HAPPSTMNDS
Happiest Minds Technologies Limited
If management delivers what it guided
arithmetic on filed guidance and past valuations · not a price target
HAPPSTMNDS
FY26 → FY27 · 1 year of guidance · ~0.7 years from today₹377 today
BEAR
₹542
+44%
7.2% a year · 36.2x exit
BASE
₹767
+103%
12.5% a year · 48.8x exit
BULL
₹863
+129%
17% a year · 52.9x exit
Where the market has priced it
28x27x today — outside the range88x
- FY27 one quarter filed — the pace is shown, not judged: guided +12.5%, filed +14.4% across 1 quarter(s)
- at 27x its FY26 earnings the stock trades below the bottom of its own ten-year range (36x)
- this company's own median multiple sits 93% above its filed-industry peers; the scenario uses its own
How these numbers are produced
| Earnings base | FY26 fiscal year EPS ₹14 (screener) |
|---|---|
| Guided growth | 12.5% a year, said on the call of 30-Jul-2026 · transcript |
| Read across as | operating: revenue growth, margin held flat — medium confidence |
| Delivery calibration | 0.58x / 1x / 1.36x of what was guided — measured: 76 annual guided-vs-filed pairs + 77 near-complete quarterly years — NSE transcripts against the companies' own filings |
| Exit multiple | 36.24x / 48.83x / 52.87x, this company’s own p20 / median / p80 across 6 filed years |
| Filed-industry peers | median 25.35x across 4 peers — the cross-check, not the input |
| Arithmetic | base EPS × (1 + guided growth × delivery)1 × exit multiple |
Arithmetic on management’s own guidance and this company’s own past valuations. Not a price target, not a recommendation, and not a forecast of what the stock will do.
What management said
from NSE earnings-call filings · extracted, not interpreted
ebitda margin 21.7%margin 21.7%revenue growth 12.5%
We also maintained a healthy EBITDA margin of 21.7% while continuing to invest meaningfully in AI capabilities, enterprise platforms, talent, and go-to-market initiatives that will support our long-term growth.
Call 30-Jul-2026 · bridge confidence medium · transcript PDF
Pace against its own guidance
FY27
one quarter filed — the pace is shown, not judged
guided 12.5%
filed 14.4%
1 of 4 quarters