# Happiest Minds Technologies share price today (Happiest Minds Technologies Ltd, NSE: HAPPSTMNDS)

> Happiest Minds Technologies share price today: ₹311.25 at the NSE close on 3 November 2026, down 39.6% in a year. Happiest Minds Technologies (NSE: HAPPSTMNDS) is worth ₹4,734 crore, trades at a P/E of 20.2 and has closed between ₹297.65 and ₹504.85 over the past 52 weeks. > Happiest Minds Technologies Ltd's earnings have grown faster than its share price. Earnings per share grew +15.1% in a year while the price moved −39.6%. HAPPSTMNDS · IT Enabled Services · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/happiest-minds-technologies-ltd

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## Key numbers

- Business trend: Turning around, from the last 12 quarters
- Price: ₹311.25 (−39.6% in a year)
- P/E: 20.2× (lower than 98% of the last 6.1 years)
- Revenue (Jun 2026): ₹629 Cr (+14.4% on a year ago)
- Profit (Jun 2026): ₹68.0 Cr (+19.3% on a year ago)
- Operating margin: 19.0% (+2.0 points on a year ago)
- ROCE: 13%, FY26
- ROIC: 15.7%, against a 12.0% cost of capital: +3.7 points

The main question: yearly earnings per share moved +15.1% while the share price moved −39.6%. ## What is the Happiest Minds Technologies share price today? Happiest Minds Technologies Ltd's share price was ₹311.25 at the close on 3 November 2026. It has been falling for 140 weeks. That is 19.4% 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. 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. ## What changed at Happiest Minds Technologies this quarter? 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. ## What are Happiest Minds Technologies' latest quarterly results? 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

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹629 crore | ₹550 crore | +14.4% |
| Profit | ₹68.0 crore | ₹57.0 crore | +19.3% |
| Earnings per share | ₹4.44 | ₹3.75 | +18.4% |
| Operating margin | 19.0% | 17.0% | +2.0 points |

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.)

## What is the Happiest Minds Technologies share price history? Happiest Minds Technologies closed at ₹311.25 on 3 November 2026, down 39.6% from ₹515.55 a year earlier (31 October 2025) and down 75.8% 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

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹301.15 | +3.4% |
| 1 month ago · 1 Oct 2026 | ₹304.70 | +2.1% |
| 6 months ago · 30 Apr 2026 | ₹373.10 | −16.6% |
| 1 year ago · 31 Oct 2025 | ₹515.55 | −39.6% |
| 3 years ago · 3 Nov 2023 | ₹817.10 | −61.9% |
| 5 years ago · 4 Nov 2021 | ₹1,284.65 | −75.8% |
| Earliest weekly close in our records · 18 Sep 2020 | ₹358.70 | −13.2% |
| Highest weekly close since September 2020 · 3 Sep 2021 | ₹1,503.05 | −79.3% |
| Lowest weekly close since September 2020, also the 52-week low · 30 Oct 2026 | ₹297.65 | +4.6% |
| 52-week high (weekly close) · 14 Nov 2025 | ₹504.85 | −38.3% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (326 weekly closes from 18 September 2020 to 3 November 2026.)

## What is the latest news on Happiest Minds Technologies? 6 Nov 2026: Coming up: ex-date for an interim dividend of ₹3.05 a share. 3 Nov 2026: Happiest Minds Technologies closed at ₹311.25, up 3.4% on the week and up 2.1% 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. ## What dividend does Happiest Minds Technologies pay? Happiest Minds Technologies paid ₹3.65 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 1.17% at the ₹311.25 close on 3 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

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 6 Nov 2026 (upcoming) | ₹3.05 | Interim | same day |
| 17 Jul 2026 | ₹3.65 | Dividend | same day |
| 4 Nov 2025 | ₹2.75 | Interim | same day |
| 18 Jul 2025 | ₹3.50 | Dividend | same day |
| 27 Nov 2024 | ₹2.50 | Interim | same day |
| 14 Jun 2024 | ₹3.25 | Dividend | same day |
| 30 Oct 2023 | ₹2.50 | Interim | same day |
| 7 Jul 2023 | ₹3.40 | Dividend | n/a |
| 2 Nov 2022 | ₹2 | Interim | 3 Nov 2022 |
| 23 Jun 2022 | ₹2 | Dividend | n/a |
| 9 Nov 2021 | ₹1.75 | Interim | 10 Nov 2021 |
| 29 Jun 2021 | ₹3 | Dividend | n/a |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

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 4 November 2026.)

