Happiest Minds Technologies Future Growth
Future criteria checks 3/6
Happiest Minds Technologies is forecast to grow earnings and revenue by 18.4% and 12.1% per annum respectively. EPS is expected to grow by 18.1% per annum. Return on equity is forecast to be 16.6% in 3 years.
Key information
18.4%
Earnings growth rate
18.14%
EPS growth rate
| IT earnings growth | 9.0% |
| Revenue growth rate | 12.1% |
| Future return on equity | 16.59% |
| Analyst coverage | Good |
| Last updated | 07 Sep 2026 |
Recent future growth updates
Analysis Article • Jul 30
Happiest Minds Technologies Limited (NSE:HAPPSTMNDS) Just Reported First-Quarter Earnings: Have Analysts Changed Their Mind On The Stock?
Investors in Happiest Minds Technologies Limited ( NSE:HAPPSTMNDS ) had a good week, as its shares rose 5.0% to close...Analysis Article • Jun 01
Earnings Update: Happiest Minds Technologies Limited (NSE:HAPPSTMNDS) Just Reported Its Full-Year Results And Analysts Are Updating Their Forecasts
As you might know, Happiest Minds Technologies Limited ( NSE:HAPPSTMNDS ) recently reported its full-year numbers. It...Analysis Article • Feb 12
Earnings Miss: Happiest Minds Technologies Limited Missed EPS By 30% And Analysts Are Revising Their Forecasts
Last week saw the newest quarterly earnings release from Happiest Minds Technologies Limited ( NSE:HAPPSTMNDS ), an...Analysis Article • Nov 01
Results: Happiest Minds Technologies Limited Exceeded Expectations And The Consensus Has Updated Its Estimates
The quarterly results for Happiest Minds Technologies Limited ( NSE:HAPPSTMNDS ) were released last week, making it a...Recent updates
Analysis Article • Jul 30
Happiest Minds Technologies Limited (NSE:HAPPSTMNDS) Just Reported First-Quarter Earnings: Have Analysts Changed Their Mind On The Stock?
Investors in Happiest Minds Technologies Limited ( NSE:HAPPSTMNDS ) had a good week, as its shares rose 5.0% to close...
Narrative Update • Jul 22
HAPPSTMNDS: AI Platform Rollout And Dividend Policy Will Shape Balanced Outlook
Analysts have trimmed their price target on Happiest Minds Technologies from ₹449.66 to ₹370.00, citing updated assumptions for revenue growth, profit margins, the discount rate, and a lower future P/E multiple. What’s in the News for Happiest Minds Technologies A board meeting is scheduled on July 27, 2026 to review and approve the unaudited standalone and consolidated financial statements for the quarter ended June 30, 2026, prepared under IndAS (Source: Company board meeting notice).
Narrative Update • Jul 08
HAPPSTMNDS: Agentic AI Platform Adoption Will Drive Future Upside Potential
The analyst price target for Happiest Minds Technologies has been revised from ₹532.88 to ₹461.50, with analysts pointing to updated assumptions on discount rate, revenue growth, profit margins, and future P/E as key drivers of the change. What's in the News for Happiest Minds Technologies Happiest Minds Technologies launched Rel(AI)Build, an enterprise-grade Agentic AI development platform built around an Agentic Development Lifecycle (ADLC) to integrate AI across the full software development lifecycle.
