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Nirmal Bang Report
Happiest Minds Technologies Ltd. has demonstrated its strong capabilities in digital business with a high aspiration of achieving a compound annual growth rate of ~22% till FY31 along with a superior Ebitda margin profile of ~22-24%.
It has been successful in mining clients by increasing average revenue per active client. Hence, the outlook remains good.
At current market price, the company trades at 50 times trailing twelve months EPS of Rs16.1.
Basis consensus expectations, it trades at a reasonable valuation of 34 times/28 times on FY26E/FY27E EPS of Rs 24/Rs29, respectively.
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