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Yahoo
13-05-2025
- Business
- Yahoo
Happiest Minds accelerates to 31% growth in Q4, reports revenues of ₹545 Crores driven by strong deal closures
Robust annual EBITDA of ₹462 Cr at 21.4% margin, reflecting consistent operating profitability BENGALURU, India and SEATTLE and LONDON, May 13, 2025 /PRNewswire/ -- Happiest Minds Technologies Limited (NSE: HAPPSTMNDS), a 'Born Digital. Born Agile', a digital transformation and IT solutions company, today announced its consolidated results for the Fourth quarter ended March 31, 2025, as approved by its Board of Directors. Ashok Soota, Chairman & Chief Mentor, said, "Happiest Minds continues to show above-industry-leading growth this fiscal year. The ten strategic transformational changes that we rolled out are shaping Happiest Minds' future. Our strategic initiatives, along with the continued commitment of our teams, have us well-positioned for strong double-digit organic growth in FY26 and beyond. Economists are projecting a slowdown in some of our largest markets; I want to emphasize that we have healthy pipelines of demand and do not see any recession-driven slowdown." Joseph Anantharaju, Co-Chairman & CEO, said, "The transformative initiatives we have launched over the last year are beginning to yield results and are laying a robust foundation for future growth. Our move to a vertical structure has resulted in accelerated growth in several verticals like Healthcare and BFSI. We continue to see an increase in the share of the Healthcare vertical, which saw large new deals totalling $20 Mn from 4 customers and these are likely to be repeated next year. The two transformations that we initiated around GenAI BU and the independent NN hunting team have seen a good buildup in the pipeline that should result in revenue growth. Our other initiatives around High Potential accounts, GCC and Private Equity pursuit are beginning to take hold and should start yielding results in the ensuing quarters." Venkatraman Narayanan, MD & CFO, said, "I am extremely happy to report on an annual growth of 26% in constant currency with an EBITDA of 21.4%, the latter, well in line with our guidance. Adjusted for a one-time bad debt and continued investments in Gen AI and Sales teams, Operating margin and EBIDTA continue to be industry leading and comparable to the previous year. PAT and EPS adjusted for acquisition related costs and exceptional item, a reliable measure of performance, continues to remain steady." Key Financial highlights Quarter ended March 31, 2025 Revenue in constant currency grew 1.1% q-o-q and 27.9% y-o-y Operating Revenues in US$ stood at $63 million, growing 0.3% q-o-q and 25.6% y-o-y Total Income of ₹ 57,052 Lakhs grew 3.0 % q-o-q and 28.9% y-o-y EBITDA of ₹ 10,984 Lakhs, stood at 19.3% of Total Income. Decline of 6.0% q-o-q on account of an unfortunate bad debt of ₹ 1,204 Lakhs while growing 1.5% y-o-y PAT of ₹ 3,401 Lakhs 6.0% of Total Income. Adjusted PAT and EPS (adjusted only for non-cash charges and exceptional items), a more reliable profitability measures stand at: Adjusted PAT of ₹ 5,668 Lakhs at 9.9% of Total Income (decline of 4.5% and 13.0% y-o-y⁴) Adjusted EPS at ₹ 3.76 Year ended March 31, 2025 Revenue in constant currency grew 25.6% Operating Revenues at US$ $243.6 million grew 24.2% Total Income of ₹ 216,222 Lakhs grew 26.4% EBITDA of ₹ 46,224 Lakhs, at 21.4% of Total income, Absolute growing of ₹ 4,102 Lakhs PAT of ₹18,466 Lakhs at 8.5% of Total Income. Adjusted PAT and EPS (adjusted for non-cash charges and exceptional items), a more reliable profitability measure stands at: Adjusted PAT of ₹ 24,638 Lakhs 11.4% of Total Income Adjusted EPS at ₹ 16.37 All amounts in ₹ Lakhs unless stated otherwise. Particulars Q4 FY25 Q3 FY25 QoQ Q4 FY24 YoY FY25 FY24 YoY Revenues ($'000) 62,919 62,719 0.3 % 50,077 25.6 % 2,43,570 1,96,130 24.2 % Growth in CC 1.1 %27.9 % 25.6 % Revenues 54,457 53,081 2.6 % 41,729 30.5 % 2,06,084 