Narrative Update • Jun 24
HAPPSTMNDS: AI Platform And Partnership Will Shape Future Shareholder Returns
Analysts have trimmed their fair value estimate for Happiest Minds Technologies slightly from ₹599.00 to ₹584.00, reflecting updated assumptions around discount rates, revenue growth, profit margins, and a modestly lower future P/E multiple. What’s in the News for Happiest Minds Technologies Happiest Minds Technologies launched Rel(AI)Build, an enterprise-grade agentic AI development platform built on its Agentic Development Lifecycle (ADLC).Narrative Update • Jun 10
HAPPSTMNDS: Potential Control Sale Will Shape Future Shareholder Returns
Analysts have trimmed their fair value estimate for Happiest Minds Technologies from ₹620 to ₹599 as they factor in a higher discount rate and a reduced profit margin outlook, while still reflecting updated assumptions on revenue growth and future P/E levels. What's in the News A board meeting is scheduled for May 28, 2026 to consider and approve audited standalone and consolidated financial statements for the quarter and year ended March 31, 2026, evaluate a final dividend on equity shares, review the reappointment of Deloitte Haskins & Sells as statutory auditor, and address other business.Analysis Article • Jun 01
Earnings Update: Happiest Minds Technologies Limited (NSE:HAPPSTMNDS) Just Reported Its Full-Year Results And Analysts Are Updating Their Forecasts
As you might know, Happiest Minds Technologies Limited ( NSE:HAPPSTMNDS ) recently reported its full-year numbers. It...Narrative Update • May 27
HAPPSTMNDS: AI Partnerships And Potential Stake Sale Will Drive Future Upside
Analysts have kept the fair value estimate for Happiest Minds Technologies steady at ₹532.88. The latest price target is based on a slightly lower assumed discount rate of 15.09%, a modestly higher profit margin outlook of 14.43% and a more conservative future P/E of 25.46x.Narrative Update • May 08
HAPPSTMNDS: Potential Control Sale Will Drive Future Returns
Analysts have nudged their price target for Happiest Minds Technologies up from ₹614 to ₹620, reflecting updated assumptions on the discount rate, revenue growth, profit margin and future P/E multiples. What's in the News Happiest Minds Technologies announced a partnership with UnifyApps that will use UnifyApps' AI OS architecture and platform to help enterprise clients move GenAI projects from pilots to secure, scalable production deployments, with a focus on governance, interoperability and scalability for AI agents across business workflows (Key Developments).Narrative Update • Apr 20
HAPPSTMNDS: AI Partnerships For GenAI Deployment Will Drive Future Upside
Analysts have reduced their price target on Happiest Minds Technologies from about ₹580.71 to about ₹532.88, citing updated assumptions for discount rate, revenue growth, profit margin and future P/E that together indicate a slightly more conservative fair value estimate. What's in the News Partnership with UnifyApps in which Happiest Minds will use UnifyApps' AI OS architecture and horizontal platform to help enterprises move GenAI projects from pilots to secure, scalable production deployments, with a focus on governance, interoperability, and measurable ROI (Client announcement).Narrative Update • Apr 06
HAPPSTMNDS: Potential Control Sale Will Support Long Term Returns
Analysts have kept their fair value estimate for Happiest Minds Technologies steady at ₹614.0, reflecting updated views on discount rate, revenue growth, profit margin and future P/E assumptions without a change in the overall price target. What's in the News Happiest Minds announced a partnership with UnifyApps to use its AI OS architecture and horizontal platform, aiming to help enterprises move GenAI projects from pilots to secure, production grade deployments across workflows, with a focus on governance, interoperability, and scalability.Narrative Update • Mar 23
HAPPSTMNDS: Potential Control Sale And New Partnership Will Support Long Term Returns
