Happiest Minds Technologies share price today

Happiest Minds Technologies Ltd's share price was ₹312.10 at the close on 4 November 2026. It has been falling for 140 weeks. That is 19.2% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹298 and ₹505, and at that close it sat 7% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Happiest Minds Technologies Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 9 weeks running.

Over the last 6.1 years the share price moved −13% while the NIFTY 500 moved +138%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 4 September 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: indian funds and insurers (DIIs) cut their stake for 6 quarters in a row, revenue up on a year earlier for 11 quarters in a row (every quarter we can compare) and foreign funds (FIIs) raised their stake for 6 quarters in a row.

1. Indian funds and insurers (DIIs) cut their stake for 6 quarters in a row

   From 10.6% to 3.2% of the company by the September 2026 quarter.

2. Revenue up on a year earlier for 11 quarters in a row (every quarter we can compare)

   In the June 2026 quarter revenue was ₹629 crore, +14.4% on a year earlier.

   Why: Revenue rose because healthcare and life sciences customers spent more, and that was the fastest-growing part of the business.

   Next results: check whether those large deals are signed and start adding money in the third and fourth quarters.

   From the earnings call on 28 Jul 2026.

3. Foreign funds (FIIs) raised their stake for 6 quarters in a row

   From 5% to 6.5% of the company by the September 2026 quarter.

For April to June 2026 (the quarter ended 30 June 2026), Happiest Minds Technologies reported revenue of ₹629 crore, up 14.4% from ₹550 crore a year earlier, and a profit of ₹68.0 crore, up 19.3% from ₹57.0 crore.

Happiest Minds Technologies results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Happiest Minds Technologies' management discussed these results on a call held on 28 July 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

Happiest Minds Technologies closed at ₹312.10 on 4 November 2026, down 36.9% from ₹494.60 a year earlier (7 November 2025) and down 75.7% over five years. Its highest weekly close since September 2020 was ₹1,503.05 on 3 September 2021.

Happiest Minds Technologies share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

326 weekly closes from 18 September 2020 to 4 November 2026.

6 Nov 2026: Coming up: ex-date for an interim dividend of ₹3.05 a share. 4 Nov 2026: Happiest Minds Technologies closed at ₹312.10, up 4.9% on the week and up 2.4% on the month.

Earlier

• 28 Jul 2026: Happiest Minds Technologies held its results call for April to June 2026. Management guided: FY27 revenue growth of at least 12.5% on a year earlier, excluding acquisitions.
• 17 Jul 2026: ex-date for a dividend of ₹3.65 a share.
• Results for April to June 2026: Revenue up 14.4% and profit up 19.3% on a year earlier.

Happiest Minds Technologies paid ₹3.65 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 1.17% at the ₹312.10 close on 4 November 2026. The last was a dividend of ₹3.65 a share, ex-date 17 July 2026. Next: ₹3.05 a share, ex-date 6 November 2026.

Happiest Minds Technologies dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date.

Yes. Happiest Minds Technologies Ltd paid out 44% of its profit as dividends in FY26, and it paid a dividend in 6 of its last 8 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 28 July 2026, Happiest Minds Technologies' management guided: FY27 revenue growth of at least 12.5% on a year earlier, excluding acquisitions.

“We have a few large deals in the pipeline and we need to convert a couple of them, which will start providing revenue in Q3 and Q4.”Joseph Anantharaju, on the call for April to June 2026

What management guided

• A couple of large pipeline deals expected to begin contributing revenue in Q3 and Q4, while a banking deal extension is hoped to close in July to September 2026.
• FY28 growth aspiration of 15.0% remains unchanged.
• Management aims to publish an AI-led revenue figure across GBS, infrastructure and SDLC by the end of July to September 2026.
• GBS objective is to reach at least 10.0% of overall business, with no deadline stated.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 28 July 2026.

When Happiest Minds Technologies reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: July to September 2026 banking deal extension and early conversion of large pipeline opportunities; management expects a couple of larger deals to contribute from Q3 and Q4.

Happiest Minds Technologies is on 3 of our India lists: 52 week high & low, AI & data centre stocks and IT stocks.

Happiest Minds Technologies Ltd earned ₹68.0 Cr of net profit in the Jun 2026 quarter, +19.3% on the same quarter a year earlier. That is the 2nd quarter in a row of profit growth. Full-year FY26 profit was ₹213 Cr. Over 7 years profit has grown 47.5% a year on average. That is 10.8% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹57.0 Cr.

For the full year, FY26 profit was ₹213 Cr (+15.1% on the year before).

Why profit moved: revenue changed +14.4% on a year earlier and the margin moved +2.0 percentage points. Most of the change came from keeping more of each sale.

