Happiest Minds Technologies Q4FY22 and Year Ended result : Profit grew 44.5% to ₹52 Cr YoY

For an EU multinational manufacturing company, Happiest Minds has taken ownership of building their Test Automation Framework & Develops projects • For a large US fashion retailer, Happiest Minds was chosen as their application security services partner • For a Fortune 100 American multinational technology conglomerate, Happiest Minds was awarded the project for data centre automation

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Incorporated in the year 2011 Happiest Minds Technologies Ltd is engaged in next generation IT solutions & services Company enabling organizations to capture the business benefits of emerging technologies of cloud computing social media mobility solutions business intelligence analytics unified communications and internet of things. The Company offers high degree of skills IPs and domain expertise across a set of focused areas that include Digital Transformation & Enterprise Solutions Product Engineering Infrastructure Management Security Testing and Consulting.

It focuses on industries in the Retail/CPG BFSI Travel & Transportation Manufacturing and Media space. Happiest Minds Provide a Smart Secure and Connected Experience to its Customers. In the Solution space focus areas are Security M2M and Mobility solutions. The company has posted its Q4FY22 and year ended financial results on 5th May,2022, the details are as below :

(I) Audited Consolidated Financial Results for Quarter Ended (YoY comparison):

The company has reported, a consolidated Total Income of ₹310.48 crore in the quarter ended on March 31, 2022 as against ₹223.74 crore in the corresponding quarter ended last year on Mar 31, 2021, increased by 38.77%.

The company has posted a consolidated Net Profit of ₹52.11 crore in the quarter ended on March 31, 2022 as against ₹36.05 crore in the corresponding quarter ended in last year on Mar 31, 2021. The PAT surges up by 44.55%.

The status of the EPS of the company stood at ₹3.58 as on March 31, 2022 compared to the previous quarter ended on Mar 31, 2021 which was ₹2.48, up by 9.61%.

₹*Mar 31, 2022 (Q4FY22)Dec 31, 21 (Q3FY22)Mar 31, 21 (Q4FY21)
Total Income310.48292.28223.74
Total Expenses240.60226.85174.50
PBT /(Loss)69.8865.4349.24
Total Tax /(credit)17.7716.5113.19
PAT /(Loss) [to the owners]52.1148.9236.05
*figures are in Crores

(II) Audited Consolidated Financial Result details for the Year Ended :

The company has reported, a consolidated Total Income of ₹1,130.75 crore in the financial year ended on March 31, 2022 as against ₹797.65 crore for the financial year ended on Mar 31, 2021, increased by 41.76%.

The company has posted a consolidated Net Profit of ₹181.20 crore in the financial year ended on March 31, 2022 as against ₹162.46 crore for the financial year ended on March 31, 2021. The PAT surges up by 11.74%.

The status of the EPS of the company stood at ₹12.55 as on March 31, 2022 compared to the previous year ended on March 31, 2021 which was ₹11.45, up by 9.61%.

₹*Mar 31, 2022 (FY22)Mar 31, 2021 (FY21)
Total Income1,130.75797.65
Total Expenses878.81611.63
PBT /(Loss)245.85186.02
Total Tax /(credit)64.6523.56
PAT /(Loss)181.20162.46
*figures are in Crores
happiest minds key metrics q4 result 2022

(III) Key Highlights about the Performance :

Financial highlights for Q4FY22 ended March 31, 2022

  • Operating Revenues in US$ terms stood at $39.9 million (growth of 5.5% q-o-q; 31.9% y-o-y)
  • EBITDA of ₹ 8,158 lakhs, 26.3% of Total Income (growth of 6.1% q-o-q; 39.0% y-o-y)
  • Free cash flows of ₹ 8,106 lakhs

FY22 year ended March 31, 2022

  • Operating Revenues in US$ terms stood at $146.6 million (growth of 40.2% y-o-y)
  • EBITDA of ₹ 29,477 lakhs, 26.1% of Total Income (growth of 36.9% y-o-y)
  • Free cash flows of ₹ 29,064 lakhs
  • RoCE & RoE of 39.8% and 27.3% for the year respectively

Key Project Wins:
• For an EU multinational manufacturing company, Happiest Minds has taken ownership of building their Test Automation Framework & Develops projects
• For a large US fashion retailer, Happiest Minds was chosen as their application security services partner
• For a Fortune 100 American multinational technology conglomerate, Happiest Minds was awarded the project for data centre automation
• For one of the largest passenger vehicle manufacturers in India, Happiest Minds was selected as the partner of choice for their digital initiatives
• For a US supply chain company, Happiest Minds was chosen as their Digital partner for their Product Development work
• For a leading digital housing solution provider in Nordics, Happiest Minds was chosen as their Digital partner for building its cloud-native customer journey platform

The stock of Happiest Minds Technologies last hit in BSE,

  • Intraday High of ₹ 1023.90
  • Intraday low of ₹ 959.50