Happiest Minds Technologies Limited

BSE: HAPPSTMNDS543227ISIN INE419U01012

Information Technology
Computers - Software & Consulting
BSE 1000

Share price

₹312.20+0.95 (+0.31%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹519.70
52W low: ₹295.20
Off 52W high: -39.93%
1M return: +2.70%
3M return: -22.08%
6M return: -19.47%
1Y return: -38.39%
20D avg volume: 47,126
50 DMA: ₹332.34
200 DMA: ₹368.04

Key ratios Consolidated

Market cap: ₹4,754 Cr
Current price: ₹312.20
52W high / low: ₹519.70 / ₹295.20
Face value: ₹2.00
P/E: 20.56
P/B: 2.62
EPS (TTM): ₹15.19
Book value / share: ₹118.96
ROE: —
ROCE: 17.20%
Operating margin: —
Net margin: —
Debt / equity: 0.84
Net debt: ₹1,293 Cr
Interest cover: 3.92
Dividend yield: 1.17%
Dividend / share (TTM): ₹3.65
Payout: 24.03%
Cash conversion cycle: 46.3 days

Financials

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	645.43	628.51	604.08	587.56	573.57	549.90	544.57	530.81	521.64	463.82	417.29	409.88
	20.56	23.69	17.61	15.72	21.61	30.03	25.95	22.96	27.03	25.44	25.21	24.29
	665.99	652.20	621.69	603.28	595.18	579.93	570.52	553.77	548.67	489.26	442.50	434.17
	578.48	562.00	544.65	527.05	522.52	503.06	507.98	484.83	480.95	420.85	359.30	354.51
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	428.61	410.90	404.44	392.05	389.01	375.45	359.16	355.77	350.55	299.86	262.77	261.39
	30.86	28.46	22.61	24.52	25.41	24.82	24.74	26.93	27.99	19.83	10.33	10.72
	23.67	22.63	21.56	22.07	22.19	22.36	22.55	20.99	23.12	22.04	14.69	14.81
	95.34	100.01	96.04	88.41	85.91	80.43	101.53	—	—	—	—	—
	87.51	90.20	77.04	76.23	72.66	76.87	62.54	68.94	67.72	68.41	83.20	79.66
	-3.98	0.00	3.44	-22.03	0.00	0.00	-12.16	0.00	0.00	0.00	12.95	1.07
	83.53	90.20	80.48	54.20	72.66	76.87	50.38	68.94	67.72	68.41	96.15	80.73
	21.34	22.60	19.31	13.90	18.64	19.74	16.38	18.84	18.20	17.38	24.17	21.11
	62.19	67.60	61.17	40.30	54.02	57.13	34.00	50.10	49.52	51.03	71.98	59.62
	4.13	4.49	4.06	2.68	3.59	3.79	2.26	3.33	3.29	3.39	4.79	3.98
Key metrics
	138.06	141.29	124.65	100.79	120.26	124.05	97.67	116.86	118.83	110.28	121.17	106.26
	21.40%	22.50%	20.60%	17.20%	21.00%	22.60%	17.90%	22.00%	22.80%	23.80%	29.00%	25.90%
	9.60%	10.80%	10.10%	6.90%	9.40%	10.40%	6.20%	9.40%	9.50%	11.00%	17.20%	14.50%
	4.80%	—	4.60%	—	4.60%	—	3.50%	—	—	—	—	—
	12.50%	14.30%	10.90%	10.70%	10.00%	18.60%	30.50%	29.50%	—	—	—	—
	15.10%	18.30%	79.90%	-19.60%	9.10%	12.00%	-52.80%	-16.00%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	2,466	2,315	2,061	1,625	1,429	1,094
	77.58	84.97	101.38	85.37	21.11	37.10
	2,543	2,400	2,162	1,710	1,450	1,131
	2,212	2,097	1,895	1,389	1,134	878.81
	0.00	0.00	0.00	—	—	—
	0.00	0.00	0.00	—	—	—
	1,636	1,561	1,365	1,015	806.81	620.00
	106.45	97.36	99.48	42.27	21.86	9.95
	89.93	88.19	88.70	58.29	41.91	32.88
	379.80	350.78	341.08	—	—	—
	330.98	302.80	267.62	320.66	316.20	251.94
	-22.57	-18.59	-12.16	14.02	-6.34	-6.09
	308.41	284.21	255.46	334.68	309.86	245.85
	77.15	71.59	70.80	86.29	78.87	64.65
	231.26	212.62	184.66	248.39	230.99	181.20
	15.36	14.12	12.26	16.73	16.13	12.84
Key metrics
	504.79	469.76	443.64	435.24	373.63	288.68
	20.47%	20.30%	21.50%	26.80%	26.10%	26.40%
	9.38%	9.20%	9.00%	15.30%	16.20%	16.60%
	—	17.20%	16.50%	—	—	—
	12.13%	12.30%	26.80%	13.70%	30.70%	—
	18.44%	15.10%	-25.70%	7.50%	27.50%	—
	—	258.50	228.76	—	—	—
	—	1.23	1.28	—	—	—
	—	0.84	0.74	—	—	—
	—	1,293	1,042	—	—	—
	—	46.3	44.8	—	—	—
Balance sheet
	—	3,625	3,359	—	—	—
	—	2,076	2,001	—	—	—
	—	119.66	119.12	—	—	—
	—	390.27	358.13	—	—	—
	—	0.00	0.00	—	—	—
	—	101.88	56.82	—	—	—
	—	134.76	210.54	—	—	—
	—	96.51	104.81	—	—	—
	—	1,402	1,208	—	—	—
	—	1,413	1,161	—	—	—
	—	1,070	825.54	—	—	—
	—	342.92	335.37	—	—	—
	—	1,689	1,575	—	—	—
Cash flow
	—	261.41	236.42	—	—	—
	—	-121.29	-762.16	—	—	—
	—	-143.72	499.46	—	—	—
	—	2.91	7.66	—	—	—

