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Motilal Oswal Report
Happiest Minds Technologies Ltd. is one of the leading next generation digital transformation company, focusing on delivering a seamless digital experience to its customers.
The company derives 97% of its revenues from Digital IT services by offering services like cloud, software as a service (SaaS), security, analytics and Internet of Things (IoT), compared to 30-50% for traditional Indian IT services peers.
It caters to multiple business verticals of which major contribution comes from Edutech (21% in FY20), Hitech (21%), banking, financial services and insurance (18%) and TME (travel, media and entertainment- 17%).
High revenue generating customer accounts for Happiest Minds Technologies has increased 1.6 times to 25 (148 total clients) over FY18-20, with a high proportion of repeat revenues and revenues from mature markets.
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