Happiest Minds reports industry leading growth and on track for vision of $1 Bn revenues by 2031
Happiest Minds reports industry leading growth and on track for vision of $1 Bn revenues by 2031 |
[07-May-2024] |
Revenues at US$ 196.1 Mn, grew 11% growth in constant currency; Beats EBITDA guidance at 24.6% Proposes final dividend of ₹ 3.25 per share; total dividend for the year of ₹ 5.75 SAN JOSE, Calif. and LONDON and BENGALURU, India, May 7, 2024 /PRNewswire/ -- Happiest Minds Technologies Limited (NSE: HAPPSTMNDS), a 'Born Digital. Born Agile', digital transformation and IT solutions company, today announced its consolidated results for the fourth quarter and year ended March 31, 2024, as approved by its Board of Directors. Ashok Soota, Executive Chairman, said, "Happiest Minds has demonstrated resilience in achieving our financial objectives for the long term. The newly created Gen AI business unit, creation of six new Industry Groups and successful closure of two acquisitions has put us back on course towards accomplishing our long-term vision of US$ 1Bn in revenues by FY31." Financial highlights Quarter ended March 31, 2024
Year ended March 31, 2024
Venkatraman Narayanan, MD & CFO, said "Happy to report a full year revenue growth in constant currency of 11% and EBITDA of 24.6%. I am proud of our performance especially in the face of a challenging year faced by our industry. Acquisition of PureSoftware Technologies and Macmillan Learning should help us in our growth story while delivering value to all our stakeholders." Joseph Anantharaju, Executive Vice Chairman, said, "We have onboarded ten new customers and have built up a good sales pipeline for FY25. This, along with the cross-selling opportunities afforded by our acquisitions, we are well positioned for a rewarding FY25. Our Customer Happiness Survey this year has yielded excellent and best net promoter scores, validating our compelling customer value proposition and quality execution." Clients:
Our People - Happiest Minds:
Q4 FY24 Key wins
Award Wins:
Analyst Mentions
Announcements
For further details please refer to the Investors presentation hosted on the company website – – Investors section About Happiest Minds Technologies: Happiest Minds Technologies Limited (NSE: HAPPSTMNDS), a Mindful IT Company, enables digital transformation for enterprises and technology providers by delivering seamless customer experiences, business efficiency and actionable insights. We do this by leveraging a spectrum of disruptive technologies such as: artificial intelligence, blockchain, cloud, digital process automation, internet of things, robotics/drones, security, virtual/augmented reality, etc. Positioned as 'Born Digital . Born Agile', our capabilities span Product & Digital Engineering Services (PDES), Generative AI Business Services (GBS) and Infrastructure Management & Security Services (IMSS). We deliver these services across industry sectors such as automotive, BFSI, consumer packaged goods, e-commerce, EduTech, engineering R&D, healthcare, hi-tech, manufacturing, retail and travel/transportation/hospitality. The company has been recognized for its excellence in Corporate Governance practices by Golden Peacock and ICSI. A Great Place to Work-Certified™ company, Happiest Minds is headquartered in Bangalore, India with operations in the U.S., UK, Canada, Australia and Middle East. Safe harbor This release may contain certain forward-looking statements, which involves risks and uncertainties that could cause our future results to differ materially from those in such forward-looking statements. The COVID-19 pandemic could decrease our customers' technology spend, delaying prospective customers' purchasing decisions, and impact our ability to provide services; all of which could adversely affect our future revenue, margin, and overall financial performance. Our operations could also be negatively impacted by a range of external factors not within our control including those due to the pandemic. We do not undertake to update any of our forward-looking statements that may be made from time to time by us or on our behalf. For more information, contact: Logo: https://mma.prnewswire.com/media/1812236/4024169/Happiest_Minds_Logo.jpg View original content:https://www.prnewswire.com/news-releases/happiest-minds-reports-industry-leading-growth-and-on-track-for-vision-of-1-bn-revenues-by-2031-302137908.html SOURCE Happiest Minds Technologies Limited | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Company Codes: Bombay:HAPPSTMNDS.BO, India:HAPPSTMNDS.NS, Nagoya:HAPPSTMNDS |