1,62,466 26.8 % Other Income 2,595 2,2962,52110,138 8,537Total Income 57,052 55,376 3.0 % 44,250 28.9 % 2,16,222 1,71,003 26.4 % Operating Margin1 7,937 9,264 (14.3) % 8,390 (5.4) % 35,749 34,044 5.0 % % 14.6 % 17.5 %20.1 %17.3 % 21.0 %EBITDA 10,985 11,686 (6.0) % 10,822 1.5 % 46,224 42,122 9.7 % % 19.3 % 21.1 %24.5 %21.4 % 24.6 %Finance Cost 2,379 2,4429759,112 3,985Depreciation 1,201 1,1728574,552 3,844Profit before Non Cash/Exceptional 7,401 8,073 (8.3) % 8,990 (17.7) % 32,553 34,292 (5.1) % % 13.0 % 14.6 %20.3 %15.1 % 20.1 %Amortization/Unwinding Interest2 1,145 1,1786685,151 2,224Exceptional Item 1,216 -1,2951,858 1,402PBT 5,039 6,894 (26.9) % 9,615 (47.6) % 25,547 33,468 (23.7) % % 8.8 % 12.5 %21.7 %11.8 % 19.6 %Tax 1,638 1,8842,4177,080 8,629% 2.9 % 3.4 %5.5 %3.3 % 5.0 %PAT 3,401 5,010 (32.1) % 7,198 (52.8) % 18,466 24,839 (25.7) % % 6.0 % 9.0 %16.3 %8.5 % 14.5 %Adjusted PAT3 5,668 5,937 (4.5) % 6,515 (13.0) % 24,638 25,425 (3.1) % % 9.9 % 10.7 %14.7 %11.4 % 14.9 %Adjusted Earnings per Share (₹)4 3.76 3.944.3316.37 16.89 Note 1 – Operating Margin is EBITDA excluding other income Note 2 - Amortization and unwinding interest are non-cash items from the acquisition Note 3 – Adjusted PAT is Adjusted for exceptional items and amortization of intangibles Note 4 – Adjusted EPS is Adjusted for exceptional items and amortizations of intangibles Clients: 281 as of March 31, 2025 14 additions in the quarter Our People - Happiest Minds: 6,632 Happiest Minds as of March 31, 2025 Trailing 12-month attrition of 16.6% (15.3% in the previous quarter) Utilization of 77.4%, from 78% in last quarter Key wins: For a US based not-for-profit organization in media and publication, Happiest Minds has been chosen as a strategic partner to build their customer master data management using Pimcore® platform. For an American Insurance broker, Happiest Mind is leveraging MS Power Platform to build their Client Data Portal For a global market research agency, Happiest Minds is leveraging Generative AI to develop their End User Chat platform For a US manufacturer of intelligent fluid-flow equipment, Happiest Minds was chosen to build their next-generation connected products For a Middle Eastern E-Commerce company, Happiest Minds is providing cybersecurity assessment & implementation services For a Middle Eastern bank, Happiest Minds is providing Risk and Governance Consulting Services Award Wins: Happiest Minds is awarded Best DevOps Framework for Scalability and Security (IT Services) in the 6th Edition India DevOps Show 2025. Happiest Minds is ranked 2nd in "IT Services" category at the ESC Export Excellence Awards 2025 Happiest Minds is recognized among 'Inspiring Firms in AI & Analytics' at the 3AI ACME Awards Happiest Minds has won WOW Workplace Award for IT, ITeS & GCC Analyst Mentions: Happiest Minds is 'Product Challenger' in ISG Provider Lens Study for Digital Engineering Services – Europe, US Happiest Minds is 'Major Contender' in Everest Industry 4.0 PEAK Matrix 2025 Happiest Minds is 'Major Contender' in Everest Data and AI (D&AI) Services for Mid-market Enterprises PEAK Matrix 2025 Happiest Minds is 'Innovator and Major Player' in NelsonHall's Transforming Core Banking Services NEAT Report Happiest Minds is among 'Seasoned Vendors' in AIM Research's PeMa Quadrant for MLOps Service Providers 2025 Announcements: The Board of Directors of the Company at their meeting held on May 12, 2025 has recommended a final dividend of ₹ 3.5 per equity share of face value ₹ 2/- for the financial year 2024-25 subject to shareholder approval. For further details please refer to the Investors presentation hosted on the company website -- Investors section About Happiest Minds Technologies: Happiest Minds Technologies Limited (NSE: HAPPSTMNDS), a Mindful IT Company, enables digital transformation for enterprises and technology providers by delivering seamless customer experiences, business efficiency and actionable insights. We do this by leveraging a