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INTEGRATED
ANNUAL REPORT 2023-24

annual-report-2024

View Detailed Annual Report

Happiest Minds Technologies Limited

CIN of the Co. L72900KA2011PLC057931

From the desk of our Leaders

ASHOK SOOTA JOSEPH ANANTHARAJU VENKATRAMAN NARAYANAN
Ashok Soota

Note from the Executive Chairman

Happiest Minds has delivered our best growth results since the last two years with 12.7% QoQ growth and 28.2% YoY growth. The transformational changes we initiated this year are all gathering momentum. These changes include the acquisition of PureSoftware and Aureus, the creation of our GenAI Business Unit (GBS), hiring a senior leader to expand net new (NN Sales), and creating six Industry Groups, each headed by an Industry Manager. The full impact of all these changes on revenue and growth will become visible in the quarters ahead.

Ashok Soota

Executive Chairman

Joseph Anantharaju

Note from the Executive Vice Chairman & CEO – Product and Digital Engineering Services (PDES)

The results demonstrate Happiest Minds’ commitment to its customers and be the partner of choice in their strategic imperatives. Backed by our strong capabilities in Data, AI, GenAI, Automation, IoT and Cyber Security, the quarter was marked by solid new wins and expanding our base into existing client relationships through our strong account mining practices.

Joseph Anantharaju

Executive Vice Chairman & CEO – Product and Digital Engineering Services (PDES)

Venkatraman Narayanan

Note from the MD & CFO

We are pleased about our growth in revenues and profits in the first half of FY25. Total income has grown by ₹205 crores, EBITDA by ₹28 crores and Operating Margins by ₹12 crores. Revenue growth of 28.2% in constant currency and EBITDA margin of 22.7% compare well with our guidance range of 30% to 35% and 20% to 22%, respectively. Our growth in margins is after counting for significant investments in our Gen AI business unit and higher than comparable company compensation increases for our people.

Venkatraman Narayanan

MD & CFO

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KFin Technologies Ltd.

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Selenium Tower B, Plot 31-32, Gachibowli,
Financial District, Nanakramguda, Hyderabad- 500 032

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Mr. Praveen Kumar Darshankar

Company Secretary and Compliance Officer

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Mr. Sunil Gujjar

Head of Investor Relations | Corporate Development

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Mr. Venkatraman

MD & CFO

Mr. Praveen Kumar Darshankar

Company Secretary and Compliance Officer

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