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	589.59	560.71	457.21	432.69	430.45	402.41	361.09	373.23	374.65	372.40	375.24	370.58
	20.59	23.62	91.74	15.72	39.00	28.72	92.99	22.02	26.41	26.15	25.47	49.59
	610.18	584.33	548.95	448.41	469.45	431.13	454.08	395.25	401.06	398.55	400.71	420.17
	528.30	508.01	422.96	408.41	399.70	376.10	368.71	355.97	348.82	338.73	327.16	321.94
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	394.86	371.00	314.58	300.62	295.13	265.39	254.83	260.41	253.90	248.80	245.73	244.24
	29.82	27.35	21.83	23.30	23.94	23.33	24.55	24.47	24.93	17.73	10.33	10.64
	21.29	19.96	12.41	12.92	13.10	9.41	9.24	9.52	9.37	9.06	9.13	8.94
	82.33	89.70	74.14	71.57	67.53	77.97	80.09	—	—	—	61.97	—
	81.88	76.32	125.99	40.00	69.75	55.03	85.37	39.28	52.24	59.82	73.55	98.23
	-3.98	0.00	0.00	-20.41	0.00	0.00	-23.44	—	—	—	0.36	1.07
	77.90	76.32	125.99	19.59	69.75	55.03	61.93	39.28	52.24	59.82	73.91	99.30
	20.36	19.44	12.62	5.56	13.52	14.45	4.17	10.58	13.98	15.98	19.98	19.47
	57.54	56.88	113.37	14.03	56.23	40.58	57.76	28.70	38.26	43.84	53.93	79.83
	3.82	3.78	7.53	0.93	3.74	2.70	5.74	1.91	2.54	2.91	3.59	5.32
Key metrics
	129.01	123.63	160.23	55.81	106.79	87.77	95.72	73.27	86.54	86.61	93.37	118.88
	21.90%	22.00%	35.00%	12.90%	24.80%	21.80%	26.50%	19.60%	23.10%	23.30%	24.90%	32.10%
	9.80%	10.10%	24.80%	3.20%	13.10%	10.10%	16.00%	7.70%	10.20%	11.80%	14.40%	21.50%
	4.80%	—	7.20%	—	4.80%	—	4.40%	—	—	—	—	—
	37.00%	39.30%	26.60%	15.90%	14.90%	8.10%	-3.80%	0.70%	—	—	—	—
	2.30%	40.20%	96.30%	-51.10%	47.00%	-7.40%	7.10%	-64.00%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	2,040	1,726	1,481	1,473	1,333	1,034
	151.67	175.13	167.57	111.26	22.34	37.71
	2,192	1,901	1,649	1,584	1,355	1,071
	1,868	1,610	1,412	1,261	1,063	820.40
	0.00	0.00	0.00	—	—	—
	0.00	0.00	0.00	—	—	—
	1,381	1,193	1,018	947.72	786.90	612.10
	102.30	92.23	91.68	42.27	21.50	8.30
	66.58	51.14	37.19	34.30	29.96	24.23
	317.74	274.52	265.42	236.32	—	—
	324.19	290.72	236.71	323.53	291.68	250.85
	-24.39	-20.41	-23.44	1.43	—	—
	299.80	270.31	213.27	324.96	291.68	250.85
	57.98	46.19	44.71	79.23	75.30	64.37
	241.82	224.12	168.56	245.73	216.38	186.48
	16.06	14.88	11.20	16.55	15.11	13.21
Key metrics
	468.68	413.68	342.14	401.53	343.14	283.38
	22.97%	24.00%	23.10%	27.30%	25.80%	27.40%
	11.85%	13.00%	11.40%	16.70%	16.20%	18.00%
	—	17.60%	15.40%	—	—	—
	30.18%	16.50%	0.60%	10.50%	28.90%	—
	31.95%	33.00%	-31.40%	13.60%	16.00%	—
	—	86.29	101.68	—	—	—
	—	0.39	0.64	—	—	—
	—	0.83	0.71	—	—	—
	—	1,296	1,058	—	—	—
	—	55.1	43.8	—	—	—
Balance sheet
	—	3,381	3,054	—	—	—
	—	1,937	1,783	—	—	—
	—	57.64	45.11	—	—	—
	—	338.80	264.25	—	—	—
	—	0.00	0.00	—	—	—
	—	92.84	36.79	—	—	—
	—	131.38	196.11	—	—	—
	—	78.09	86.58	—	—	—
	—	1,322	1,076	—	—	—
	—	1,354	1,103	—	—	—
	—	1,073	767.50	—	—	—
	—	281.28	335.37	—	—	—
	—	1,637	1,552	—	—	—
Cash flow
	—	87.73	107.14	—	—	—
	—	-23.58	-613.16	—	—	—
	—	-53.29	450.08	—	—	—
	—	1.44	5.46	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +9.01%
Sales CAGR 5Y: —
Profit CAGR 3Y: +1.18%
Profit CAGR 5Y: —
Sales YoY (TTM): +30.18%
Profit YoY (TTM): +31.95%

