Happiest Minds Technologies Ltd. · NSE:HAPPSTMNDS
Happiest Minds Technologies — Q3 FY25 Earnings Presentation
23 slides from Happiest Minds Technologies's earnings presentation, 2025
Slide 1: Investor Presentation Q3 FY25
Investor Presentation Q3 FY 25
Slide 2: About Happiest Minds
About Happiest Minds Next-Gen Digital Transformation, Infrastructure, Security and Product Engineering Services Company 278 Active Clients 96% Digital 94% Agile 85 Fortune2000 / Forbes200 21.8% RoCE1 Born Digital Born Agile Billion $ Corporations 14.0% RoE 95% Repeat Business Mission Statement Great
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 Client Wins
Key For a global technology & service major, Happiest Minds is partnering to implement core banking technology to For a global EV Original Equipment Manufacturer (OEM), streamline operations and enhance client satisfaction, for Happiest Minds was chosen as one of the key partners to build the mortga
Slide 7: Awards and Recognition
Happiest Minds’ Integrated Annual Report Recognized among 2024 Avtar & Seramount Best Top 100 India’s Best Workplaces 2024, ranked #42 globally, wins Gold and Companies for Women in India in IT and Exemplar for IT & IT-BPM 2024 by Great Place Silver Awards at the LACP 2024 Spotlight of Inclusion in
Slide 8: Analyst Mentions
Analyst Mentions EVEREST PEAK Matrix ‘Major Contender’ Everest PEAK Matrix Everest PEAK Matrix Digital Workplace Services PEAK Matrix® ‘Major Contender’ ‘Major Contender’ Assessment 2024: Mid- Microsoft Azure Services AWS Services market Enterprises
Slide 9: Operational and Financial Metrics
Operational and Financial Metrics Q3 FY 25 9
Slide 10: Results Q3 FY25
Results Q3 FY 25 All amounts in ₹ Lakhs unless stated otherwise Particulars Q3 FY25 Q2 FY25 QoQ Q3 FY24 YoY 9M FY25 9M FY24 YoY Revenues ($’000) 62,719 62,385 0.5% 49,366 27.0% 180,651 146,053 23.7% Growth in CC 0.8% 28.2% 24.8% Revenues 53,081 52,164 1.8% 40,988 29.5% 151,627 120,737 25.6% Other In
Slide 11: Born Digital. Born Agile
Born Digital . Born Agile % of Revenue Digital Agile % of Revenue 97.4% 97.3% 95.2% 94.9% 96.8% 94.5% 94.4% 96.5% 96.4% 94.0% 96.2% 96.1% 93.8% 95.9% 93.6% 93.4% FY 22 FY 23 FY 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 FY 22 FY 23 FY 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Revenue by Business Unit 4.1% Total Income
Slide 12: Operational & Financial Metrics
Operational & Financial Metrics EBITDA (₹ Lakhs) Margin High FCF Conversion (₹ Lakhs) 41,067 42,122 37,997 36,480 29,064 29,477 26.1% 26.2% 24.6% 11,671 11,882 11,686 11,569 11,612 11,180 10,519 10,822 10,744 98.6% 96.0% 97.5% 9,894 24.2% 24.5% 23.9% 21.7% 21.1% 94.1% 99.3% 99.1% 97.7% 95.7% FY 22 F
Slide 13: Operational & Financial Metrics
Operational & Financial Metrics Happiest Minds & Utilization 80.5% 78.2% 78.0% 78.5% 76.7% 76.3% 75.5% 75.1% 6,599 6,580 6,630 4,917 5,168 5,246 5,168 4,168 FY 22 FY 23 FY 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 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 Q3 25 Model Geography Digital Revenue Verticals1 6.0% 2.8%3.9% 3.2% 0.5% 5.9% 6.7% 23.2% 10.9% 23.6% 8.0% 8.4% 7.1% 8.4% 51.8% 15.5% 64.7% 76.8% 17.4% 23.6% 15.4% 16.4% T&M FP Digital Infra / Cloud SAAS BFSI Edu Tech Healthcare Americas Europe India Secu
Slide 15: Operational & Financial Metrics
Operational & Financial Metrics Onsite/Offshore Average Revenue / Active Customer (USD ‘000) 898 840 842 803 808 794 794 774 84.5% 84.8% 85.6% 86.2% 87.2% 88.6% 88.6% 89.2% 15.5% 15.2% 14.4% 13.8% 12.8% 11.4% 11.4% 10.8% FY 22 FY 23 FY 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 FY 22 FY 23 FY 24 Q3 24 Q4 24 Q
Slide 16: Operational & Financial Metrics
Operational & Financial Metrics FY 22 FY 23 FY24 Q3 FY24 Q4 FY 24 FY25 Q1 FY25 Q2 FY25 Q3 Verticals BFSI 13.2% 12.2% 10.9% 11.4% 10.9% 16.8% 22.5% 23.6% Edutech 23.2% 23.2% 24.0% 22.3% 23.9% 21.5% 19.3% 17.4% Healthcare - - 14.8% 16.1% 14.4% 16.4% 16.4% 16.4% Hitech 15.8% 16.9% 14.3% 14.7% 14.5% 14.
