Slide 1: Investor Presentation Q2 FY25
Investor Presentation Q2 FY 25
Slide 2: About Happiest Minds
About Happiest Minds Next-Gen Digital Transformation, Infrastructure, Security and Product Engineering Services Company 281 Active Clients 97% Digital 95% Agile 82 Fortune2000 / Forbes200 23.1% RoCE1 Born Digital Born Agile Billion $ Corporations 13.5% RoE 95% Repeat Business Mission Statement Happi
Slide 3: Mission, Vision and Values
Mission, Vision and Values Our 2021-31 Vision - DELiGHT Our SMILES Values Sharing Design for Perpetuity ESG Excellence Mindful Our Mission Integrity Thought Leadership Happiest People Happiest Customers Learning Profitable Growth Ambassador for Happiness Excellence World Class Team Social Responsibi
Slide 4: Our Business
Our Business IoT Blockchain DevOps & Product & Digital Cloud RPA Engineering Services Generative AI Business Services Software Defined BPM & Networking / NFV Agile and Secure Integration Infrastructure Services Big Data & Advanced Security Analytics Industry Groups (IG) Industrial, Manufacturing and
Slide 5: Born Digital. Born Agile The Mindful IT Company
Born Digital . Born Agile The Mindful IT Company CREATING MINDFULLY DIGITAL CAPITAL AGILE Business Agile Organization Transformation Business Agile Insights Business Platformize & Agile Modernize Delivery Reimagining Engineering & Operational Excellence Customer Experience www.happiestminds.com 5
Slide 6: Key Project Wins
Key Project Wins For a USA-based energy tech company, this new win entails For a European Health Research Institute, Happiest Minds is Happiest Minds providing consulting-led solution to develop building their AI/ML data platform. their unified IoT platform for the combined heat and power solution.
Slide 7: Awards
Awards ‘Top 100 India’s Best ‘Best Organizational ‘WAW – Wellbeing at ‘Gold for Talent Workplaces for Women Development & Workplaces Award 2024’ at Acquisition and Silver for 2024’ by Great Place To Work® Transformation Initiative’ the HR Anexi Conclave Future of Work’ at the at the Future of L&D Br
Slide 8: Analyst Mentions
Analyst Mentions ZINNOV ZINNOV ZINNOV ZINNOV ZONES ZONES ZONES ZONES ‘Established & ‘Leadership Zone ‘Leadership Zone’ in ‘Leadership Zone’ in Expansive’ in Digital & Recognized as a Enterprise Software Software Platform Engineering and ER&D Noteworthy 2024 Engineering Services Player’ in the Consum
Slide 9: Operational and Financial Metrics
Operational and Financial Metrics Q2 FY 25 9
Slide 10: Results Q2 FY25
Results Q2 FY 25 All amounts in ₹ Lakhs unless stated otherwise Particulars Q2 FY25 Q1 FY25 QoQ Q2 FY24 YoY HY25 HY24 YoY Revenues 52,164 46,382 12.5% 40,662 28.3% 98,546 79,749 23.6% Other Income 2,702 2,544 2,221 5,246 3,587 Total Income 54,867 48,926 12.1% 42,883 27.9% 103,793 83,336 24.5% EBITDA
Slide 11: Born Digital. Born Agile
Born Digital . Born Agile % of Revenue Digital Agile % of Revenue 95.2% 97.4% 97.3% 94.9% 96.8% 94.5% 96.5% 94.4% 96.4% 94.3% 96.2% 94.0% 95.9% 93.6% 95.3% 93.4% FY 22 FY 23 FY 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 FY 22 FY 23 FY 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Revenue by Business Unit 4.9% Total Income
Slide 12: Operational & Financial Metrics
Operational & Financial Metrics EBITDA (₹ Lakhs) Margin High FCF Conversion (₹ Lakhs) 42,122 41,067 37,997 36,480 29,477 29,064 11,671 11,882 11,569 11,612 10,482 10,519 10,822 10,296 10,744 26.1% 26.2% 24.6% 98.6% 96.0% 97.5% 9,894 98.2% 94.1% 99.3% 99.1% 97.7% 24.4% 24.2% 24.5% 23.9% 21.7% FY 22 F
Slide 13: Operational & Financial Metrics
