HAPPSTMNDS · NSE
Happiest Minds Technologies Limited
₹321.55
-1.94% (-₹6.35)
Prev. close
₹327.9
Volume
8,60,696
Delivery %
39.3%
As of
18 Sept 2026
Price history
HDFC Securities · HDFC Securities · 03 Sept 2026
“Downgraded Happiest Minds Technologies (HMT) to 'Add' from 'Buy' and reduced the target price to ₹400 from ₹440. This revision is due to the lack of a takeover premium for minority shareholders and the uncertainty arising from the expected 15-month duration for the integration of HMT and ITC Infotech, which will likely keep the stock under pressure in the near term.”
Analyst sentiment
Analysts are split
2 analyst stances · last 90 days · one per analyst
Trackable
2 · 1 bull / 1 neutral / 0 bear
Long-Horizon
none in window
Commentary
none in window
Trackable = verdict-bearing calls · Long-Horizon = 1yr+ horizon, verdict pending · Commentary = context, not graded
Analyst opinions
| Call | Analyst | Instrument | Verdict | Actions | |||
|---|---|---|---|---|---|---|---|
| “Downgraded Happiest Minds Technologies (HMT) to 'Add' from 'Buy' and reduced the target price to ₹400 from ₹440. This re…” | HDFC SecuritiesHDFC Securities | Happiest Minds Technologies | PENDING | ||||
“Downgraded Happiest Minds Technologies (HMT) to 'Add' from 'Buy' and reduced the target price to ₹400 from ₹440. This revision is due to the lack of a takeover premium for minority shareholders and the uncertainty arising from the expected 15-month duration for the integration of HMT and ITC Infotech, which will likely keep the stock under pressure in the near term.” Rating & targetTrack opinion → This call hasn't reached its evaluation window yet — the verdict will appear here once it's graded. | |||||||
| “Bullish on Happiest Minds Technologies for the next 1-2 weeks, recommending a buy in the ₹446 to ₹433 range with a targe…” | Jigar S. PatelAnand Rathi Share and Stock Brokers | Happiest Minds Technologies | NOT GRADED | ||||
Fundamentals
About Happiest Minds Technologies Limited
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.
Details
Sector
Technology
Industry
Information Technology Services
CEO
Mr. Joseph Vinod Anantharaju
Headquarters
Bengaluru
Employees
6,500
Website
happiestminds.comExchange
View on NSE ↗Key stats
Market cap
₹4,831.67 Cr
P/E ratio (TTM)
21.7
Dividend yield
2.23%
EPS (TTM)
₹14.79
Beta (1Y · daily vs NIFTY 50)
1.24
Beta (5Y · monthly vs NIFTY 50)
0.84
Shares float
8.31 Cr
EPS · quarter ended Jun 2026
₹4.48
Upcoming earnings
28 Oct 2026
Financial Performance
01 · Financials
FY21 growth needs FY20 filings, which the data source doesn't provide.
02 · Earnings Per Share (EPS)
03 · Dividend Profile
Growth compares completed fiscal-year dividend totals on the company's own calendar: April–March (Indian FY), taken from its reported period-ends. Payout ledger: NSE corporate actions.
04 · Operating Efficiency (Growth Rates)
Balance-sheet-based · pre-FY23 not filed in verifiable form
05 · Capital Structure & Asset Utilization
Pre-FY23 not filed in verifiable form
Asset turnover needs a prior year of assets — omitted for the earliest available year.
06 · Asset Base Composition
Pre-FY23 not filed in verifiable form
07 · Debt Level & Coverage
Pre-FY23 not filed in verifiable form
08 · Profit & Loss
Annual
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ₹773.41 Cr | ₹1,093.65 Cr | ₹1,429.29 Cr | ₹1,624.66 Cr | ₹2,060.84 Cr | ₹2,315.11 Cr | |
| EBITDA | ₹215.73 Cr | ₹288.68 Cr | ₹373.63 Cr | ₹435.24 Cr | ₹443.64 Cr | ₹469.76 Cr |
| ₹162.46 Cr | ₹181.20 Cr | ₹230.99 Cr | ₹248.39 Cr | ₹184.66 Cr | ₹212.62 Cr | |
| Diluted EPS | ₹11.45 | ₹12.55 | ₹16.01 | ₹16.73 | ₹12.26 | ₹14.11 |
09 · Balance Sheet
Annual
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ₹915.00 Cr | ₹1,120.00 Cr | ₹1,628.00 Cr | ₹2,235.00 Cr | ₹3,323.00 Cr | ₹3,586.00 Cr | |
| — | ₹249.75 Cr | ₹533.75 Cr | ₹512.19 Cr | ₹1,243.59 Cr | ₹1,486.65 Cr | |
| Stockholders' equity | ₹546.00 Cr | ₹666.00 Cr | ₹839.00 Cr | ₹1,480.00 Cr | ₹1,575.00 Cr | ₹1,689.00 Cr |
Inventory, CWIP, Others, Total debt, Long-term debt, Current (short-term) debt have filed figures for only some of the years shown — no further verified source covers the rest, so those years are left blank rather than estimated.
Annual only — the data source doesn’t publish quarterly balance-sheet detail for most NSE-listed companies.