Analysts have trimmed their price target on Happiest Minds Technologies from ₹710 to ₹614, as updated assumptions for discount rate, revenue growth, profit margin and future P/E now point to a more conservative fair value profile. What's in the News Private equity firms EQT AB and Partners Group, along with ITC Infotech, are reported to be exploring an acquisition of a controlling stake in Happiest Minds Technologies from founder and chairman Ashok Soota, who holds about a 44% stake directly and through investment companies.Narrative Update • Mar 09
HAPPSTMNDS: AI Co Worker And Treasury Alliance Will Support Future Upside
Analysts have kept their price target for Happiest Minds Technologies broadly steady at about ₹580.71 per share, citing only slight tweaks to assumptions such as discount rate, revenue growth, profit margin and future P/E to reflect updated views on the risk profile and earnings outlook. What's in the News Board meeting scheduled for 9 Feb 2026 to consider and approve the unaudited financial statements of the company (Key Developments).Narrative Update • Feb 22
HAPPSTMNDS: AI Co Worker And Treasury Partnership Will Support Future Upside
Analysts have trimmed their price target for Happiest Minds Technologies from ₹606.14 to ₹580.71, citing updated assumptions around the discount rate, revenue growth, profit margin and future P/E, which slightly adjust their valuation framework. What's in the News Board meeting scheduled for Feb 9, 2026, to consider and approve the unaudited financial statements of the company (Key Developments).Analysis Article • Feb 12
Earnings Miss: Happiest Minds Technologies Limited Missed EPS By 30% And Analysts Are Revising Their Forecasts
Last week saw the newest quarterly earnings release from Happiest Minds Technologies Limited ( NSE:HAPPSTMNDS ), an...Narrative Update • Feb 08
HAPPSTMNDS: Future AI Treasury And Digital Co Worker Wins Will Support Momentum
Analysts have nudged their fair value estimate for Happiest Minds Technologies from ₹618.29 to ₹606.14, reflecting updated views on discount rates, revenue growth, profit margins and expected future P/E levels. What's in the News Board meeting scheduled for February 9, 2026, to consider and approve the unaudited financial statements of the company (Board Meeting).Narrative Update • Jan 25
HAPPSTMNDS: AI Co Worker Rollout Will Support Stronger Long Term Returns
Analysts have kept their price target for Happiest Minds Technologies steady at ₹710.00, citing updated assumptions that now reflect slightly different discount rate, revenue growth, profit margin, and future P/E inputs in their models. What's in the News Happiest Minds Technologies launched ELAIRA, an intelligent digital co-worker integrated with its ELLIPSE 2.0 platform, aimed at speeding up support resolutions, improving user experience, and supporting cost optimization across enterprise RUN environments (Key Developments).Narrative Update • Jan 11
HAPPSTMNDS: Enterprise AI Co Worker Rollout Will Support Stronger Long Term Returns
Analysts have trimmed their price target for Happiest Minds Technologies from ₹725.00 to ₹710.00, citing updated assumptions for revenue growth, profit margins and future P/E levels in their valuation work. What's in the News Happiest Minds Technologies launched ELAIRA, an intelligent digital co worker integrated with its ELLIPSE 2.0 platform.Analysis Article • Dec 31
Happiest Minds Technologies' (NSE:HAPPSTMNDS) Returns On Capital Not Reflecting Well On The Business
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'd...Narrative Update • Dec 25
HAPPSTMNDS: Intelligent Automation Rollout Will Drive Stronger Long Term Returns
Analysts have trimmed their price target on Happiest Minds Technologies to ₹725 from ₹796, citing a slightly higher discount rate and softer profit margin outlook that more than offset modestly stronger revenue growth forecasts and a lower assumed future P E multiple. What's in the News Launched ELAIRA, an intelligent digital co worker integrated with ELLIPSE 2.0 to automate enterprise support, targeting up to 40% Tier 1 ticket deflection and large scale TCO savings over three years (company announcement).Narrative Update • Dec 10
HAPPSTMNDS: Future AI Workflow Automation Wins Will Support Continued Share Momentum
