• Business

    Broker’s call: Happiest Minds (Buy)

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    By Ks Badri Narayanan

    Copyright thehindubusinessline

    Broker’s call: Happiest Minds (Buy)

    Target: ₹690

    CMP: ₹569.10

    Despite a globally uncertain and challenging environment marked by inflation, currency fluctuations, and geopolitical tensions, Happiest Minds Technologies Ltd delivered a resilient operational performance in FY25. The company’s revenue grew 26.5 per cent y-o-y, aided by organic growth and PureSoftware.

    Happiest Minds continued to invest in digital-first capabilities (AI/GenAI, cloud, cybersecurity, IoT) to execute various projects across diverse geographies and industries while maintaining its asset-light business model and a focus on high-margin segments.

    This performance is underpinned by its long-term strategic initiatives, which include transformational programmes that have consistently driven both profitable growth and execution excellence. It remains committed to delivering sustainable and customer-centric solutions globally.

    Going forward, the company’s growth trajectory will depend on its ability to successfully integrate PureSoftware, deepen client engagements, and maintain high-quality execution in fixed-price projects. With digital transformation spending resilient, Happiest Minds is positioned to sustain double-digit revenue growth, provided it manages margin recovery and working capital discipline effectively.

    We value the company at 31x FY27E EPS to arrive at a TP of ₹690/share. We maintain our Buy rating on the stock.

    Published on September 11, 2025

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