Operational & Financial Metrics Happiest Minds & Utilization 80.5% 76.7% 78.2% 76.3% 78.5% 75.5% 75.6% 75.1% 6,599 6,580 4,917 5,168 5,285 5,246 5,168 4,168 FY 22 FY 23 FY 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Offshore / Onsite By Number of Employees Voluntary Attrition % 1 22.7% 19.8% 95.9% 95.4% 95.9%
Slide 14: Operational & Financial Metrics
Operational & Financial Metrics Revenue Model Q2 25 Model Geography Digital Revenue Verticals1 5.6% 3.2% 2.7% 3.0% 0.6% 7.2% 5.6% 11.1% 22.5% 21.7% 8.6% 15.0% 6.6% 52.6% 16.4% 8.5% 65.3% 19.3% 78.3% 23.8% 8.1% 14.3% Digital Infra / Cloud SAAS Edu Tech HiTech (others) Retail / CPG T&M FP Americas Eur
Slide 15: Operational & Financial Metrics
Operational & Financial Metrics Onsite/Offshore Average Revenue / Active Customer (USD ‘000) 840 842 803 804 808 794 794 774 84.5% 84.8% 85.6% 85.1% 86.2% 87.2% 88.6% 88.6% 15.5% 15.2% 14.4% 14.9% 13.8% 12.8% 11.4% 11.4% FY 22 FY 23 FY 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 FY 22 FY 23 FY 24 Q2 24 Q3 24 Q
Slide 16: Operational & Financial Metrics
Operational & Financial Metrics FY 22 FY 23 FY24 Q2 FY24 Q3 FY24 Q4 FY 24 FY25 Q1 FY25 Q2 Verticals BFSI 13.2% 12.2% 10.3% 10.9% 11.4% 10.9% 16.8% 22.5% Edutech 23.2% 23.2% 25.0% 24.0% 22.3% 23.9% 21.5% 19.3% Healthcare* - - 13.8% 14.8% 16.1% 14.4% 16.4% 16.4% Hitech 15.8% 16.9% 14.2% 14.3% 14.7% 14
Slide 17: Operational & Financial Metrics
Operational & Financial Metrics FY 22 FY 23 FY24 Q2 FY24 Q3 FY24 Q4 FY 24 FY25 Q1 FY25 Q2 Revenue by Geo USA 66.4% 68.1% 71.5% 70.3% 69.0% 70.7% 66.5% 65.3% India 14.1% 15.6% 15.7% 16.4% 17.7% 16.3% 16.9% 15.0% Europe 10.4% 9.7% 9.0% 9.0% 9.0% 8.9% 8.7% 8.5% 3 APAC - - - - - - 2.4% 5.6% ROW 9.0% 6.6
Slide 18: Operational & Financial Metrics
Operational & Financial Metrics FY 22 FY 23 FY24 Q2 FY24 Q3 FY24 Q4 FY 24 FY25 Q1 FY25 Q2 Happiest Minds Onsite 172 227 231 224 211 211 279 274 Offshore 3,996 4,690 5,054 5,022 4,957 4,957 6,320 6,306 Onsite % 4.1% 4.6% 4.4% 4.3% 4.1% 4.1% 6.2% 4.2% Offshore % 95.9% 95.4% 95.6% 95.7% 95.9% 95.9% 93.
Slide 19: Operational & Financial Metrics
Operational & Financial Metrics All figures in ₹ Lakhs FY 22 FY 23 FY24 Q2 FY 24 Q3 FY24 Q4 FY 24 FY25 Q1 FY25 Q2 Revenue by BU IMSS 24,168 21.4% 30,694 21.2% 7,381 17.2% 7,299 16.8% 7,551 17.1% 29,746 17.4% 7,992 16.3% 7,876 14.4% PDES 85,199 75.4% 112,236 77.4% 33,281 77.6% 33,689 77.6% 34,178 77.
Slide 20: Profit & Loss Statement
Profit & Loss Statement All figures in ₹ Lakhs FY 22 FY 23 FY24 Q2 FY24 Q3 FY24 Q4 FY 24 FY25 Q1 FY25 Q2 Income Operating revenue 109,365 142,929 40,662 40,988 41,729 162,466 46,382 52,164 Other Income 3,710 2,111 2,221 2,429 2,521 8,537 2,544 2,702 Total income 113,075 145,040 42,883 43,417 44,250
Slide 21: Condensed Balance Sheet
Condensed Balance Sheet All figures in ₹ Lakhs FY 2022 FY 2023 Q2 FY24 Q3 FY24 FY 2024 Q1 FY25 Q2 FY25 Assets Non-current assets Property, plant and equipment 78 13,278 13,386 13,856 13,778 14,062 13,978 Goodwill 7,896 13,913 13,997 14,013 14,032 70,773 75,329 Financial & Other assets 11,788 29,594
Slide 22: Key Ratios
Key Ratios Q2 FY24 FY24 Q1 FY25 Q2 FY25 Additional Balance Sheet Ratios Debt-Equity ratio 0.38 0.35 0.90 0.82 Debt Service Coverage ratio (DSCR) 5.00 5.25 7.39 6.68 Interest Service Coverage ratio (ISCR) 8.50 8.97 4.93 3.65 Current ratio 2.69 3.14 1.24 1.36 Long-term Debt to Working Capital ratio 0.
Slide 23: Global Presence
Global Presence Headquarters – Bengaluru India | USA & Canada | Europe & UK | UAE | Australia www.happiestminds.com 23
Slide 24: Thank You
Thank You Happiest People · Happiest Customers India | United States | United Kingdom | Canada | Australia | Dubai www.happiestminds.com 24