Happiest Minds Technologies

Happiest Minds Technologies Limited is a leading IT services and consulting firm. The company specialises in innovative and emerging technologies.

The company was founded in 2011 by Ashoka Soota and a group of industry experts. The company started its operations by offering its clients IT solutions backed by emerging technologies.

Happiest Minds Technologies Limited’s offerings include IT services, software product engineering, infrastructure management, security architecture, testing and consulting.

Happiest Minds primarily works in three segments: digital business services, product engineering services and infrastructure and management security services.

The company offers its services to clients across different countries, including the United States and the United Kingdom. In 2013, the company expanded its operations to Australia.

In 2019, the company ventured into the fields of automation, blockchain, cloud solution and artificial intelligence (AI).

Happiest Minds provides services across industries, including Manufacturing, banking, financial services, Insurance, consumer goods, travel, transportation and Media. It also works in the areas of demand-driven supply chain and multi-channel commerce.

The market capitalisation of Happiest Minds Technologies Ltd stood at nearly ₹13,400 crore as of January 15, 2024. Happiest Minds share price has increased more than 150% in the last three years.

Business Operations

Happiest Minds provides its service through its 4 centres of excellence and 7 solutions accelerators. More than 4900 employees currently work for the company. The company’s operations are spread across the US, Canada, the UK, Middle East and Australia.

The company has diversified into the fields of Product and Digital Engineering Services (PDES), Generative AI Business Services (GBS), and Infrastructure Management and Security Services (IMSS). Happiest Minds' services are ISO and CREST-certified.

The company has also tied up with Microsoft, AWS, SAP Hybris, Magento, and Google Cloud to develop unique products and solutions to enable its clients to drive growth. The company, through its collaborations, helps businesses to leverage technology to improve market access, stay ahead in digital space and to deploy innovative solutions to unique business problems.

Financial Information

The company’s revenue in FY23 stood at ₹1,450.40 crore, up 28.26% year-on-year compared to ₹1,130.75 crore in FY22. Profit after tax (PAT) surged 27.5% year-on-year to ₹231 crore in FY23, as against ₹181.20 crore in FY22. EBITDA (earnings before interest, taxes, depreciation, and amortisation) of the company increased from ₹294.77 crore in FY22 to ₹380 crore in FY23, witnessing a growth of 28.9%. The company’s EBITDA margin improved to 26.2% in FY23 compared to 26.1% in FY22. Its earnings per share (EPS) stood at ₹16.13 in FY23 as against ₹12.84 in FY22.