Analysts have modestly increased their price target on Happiest Minds Technologies to approximately ₹618 from about ₹605, citing slightly higher long term revenue growth expectations and a richer future earnings multiple that more than offset a marginally lower projected profit margin. What's in the News Launched ELAIRA, an intelligent digital co worker integrated with ELLIPSE 2.0, to automate enterprise support operations with conversational self service on Microsoft Teams and multilingual, agent assisted workflows for regulated industries (company announcement).Narrative Update • Nov 26
HAPPSTMNDS: Future Dividend And AI Success Will Support Continued Share Momentum
Analysts have revised their price target for Happiest Minds Technologies, lowering it from ₹628.29 to ₹605.43. They cited updated assessments of fair value and profit margins as key factors in their adjusted outlook.Narrative Update • Nov 12
HAPPSTMNDS: Recent Dividend Announcement And AI Deployment Will Drive Upward Momentum
Analysts have slightly decreased their price target for Happiest Minds Technologies from ₹635 to ₹628.29. This change is due to modest adjustments to expectations for growth, profitability, and valuation multiples.Analysis Article • Nov 01
Results: Happiest Minds Technologies Limited Exceeded Expectations And The Consensus Has Updated Its Estimates
The quarterly results for Happiest Minds Technologies Limited ( NSE:HAPPSTMNDS ) were released last week, making it a...Narrative Update • Oct 29
AI-Driven Accuracy Gains And Leadership Moves Will Fuel Further Upside
Analysts have revised their price target for Happiest Minds Technologies downward from ₹661.43 to ₹635.00. This change reflects updated views on growth prospects and profitability.Analysis Article • Sep 27
Happiest Minds Technologies (NSE:HAPPSTMNDS) Could Be Struggling To Allocate Capital
What trends should we look for it we want to identify stocks that can multiply in value over the long term? In a...Analysis Article • Jun 18
Happiest Minds Technologies Limited (NSE:HAPPSTMNDS) Not Lagging Market On Growth Or Pricing
Happiest Minds Technologies Limited's ( NSE:HAPPSTMNDS ) price-to-earnings (or "P/E") ratio of 54.1x might make it look...Analysis Article • May 15
Happiest Minds Technologies Limited Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now
Happiest Minds Technologies Limited ( NSE:HAPPSTMNDS ) last week reported its latest yearly results, which makes it a...Analysis Article • Apr 18
Is Happiest Minds Technologies (NSE:HAPPSTMNDS) Using Too Much Debt?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Analysis Article • Mar 28
Returns On Capital Signal Tricky Times Ahead For Happiest Minds Technologies (NSE:HAPPSTMNDS)
What trends should we look for it we want to identify stocks that can multiply in value over the long term? Firstly...
New Narrative • Mar 18
Generative AI And Acquisitions Will Strengthen BFSI And Healthcare Services
The creation of a generative AI unit and strategic acquisitions target BFSI and healthcare for significant revenue and margin growth.Analysis Article • Mar 04
Happiest Minds Technologies Limited's (NSE:HAPPSTMNDS) Price Is Out Of Tune With Earnings
Happiest Minds Technologies Limited's ( NSE:HAPPSTMNDS ) price-to-earnings (or "P/E") ratio of 45.9x might make it look...Analysis Article • Feb 07
₹761: That's What Analysts Think Happiest Minds Technologies Limited (NSE:HAPPSTMNDS) Is Worth After Its Latest Results
Happiest Minds Technologies Limited ( NSE:HAPPSTMNDS ) last week reported its latest third-quarter results, which makes...Analysis Article • Dec 21
The Returns On Capital At Happiest Minds Technologies (NSE:HAPPSTMNDS) Don't Inspire Confidence
To find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'll want to...Analysis Article • Nov 17
Analyst Estimates: Here's What Brokers Think Of Happiest Minds Technologies Limited (NSE:HAPPSTMNDS) After Its Second-Quarter Report
Shareholders might have noticed that Happiest Minds Technologies Limited ( NSE:HAPPSTMNDS ) filed its second-quarter...Analysis Article • Sep 20
Investors Could Be Concerned With Happiest Minds Technologies' (NSE:HAPPSTMNDS) Returns On Capital
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? One common approach...Analysis Article • Jun 05
Is Happiest Minds Technologies (NSE:HAPPSTMNDS) Using Too Much Debt?