Consolidated

Sales CAGR 3Y: +17.44%
Sales CAGR 5Y: —
Profit CAGR 3Y: -2.72%
Profit CAGR 5Y: —
Sales YoY (TTM): +12.13%
Profit YoY (TTM): +18.44%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 44.22%

Quarter	September 2026	June 2026
Promoter %	44.22%	44.22%

Holder	Type	Holding	Previous	Change
ASHOK SOOTA	Promoter	32.34%	32.34%	0.00%
ASHOK SOOTA MEDICAL RESEARCH LLP	Promoter Group	11.79%	11.79%	0.00%
NUGGEHALLI KRISHNAMACHARYA SRIRANGANARAYANAN	Public	1.22%	1.24%	-0.02%
USHA SAMUEL	Promoter Group	0.05%	0.05%	0.00%
DEEPAK SOOTA	Promoter Group	0.02%	0.02%	0.00%
VEENA SOOTA	Promoter Group	0.01%	0.01%	0.00%
KUNKU SOOTA	Promoter Group	0.01%	0.01%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Tata Consultancy Services Ltd.	8,81,004	2,435.00	16.99	54.90%	+9.92% TTM	+4.37% TTM	-18.56%
Infosys Ltd	4,57,410	1,127.10	14.86	39.00%	+11.73% TTM	+9.34% TTM	-23.22%
HCL Technologies Ltd	3,81,270	1,405.00	20.80	27.20%	+12.76% TTM	+7.93% TTM	-8.09%
Wipro Ltd.	1,91,922	193.75	14.51	18.60%	+8.22% TTM	-2.44% TTM	-18.61%
Tech Mahindra Limited	1,74,643	1,781.70	31.35	19.80%	+13.60% TTM	+24.88% TTM	+26.47%
LTM LIMITED	1,24,174	4,186.00	23.90	25.80%	+14.67% TTM	+7.10% TTM	-25.47%
Persistent Systems Limited	99,915	6,025.00	55.41	29.40%	+27.10% TTM	+8.29% TTM	+2.88%
COFORGE LIMITED	91,044	2,055.00	43.36	18.70%	+41.21% TTM	+56.10% TTM	+16.26%
Mphasis Limited	47,635	2,494.65	24.93	23.00%	+13.69% TTM	+9.84% TTM	-9.81%
Hexaware Technologies Limited	30,618	501.10	21.83	—	+13.45% TTM	+0.39% TTM	-27.90%
Tata Elxsi Ltd S	23,210	3,725.10	34.63	26.20%	+10.01% TTM	-0.07% TTM	-30.72%
Fractal Analytics Limited	14,551	835.75	39.49	12.50%	—	—	—
KPIT Technologies Ltd	14,310	522.00	26.83	22.10%	+9.16% TTM	-30.96% TTM	-54.81%
IDream Film Infrastructure Company Limited	12,831	467.35	9,786.82	2.10%	—	+690.91% TTM	+164.86%
Zensar Technologies Ltd.	12,138	532.95	15.46	21.00%	+8.81% TTM	+11.99% TTM	-27.59%
RateGain Travel Technologies Limited	9,406	793.55	38.81	9.80%	+114.36% TTM	+15.14% TTM	+15.83%
ASM Technologies Ltd. S	9,154	6,275.30	—	22.70%	+133.51% TTM	+117.67% TTM	+63.73%
BIRLASOFT LIMITED	8,925	319.00	14.47	18.60%	+3.75% TTM	+33.56% TTM	-14.02%
INTELLECT DESIGN ARENA LIMITED	7,446	530.10	21.08	13.60%	+16.99% TTM	-12.31% TTM	-55.75%
Sonata Software Ltd.	6,367	227.05	13.75	27.60%	+3.97% TTM	+8.12% TTM	-39.25%
Newgen Software Technologies Limited	6,295	441.75	19.75	20.80%	+6.49% TTM	-3.04% TTM	-54.57%
Happiest Minds Technologies Limited	4,754	312.20	20.56	17.20%	+12.13% TTM	+18.44% TTM	-38.39%
Mastek Limited	4,476	1,443.50	10.51	16.60%	+5.99% TTM	+16.64% TTM	-32.51%
63 Moons Technologies Limited	4,263	925.15	-45.07	-1.00%	+490.54% TTM	-119.65% TTM	+16.75%
Latent View Analytics Limited	4,030	194.60	20.01	14.70%	+20.34% TTM	+5.91% TTM	-58.20%

