96% 19.21% 16.74% 16.12% 16.37% 15.22%
Earnings before Tax (EBT) - - - 752.4 789.3 - - - - -
Net income 489.2 563.4 594.1 575.8 576.6 - - - - -
Net margin 17.23% - 16.71% 15.69% 15.25% - - - - -
EPS - 3.880 - 3.980 3.980 - - - - -
Dividend per Share - - - - - - - - - -
Announcement Date 1/28/22 7/21/22 10/20/22 1/19/23 5/8/23 8/8/23 10/17/23 1/17/24 5/6/24 -
1INR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027
Net Debt - - - - - - -
Net Cash position 4,284 - - - - - -
Leverage (Debt/EBITDA) - - - - - - -
Free Cash Flow 1 1,429 - - - -493 2,674 -
ROE (net income / shareholders' equity) 40% 29.9% 31.3% - 17.9% 20.1% 24.2%
ROA (Net income/ Total Assets) - 17.7% 17% - 12.6% 13.4% -
Assets 1 - 10,235 13,552 - 23,840 28,071 -
Book Value Per Share 2 38.50 - 58.10 - 116.0 134.0 -
Cash Flow per Share - - - - - - -
Capex 1 7.8 - - - 2,485 1,058 -
Capex / Sales 0.1% - - - 11.7% 4.08% -
Announcement Date 5/12/21 5/5/22 5/8/23 5/6/24 - - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Happiest Minds Technologies Limited

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
6
Last Close Price
830.4 INR
Average target price
879.3 INR
Spread / Average Target
+5.89%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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