Happiest Minds - Agile Growth Aided By Robust Digital Services Portfolio: Axis Securities Initiates Coverage

Axis Securities Report

We initiate coverage on Happiest Minds Technologies Ltd. with a 'Buy' rating and target price of Rs 1,100/share, implying an upside of 22% from the current market price.

We believe Happiest Minds Technologies Ltd. will deliver strong compound annual growth rate revenue growth of 18% over FY24-FY26 with accelerated earnings per share growth of 22% CAGR over FY24-FY26 primarily driven by strong volume growth.

We further believe that Happiest Minds is well-positioned to capture the immense growth opportunity in the industry considering-

1. robust demand for product engineering and digital services spend,

2. focus on client retention for long-term sustainable growth,

3. margin tailwinds driven by cost efficiencies, lower input costs, rupee depreciation, and lower travel cost (on-site expenses).

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.