NSE: HAPPSTMNDS · BSE: 543227 · ISIN INE419U01012
Happiest Minds Technologies Limited stock analysis
Happiest Minds Technologies Limited ranks #2848 in the TickerSutra evidence-ranked universe with a score of 44/100 and 91% data confidence. The latest captured fundamentals show ROCE of 13.3%, quarterly sales growth of 14.3% and quarterly profit growth of 18.3%.Avoid / exit review
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- 17.4% three-year sales CAGR
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- Debt/equity is above 0.5×
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹1,094cr | ₹258cr | ₹181cr | 24.0% |
| 2023 | ₹1,429cr | ₹359cr | ₹231cr | 25.0% |
| 2024 | ₹1,625cr | ₹336cr | ₹248cr | 21.0% |
| 2025 | ₹2,061cr | ₹354cr | ₹185cr | 17.0% |
| 2026 | ₹2,315cr | ₹403cr | ₹213cr | 17.0% |
| TTM | ₹2,394cr | ₹427cr | ₹223cr | 18.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Certificate under Regulation 57 of SEBI (LODR) Regulations, 2015
RoutineHappiest Minds Technologies Ltd - 543227 - Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011BSE · 25 Sept 2026The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for ITC Infotech India Ltd
RoutineTrading WindowNSE · 23 Sept 2026Happiest Minds Technologies Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
MANAGEMENT COMMENTARY
Signals from filed documents
Until the transaction is completed, both companies will continue to operate independently. In parallel, we will undertake appropriate integration planning, subject to applicable regulatory requirements, to ensure a smooth transition upon completion. For no w, our priorities remain clear: uninterrupted client service, strong business execution and continuity for our people.
A key benefit for Happiest Minds shareholders is that they will continue to participate in the future growth and value creation of the combined, Happiest Minds Technologies Limited September 01, 2026 Page 5 of 26 business which is hurtling towards a revenue top line of a billion dollars by FY28 and operating margins of a similar number expected to be around 18.3% plus. A few salient points on the transaction are: unt
So how that Happiest Minds Technologies Limited September 01, 2026 Page 25 of 26 expansion will happen and what could be the timeline if you can guide us that will help us? Venkatraman N: That margin expansion will happen through scale. The scale difference brings in you are able to defray your SG&A cost over a much larger base.
We have not gone into details of all the 800 customers so far, that will probably take place a couple of months later. But the top customers, what we have seen is that there is no overlap among the top customers from both sides. There could be one customer or two customers, which is a positive because the potential and the upside from cross -selling is potentially pretty high.
So I think on ce we start having more discussions, I definitely see that there would be a lot of focus on how do we do more of cross -selling and leveraging each other's capabilities. As of now, I would say less so on the operational part of it because I think we need to have both entities merged before we really start realizing any operational leverage, but ensuring that our customers get the full benefit of each ot
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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