Stock Report

Happiest Minds Technologies Ltd - Key Financial, Business Highlights for Q3FY22

Posted On : 2022-01-29 10:37:37( TIMEZONE : IST )

Happiest Minds Technologies Limited (NSE:HAPPSTMNDS), a 'Born Digital. Born Agile', digital transformation and IT solutions company, has announced its consolidated results for the third quarter ended December 31, 2021 as approved by its Board of Directors.

Key Financial highlights for Quarter ended December 31, 2021

Operating Revenues in US$ terms stood at $37.8 million (growth of 5.5% q-o-q; 44.2% y-o-y)
Total Income of ₹ 29,228 lakhs (growth of 6.6% q-o-q; 45.2% y-o-y)
EBITDA of ₹ 7,631 lakhs, 26.1% of Total Income (growth of 8.8% q-o-q; 27.8% y-o-y)
PAT of ₹ 4,892 lakhs (growth of 10.1% q-o-q; 16.1% y-o-y)
Free cash flows of ₹ 7,585 lakhs
EPS (diluted) for the quarter of ₹ 3.38 (growth of 10.5% q-o-q; 17.0% y-o-y)

Key Financial Highlights for Nine Months ended December 31, 2021

Operating Revenues in US$ terms stood at $106.7 million (growth of 43.6% y-o-y)
Total Income of ₹ 82,027 lakhs (growth 42.8% y-o-y)
EBITDA of ₹ 21,258 lakhs, 25.9% of Total Income (growth of 35.5% y-o-y)
PAT of ₹ 12,909 lakhs (growth of 2.1% y-o-y)
Free cash flows of ₹ 20,897 lakhs
EPS (diluted) for half year ₹ 8.92 (decline of 0.3% y-o-y)
RoCE & RoE (nine months annualized) of 32.9% and 28.2% respectively

Business Highlights:

Clients:

195 as of December 31, 2021
11 additions in the quarter

People - Happiest Minds:

4,021 Happiest Minds as of December 31, 2021 (net addition for the quarter 225, nine-months 793)
Trailing 12 months attrition of 21.1%
Utilization of 81.0%, from 79.7% in last quarter

Key Project Wins:

For a global telecoms provider with operations in 200+ countries, Happiest Minds has won a multiyear, multi-million-dollar managed service contract to partner on their transformational and operational excellence journey
For a global EduTech SaaS company, Happiest Minds has won a multi-year, multi-million-dollar deal to provide End to End Infrastructure and Security Services by leveraging Microsoft Azure
For one of the world's largest Transportation Mobility-as-a-Service Company, Happiest minds has been chosen to help them on their Governance, Risk and Compliance (GRC) security services
For a global enterprise SaaS company offering cloud-based directory as a service platform, Happiest Minds was chosen as their engineering partner
For a portfolio company of a large private equity firm, Happiest Minds is managing data quality and governance for its master data management (MDM) application hosted on Pimcore platform
For a global bank in business over 100 years, Happiest Minds is partnering them in their automation journey
For a global energy management technology company that manufactures software-driven solar energy solutions, Happiest Minds was chosen to develop the next generation, software-controlled Power Controller
For the US subsidiary of a multinational electronics corporation, Happiest Minds was chosen as their analytics and DevOps partner

Shares of Happiest Minds Technologies Limited was last trading in BSE at Rs. 1146.15 as compared to the previous close of Rs. 1136.30. The total number of shares traded during the day was 41933 in over 6489 trades.

The stock hit an intraday high of Rs. 1190.00 and intraday low of 1100.00. The net turnover during the day was Rs. 48732658.00.