## What did Happiest Minds Technologies management say on the latest results call? 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](https://files.tijorifinance.com/insight/india/40652/Conference Call/CC-Jul26.pdf). (From the call for April to June 2026, 28 July 2026.)

## What to watch in Happiest Minds Technologies' next results? 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. - What to check (from the call)
- 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. - Q2 operating margin impact from annual wage increments and evidence that volume, pricing and value increases claw back the pressure. - Publication of the AI-led revenue figure by the end of July to September 2026 across GBS, infrastructure and SDLC. - IMSS return to growth after the non-repeat of Q4's one-time license revenue. ## Which stock lists is Happiest Minds Technologies on? Happiest Minds Technologies is on 4 of our India lists: 52 week high & low, Dividend stocks, AI & data centre stocks and IT stocks. - [52 week high & low 52-week position: At 52-week low](https://www.sectoralpha.in/52-week-high-stocks-india)
- [Dividend stocks Regular dividend yield (%): 2.09](https://www.sectoralpha.in/dividend-stocks-india)
- [AI & data centre stocks Group on the list: AI services revenue](https://www.sectoralpha.in/ai-stocks-india)
- [IT stocks Market value (₹ crore): 4657.613976146481](https://www.sectoralpha.in/sectors/it-stocks-india)

## Is Happiest Minds Technologies profitable? 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. 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. ## How much revenue does Happiest Minds Technologies make, and is it growing? 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. 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). ## How much of every ₹100 of sales does Happiest Minds Technologies keep? 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. 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. ## Is Happiest Minds Technologies' profit turning into cash? 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. 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. ## Where does Happiest Minds Technologies' cash go? 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. 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. ## What is Happiest Minds Technologies' P/E ratio, and how does it compare with its own history? 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. 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 −39.6%. 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 −24.7% a year; about +6.9% a year came from earnings growth and about −31.6 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. ## Is the Happiest Minds Technologies business getting better or worse? 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. 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. ## How much does Happiest Minds Technologies earn on its capital? 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). 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. ## Does Happiest Minds Technologies have too much debt? 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. ## What is the Happiest Minds Technologies shareholding pattern? 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. 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. ## How far is Happiest Minds Technologies from balance-sheet trouble? 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. ## How does Happiest Minds Technologies rank in its industry? 54.0 out of 100, rank 6 of 12 in IT Enabled Services, with 81% of the evidence available. Happiest Minds Technologies Ltd scores 54.0 out of 100 against the 12 companies it is compared with in IT Enabled Services, ranking 6. 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 + 13.9 + 7.8 = 54. 