spectrum of disruptive technologies such as: artificial intelligence, blockchain, cloud, digital process automation, internet of things, robotics/drones, security, virtual/ augmented reality, etc. Positioned as 'Born Digital. Born Agile', our capabilities span Product & Digital Engineering Services (PDES), Generative AI Business Services (GBS) and Infrastructure Management & Security Services (IMSS). We deliver these services across industry groups: Banking, Financial Services & Insurance (BFSI), EdTech, Healthcare & Life Sciences, Hi-Tech and Media & Entertainment, Industrial, Manufacturing, Energy & Utilities, and Retail, CPG & Logistics. The company has been recognized for its excellence in Corporate Governance practices by Golden Peacock and ICSI. A Great Place to Work Certified™ company, Happiest Minds is headquartered in Bengaluru, India with operations in the U.S., UK, Canada, Australia, and the Middle East. Safe harbor This press release contains forward-looking statements, which may involve risks and uncertainties. Actual results may differ materially from those expressed or implied due to various factors including but not limited to changes in market conditions, technological advancements, regulatory developments, and the overall economic environment. Happiest Minds undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. For more information, contact: Dr. Kiran VeigasVice President and Head - Corporate Marketing, Branding & CommunicationsMedia Contact: media@ Relations: IR@ Logo: View original content: SOURCE Happiest Minds Technologies Limited Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Business Standard
13-05-2025
- Business
- Business Standard
Happiest Minds Technologies Q4 results: Net profit drops 53% to Rs 34 crore
Mid-cap Indian IT firm Happiest Minds Technologies has reported a 52.7 per cent decline in consolidated net profit to Rs 34 crore in the March-ended quarter. It had posted a profit of Rs 71.9 crore in the year-ago period, according to a regulatory filing. Revenue for the quarter under review rose 30.5 per cent to Rs 544.5 crore, compared with Rs 417.2 crore in Q4 FY24. Sequentially, profit dropped 32 per cent, while revenue rose 2.5 per cent. The firm added 14 new clients in Q4, bringing the tally to 281. For full FY25, the Bengaluru-headquartered firm logged a profit of Rs 184.6 crore, a 25.6 per cent dip from Rs 248.3 per cent in FY24. Revenue in FY25 was recorded 26.8 per cent higher at 2,060.8 crore. The company, in March, announced a slew of apex-level changes in its organisation structure with immediate effect. As part of the rejig, Executive Vice Chairman Joseph Anantharaju was elevated to Co-Chairman and CEO, while Chairman Ashok Soota took up an additional position as the Chief Mentor of the company. "Our strategic initiatives, along with the continued commitment of our teams, have us well positioned for strong double-digit organic growth in FY26 and beyond. Economists are projecting a slowdown in some of our largest markets, I want to emphasise that we have healthy pipelines of demand and do not see any recession-driven slowdown," Soota said. The Chairman in March had exuded confidence about the firm delivering a healthy double-digit organic growth, not just in FY26 but also in FY27. "The year FY25 is witnessing flat growth for some majors and negative growth for a few others. We have delivered a healthy double-digit growth, albeit most of it is inorganic. The market is predicting a US slowdown or recession. This has clouded the prospects for the Indian IT industry. "We want to state emphatically that at Happiest Minds, we see no recession-driven see a good view ahead for the next two years," he had asserted. The company's Board has recommended a final dividend of Rs 3.5 per equity share of face value Rs 2 for FY25. Happiest Minds Technologies offers digital transformation, product engineering, and infrastructure management services. It has 6,632 employees across 13 countries.
