Happiest Minds Technologies Limited (NSE:HAPPSTMNDS)

NSE:HAPPSTMNDS Financials Overview

Financials in millions INR. Fiscal year is April - March.

Revenue & Profits

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Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jun 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Revenue Revenue Growth	23,937	23,151	20,608	16,247	14,293	10,937
Revenue Growth	11.50%	12.34%	26.85%	13.67%	30.69%	41.41%
Gross Profit Gross Profit Growth	7,871	7,440	6,876	6,011	6,165	4,699
Operating Income Operating Income Growth	3,385	3,152	2,657	2,776	3,170	2,248
Net Income Net Income Growth	2,231	2,126	1,847	2,484	2,310	1,812
Earnings Per Share EPS Growth	14.80	14.11	12.26	16.73	16.01	12.55
EPS Growth	16.91%	15.09%	-26.72%	4.50%	27.57%	9.61%

Revenue by Segment

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Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jun 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Infrastructure Management & Security Services (IMSS) Infrastructure Management & Security Services (IMSS) Growth	3,968	3,891	3,283	2,975	3,069	2,417
Product and Digital Engineering Service (pdes) Product and Digital Engineering Service (pdes) Growth	18,975	18,474	16,969	13,272	-	-
Generative Ai Business Services (gbs) Generative Ai Business Services (gbs) Growth	993.5	786.6	356.2	-	-	-
Total Total Growth	23,937	23,151	20,608	16,247	14,293	10,937

Cash & Debt

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Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jun 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Cash & Investments Cash & Investments Growth	19,672	8,942	6,683	12,305	5,354	6,222
Total Debt Total Debt Growth	17,525	15,038	12,497	5,162	5,408	2,498
Net Cash (Debt) Net Cash Growth	2,147	-6,096	-5,814	7,143	-54.2	3,725
Net Cash Growth	-	-	-	-	-	18.63%
Net Cash Per Share Net Cash Per Share Growth	14.24	-40.45	-38.61	48.11	-0.38	25.79

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jun 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Operating Cash Flow Operating Cash Flow Growth	-	2,614	2,364	2,126	2,072	1,681
Capital Expenditures CapEx Growth	-	-29.1	-76.6	-82.3	-1,311	-6.7
Free Cash Flow Free Cash Flow Growth	-	2,585	2,288	2,043	761.1	1,675
Free Cash Flow Growth	-	13.00%	11.96%	168.47%	-54.55%	17.60%

Margins

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Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jun 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Gross Margin	32.88%	32.14%	33.37%	37.00%	43.13%	42.96%
Operating Margin	14.14%	13.61%	12.89%	17.09%	22.18%	20.55%
Pretax Margin	12.43%	12.28%	12.40%	20.60%	21.68%	22.48%
Profit Margin	9.32%	9.18%	8.96%	15.29%	16.16%	16.57%
FCF Margin	-	11.17%	11.10%	12.58%	5.33%	15.31%

Dividends

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Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Aug 15, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Dividend Per Share Dividend Per Share Growth	6.400	6.400	6.000	5.750	5.400	3.750
Dividend Per Share Growth	6.67%	6.67%	4.35%	6.48%	44.00%	25.00%
Dividend Yield	1.52%	1.79%	1.03%	0.79%	0.73%	0.37%

Valuation

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Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Aug 15, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
PE Ratio	28.39	25.48	48.26	44.53	47.55	82.98
Forward PE	21.88	18.85	31.60	37.68	41.65	73.51
P/FCF Ratio	24.43	20.96	38.96	54.14	144.32	89.80
PS Ratio	2.64	2.34	4.32	6.81	7.69	13.75

Data Source: S&P Global Market Intelligence Last updated: Jun 30, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 13, 2026

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