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. ## Which companies is Happiest Minds Technologies compared with? Happiest Minds Technologies ranks 6 of 12 IT Enabled Services companies on the 4-Factor Sector Score, with 54.0 out of 100. 1. [Alldigi Tech Ltd](https://www.sectoralpha.in/stocks/alldigi-tech-ltd) ALLDIGI · turning · Most evidence points up · 85% evidence 72.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.6/35 · Revenue 6.1% · Profit 31.9% · Operating margin change 6 points · 100% evidence Capital efficiency 20.9/25 · ROCE 27.9% · Operating margin 30% · 100% evidence Valuation 15.5/20 · P/E 12.5× · PEG 0.62 · 100% evidence Relative strength 11.5/20 · Lead over its industry n/a · Lead over NIFTY 500 6.7% · 1 year -6% · 25% evidence · 1 of 12 weeks ahead Exact sum: 24.6 + 20.9 + 15.5 + 11.5 = 72.5 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Firstsource Solutions Ltd](https://www.sectoralpha.in/stocks/firstsource-solutions-ltd) FSL · losing its lead · Most evidence points up · 100% evidence 69.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.1/35 · Revenue 20.3% · Profit 7.9% · Operating margin change 1 points · 100% evidence Capital efficiency 17.4/25 · ROCE 16.8% · Operating margin 17% · 100% evidence Valuation 11.1/20 · P/E 24.3× · PEG 0.81 · 100% evidence Relative strength 18.1/20 · Lead over its industry 12.8% · Lead over NIFTY 500 12.2% · 1 year -17.2% · 100% evidence · 7 of 12 weeks ahead Exact sum: 23.1 + 17.4 + 11.1 + 18.1 = 69.7 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 3. [eClerx Services Ltd](https://www.sectoralpha.in/stocks/eclerx-services-ltd) ECLERX · quiet · Evidence leans up · 100% evidence 58.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.7/35 · Revenue 22.4% · Profit 18.2% · Operating margin change -3 points · 100% evidence Capital efficiency 21.1/25 · ROCE 34.4% · Operating margin 24% · 100% evidence Valuation 10.2/20 · P/E 20.2× · PEG 0.85 · 100% evidence Relative strength 5.2/20 · Lead over its industry -10.2% · Lead over NIFTY 500 -10.8% · 1 year -34.1% · 100% evidence · 10 of 12 weeks ahead Exact sum: 21.7 + 21.1 + 10.2 + 5.2 = 58.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [IRIS Regtech Solutions Ltd](https://www.sectoralpha.in/stocks/iris-regtech-solutions-ltd) IRIS · Evidence leans up · 76% evidence 55.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.0/43.75 · Revenue 18.6% · Profit 100% · Operating margin change -6.1 points · 88% evidence Capital efficiency 8.0/31.25 · ROCE 10.6% · Operating margin -5.1% · 100% evidence Valuation 18.7/25 · P/E 37.8× · PEG 0.69 · 100% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 29 + 8 + 18.7 = 55.7 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: There is no relative-strength reading for this week, so the score is built from earnings, capital efficiency and valuation alone. 5. [One Point One Solutions Ltd](https://www.sectoralpha.in/stocks/one-point-one-solutions-ltd) ONEPOINT · breaking out · Evidence leans up · 89% evidence 54.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.7/35 · Revenue 52.3% · Profit 32.4% · Operating margin change 1 points · 88% evidence Capital efficiency 9.4/25 · ROCE 9.6% · Operating margin 23% · 100% evidence Valuation 3.8/20 · P/E 41.5× · PEG 3.95 · 65% evidence Relative strength 20.0/20 · Lead over its industry 34.8% · Lead over NIFTY 500 34.8% · 1 year 54.9% · 100% evidence · 6 of 12 weeks ahead Exact sum: 21.7 + 9.4 + 3.8 + 20 = 54.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. Happiest Minds Technologies Ltd this page HAPPSTMNDS · quiet · Evidence leans up · 81% evidence 54.