HAPPSTMNDS
1 call
Concalls & earnings callsHappiest Minds Technologies Limited
Every summarised call, newest first. Latest is Q1 FY27, held 1 Sept 2026.
Latest quarter
Q1 FY27 snapshot
Open full brief →Happiest Minds will amalgamate into ITC Infotech with shareholders receiving 25 shares of ITC Infotech for every 81 shares of Happiest Minds they hold, creating a pro-forma approximately INR7,033 crores revenue business targeting USD1 billion revenue by FY28.
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Pro-forma FY26 combined revenue | approximately ₹7,033 Cr | — | |
| Combined entity implied valuation | about ₹18,087 Cr | — | |
| Happiest Minds implied valuation at 15.1x FY26 EBITDA | about ₹6,167 Cr | — | |
| ITC Infotech implied valuation at about 13.6x FY26 EBITDA | about ₹11,920 Cr | — |
Latest guidance
- Reach USD1 billion revenue by FY28 on a combined basis.
- Combined operating margins expected to be around 18.3% plus.
- Complete merger over the next 15 months with listing expected in Q2/Q3 of FY28.
- Continue to operate as separate entities until all regulatory approvals are received.
Said on the Q1 FY27 call.
Filed results
Reported quarterly history
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹530.81 Cr+29.5% YoY+1.8% QoQ | ₹50.10 Cr-16% YoY+1.2% QoQ | ₹3.33-16.3% YoY+1.2% QoQ |
| Q2 FY25 | ₹521.64 Cr+28.3% YoY+12.5% QoQ | ₹49.52 Cr-15.3% YoY-3% QoQ | ₹3.29-16.1% YoY-2.9% QoQ |
| Q1 FY25 | ₹463.82 Cr+18.7% YoY+11.2% QoQ | ₹51.03 Cr-12.5% YoY-29.1% QoQ | ₹3.39-16.1% YoY-29.2% QoQ |
| Q4 FY24 | ₹417.29 Cr+10.4% YoY+1.8% QoQ | ₹71.98 Cr+24.8% YoY+20.7% QoQ | ₹4.79+19.5% YoY+20.4% QoQ |
| Q3 FY24 | ₹409.88 Cr+11.7% YoY+0.8% QoQ | ₹59.62 Cr+3.5% YoY+2% QoQ | ₹3.98-1% YoY+1.5% QoQ |
Call history
- Q1 FY27Positive tone
Happiest Minds will amalgamate into ITC Infotech with shareholders receiving 25 shares of ITC Infotech for every 81 shares of Happiest Minds they hold, creating a pro-forma approximately INR7,033 crores revenue business targeting USD1 billion revenue by FY28.
- Pro-forma FY26 combined revenue
- approximately ₹7,033 Cr
- Combined entity implied valuation
- about ₹18,087 Cr