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Happiest Minds – When superb execution faces a hostile macro

In the long term, technology spending will go up but for now enterprises may tighten purse strings putting strain on Happiest Mind's valuation

September 20, 2022 / 03:23 PM IST
Happiest Minds – When superb execution faces a hostile macro

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Highlights - FY23 starts on a high note - Strong traction in revenue, no signs of stress yet except for a blip in Hitech vertical - Revises full-year guidance upwards, eyeing $1 billion revenue by 2031 - Margin resilient amid attrition, wage revision in Q2 - Macro concerns could impact demand although supply pressure easing - Defending premium valuation a challenge, peers have corrected more - Add on decline Happiest Minds Technologies (CMP: Rs 1001.9, Market Cap: Rs 14,714 crore) has been one of the relative winners...

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