On average over the last four quarters, profit changed +21.7% and revenue +11.5%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

Happiest Minds Technologies Ltd reported ₹629 Cr of revenue in the Jun 2026 quarter, +14.4% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 7 years it has grown 21.6% a year on average. The last full year, FY26, came in at ₹2,315 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹2,395 Cr.

FY26 revenue was ₹2,315 Cr, +12.3% on the year before.

Recent pace: the last four quarters grew +11.5% on average, against 21.6% a year over the longer run, so this year is growing slower than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +11.5%, against +18.8% a year over the last 8 quarters (rolling over); profit over the last 12 months grew +16.8%, against −3.8% a year (accelerating).

Happiest Minds Technologies Ltd's operating margin was 19.0% in the Jun 2026 quarter, 2.0 percentage points higher than the same quarter a year ago. Across 8 years it has been between 9.0% and 25.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed +1.6 percentage points on the year while gross margin changed +0.0 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

Over the last 3 years, 110% of Happiest Minds Technologies Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹261 Cr of operating cash against ₹213 Cr of profit. After ₹51.0 Cr of spending on assets, ₹210 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 110% of profit came in as cash: the cash cycle stayed about the same between FY21 and FY26, so the cash follows profit, not the cycle.

What to look at next: the bigger use of cash is spending on new assets, at 4.1× depreciation over three years. The next section checks what that spending is building.

Happiest Minds Technologies Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 62 days in FY26, up from 58 days in FY21. It spent ₹974 Cr on assets over the last 3 years.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹2,315 Cr, each day of that cycle ties up about ₹6.3 Cr, so roughly ₹393 Cr is tied up in the business at any time.

Spending on assets: ₹974 Cr over the last 3 years, against ₹235 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹2.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Happiest Minds Technologies Ltd's P/E is 20.2×, about the lowest it has ever been. Its usual P/E (the middle reading) is 54.4×, over 6.1 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹14.66.

Why the multiple is where it is: over the past year earnings per share moved +15.1% while the price moved −36.9%. Earnings did better than the price, which pulled the multiple down within its own range.

Where the price move came from: over 5 years the price moved −24.6% a year; about +6.9% a year came from earnings growth and about −31.5 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple.

In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple.

Happiest Minds Technologies Ltd's business is turning around. Profit growth has swung from −20.7% at its low to +16.8%, improving for 4 quarters in a row, with ROCE steady at 17.6%. This is based on 12 quarters of 4 measures.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: a turn in growth is often where a bigger change starts. The lines say a turn is forming, so the question is whether the next quarters confirm it.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Happiest Minds Technologies Ltd earned a ROCE of 13% in FY26. Its return on capital used (ROIC) is 3.7 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 9.2% net margin and 0.65× asset turnover (sales divided by assets).

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Why the return is what it is (FY26): a 9.2% net margin × 0.65× asset turnover × 2.12× leverage (assets divided by equity) ≈ 12.7% on equity. The margin does its share; borrowing is a big part of it.

The key test, return on capital used minus the cost of capital: 15.7% − 12.0% = +3.7 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Positive but thin: it creates value with little room for error.

The 15.7% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 10.6%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method.

Happiest Minds Technologies Ltd has total debt of ₹1,753 Cr against shareholder equity of ₹1,776 Cr as of Jun 2026, so its debt is 0.99× its equity. Year by year, that ratio went from 0.38 in FY22 to 0.89 in FY26. Keep that borrowing in mind when reading the returns on this page.

Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.

Foreign institutions raised their stake in Happiest Minds Technologies Ltd by 1.2 percentage points over 8 quarters, the biggest change among its owners. Foreign institutions now own 6.5% of the company. Domestic institutions moved −1.0 points over the same period, to 3.2%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Over the last two years: Foreign institutions: +1.2 points over 8 quarters, to 6.5%; Domestic institutions: −1.0 points over 8 quarters, to 3.2%; Promoters: +0.0 points over 8 quarters, to 44.2%.

Why the owners changed: foreign institutions drove it (+1.2 points), with the other side taken by domestic institutions (−1.0 points). They raised their stake step by step.

For Happiest Minds Technologies Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

53.4 out of 100, rank 7 of 12 in IT Enabled Services, with 81% of the evidence available.

Happiest Minds Technologies Ltd scores 53.4 out of 100 against the 12 companies it is compared with in IT Enabled Services, ranking 7. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.

The four parts add up to the total exactly: 16 + 16.3 + 13.3 + 7.8 = 53.4. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

Happiest Minds Technologies ranks 7 of 12 IT Enabled Services companies on the 4-Factor Sector Score, with 53.4 out of 100.