Happiest Minds Technologies Limited

NSEI:HAPPSTMNDS Stock Report

Market Cap: ₹107.6b

Happiest Minds Technologies Valuation

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

Valuation Score

0/6

Valuation Score 0/6

  • 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 (₹720.2) is trading above our estimate of fair value (₹343.9)

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 Ratio46.3x
Earnings₹2.32b
Market Cap₹107.57b

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 Average42.2x
MASTEK Mastek
26.8x13.4%₹98.6b
SONATSOFTW Sonata Software
54x31.3%₹149.1b
500463 Black Box
58.2xn/a₹99.0b
532175 Cyient
29.9x17.3%₹197.2b
HAPPSTMNDS Happiest Minds Technologies
46.3x24.8%₹107.6b

Price-To-Earnings vs Peers: HAPPSTMNDS is expensive based on its Price-To-Earnings Ratio (46.3x) compared to the peer average (42.2x).

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
1.1xn/aUS$21.95m
517429 Athena Global Technologies
0.6xn/aUS$15.50m
509040 Netlink Solutions (India)
3.2xn/aUS$5.13m
512341 CES
0.05xn/aUS$130.33k
No more companies available in this PE range
HAPPSTMNDS 46.3xIndustry Avg. 34.3xNo. of Companies19PE020406080100+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: HAPPSTMNDS is expensive based on its Price-To-Earnings Ratio (46.3x) compared to the Indian IT industry average (34.3x).

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 Ratio46.3x
Fair PE Ratio37.2x

Price-To-Earnings vs Fair Ratio: HAPPSTMNDS is expensive based on its Price-To-Earnings Ratio (46.3x) compared to the estimated Fair Price-To-Earnings Ratio (37.2x).

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₹720.20
₹809.67
+12.4%
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₹800.00n/a4
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
Nov ’23₹977.40
₹1,132.33
+15.9%
3.6%₹1,164.00₹1,075.00₹811.503

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

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