How did Happiest Minds Technologies perform in Q4 FY22?
Answer
Answer
Happiest Minds, the latest venture of Ashok Soota, reported 36.18% higher sales revenues for Mar-22 quarter at Rs300.57 crore. FY22 full year revenues were higher by 41.5% at Rs1,094 crore. In terms of vertical performance, the sales revenues from infrastructure management services (IMSS) grew 53% at Rs68.48 crore and 25% for the digital business solutions (DBS) at Rs87.6 crore. However, revenues from product engineering services (PES) were up 36.4% at Rs.144.47 crore. Business traction is expected to improve next quarter.
Happiest Minds
Rs in Crore
Mar-22
Mar-21
YOY
Dec-21
QOQ
Total Income (Rs cr)
₹ 300.57
₹ 220.71
36.18%
₹ 283.94
5.86%
Net Profit (Rs cr)
₹ 52.11
₹ 36.05
44.55%
₹ 48.92
6.52%
Diluted EPS (Rs)
₹ 3.58
₹ 2.48
₹ 3.38
Net Margins
17.34%
16.33%
17.23%
Net profits for fourth quarter was up 44.55% at Rs52.11 crore. In terms of operating performance, the IMSS business saw 68% growth at Rs17.39 crore while EBIT from PES business grew by 37% at Rs59.29 crore. The digital business vertical saw operating profits fall yoy. Net margins were 17.34% in Mar-22 quarter compared to 16.33% in Mar-21 quarter. The board has recommended final dividend of Rs.2 per share for FY22.