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company...Analysis Article • Mar 29
What Happiest Minds Technologies Limited's (NSE:HAPPSTMNDS) P/E Is Not Telling You
When close to half the companies in India have price-to-earnings ratios (or "P/E's") below 28x, you may consider...Analysis Article • Feb 10
Happiest Minds Technologies (NSE:HAPPSTMNDS) Has A Pretty Healthy Balance Sheet
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Analysis Article • Jan 15
Capital Allocation Trends At Happiest Minds Technologies (NSE:HAPPSTMNDS) Aren't Ideal
There are a few key trends to look for if we want to identify the next multi-bagger. One common approach is to try and...Earnings and Revenue Growth Forecasts
| Date | Revenue | Earnings | Free Cash Flow | Cash from Op | Avg. No. Analysts |
|---|---|---|---|---|---|
| 3/31/2029 | 33,557 | 3,776 | 3,200 | N/A | 4 |
| 3/31/2028 | 29,681 | 3,275 | 2,827 | N/A | 7 |
| 3/31/2027 | 26,466 | 2,799 | 2,378 | N/A | 7 |
| 6/30/2026 | 23,937 | 2,231 | N/A | N/A | N/A |
| 3/31/2026 | 23,151 | 2,126 | 2,543 | 2,614 | N/A |
| 12/31/2025 | 22,556 | 1,855 | N/A | N/A | N/A |
| 9/30/2025 | 21,989 | 1,953 | 2,103 | 2,229 | N/A |
| 6/30/2025 | 21,469 | 1,908 | N/A | N/A | N/A |
| 3/31/2025 | 20,608 | 1,847 | 2,253 | 2,364 | N/A |
| 12/31/2024 | 19,336 | 2,226 | N/A | N/A | N/A |
| 9/30/2024 | 18,126 | 2,322 | 2,454 | 2,522 | N/A |
| 6/30/2024 | 16,976 | 2,411 | N/A | N/A | N/A |
| 3/31/2024 | 16,247 | 2,484 | 2,023 | 2,126 | N/A |
| 12/31/2023 | 15,854 | 2,341 | N/A | N/A | N/A |
| 9/30/2023 | 15,424 | 2,320 | 2,263 | 2,472 | N/A |
| 6/30/2023 | 14,912 | 2,330 | N/A | N/A | N/A |
| 3/31/2023 | 14,293 | 2,310 | 678 | 2,072 | N/A |
| 12/31/2022 | 13,519 | 2,254 | N/A | N/A | N/A |
| 9/30/2022 | 12,689 | 2,168 | 333 | 1,593 | N/A |
| 6/30/2022 | 11,780 | 2,018 | N/A | N/A | N/A |
| 3/31/2022 | 10,937 | 1,812 | 1,640 | 1,681 | N/A |
| 12/31/2021 | 10,138 | 1,651 | N/A | N/A | N/A |
| 9/30/2021 | 9,227 | 1,584 | 903 | 942 | N/A |
| 6/30/2021 | 8,410 | 1,480 | N/A | N/A | N/A |
| 3/31/2021 | 7,734 | 1,625 | 1,422 | 1,432 | N/A |
| 12/31/2020 | 7,391 | 1,317 | N/A | N/A | N/A |
| 9/30/2020 | 7,177 | 1,109 | 1,732 | 1,743 | N/A |
| 6/30/2020 | 7,051 | 994 | N/A | N/A | N/A |
| 3/31/2020 | 6,982 | 717 | N/A | 1,122 | N/A |
| 3/31/2019 | 5,904 | 142 | N/A | 576 | N/A |
| 3/31/2018 | 4,629 | -225 | N/A | 103 | N/A |
| 3/31/2017 | 4,308 | 42 | N/A | -114 | N/A |
| 3/31/2016 | 3,412 | 55 | N/A | -132 | N/A |
Analyst Future Growth Forecasts
Earnings vs Savings Rate: HAPPSTMNDS's forecast earnings growth (18.4% per year) is above the savings rate (6.9%).
Earnings vs Market: HAPPSTMNDS's earnings (18.4% per year) are forecast to grow faster than the Indian market (16.8% per year).
High Growth Earnings: HAPPSTMNDS's earnings are forecast to grow, but not significantly.
Revenue vs Market: HAPPSTMNDS's revenue (12.1% per year) is forecast to grow faster than the Indian market (11.3% per year).
High Growth Revenue: HAPPSTMNDS's revenue (12.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: HAPPSTMNDS's Return on Equity is forecast to be low in 3 years time (16.6%).
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/09/10 18:39 |
| End of Day Share Price | 2026/09/10 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2026/03/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Happiest Minds Technologies Limited is covered by 12 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Sushovon Nayak | Anand Rathi Shares and Stock Brokers Limited |
| Piyush Kumar Pandey | Centrum Broking Limited |
| Kunal Bajaj | Choice Equity Broking Private Limited |