Happiest Minds Technologies Ltd. · NSE:HAPPSTMNDS
Happiest Minds Technologies — Q4 FY25 Earnings Presentation
24 slides from Happiest Minds Technologies's earnings presentation, 2025
Slide 1: Investor Presentation Q4 FY25
Investor Presentation Q4 FY 25
Slide 2: Happiest Minds
Happiest Minds Next-Gen Digital Transformation, Infrastructure, Security and Product Engineering Services Company 281 Active Clients 96% Digital 94% Agile 85 Fortune2000 / Forbes200 20.8% RoCE1 Born Digital Born Agile Billion $ Corporations 11.9% RoE 94.3% Repeat Business Mission Statement Great Pla
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 Wins
Key For a US based not-for-profit organization in For an American Insurance broker, Happiest Minds is media and publication, Happiest Minds has been leveraging MS Power Platform to build their Client Data chosen as a strategic partner to build their customer Portal master data management using Pimco
Slide 7: Awards and Recognition
Best DevOps Framework Ranked 2nd in "IT Recognized Recognized among WOW for Scalability and Security Services“ category at the among ‘Inspiring Firms Workplace Award for IT, (IT Services) in 6th Edition ESC Export Excellence in AI & Analytics’ at the ITeS & GCC India DevOps Show 2025 Awards 2025 3AI
Slide 8: Analyst Mentions
Analyst Mentions ‘Product Challenger’ ‘Major Contender’ in ‘Major Contender’ in in ISG Provider Lens Everest Industry 4.0 PEAK Everest Data and AI Study for Digital Matrix 2025 (D&AI) Services for Mid- Engineering Services – market Enterprises PEAK Europe, US Matrix 2025 ‘Innovators and ‘Seasoned Ve
Slide 9: Financial and Operational Metrics Q4 FY25
Financial and Operational Metrics Q4 FY 25 9
Slide 10: Results Q4 & FY 25
Results Q4 & FY 25 All amounts in ₹ Lakhs unless stated otherwise Particulars Q4 FY25 Q3 FY25 QoQ Q4 FY24 YoY FY25 FY24 YoY Note: Revenues ($’000) 62,919 62,719 0.3% 50,077 25.6% 243,570 196,130 24.2% 1 – Operating Margin is EBITDA excluding Growth in CC 1.1% 27.9% 25.6% other income 2 - Amortizatio
Slide 11: Revenues
Revenues % of Revenue % of Revenue Digital Agile 96.8% 97.4% 97.3% 95.2% 94.9% 96.4% 95.9% 96.3% 96.1% 94.5% 94.0% 95.0% 93.6% 93.7% 93.8% 91.9% FY 23 FY 24 FY 25 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 FY 23 FY 24 FY 25 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Business Unit 216,222 Total Income (₹ Lakhs) 2.1% 4.5% 15.6
Slide 12: Profitability
Profitability EBITDA Operating Margin (₹ Lakhs) Margin (₹ Lakhs) Margin 35,749 46,224 34,453 34,044 42,122 37,997 26.2% 24.6% 21.4% 11,671 11,882 11,686 10,984 24.1% 21.0% 17.3% 8,444 9,196 9,352 9,264 10,822 7,937 24.5% 23.9% 21.7% 21.1% 19.3% 20.2% 19.8% 17.9% 17.5% 14.6% FY 23 FY 24 FY 25 Q4 24 Q
Slide 13: Operational Metrics
Operational Metrics Happiest Minds & Utilization 78.5% 77.3% 75.1% 78.2% 76.3% 78.0% 77.4% 75.5% 6,632 6,599 6,580 6,630 6,632 4,917 5,168 5,168 FY 23 FY 24 FY 25 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Offshore / Onsite By Number of Employees Voluntary Attrition % 1 19.8% 16.6% 16.6% 95.4% 95.9% 94.2% 95.9%
Slide 14: Financial Metrics
Financial Metrics Model Geography 8.7% 6.8% 24.7% 7.3% 14.9% 62.3% 75.3% Americas India Europe APAC ROW T&M FP Digital Revenue Verticals 2.6% 0.6% 6.8% 5.0% 2.8% 8.5% 26.5% 11.1% 8.7% 7.6% 52.5% 13.5% 17.0% 21.1% 15.6% Digital Infra / Cloud SAAS Security Analytics / AI IoT Others BFSI Edu Tech Healt
Slide 15: Financial Metrics