10 · Cash Flow Statement
Annual
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ₹144.00 Cr | ₹168.00 Cr | ₹207.00 Cr | ₹213.00 Cr | ₹236.00 Cr | ₹261.00 Cr | |
| Investing cash flow | ₹-270.65 Cr | ₹-96.08 Cr | ₹-350.96 Cr | ₹-466.41 Cr | ₹-762.16 Cr | ₹-121.29 Cr |
| ₹169.00 Cr | ₹-91.00 Cr | ₹72.00 Cr | ₹363.00 Cr | ₹499.00 Cr | ₹-144.00 Cr | |
| Capital expenditure | ₹-97.00 L | ₹-4.13 Cr | ₹-139.41 Cr | ₹-10.30 Cr | ₹-11.17 Cr | ₹-7.16 Cr |
| End cash position | ₹85.83 Cr | ₹67.29 Cr | ₹-1.20 Cr | ₹108.97 Cr | ₹119.12 Cr | ₹119.66 Cr |
Annual only — the data source has no quarterly cash-flow-statement coverage.
11 · Shareholding Pattern
NSE, quarterly
| Line item | Sep 21 | Dec 21 | Mar 22 | Jun 22 | Sep 22 | Dec 22 | Mar 23 | Jun 23 | Sep 23 | Dec 23 | Mar 24 | Jun 24 | Sep 24 | Dec 24 | Mar 25 | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 53.25% | 53.25% | 53.26% | 53.25% | 53.25% | 53.25% | 53.24% | 53.24% | 51.35% | 50.24% | 50.24% | 44.22% | 44.22% | 44.22% | 44.21% | 44.21% | 44.21% | 44.21% | 44.21% | 44.21% |
| Public | 43.58% | 43.72% | 43.85% | 43.98% | 44.09% | 44.15% | 44.26% | 44.47% | 46.50% | 47.66% | 47.84% | 53.99% | 54.13% | 54.25% | 54.32% | 54.39% | 54.43% | 54.45% | 54.47% | 54.55% |
| Employee trusts | 3.16% | 3.02% | 2.90% | 2.78% | 2.67% | 2.61% | 2.50% | 2.28% | 2.15% | 2.10% | 1.92% | 1.79% | 1.65% | 1.52% | 1.46% | 1.40% | 1.36% | 1.34% | 1.32% | 1.24% |
Source: NSE quarterly shareholding-pattern filings, collapsed to periods where the reported percentages held steady — a column spanning several quarters means no change was filed across them. No FII/DII sub-split available from this source — Public includes all non-promoter, non-employee-trust holders.
12 · Peer Comparison
Technology
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| Tata Consultancy Services Limited | ₹7.92 L Cr | ₹2,105 | 15.9 | 7.39 | 45.9% | 0.11 | +4.6% | -33.7% |
| Infosys Limited | ₹4.20 L Cr | ₹1,037.7 | 13.5 | — | 33.9% | 0.10 | +4.6% | -31.2% |
| HCL Technologies Limited | ₹3.40 L Cr | ₹1,249.3 | 19.5 | 4.53 | 22.1% | 0.07 | +11.2% | -16.4% |
| Wipro Limited | ₹1.65 L Cr | ₹166.4 | 13.5 | 1.86 | 14.9% | 0.23 | +4.0% | -34.5% |
| Tech Mahindra Limited | ₹1.38 L Cr | ₹1,537.1 | 27.0 | 4.67 | 16.2% | 0.07 | +7.2% | -0.9% |
| LTM Limited | ₹1.26 L Cr | ₹4,275.1 | 24.2 | 5.26 | 20.9% | 0.10 | +11.3% | — |
| One 97 Communications Limited | ₹1.13 L Cr | ₹1,849.9 | 175.9 | 7.05 | 3.5% | 0.01 | +21.5% | +50.5% |
| LG Electronics India Limited | ₹1.11 L Cr | ₹1,652.9 | 60.6 | 14.42 | 22.0% | 0.06 | +1.3% | — |
| Oracle Financial Services Software Limited | ₹1.01 L Cr | ₹11,896 | 29.7 | 12.93 | 33.7% | 0.00 | +12.1% | +29.7% |
| Persistent Systems Limited | ₹85,505.25 Cr | ₹5,416 | 44.7 | 10.91 | 23.8% | 0.06 | +23.5% | -2.7% |
| Dixon Technologies (India) Limited | ₹80,805.72 Cr | ₹13,005 | 43.3 | 17.28 | 30.8% | 0.21 | +25.8% | -29.1% |
| Happiest Minds Technologies Limited | ₹4,920.33 Cr | ₹327.9 | 22.1 | 2.91 | 12.6% | 0.88 | +12.3% | -42.9% |
Ranked by market cap within Technology, same metrics as the Fundamentals screener. Click a column to sort.
Documents
IPO documents
Annual reports
Concall transcripts
Show all 12
Official documents linked from their sources — offer documents as filed with SEBI (sebi.gov.in), annual reports and earnings-call transcripts as published on BSE (bseindia.com) and NSE (nseindia.com). Links open the source's own hosting; nothing is re-hosted here.
Index membership
3 indices
Weight is a free-float market-cap-share estimate from NSE’s live index data, not NSE’s own published (and sometimes capped) index weight. Indices without a live weight feed are listed without one, in alphabetical order after the weighted ones.
IT sector stocks decline today, September 16: Nazara Technologies falls 2.84%, Coforge down 2.12%, Newgen Software drops 1.94%
Happiest Minds Technologies stock declined 0.14% to ₹325.05 in morning trade on September 16, as the broader IT sector index fell 0.32%. Many IT stocks traded lower, with Ramco Systems, Firstsource Solutions, and Cyient among the biggest losers.
Happiest Minds Technologies announces merger with ITC Infotech valued at INR18,087 crores
Happiest Minds Technologies announced a proposed merger with ITC Infotech, valuing the combined entity at approximately INR18,087 crores. Happiest Minds shareholders will receive 25 shares of ITC Infotech for every 81 shares held. This merger aims to help Happiest Minds reach a USD1 billion revenue target by FY28.