Slide 17: Operational & Financial Metrics
Operational & Financial Metrics FY 22 FY 23 FY24 Q3 FY24 Q4 FY 24 FY25 Q1 FY25 Q2 FY25 Q3 Revenue by Geo USA 66.4% 68.1% 70.3% 69.0% 70.7% 66.5% 65.2% 64.7% India 14.1% 15.6% 16.4% 17.7% 16.3% 16.9% 15.1% 15.5% Europe 10.4% 9.7% 9.0% 9.0% 8.9% 8.7% 8.5% 8.0% 3 APAC - - - - - 2.4% 5.6% 5.9% ROW 9.0%
Slide 18: Operational & Financial Metrics
Operational & Financial Metrics FY 22 FY 23 FY24 Q3 FY24 Q4 FY 24 FY25 Q1 FY25 Q2 FY25 Q3 Happiest Minds Onsite 172 227 224 211 211 279 274 284 Offshore 3,996 4,690 5,022 4,957 4,957 6,320 6,306 6,346 Onsite % 4.1% 4.6% 4.3% 4.1% 4.1% 4.2% 4.2% 4.3% Offshore % 95.9% 95.4% 95.7% 95.9% 95.9% 95.8% 95.
Slide 19: Operational & Financial Metrics
Operational & Financial Metrics All figures in ₹ Lakhs FY 22 FY 23 FY 24 Q3 FY24 Q4 FY 24 FY25 Q1 FY25 Q2 FY25 Q3 Revenue by BU IMSS 24,168 21.4% 30,694 21.2% 7,299 16.8% 7,551 17.1% 29,746 17.4% 7,992 16.3% 7,876 14.4% 8,045 14.5% PDES 85,199 75.4% 112,236 77.4% 33,689 77.6% 34,178 77.2% 132,719 77
Slide 20: Profit & Loss Statement
Profit & Loss Statement All figures in ₹ Lakhs FY 22 FY 23 FY24 Q3 FY24 Q4 FY 24 FY25 Q1 FY25 Q2 FY25 Q3 Income Operating revenue 109,365 142,929 40,988 41,729 162,466 46,382 52,164 53,081 Other Income 3,710 2,111 2,429 2,521 8,537 2,544 2,702 2,296 Total income 113,075 145,040 43,417 44,250 171,003
Slide 21: Condensed Balance Sheet
Condensed Balance Sheet All figures in ₹ Lakhs FY 2022 FY 2023 Q3 FY24 FY 2024 Q1 FY25 Q2 FY25 Q3 FY25 Assets Non-current assets Property, plant and equipment 78 13,278 13,856 13,778 14,062 13,978 13,894 Goodwill 7,896 13,913 14,013 14,032 70,773 75,329 75,891 Financial & Other assets 11,788 29,594
Slide 22: Key Ratios
Key Ratios Q3 FY24 FY24 Q2 FY25 Q3 FY25 Additional Balance Sheet Ratios Debt-Equity 0.37 0.35 0.82 0.83 Debt Service Coverage (DSCR) 4.96 5.25 6.68 7.03 Interest Service Coverage (ISCR) 8.89 8.97 3.65 3.82 Current Assets to Current Liabilities 2.64 3.14 1.37 1.39 Long-term Debt to Working Capital 0.
Slide 23: Thank You
Thank You Happiest People · Happiest Customers India | United States | United Kingdom | Canada | Australia | Dubai www.happiestminds.com 23
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