Skip to content

    Happiest Minds Technologies Limited

    AI-first digital engineering and IT services firm serving BFSI, healthcare, retail and hi-tech clients.

    Information Technology
    Information Technology
    View HAPPSTMNDS earnings calls
    ₹345.35
    -6.52% from avg

    Overview

    Price

    ₹345.35

    Market Cap

    ₹5.9k Cr

    Sector

    Information Technology

    Information Technology

    Rank

    3

    Performance

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital928292930303030
    Reserves2205186378101.4k1.5k1.6k1.7k
    Borrowings1501932505345121.2k1.3k1.5k
    Other Liabilities129176205256242505472402
    Total Liabilities5089151.1k1.6k2.2k3.3k3.4k3.6k
    AssetsFixed Assets381281584324131.2k1.2k1.2k
    CWIP00030002
    Investments83391472130350466504
    Other Assets3873954911.2k1.8k1.8k1.7k1.9k
    Total Assets5089151.1k1.6k2.2k3.3k3.4k3.6k

    Cash Flow

    Cash Flow

    ₹ Cr · Annual
    Line itemFY19FY20FY21FY22FY23FY24FY25FY26
    ActivitiesCash from Operating58112144168207213236261
    Cash from Investing1-72-271-96-348-537-731-117
    Cash from Financing-59-13169-9172363499-144
    SummaryCapital Expenditure
    Free Cash Flow5711214316468202225255
    FCF Margin

    Valuation

    Assumptions

    Current — HAPPSTMNDS
    Price
    ₹345
    EPS (TTM)
    ₹14.66
    PE (TTM)
    23.6
    Profit growth
    -2.8%

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (49.7×) and current (23.6×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹345
    vs
    Fair value · 15% return
    ₹124
    64%Overvalued

    At -2.8% growth and a 24× exit, ₹345 only delivers your return if you pay ₹124. The price is currently baking in 17% growth.

    EPS grows -2.8%/yr for 5 years, then fades to 6% over 2, exits at 24×.

    YearGrowthEPS (₹)
    FY27-2.8%14.25
    FY28-2.8%13.85
    FY29-2.8%13.46
    FY30-2.8%13.09
    FY31-2.8%12.72
    FY321.6% ·fade12.92
    FY336.0% ·fade13.70

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

    Learn to analyse Happiest Minds Technologies Limited

    Guides on how to read this kind of business and the numbers that matter.