Happiest Minds Q4 Review - Muted Financial Performance; Acquisitions To Drive FY25 Revenue Growth: Centrum

"NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Centrum Broking Report.Happiest Minds Technologies Ltd.’s performance for the quarter was slightly below estimates. Reported revenue of Rs 4.2 billion ( up 1.8% QoQ in Indian rupee terms, up 1.4% QoQ in USD terms). The sequential growth was led by IMSS( up 3.5% QoQ) and DBS( up 3.1% QoQ). Digital revenue increased to 96.8% of revenue vs 96.2% in Q3 FY24. Ebit margin increased by 25 bps QoQ to 16.4% led by control on direct cost (higher offshore revenue mix). Offshore revenue mix increased by 100 bps QoQ to 87.2%. Added five customers QoQ to reach 250 customers versus addition of one customer in Q3 FY24. Headcount was down 78 QoQ to 5,168 employees. Attrition was down 90 bps QoQ to 13.1%. Utilization was down 160 bps QoQ to 75.1%. The near term demand environment remains challenging led by slowdown in discretionary tech spending. It has guided for 35% to 40% revenue growth for FY25 that includes significant inorganic component on account of two recently announced acquisitions, Macmillan Learning India and Puresoft Technologies. We expect revenue/Ebitda/profit after tax to grow at 26.5%/31.4%/34.5% over FY24-FY26E. We have revised up our FY25E/FY26E EPS by +0.1%/+4.5%. We maintain Add rating on the stock with revised target price of Rs 878/share (versus Rs 908 earlier) at PE of 31 times on FY26E. We have reduced target price-to-earning multiple from 33.0 times to 31.0 times to account for weak outlook for FY25E..Click on the attachment to read the full report:.TVS Motor Q4 Results Review - Operationally Inline; MTM Loss Drives Net Profit Miss: Motilal Oswal.DISCLAIMERThis 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."

Happiest Minds Q4 Review - Muted Financial Performance; Acquisitions To Drive FY25 Revenue Growth: Centrum

Maintain Add rating on the stock with revised target price of Rs 878/share

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Happiest Minds Q4 Review - Muted Financial Performance; Acquisitions To Drive FY25 Revenue Growth: Centrum

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