Happiest Minds Technologies Limited

NSEI:HAPPSTMNDS Stock Report

Market Cap: ₹104.6b

Happiest Minds Technologies Valuation

Is HAPPSTMNDS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of HAPPSTMNDS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: HAPPSTMNDS (₹700.25) is trading above our estimate of fair value (₹342.13)

Significantly Below Fair Value: HAPPSTMNDS is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for HAPPSTMNDS?

Key metric: As HAPPSTMNDS is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for HAPPSTMNDS. This is calculated by dividing HAPPSTMNDS's market cap by their current earnings.
What is HAPPSTMNDS's PE Ratio?
PE Ratio45.1x
Earnings₹2.32b
Market Cap₹104.59b

Price to Earnings Ratio vs Peers

How does HAPPSTMNDS's PE Ratio compare to its peers?

The above table shows the PE ratio for HAPPSTMNDS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average46.4x
MASTEK Mastek
25.5x13.4%₹93.9b
500463 Black Box
64xn/a₹108.8b
SONATSOFTW Sonata Software
63.8x31.2%₹176.4b
532175 Cyient
32.4x17.4%₹213.6b
HAPPSTMNDS Happiest Minds Technologies
45.1x24.8%₹104.6b

Price-To-Earnings vs Peers: HAPPSTMNDS is good value based on its Price-To-Earnings Ratio (45.1x) compared to the peer average (46.4x).

Price to Earnings Ratio vs Industry

How does HAPPSTMNDS's PE Ratio compare vs other companies in the IN IT Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
GTL GTL
1.2xn/aUS$23.44m
517429 Athena Global Technologies
0.7xn/aUS$16.97m
509040 Netlink Solutions (India)
3.6xn/aUS$5.66m
512341 CES
0.05xn/aUS$130.33k
No more companies available in this PE range
HAPPSTMNDS 45.1xIndustry Avg. 36.7xNo. of Companies14PE020406080100+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: HAPPSTMNDS is expensive based on its Price-To-Earnings Ratio (45.1x) compared to the Indian IT industry average (36.7x).

Price to Earnings Ratio vs Fair Ratio

What is HAPPSTMNDS's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

HAPPSTMNDS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio45.1x
Fair PE Ratio37x

Price-To-Earnings vs Fair Ratio: HAPPSTMNDS is expensive based on its Price-To-Earnings Ratio (45.1x) compared to the estimated Fair Price-To-Earnings Ratio (37x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst HAPPSTMNDS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹700.25
₹809.67
+15.6%
6.5%₹872.00₹710.00n/a6
Dec ’25₹723.30
₹809.67
+11.9%
6.5%₹872.00₹710.00n/a6
Nov ’25₹769.15
₹852.17
+10.8%
7.8%₹975.00₹750.00n/a6
Oct ’25₹805.45
₹852.17
+5.8%
7.8%₹975.00₹750.00n/a6
Sep ’25₹812.30
₹833.00
+2.5%
4.7%₹872.00₹750.00n/a6
Aug ’25₹812.85
₹879.33
+8.2%
2.8%₹905.00₹830.00n/a6
Jul ’25₹833.35
₹879.33
+5.5%
2.8%₹905.00₹830.00n/a6
Jun ’25₹788.50
₹881.83
+11.8%
1.4%₹905.00₹870.00n/a6
May ’25₹814.50
₹897.67
+10.2%
8.8%₹1,040.00₹800.00n/a6
Apr ’25₹796.50
₹911.00
+14.4%
8.5%₹1,040.00₹800.00n/a6
Mar ’25₹848.25
₹911.00
+7.4%
8.5%₹1,040.00₹800.00n/a6
Feb ’25₹864.20
₹905.75
+4.8%
10.4%₹1,040.00₹800.00n/a4
Jan ’25₹903.65
₹909.25
+0.6%
10.8%₹1,062.00₹800.00n/a4
Dec ’24₹837.80
₹897.25
+7.1%
11.9%₹1,062.00₹800.00₹723.304
Nov ’24₹811.50
₹897.25
+10.6%
11.9%₹1,062.00₹800.00₹769.154
Oct ’24₹874.80
₹1,002.25
+14.6%
13.0%₹1,158.00₹800.00₹805.454
Sep ’24₹924.70
₹1,002.25
+8.4%
13.0%₹1,158.00₹800.00₹812.304
Aug ’24₹930.85
₹1,087.67
+16.8%
6.0%₹1,158.00₹1,001.00₹812.853
Jul ’24₹978.50
₹1,098.33
+12.2%
7.0%₹1,190.00₹1,001.00₹833.353
Jun ’24₹918.85
₹1,110.67
+20.9%
5.6%₹1,190.00₹1,038.00₹788.503
May ’24₹822.75
₹1,131.00
+37.5%
2.4%₹1,158.00₹1,104.00₹814.502
Apr ’24₹767.85
₹1,131.50
+47.4%
2.4%₹1,159.00₹1,104.00₹796.502
Mar ’24₹857.15
₹1,112.33
+29.8%
3.1%₹1,158.00₹1,075.00₹848.253
Feb ’24₹833.65
₹1,112.33
+33.4%
3.1%₹1,158.00₹1,075.00₹864.203
Jan ’24₹881.20
₹1,132.33
+28.5%
3.6%₹1,164.00₹1,075.00₹903.653
Dec ’23₹980.80
₹1,132.33
+15.4%
3.6%₹1,164.00₹1,075.00₹837.803

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/21 21:00
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2024/03/31

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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 here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

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 .

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.

AnalystInstitution
Mohit JainAnand Rathi Shares and Stock Brokers Limited
Piyush Kumar PandeyCentrum Broking Limited
Jathin KaithavalappilChoice Equity Broking Private Limited