Stock HAPPSTMNDS HAPPIEST MINDS TECHNOLOGIES LIMITED
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Financials Happiest Minds Technologies Limited Bombay S.E.

Equities

HAPPSTMNDS

INE419U01012

IT Services & Consulting

Market Closed - Bombay S.E.
Other stock markets
 11:00:49 26/04/2024 BST 		5-day change 1st Jan Change
818.1 INR -0.08% Intraday chart for Happiest Minds Technologies Limited +0.74% -8.67%
04-25 Banking Stocks Lift Indian Equities Higher MT
04-25 Tech companies plug into India's smaller cities for talent RE

Valuation

Fiscal Period: Marzo 2021 2022 2023 2024 2025 2026
Capitalization 1 79,314 150,361 109,841 121,473 - -
Enterprise Value (EV) 1 75,030 150,361 109,841 121,473 121,473 121,473
P/E ratio 47.2 x 84.2 x 48 x 50.8 x 38.7 x 32.8 x
Yield - - - 0.76% 0.87% 1.12%
Capitalization / Revenue 10.3 x 13.7 x 7.69 x 7.44 x 6.21 x 5.26 x
EV / Revenue 10.3 x 13.7 x 7.69 x 7.44 x 6.21 x 5.26 x
EV / EBITDA 41.4 x 58.4 x 30.6 x 35.2 x 27.1 x 22.6 x
EV / FCF 55.5 x - - 58.4 x 53.1 x 42.3 x
FCF Yield 1.8% - - 1.71% 1.88% 2.36%
Price to Book 14 x - 13.2 x 9.44 x 7.49 x 6.59 x
Nbr of stocks (in thousands) 146,864 142,300 143,050 148,600 - -
Reference price 2 540.0 1,057 767.8 817.4 817.4 817.4
Announcement Date 12/05/21 05/05/22 08/05/23 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Marzo 2021 2022 2023 2024 2025 2026
Net sales 1 7,734 10,936 14,293 16,324 19,575 23,084
EBITDA 1 1,915 2,577 3,589 3,452 4,477 5,382
EBIT 1 1,688 2,248 3,170 2,858 3,836 4,650
Operating Margin 21.82% 20.55% 22.18% 17.51% 19.6% 20.14%
Earnings before Tax (EBT) 1 1,860 - 3,099 3,284 4,294 5,172
Net income 1 1,625 1,812 2,310 2,416 3,166 3,870
Net margin 21.01% 16.57% 16.16% 14.8% 16.18% 16.76%
EPS 2 11.45 12.55 16.01 16.10 21.12 24.96
Free Cash Flow 1 1,429 - - 2,080 2,290 2,869
FCF margin 18.47% - - 12.74% 11.7% 12.43%
FCF Conversion (EBITDA) 74.61% - - 60.24% 51.14% 53.31%
FCF Conversion (Net income) 87.94% - - 86.1% 72.3% 74.14%
Dividend per Share 2 - - - 6.233 7.075 9.167
Announcement Date 12/05/21 05/05/22 08/05/23 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 2,207 - 2,645 2,839 - 3,555 3,669 3,780 3,909 4,119 4,136 4,314
EBITDA 1 - - - - - - 972.6 921.7 893.3 902 821 819
EBIT 1 484.6 - 521.9 595 - 808.1 - 792.3 750.9 755.3 682.5 752.7
Operating Margin 21.96% - 19.73% 20.96% - 22.73% - 20.96% 19.21% 18.34% 16.5% 17.45%
Earnings before Tax (EBT) - - - - - - 752.4 789.3 - - - -
Net income - 357.3 444.4 489.2 563.4 594.1 575.8 576.6 - - - -
Net margin - - 16.8% 17.23% - 16.71% 15.69% 15.25% - - - -
EPS - 2.450 - - 3.880 - 3.980 3.980 - - - -
Dividend per Share - - - - - - - - - - - -
Announcement Date 12/05/21 28/07/21 27/10/21 28/01/22 21/07/22 20/10/22 19/01/23 08/05/23 08/08/23 - - -
1INR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: March 2021 2022 2023 2024 2025 2026
Net Debt - - - - - -
Net Cash position 4,284 - - - - -
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 1,429 - - 2,080 2,290 2,869
ROE (net income / shareholders' equity) 40% 29.9% 31.3% 22.7% 21.7% 23.1%
ROA (Net income/ Total Assets) - 17.7% 17% 15.7% 18.4% 19.3%
Assets 1 - 10,235 13,552 15,385 17,209 20,050
Book Value Per Share 2 38.50 - 58.10 86.60 109.0 124.0
Cash Flow per Share - - - - - -
Capex 1 7.8 - - 668 962 812
Capex / Sales 0.1% - - 4.09% 4.92% 3.52%
Announcement Date 12/05/21 05/05/22 08/05/23 - - -
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
817.4 INR
Average target price
911 INR
Spread / Average Target
+11.44%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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