About
Happiest Minds Technologies Limited, together with its subsidiaries, provides information technology (IT) solutions and services in India, the Americas, Australia, Europe, Asia, the Middle East, and Africa. It operates in three segments: Infrastructure Management and Security Services (IMSS); Product and Digital Engineering Services (PDES); and Generative AI Business Services (GBS). The IMSS segment provides end-to-end infrastructure and security solutions comprising advisory, transformation, managed and hosted services, and secure intelligence solutions with specialization in cloud, virtualization and mobility across a multitude of industry verticals and geographies. Its PDES segment provides platform development, device engineering, quality assurance, experience engineering, and technology acceleration for enterprises and digital natives. The GBS Services segment offers process automation services, workflow optimization services, and predictive analysis services to integrate Generative AI into business processes. Happiest Minds Technologies Limited was incorporated in 2011 and is headquartered in Bengaluru, India.
Key Metrics
as of Sep 2026Market Cap5,391 Cr
P/E23.00
Div Yield1.81 %
Book Value₹111.00
52w High₹583.00
52w Low₹305.00
Face Value₹2.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 561.00 | 543.00 | 433.00 | 430.00 | 491.00 | 388.00 | 404.00 | 403.00 | 372.00 | 375.00 | 371.00 | 370.00 | 357.00 |
| Expenses | 461.00 | 451.00 | 372.00 | 363.00 | 409.00 | 353.00 | 341.00 | 334.00 | 312.00 | 308.00 | 302.00 | 298.00 | 276.00 |
| Operating Profit | 100.00 | 92.00 | 60.00 | 68.00 | 82.00 | 35.00 | 62.00 | 69.00 | 60.00 | 68.00 | 68.00 | 72.00 | 81.00 |
| OPM % | 18.00 | 17.00 | 14.00 | 16.00 | 17.00 | 9.00 | 15.00 | 17.00 | 16.00 | 18.00 | 18.00 | 19.00 | 23.00 |
| Other Income | 24.00 | 15.00 | -5.00 | 39.00 | 30.00 | 38.00 | 22.00 | 27.00 | 26.00 | 26.00 | 51.00 | 22.00 | 14.00 |
| Depreciation | 20.00 | 19.00 | 13.00 | 13.00 | 19.00 | 13.00 | 13.00 | 13.00 | 9.00 | 9.00 | 9.00 | 9.00 | 8.00 |
| Interest | 27.00 | 20.00 | 23.00 | 24.00 | 23.00 | 24.00 | 24.00 | 25.00 | 18.00 | 10.00 | 11.00 | 11.00 | 10.00 |
| Profit before tax | 76.00 | 68.00 | 20.00 | 70.00 | 69.00 | 37.00 | 47.00 | 58.00 | 60.00 | 74.00 | 99.00 | 74.00 | 78.00 |
| Tax % | 25.00 | 27.00 | 28.00 | 19.00 | 26.00 | 17.00 | 27.00 | 26.00 | 27.00 | 27.00 | 20.00 | 26.00 | 26.00 |
| Net Profit | 57.00 | 50.00 | 14.00 | 56.00 | 51.00 | 30.00 | 34.00 | 43.00 | 44.00 | 54.00 | 80.00 | 55.00 | 57.00 |
| EPS in Rs | 3.74 | 3.26 | 0.92 | 3.69 | 3.36 | 2.00 | 2.26 | 2.82 | 2.88 | 3.54 | 5.24 | 3.58 | 3.91 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,726.00 | 1,594.00 | 1,473.00 | 1,333.00 | 1,034.00 | 761.00 | 698.00 | 590.00 | 444.00 | 431.00 | 341.00 | 270.00 |
| Expenses | 1,467.00 | 1,358.00 | 1,184.00 | 1,012.00 | 788.00 | 571.00 | 599.00 | 531.00 | 461.00 | 430.00 | 339.00 | 296.00 |
| Operating Profit | 259.00 | 236.00 | 289.00 | 321.00 | 246.00 | 190.00 | 99.00 | 59.00 | -17.00 | 1.00 | 2.00 | -27.00 |
| OPM % | 15.00 | 15.00 | 20.00 | 24.00 | 24.00 | 25.00 | 14.00 | 10.00 | -3.80 | 0.20 | 0.60 | -10.00 |
| Other Income | 155.00 | 113.00 | 113.00 | 22.00 | 38.00 | 23.00 | 5.00 | -19.00 | 17.00 | 15.00 | 10.00 | 7.00 |
| Interest | 92.00 | 91.00 | 42.00 | 22.00 | 8.00 | 7.00 | 8.00 | 16.00 | 6.00 | 2.00 | 1.00 | 1.00 |
| Depreciation | 51.00 | 51.00 | 34.00 | 30.00 | 24.00 | 21.00 | 20.00 | 20.00 | 7.00 | 6.00 | 5.00 | 5.00 |
| Profit before tax | 270.00 | 207.00 | 325.00 | 292.00 | 251.00 | 186.00 | 75.00 | 4.00 | -13.00 | 7.00 | 5.00 | -26.00 |
| Tax % | 17.00 | 25.00 | 24.00 | 26.00 | 26.00 | 13.00 | 3.00 | 0.00 | 0.00 | 43.00 | 0.00 | 0.00 |