Yahoo
05-03-2025
- Business
- Yahoo
Happiest Minds positioned as 'Innovators and Major Players' in NelsonHall's Transforming Core Banking Services NEAT Report
BENGALURU, India and LONDON and SAN JOSE, Calif., March 5, 2025 /PRNewswire/ -- Happiest Minds Technologies Limited (NSE: HAPPSTMNDS), a 'Born Digital. Born Agile', Mindful IT Company, today announced being positioned as 'Innovators and Major Players' in the NelsonHall Vendor Evaluation and Assessment Tool (NEAT) Report in Transforming Core Banking Services. NelsonHall, the leading global analyst firm, helps organizations understand the 'art of the possible' in digital operations transformation. They provide organizations with critical, detailed information on vendors and markets that help them make well-informed decisions. NelsonHall's research offers a comprehensive evaluation of Happiest Minds' Transforming Core Banking Services. According to NelsonHall, Happiest Minds' core banking services revenue is projected to expand by 15% annually over the next three years. Joseph Anantharaju, Executive Vice Chairman, Happiest Minds, said, "Over the past year, Happiest Minds has focused on enhancing the Arttha platform and making it a core offering for our banking and other customers with lending and payment needs. The NEAT recognition motivates us to strengthen our capabilities further and create lasting value for our customers." Manish Sharma, CEO, PureSoftware Business, said, "We continue to use our Arttha platform-led core transformation approach to scale our business. Our core banking services engagements include modernizing legacy platforms to drive digital banking operations, including deposits, payments, and lending for one of Africa's largest banking groups." Udeet Bhagat, Head, Arttha Business, added, "Being recognized as 'Innovators and Major Players' in the NEAT Report in Transforming Core Banking Services underscores our outstanding contribution in this space. Our expertise covers roadmap development, infrastructure design, and implementation of the Arttha platform for savings, open banking, lending, and payments. With Arttha, we enable our enterprise customers to embrace digital open banking, adopt cloud-native architecture, streamline operations on a single platform, drive business growth, and reduce costs across multiple regional banks." Andy Efstathiou, Program Director for Banking, NelsonHall, said, "Happiest Minds was recognized as 'Innovators and Major Players' for transforming core banking services. Arttha, their digital banking platform, focuses on providing hyper-personalized experiences with seamless integration, omnichannel accessibility, cloud-ready architecture, and open API banking. Happiest Minds' services for core banking enable clients to transform and modernize their core banking processes." Happiest Minds partners with financial institutions across key fast-growing markets, including India, Indonesia, and Africa. With Arttha, its core banking platform, Happiest Minds supports its BFS clients with SaaS, cloud, and on-prem services. Over the next several years, the company plans to expand its core banking services business by, Targeting small and mid-sized banks Enhancing functionality for large banks aiming to strengthen their digital banking offerings Supporting specialized lending areas, including Islamic finance and commercial lending Expanding into the US market to help local banks enhance their digital banking capabilities Driven by its mission, 'Happiest People. Happiest Customers', Happiest Minds serves 85 Billion-Dollar corporations as its customers, achieving a 95% repeat business rate. Read the complete NEAT Report. About Happiest Minds Technologies Happiest Minds Technologies Limited (NSE: HAPPSTMNDS), a Mindful IT Company, enables digital transformation for enterprises and technology providers by delivering seamless customer experiences, business efficiency and actionable insights. We do this by leveraging a spectrum of disruptive technologies such as: artificial intelligence, blockchain, cloud, digital process automation, internet of things, robotics/drones, security, virtual/ augmented reality, etc. Positioned as 'Born Digital. Born Agile', our capabilities span Product & Digital Engineering Services (PDES), Generative AI Business Services (GBS) and Infrastructure Management & Security Services (IMSS). We deliver these services across industry groups: Banking, Financial Services & Insurance (BFSI), EdTech, Healthcare & Life Sciences, Hi-Tech and Media & Entertainment, Industrial, Manufacturing, Energy & Utilities, and Retail, CPG & Logistics. The company has been recognized for its excellence in Corporate Governance practices by Golden Peacock and ICSI. A Great Place to Work Certified™ company, Happiest Minds is headquartered in Bengaluru, India with operations in the U.S., UK, Canada, Australia, and the Middle East. Contact details:Dr. Kiran Veigas, Vice President and Head - Corporate Marketing, Branding & Communications,Media Contact: media@ Logo: View original content: SOURCE Happiest Minds Technologies Limited Sign in to access your portfolio
