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Values in Rs. in  Crores

Happiest Minds Technologies Sep 23 Year on Year Revenue Surge by 14.4% to Rs.407 Crore and Year on Year Profit slides by 1.6% to Rs.58 Crore. Quarter to Quarter Revenue Surge by 4.0% and Q to Q Profit nearly maintains same by 0.2%

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Revenue Analysis:

Happiest Minds Technologies, has reported a revenue of Rs. 407 Crore, which has soars by 4.0% as compared to previous quarter revenue of Rs. 391 Crore. As compared to revenue of September-22, there is a grown by 14.4% from Rs. 356 Crore. to Rs. 407 Crore.


Market Expectations V/s Actual

The Market Estimate of the Revenue was Rs.425 Crore . Company's reported Revenue of Rs. 407 is fairly in line with expectations.


Segment Revenue and Analysis

The Major Segments have been, DBS ,IMSS and PES. The share of each major segments are DBS : 117 Crore [28.7%] ,IMSS : 74 Crore [18.2%] and PES : 216 Crore [53.1%].


Profit and Cost Analysis as Compared to Previous June'23 Quarter Results:

Quarterly Profit has slip by 1.6% to Rs.58 Crore from Rs. 59 Crore, when compared with year ago quarter results. In comparison with preceding quarter of June, 2023 , quarter profit has nearly remains regular by 0.2% to Rs.58 Crore from Rs. 58 Crore. Net Profit % of the Company has remained at 14.4% compared to 14.9% in previous quarter and 16.7% in year ago quarter.

On analysis, it is observed that this Quarter's EBITDA (Operating Profit) Margin has shrinks to 20.3% from 22.9% as compared with June, 2023 quarter. The reason for the dwindle of EBITDA Margin is due to,

b) Employee Cost has soars to 62.7% (Previous Quarter: 60.2%). Employee Cost in exact value has crosses from Rs. 235 Crore to 255 Crore.

c) Other Expenses has nearly maintains to 16.9% (Previous Quarter: 16.9%). Other Expenses zooms from Rs. 66 Crore to 69 Crore.

The finance cost has soars from Rs. 10.07 Crore to 11.15 Crore by 10.7%.


Key Matrix:

Price to Earning (PE) ratio of the company is 53.5 as compared to the Industry PE of 40.31. High PE signifies that there can be scope of correction in prices in future, unless market estimates high growth in the company. Companies Return on Equity (ROE) is 16.6% and Return of Capital Employed (ROCE) is 19.2%.


Share Price Movement:

The Return on Share Prices were -7.5% in past one month, -8.7% in 3 months, 7.9% in 6 months, -13.0% in 12 months, -39.2% in 24 months.


Summary:

To summarize, as compared to June'23, Revenue has soars by 4.0%.. EBITDA Margin has shrinks to 20.3% from 22.9%. and Net Profit After Tax Margin has nearly remains regular to 14.4% from 14.9%.

The Brief of Quarterly Results is as follows:

Happiest Minds Technologies Limited

Particulars (In Cr.)
Sep, 2023
Jun, 2023
Mar, 2023
Dec, 2022
Revenue
406.6
390.9
378
366.9
Cost of Goods Sold
0
0
0
0
Employee Cost
255.1
235.4
221.1
208.8
Other Expenses
68.9
66.1
64.7
68.6
EBITDA
82.6
89.3
92.2
89.5
Depreciation
14.6
14.2
12.9
9.9
Interest Expense
11.2
10.1
8.8
5.8
Other Income
22.2
13.7
8.5
7.8
Profit B4 Excep. Items
79.1
78.7
78.9
81.6
Exception Items
0
0
0
6.3
Net Profit Before Tax
79.1
78.7
78.9
75.2
Taxes
20.7
20.4
21.3
17.7
Net Profit After Tax
58.5
58.3
57.7
57.6
Gross Margin %
0
0
0
0
Employee Cost %
62.70%
60.20%
58.50%
56.90%
Other Expense Cost %
16.90%
16.90%
17.10%
18.70%
EBITDA %
20.30%
22.90%
24.40%
24.40%
Net Profit After Tax %
14.40%
14.90%
15.30%
15.70%

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