Happiest Minds Technologies Ltd
NSE:HAPPSTMNDS

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Happiest Minds Technologies Ltd
NSE:HAPPSTMNDS
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Price: 362.8 INR -3.01% Market Closed
Market Cap: ₹54.5B

EV/EBITDA

11.1
Current
64%
Cheaper
vs 3-y average of 31.1

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
11.1
=
Enterprise Value
₹42.1B
/
EBITDA
₹3.8B

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
11.1
=
Enterprise Value
₹42.1B
/
EBITDA
₹3.8B

Valuation Scenarios

Happiest Minds Technologies Ltd is trading below its 3-year average

If EV/EBITDA returns to its 3-Year Average (31.1), the stock would be worth ₹1 016.55 (180% upside from current price).

Statistics
Positive Scenarios
4/4
Maximum Downside
No Downside Scenarios
Maximum Upside
+216%
Average Upside
126%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 11.1 ₹362.8
0%
3-Year Average 31.1 ₹1 016.55
+180%
5-Year Average 35 ₹1 145.46
+216%
Industry Average 16.6 ₹543.42
+50%
Country Average 17.7 ₹578.13
+59%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
₹42.1B
/
Jan 2026
₹3.8B
=
11.1
Current
₹42.1B
/
Mar 2026
₹4.3B
=
9.9
Forward
₹42.1B
/
Mar 2027
₹5B
=
8.4
Forward
₹42.1B
/
Mar 2028
₹5.8B
=
7.2
Forward

Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
IN
Happiest Minds Technologies Ltd
NSE:HAPPSTMNDS
56.2B INR 11.1 29.4
US
International Business Machines Corp
NYSE:IBM
217.6B USD 16.2 20.2
JP
BrainPad Inc
TSE:3655
20.9T JPY 37.9 551.4
IE
Accenture PLC
NYSE:ACN
109.7B USD 7.6 14.3
IN
Tata Consultancy Services Ltd
NSE:TCS
9.1T INR 11.6 18
IN
Infosys Ltd
NSE:INFY
5T INR 10.9 16.7
JP
Fujitsu Ltd
TSE:6702
6.5T JPY 11.8 13.7
JP
NEC Corp
TSE:6701
6T JPY 12.6 24.5
IN
HCL Technologies Ltd
NSE:HCLTECH
3.4T INR 11.1 20.1
JP
NTT Data Group Corp
DUS:NT5
30.3B EUR 9.9 38.8
JP
NTT Data Corp
TSE:9613
5.6T JPY 9.9 39.1

Market Distribution

Lower than 73% of companies in India
Percentile
27th
Based on 2 785 companies
27th percentile
11.1
Low
0.4 — 11.9
Typical Range
11.9 — 27.8
High
27.8 —
Distribution Statistics
India
Min 0.4
30th Percentile 11.9
Median 17.7
70th Percentile 27.8
Max 47 834.4

Happiest Minds Technologies Ltd
Glance View

Happiest Minds Technologies Ltd., founded in 2011 by Ashok Soota, emerged from the bustling tech hub of Bangalore, India, with a vision to blend technological prowess and innovation seamlessly. It has since carved a niche for itself by delivering IT services and solutions that are critical in the digital transformation landscape. The company primarily focuses on three main areas: digital business services, product engineering services, and infrastructure and security services. These services encompass a range of domain-specific solutions, such as cloud computing, analytics, artificial intelligence, and the Internet of Things (IoT), enabling businesses to modernize their operations and enhance customer engagement in a rapidly evolving digital world. The company’s business model is intricately designed to leverage its domain expertise across various industries, including retail, education, and banking, amongst others. Happiest Minds positions itself as a partner in transformation, facilitating businesses to maximize their ROI from digital investments. This is achieved by providing customized solutions that are not only cost-effective but also aligned with the latest technological advancements. The firm earns its revenue through long-term partnerships and subscription-based models, which offer both predictable income streams and the flexibility needed to accommodate the fast-paced changes typical of the tech sector. As such, Happiest Minds generates value by helping organizations stay ahead in the digital race, fostering a symbiotic relationship that drives continuous growth for its clients and itself.

HAPPSTMNDS Intrinsic Value
548.45 INR
Undervaluation 34%
Intrinsic Value
Price ₹362.8
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