| Net Profit | 224.00 | 155.00 | 246.00 | 216.00 | 186.00 | 162.00 | 73.00 | 4.00 | -13.00 | 4.00 | 5.00 | -26.00 |
| EPS in Rs | 14.72 | 10.21 | 16.14 | 14.73 | 12.70 | 11.03 | 14.87 | 1.11 | -3.52 | 1.17 | 1.51 | -8.93 |
| Dividend Payout % | 43.00 | 58.00 | 35.00 | 36.00 | 29.00 | 26.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 30.00 | 30.00 | 30.00 | 29.00 | 29.00 | 28.00 | 9.00 | 6.00 | 7.00 | 7.00 | 7.00 | 6.00 |
| Reserves | 1,607.00 | 1,494.00 | 1,444.00 | 797.00 | 641.00 | 518.00 | 220.00 | -96.00 | 143.00 | 156.00 | 84.00 | 79.00 |
| Borrowings | 1,421.00 | 1,176.00 | 512.00 | 543.00 | 250.00 | 193.00 | 150.00 | 406.00 | 138.00 | 95.00 | 71.00 | 48.00 |
| Other Liabilities | 313.00 | 333.00 | 222.00 | 208.00 | 163.00 | 168.00 | 129.00 | 95.00 | 71.00 | 54.00 | 51.00 | 49.00 |
| Total Liabilities | 3,371.00 | 3,034.00 | 2,208.00 | 1,576.00 | 1,083.00 | 907.00 | 508.00 | 412.00 | 360.00 | 311.00 | 213.00 | 182.00 |
| Fixed Assets | 291.00 | 316.00 | 203.00 | 199.00 | 63.00 | 29.00 | 38.00 | 61.00 | 44.00 | 11.00 | 8.00 | 7.00 |
| CWIP | 1.00 | 0.00 | 0.00 | 3.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 1,303.00 | 1,133.00 | 197.00 | 197.00 | 524.00 | 489.00 | 83.00 | 98.00 | 161.00 | 155.00 | 70.00 | 68.00 |
| Other Assets | 1,775.00 | 1,584.00 | 1,807.00 | 1,178.00 | 495.00 | 389.00 | 387.00 | 252.00 | 155.00 | 145.00 | 135.00 | 107.00 |
| Total Assets | 3,371.00 | 3,034.00 | 2,208.00 | 1,576.00 | 1,083.00 | 907.00 | 508.00 | 412.00 | 360.00 | 311.00 | 213.00 | 182.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 88.00 | 133.00 | 189.00 | 172.00 | 159.00 | 150.00 | 113.00 |
| Cash from Investing Activity | -23.00 | -650.00 | -506.00 | -342.00 | -111.00 | -284.00 | -72.00 |
| Cash from Financing Activity | -53.00 | 450.00 | 358.00 | 102.00 | -72.00 | 169.00 | -13.00 |
| Net Cash Flow | 12.00 | -67.00 | 41.00 | -68.00 | -24.00 | 36.00 | 27.00 |
| Free Cash Flow | 83.00 | 124.00 | 179.00 | 37.00 | 155.00 | 149.00 | 111.00 |
| CFO/OP % | 58.00 | 90.00 | 95.00 | 80.00 | 86.00 | 98.00 | 120.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 72.00 | 64.00 | 57.00 | 54.00 | 57.00 | 56.00 | 60.00 | 79.00 | 77.00 | 57.00 | 73.00 | 83.00 |
| Cash Conversion Cycle | 72.00 | 64.00 | 57.00 | 54.00 | 57.00 | 56.00 | 60.00 | 79.00 | 77.00 | 57.00 | 73.00 | 83.00 |
| Working Capital Days | -156.00 | -139.00 | -30.00 | -52.00 | -20.00 | -33.00 | -20.00 | 76.00 | 52.00 | 63.00 | 59.00 | 52.00 |
| ROCE % | 13.00 | 14.00 | 22.00 | 27.00 | 31.00 | 34.00 | 27.00 | 16.00 | -6.00 | -1.00 | 1.00 | -26.00 |
Corporate Actions
11 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 17 Jul 2026 | 17 Jul 2026 | — | 3.65 | |
| Dividend | 04 Nov 2025 | 04 Nov 2025 | — | 2.75 | |
| Dividend | 18 Jul 2025 | 18 Jul 2025 | — | 3.50 | |
| Dividend | 27 Nov 2024 | 27 Nov 2024 | — | 2.50 | |
| Dividend | 14 Jun 2024 | 14 Jun 2024 | — | 3.25 | |
| Dividend | 30 Oct 2023 | 30 Oct 2023 | — | 2.50 | |
| Dividend | 07 Jul 2023 | — | — | 3.40 | |
| Dividend | 02 Nov 2022 | 03 Nov 2022 | — | 2.00 | |
| Dividend | 23 Jun 2022 | — | — | 2.00 | |
| Dividend | 09 Nov 2021 | 10 Nov 2021 | — | 1.75 | |
| Dividend | 29 Jun 2021 | — | — | 3.00 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update22 Dec 2025 from care
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Rating update27 Dec 2024 from care
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Rating update29 Dec 2023 from care
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Rating update9 Mar 2023 from care
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Rating update23 Dec 2022 from fitch
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Rating update24 Sep 2021 from fitch
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