HAPPIEST MINDS TECHNOLOGIES LIMITED Financials Happiest Minds Technologies Limited
Equities
HAPPSTMNDS
INE419U01012
IT Services & Consulting
|
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 774.8 INR | +1.27% |
|
-3.34% | -13.46% |
| May. 29 | Happiest Minds Completes Acquisition of PureSoftware Technologies | MT |
| May. 28 | Happiest Minds Technologies Completes Acquisition of US-Based Aureus Tech Systems | MT |
Valuation
| Fiscal Period: March | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 79,314 | 150,361 | 109,841 | 117,842 | - | - |
| Enterprise Value (EV) 1 | 75,030 | 150,361 | 109,841 | 110,618 | 117,842 | 117,842 |
| P/E ratio | 47.2 x | 84.2 x | 48 x | 44.5 x | 36.6 x | 30.4 x |
| Yield | - | - | - | 0.81% | 1.03% | 1.2% |
| Capitalization / Revenue | 10.3 x | 13.7 x | 7.69 x | 6.81 x | 5.64 x | 4.69 x |
| EV / Revenue | 10.3 x | 13.7 x | 7.69 x | 6.81 x | 5.64 x | 4.69 x |
| EV / EBITDA | 41.4 x | 58.4 x | 30.6 x | 32.9 x | 26.8 x | 21.4 x |
| EV / FCF | 55.5 x | - | - | 56.7 x | 54.2 x | 44.4 x |
| FCF Yield | 1.8% | - | - | 1.76% | 1.84% | 2.25% |
| Price to Book | 14 x | - | 13.2 x | 10.2 x | 6.65 x | 5.65 x |
| Nbr of stocks (in thousands) | 146,864 | 142,300 | 143,050 | 154,011 | - | - |
| Reference price 2 | 540.0 | 1,057 | 767.8 | 765.2 | 765.2 | 765.2 |
| 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 |
|---|---|---|---|---|---|---|
| Net sales 1 | 7,734 | 10,936 | 14,293 | 16,247 | 20,884 | 25,131 |
| EBITDA 1 | 1,915 | 2,577 | 3,589 | 3,358 | 4,395 | 5,507 |
| EBIT 1 | 1,688 | 2,248 | 3,170 | 2,776 | 3,694 | 4,795 |
| Operating Margin | 21.82% | 20.55% | 22.18% | 17.08% | 17.69% | 19.08% |
| Earnings before Tax (EBT) 1 | 1,860 | - | 3,099 | 3,347 | 4,261 | 5,252 |
| Net income 1 | 1,625 | 1,812 | 2,310 | 2,484 | 3,142 | 3,940 |
| Net margin | 21.01% | 16.57% | 16.16% | 15.29% | 15.04% | 15.68% |
| EPS 2 | 11.45 | 12.55 | 16.01 | 16.73 | 20.90 | 25.20 |
| Free Cash Flow 1 | 1,429 | - | - | 2,080 | 2,173 | 2,656 |
| FCF margin | 18.47% | - | - | 12.75% | 10.41% | 10.57% |
| FCF Conversion (EBITDA) | 74.61% | - | - | 59.84% | 49.45% | 48.22% |
| FCF Conversion (Net income) | 87.94% | - | - | 85.56% | 69.17% | 67.4% |
| Dividend per Share 2 | - | - | - | 6.233 | 7.900 | 9.175 |
| 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 | 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 | 4,274 |
| 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 | 729.5 |
| Operating Margin | 21.96% | - | 19.73% | 20.96% | - | 22.73% | - | 20.96% | 19.21% | 18.34% | 16.5% | 17.07% |
| 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 | 5/12/21 | 7/28/21 | 10/27/21 | 1/28/22 | 7/21/22 | 10/20/22 | 1/19/23 | 5/8/23 | 8/8/23 | - | - | - |
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 | 2,173 | 2,656 |
| ROE (net income / shareholders' equity) | 40% | 29.9% | 31.3% | 22.6% | 18.5% | 20.1% |
| ROA (Net income/ Total Assets) | - | 17.7% | 17% | 15.7% | 12.6% | 13.4% |
| Assets 1 | - | 10,235 | 13,552 | 15,482 | 24,937 | 29,406 |
| Book Value Per Share 2 | 38.50 | - | 58.10 | 75.10 | 115.0 | 136.0 |
| Cash Flow per Share | - | - | - | - | - | - |
| Capex 1 | 7.8 | - | - | 668 | 1,011 | 923 |
| Capex / Sales | 0.1% | - | - | 4.1% | 4.84% | 3.67% |
| 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
Trading Rating
Investor Rating
ESG Refinitiv
B
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
6
Last Close Price
765.2
INR
Average target price
881.8
INR
Spread / Average Target
+15.25%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -13.46% | 1.41B | |
| -17.91% | 181B | |
| -1.23% | 161B | |
| +1.38% | 152B | |
| +5.38% | 101B | |
| +12.12% | 83.18B | |
| +19.62% | 73.91B | |
| -8.29% | 69.08B | |
| -31.16% | 45.87B | |
| -8.72% | 42.25B |
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