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.0/35 · Revenue 11.5% · Profit 16.8% · Operating margin change 2 points · 88% evidence Capital efficiency 16.3/25 · ROCE 13.3% · Operating margin 19% · 100% evidence Valuation 13.9/20 · P/E 19.3× · PEG 1.4 · 100% evidence Relative strength 7.8/20 · Lead over its industry n/a · Lead over NIFTY 500 -20% · 1 year -42.3% · 25% evidence · 3 of 12 weeks ahead Exact sum: 16 + 16.3 + 13.9 + 7.8 = 54 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Aurum Proptech Ltd](https://www.sectoralpha.in/stocks/aurum-proptech-ltd) AURUM · quiet · Evidence leans up · 74% evidence 54.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.6/35 · Revenue 72.5% · Profit 100% · Operating margin change 4.1 points · 74% evidence Capital efficiency 7.5/25 · ROCE 1.3% · Operating margin 26% · 100% evidence Valuation 8.5/20 · P/E 124× · PEG n/a · 15% evidence Relative strength 11.4/20 · Lead over its industry 8.1% · Lead over NIFTY 500 8.4% · 1 year 17.4% · 100% evidence · 8 of 12 weeks ahead Exact sum: 26.6 + 7.5 + 8.5 + 11.4 = 54 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [Latent View Analytics Ltd](https://www.sectoralpha.in/stocks/latent-view-analytics-ltd) LATENTVIEW · quiet · Evidence leans up · 67% evidence 53.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 17.1/35 · Revenue 20.3% · Profit 5.2% · Operating margin change -2 points · 95% evidence Capital efficiency 15.8/25 · ROCE 15.8% · Operating margin 20% · 76% evidence Valuation 13.0/20 · P/E 21.8× · PEG n/a · 50% evidence Relative strength 7.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -33.6% · 1 year -53.1% · 25% evidence · 0 of 12 weeks ahead Exact sum: 17.1 + 15.8 + 13 + 7.5 = 53.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [Route Mobile Ltd](https://www.sectoralpha.in/stocks/route-mobile-ltd) ROUTE · basing · Evidence leans down · 74% evidence 44.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 11.7/35 · Revenue 0.9% · Profit 99.5% · Operating margin change -2 points · 71% evidence Capital efficiency 14.7/25 · ROCE 17.4% · Operating margin 10% · 76% evidence Valuation 14.4/20 · P/E 7.9× · PEG n/a · 50% evidence Relative strength 4.1/20 · Lead over its industry -15% · Lead over NIFTY 500 -15.2% · 1 year -38.4% · 100% evidence · 0 of 12 weeks ahead Exact sum: 11.7 + 14.7 + 14.4 + 4.1 = 44.9 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 10. [Protean eGov Technologies Ltd](https://www.sectoralpha.in/stocks/protean-egov-technologies-ltd) PROTEAN · breaking out · Evidence leans down · 81% evidence 43.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.8/35 · Revenue 21.4% · Profit -13.3% · Operating margin change -2.8 points · 88% evidence Capital efficiency 11.1/25 · ROCE 12.7% · Operating margin 5% · 100% evidence Valuation 7.9/20 · P/E 29.9× · PEG 1.9 · 100% evidence Relative strength 11.2/20 · Lead over its industry n/a · Lead over NIFTY 500 6.5% · 1 year -25.5% · 25% evidence · 6 of 12 weeks ahead Exact sum: 12.8 + 11.1 + 7.9 + 11.2 = 43 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [RPSG Ventures Ltd](https://www.sectoralpha.in/stocks/rpsg-ventures-ltd) RPSGVENT · losing its lead · Evidence leans down · 68% evidence 41.1 out of 100 Growth Capital Valuation Relative
12. [Hinduja Global Solutions Ltd](https://www.sectoralpha.in/stocks/hinduja-global-solutions-ltd) HGS · quiet · Most evidence points down · 76% evidence 20.6 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [IT Enabled Services](https://www.sectoralpha.in/sectors/it-enabled-services), all 12 compared on one page. ## Which companies are close to Happiest Minds Technologies in size? Happiest Minds Technologies is the 3rd largest of 12 IT Enabled Services companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Firstsource Solutions and eClerx Services. Just below it: Latent View Analytics, Route Mobile, RPSG Ventures and Protean eGov Technologies. ### IT Enabled Services companies close in size