Financial Metrics Revenue Concentration Customer Cohort Analysis 54.3% 0-5 yrs > 5 yrs 38.5% 44% 53% 48% 24.4% 8.2% 47% 52% 56% Top 1 Top 5 Top 10 Top 20 FY 23 FY 24 FY 25 Million $ Customers2 Active Customers 281 279 281 281 278 57 58 59 57 56 48 48 43 250 250 237 FY 23 FY 24 FY 25 Q4 24 Q1 25 Q2 2
Slide 16: Operational & Financial Metrics
Operational & Financial Metrics Onsite/Offshore Average Revenue / Active Customer (USD ‘000) 917 917 898 840 842 803 794 794 84.8% 85.6% 88.4% 87.2% 88.6% 88.0% 88.6% 89.2% 15.2% 14.4% 11.6% 12.8% 11.4% 12.0% 11.4% 10.8% FY 23 FY 24 FY 25 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 FY 23 FY 24 FY 25 Q4 24 Q1 25 Q
Slide 17: Financial & Operational – Data Sheet
Financial & Operational – Data Sheet % of Revenues FY 23 FY24 Q4 FY 24 FY25 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY 25 Verticals BFSI 12.2% 11.4% 10.9% 16.8% 22.5% 23.6% 26.5% 22.5% Edutech 23.2% 22.3% 23.9% 21.5% 19.3% 17.4% 17.0% 18.7% Healthcare - 16.1% 14.4% 16.4% 16.4% 16.4% 15.6% 16.3% Hitech 16.9% 14.7
Slide 18: Financial & Operational – Data Sheet
Financial & Operational – Data Sheet FY 23 FY24 Q4 FY 24 FY25 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY 25 Revenue by Geo USA 68.1% 69.0% 70.7% 66.5% 65.2% 64.7% 62.3% 64.6% India 15.6% 17.7% 16.3% 16.9% 15.1% 15.5% 14.9% 15.6% Europe 9.7% 9.0% 8.9% 8.7% 8.5% 8.0% 7.3% 8.1% 3 APAC - - - 2.4% 5.6% 5.9% 6.8% 5.3%
Slide 19: Financial & Operational – Data Sheet
Financial & Operational – Data Sheet FY 23 FY24 Q4 FY 24 FY25 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY 25 Happiest Minds Onsite 227 211 211 279 274 284 385 385 Offshore 4,690 4,957 4,957 6,320 6,306 6,346 6,247 6,247 Onsite % 4.6% 4.1% 4.1% 4.2% 4.2% 4.3% 5.8% 5.8% Offshore % 95.4% 95.9% 95.9% 95.8% 95.8% 95.7
Slide 20: Financial & Operational – Data Sheet
Financial & Operational – Data Sheet All figures in ₹ Lakhs FY 23 FY24 Q4 FY 24 FY25 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY 25 Revenue by BU IMSS 30,694 21.2% 7,551 17.1% 29,746 17.4% 7,992 16.3% 7,876 14.4% 8,045 14.5% 8,919 16.1% 32,832 15.2% PDES 112,236 77.4% 34,178 77.2% 132,719 77.6% 37,677 77.0% 43,44
Slide 21: Profit & Loss Statement
Profit & Loss Statement All figures in ₹ Lakhs FY 23 FY24 Q4 FY 24 FY25 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY 25 Income Operating revenue 142,929 41,729 162,466 46,382 52,164 53,081 54,457 206,084 Other Income 2,111 2,521 8,537 2,544 2,702 2,296 2,595 10,137 Total income 145,040 44,250 171,003 48,926 54,867
Slide 22: Condensed Balance Sheet
Condensed Balance Sheet All figures in ₹ Lakhs FY 2023 Q3 FY24 FY 2024 Q1 FY25 Q2 FY25 Q3 FY25 FY 2025 Assets Non-Current Assets Property, plant and equipment 13,278 13,856 13,778 14,062 13,978 13,894 14,096 Goodwill 13,913 14,013 14,032 70,773 75,329 75,891 76,230 Financial & Other assets 29,594 36
Slide 23: Key Ratios
Key Ratios FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 FY25 Additional Balance Sheet Ratios Debt-Equity 0.35 0.90 0.82 0.83 0.79 0.79 Debt Service Coverage (DSCR) 5.25 7.73 6.68 7.03 5.81 6.31 Interest Service Coverage (ISCR) 8.97 4.93 3.65 3.82 3.63 3.94 Current Assets to Current Liabilities 3.14 1.37 1.3
Slide 24: Thank You
Thank You Happiest People · Happiest Customers India | United States | United Kingdom | Canada | Australia | Dubai | Oman www.happiestminds.com 24
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