Filings & corporate actions

Recent announcements

Communication to Shareholders - Financial Results for the quarter and half year ended September 30, 20264 Nov 2026 · Company Update / General
Publication of Financial Results for the quarter and half year ended September 30, 2026, pursuant to Regulation 47 of SEBI (LODR) Regulations, 20154 Nov 2026 · Company Update / Newspaper Publication
Audio recording of earnings call for the quarter and half year ended September 30, 20263 Nov 2026 · Company Update / General
Intimation of Record Date for Interim Dividend2 Nov 2026 · Corp. Action / Record Date
Earnings Presentation on the Financial Results of Q2 FY272 Nov 2026 · Company Update / Investor Presentation
Press Release on the Financial results of Q2 for FY272 Nov 2026 · Company Update / Press Release / Media Release
Outcome of Board Meeting dated November 2, 20262 Nov 2026 · Board Meeting / Outcome of Board Meeting
Financial Results For The Quarter and Half Year Ended September 30, 20262 Nov 2026 · Result / Financial Results
Intimation of Schedule of Earnings Call under Regulation 30(6) of the SEBI (LODR) Regulations, 201527 Oct 2026 · Company Update / Analyst / Investor Meet
Happiest Minds Technologies Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 02/11/2026 ,inter alia, to consider and approve the unaudited financial ....23 Oct 2026 · Board Meeting / Board Meeting
Compliance Certificate pursuant to Regulation 74(5) of SEBI (DP) Regulations, 20188 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Newspaper Publication in Form No. INC-26 regarding shifting of Registered office6 Oct 2026 · Company Update / Newspaper Publication
Voting Results along with Scrutinizer report for Postal Ballot through remote E- voting5 Oct 2026 · AGM/EGM / Postal Ballot
Filing under Regulation 57(1) of SEBI (LODR) Regulations, 2015- Corrigendum30 Sep 2026 · Others / Reg. 57 (1) - Certificate of interest payment/Principal in case of NCD
Certificate under Regulation 57 of SEBI (LODR) Regulations, 201525 Sep 2026 · Others / Reg. 57 (1) - Certificate of interest payment/Principal in case of NCD
The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for ITC Infotech India Ltd25 Sep 2026 · Insider Trading / SAST / Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011
Intimation of closure of Trading Window23 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Transcript of Investor/Analyst Call held on September 01, 20267 Sep 2026 · Company Update / General
Newspaper Publication of Postal Ballot Notice, pursuant to Regulation 30 of SEBI (LODR) Regulations, 20153 Sep 2026 · Company Update / Newspaper Publication
Please find enclosed herewith Notice of Postal Ballot dated September 02, 2026, seeking approval of members for the Resolution stated therein2 Sep 2026 · AGM/EGM / Postal Ballot
Audio recording of Analyst Call1 Sep 2026 · Company Update / General
The Board of Directors at their meeting held on August 31, 2026, approved the shifting of Registered Office of the Company from State of Karnataka to the State of West Bengal subject to ....31 Aug 2026 · Company Update / Change in Registered Office Address