1. [Firstsource Solutions Ltd](https://www.sectoralpha.in/stocks/firstsource-solutions-ltd) ₹20,709 crore
2. [eClerx Services Ltd](https://www.sectoralpha.in/stocks/eclerx-services-ltd) ₹14,641 crore
3. Happiest Minds Technologies Ltd ₹4,532 crore
4. [Latent View Analytics Ltd](https://www.sectoralpha.in/stocks/latent-view-analytics-ltd) ₹4,357 crore
5. [Route Mobile Ltd](https://www.sectoralpha.in/stocks/route-mobile-ltd) ₹2,764 crore
6. [RPSG Ventures Ltd](https://www.sectoralpha.in/stocks/rpsg-ventures-ltd) ₹2,661 crore
7. [Protean eGov Technologies Ltd](https://www.sectoralpha.in/stocks/protean-egov-technologies-ltd) ₹2,572 crore

[All 12 IT Enabled Services companies, largest first](https://www.sectoralpha.in/sectors/it-enabled-services#all-companies)

### Companies close in size in other industries

1. [SG Finserve Ltd](https://www.sectoralpha.in/stocks/sg-finserve-ltd) ₹4,540 crore · Finance & Investments - MSME Lending
2. [Vikram Solar Ltd](https://www.sectoralpha.in/stocks/vikram-solar-ltd) ₹4,540 crore · Capital Goods - Solar
3. Happiest Minds Technologies Ltd ₹4,532 crore
4. [Energy Infrastructure Trust](https://www.sectoralpha.in/stocks/energy-infrastructure-trust) ₹4,505 crore
5. [Bansal Wire Industries Ltd](https://www.sectoralpha.in/stocks/bansal-wire-industries-ltd) ₹4,493 crore · Steel - Wires

## What else do people ask about Happiest Minds Technologies? ### What is Happiest Minds Technologies's share price today? Happiest Minds Technologies Ltd's share price is ₹311.25, −39.6% over the past year. The whole company is worth ₹4,734 Cr on the market. In the last 52 weeks it traded between ₹298 to ₹505; today it is 7% of the way up from the low, 19.4% below its 200-day average (as of 3 November 2026). ### What were Happiest Minds Technologies's latest quarterly results? Happiest Minds Technologies Ltd reported revenue of ₹629 Cr and net profit of ₹68.0 Cr for the Jun 2026 quarter. Revenue rose 14.4% and profit rose 19.3% compared with a year earlier. Earnings per share were ₹4.44. The operating margin was 19.0%, 2.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is Happiest Minds Technologies's market cap? Happiest Minds Technologies Ltd's market capitalisation is ₹4,734 Cr at a share price of ₹311.25. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### What is Happiest Minds Technologies's P/E ratio? Happiest Minds Technologies Ltd's P/E is 20.2×, higher than 2% of its own last 6 years. Its usual level (the middle reading) is 54.4×. This compares the price with the company's own past; it is not a view on what the shares are worth (as of 3 November 2026). ### How is Happiest Minds Technologies valued against its own history? Against its own history, Happiest Minds Technologies Ltd's valuation is low: its P/E of 20.2× has been lower only 2% of the time in 6 years (usual level 54.4×). This compares the price with the company's own past; it is not a view on what the shares are worth or where the price goes next (as of 3 November 2026). ### How is Happiest Minds Technologies performing? Happiest Minds Technologies Ltd's share price has been falling for 140 weeks. In its latest quarter, revenue rose 14.4% and profit rose 19.3% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 9 weeks running (as of 3 November 2026). ### Will Happiest Minds Technologies's share price go up? This page does not forecast Happiest Minds Technologies Ltd's share price. What it shows instead: the share price is ₹311.25, and it has been falling for 140 weeks. Its P/E of 20.2× is higher than 2% of its own last 6 years (as of 3 November 2026). ### Who owns Happiest Minds Technologies? Promoters own 44.2% of Happiest Minds Technologies Ltd, foreign institutions 6.5%, domestic institutions 3.2% and the public 44.9% (latest quarter). The biggest change over the last two years: Foreign institutions raised their stake by 1.2 percentage points over 8 quarters (as of 3 November 2026). ### Does Happiest Minds Technologies have too much debt? Happiest Minds Technologies Ltd has a moderate amount of debt: its debt is 0.88× its equity, and its operating profit is 4 times its interest bill. FY26 borrowings were ₹1,494 Cr against equity of ₹1,689 Cr. Keep that borrowing in mind when reading the returns on this page (as of 3 November 2026). ### Where is Happiest Minds Technologies in its business cycle? Happiest Minds Technologies Ltd's FY26 operating margin was 17.0%, against a 8-year range of 9.0% to 25.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 19.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Happiest Minds Technologies story? The main question: yearly earnings per share moved +15.1% while the share price moved −39.6%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Happiest Minds Technologies a stock worth studying right now? What the numbers show: Happiest Minds Technologies Ltd's earnings have grown faster than its share price. Earnings per share grew +15.1% in a year while the price moved −39.6%. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Happiest Minds Technologies share price forecast for 2026? What management itself guided: FY27 revenue growth of at least 12.5% on a year earlier, excluding acquisitions. ## Lists

- 52 week high & low: https://www.sectoralpha.in/52-week-high-stocks-india
- Dividend stocks: https://www.sectoralpha.in/dividend-stocks-india
- AI & data centre stocks: https://www.sectoralpha.in/ai-stocks-india
- IT stocks: https://www.sectoralpha.in/sectors/it-stocks-india

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