Happiest Minds Technologies Limited — Results, 22-05-2025: Reply to Clarification- Financial results

Happiest Minds Technologies has announced a board meeting on July 16, 2025.

Consolidated revenue rose to Rs. 57,052 lakhs for the quarter, up 3% q-o-q and 29% y-o-y, with constant currency growth of 1.1% q-o-q. Full-year consolidated revenue reached Rs. 2,16,222 lakhs, growing 26.4% y-o-y. Product & Digital Engineering Services contributed 77.7%, Infrastructure Management & Security Services 15.6%, and the new Generative AI Business Services 2.1%.

EBITDA for the quarter was Rs. 10,985 lakhs (19.3% margin), down 6% q-o-q due to a one-time bad debt of Rs. 1,204 lakhs, but up 1.5% y-o-y. Full-year EBITDA stood at Rs. 46,224 lakhs with a 21.4% margin. Adjusted PAT fell 4.5% q-o-q and 13% y-o-y to Rs. 5,668 lakhs (9.9% margin) for the quarter, while annual adjusted PAT was Rs. 24,638 lakhs (11.4%).

The workforce increased to 6,632 employees with attrition at 16.6% and utilization at 77.4%. Strategic moves include verticalization focused on Healthcare and BFSI, launching the Generative AI unit, and forming NN hunting teams, boosting pipeline and client wins.

The Board has proposed a final dividend of Rs. 3.50 per share, subject to shareholder approval.

Financial health is solid with net worth at Rs. 1,57,458 lakhs, borrowings of Rs. 1,16,091 lakhs, a current ratio of 1.66, debt-equity ratio at 0.79, and cash reserves of Rs. 11,912 lakhs. The company emphasizes next-gen digital transformation leveraging AI, cloud, security, and product engineering for sustained growth.