The selling Promoters have executed a Share Purchase Agreement with ITC Infotech India Limited31 Aug 2026 · Company Update / Memorandum of Understanding /Agreements
The Board of Directors at its meeting held on August 31, 2026, has approved the scheme of amalgamation of Happiest Minds Technologies Limited with ITC Infotech India Limited and their shareholders ....31 Aug 2026 · Company Update / Scheme of Arrangement
Intimation of schedule of Analyst/Institutional investor meeting under the SEBI (LODR) Regulations, 201531 Aug 2026 · Company Update / Analyst / Investor Meet
Happiest Minds Technologies announces merger with ITC Infotech to create a scaled, AI First global technology services enterprise with US$ 1 billion revenue by FY2831 Aug 2026 · Company Update / Press Release / Media Release (Revised)
Happiest Minds Technologies Limited announces merger with ITC Infotech to create a scaled, AI First global technology services enterprise with US $1 billion revenue by FY2831 Aug 2026 · Company Update / Press Release / Media Release
Investor Presentation31 Aug 2026 · Company Update / Investor Presentation
Please find disclosure under Regulation 30A of SEBI LODR Regulations, 201531 Aug 2026 · Others
Outcome of Board Meeting dated August 31, 202631 Aug 2026 · Others / Outcome without intimation
Clarification/ Confirmation on news item appearing in Money Control Website28 Aug 2026 · Company Update / General
The Exchange has sought clarification from Happiest Minds Technologies Ltd on August 28, 2026, with reference to news appeared in https://www.moneycontrol.com/ dated August 27, 2026 quoting ....28 Aug 2026 · Company Update / Clarification
Receipt of Certified True Copy of the Final Order by the Hon''ble National Company Law Tribunal, Bengaluru Bench in the matter of the Scheme of Amalgamation of Aureustech Systems Private ....18 Aug 2026 · Company Update / General
Transcript of the 15th Annual General Meeting held on July 28, 20264 Aug 2026 · AGM/EGM / AGM
Voting Results and Scrutinizer''s Report for the 15th AGM30 Jul 2026 · AGM/EGM / AGM
Transcript of Earnings Call held on July 28, 202630 Jul 2026 · Company Update / Earnings Call Transcript
Communication to Shareholders- Financial Results for the quarter ended June 30, 202629 Jul 2026 · Company Update / General
Publication of Financial results for the quarter ended June 30, 202629 Jul 2026 · Company Update / Newspaper Publication
Outcome of the Annual General Meeting (AGM)28 Jul 2026 · AGM/EGM / AGM
Audio Recording of Earnings Call for the quarter ended June 30, 202628 Jul 2026 · Company Update / General

Corporate actions

Purpose	Ex date	Record date	Payment date
Interim Dividend - Rs. - 3.0500	6 Nov 2026	6 Nov 2026	—
Final Dividend - Rs. - 3.6500	17 Jul 2026	17 Jul 2026	—
Interim Dividend - Rs. - 2.7500	4 Nov 2025	4 Nov 2025	—
Final Dividend - Rs. - 3.5000	18 Jul 2025	18 Jul 2025	—
Interim Dividend - Rs. - 2.5000	27 Nov 2024	27 Nov 2024	—

Board meetings

2 Nov 2026 Board Meeting - Financial Results
27 Jul 2026 Board Meeting - Financial Results