External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Happiest Minds Technologies / Equity Bottom-Up

Happiest Minds Technologies (HAPPSTMN IN)

<ul><li>Despite a globally uncertain and challenging environment marked by inflation, currency fluctuations, and geopolitical tensions, Happiest Minds Technologies Ltd. delivered a resilient operational performance in FY25.</li><li>The company’s revenue grew 26.5% YoY, aided by organic growth and PureSoftware.</li><li>HML continued to invest in digital-first capabilities (AI/GenAI, cloud, cybersecurity, IoT) to execute various projects across diverse geographies and industries while maintaining its asset-light business model and a focus on high-margin segments.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Despite a globally uncertain and challenging environment marked by inflation, currency fluctuations, and geopolitical tensions, Happiest Minds Technologies Ltd. delivered a resilient operational performance in FY25.The company’s revenue grew 26.5% YoY, aided by organic growth and PureSoftware.HML continued to invest in digital-first capabilities (AI/GenAI, cloud, cybersecurity, IoT) to execute various projects across diverse geographies and industries while maintaining its asset-light business model and a focus on high-margin segments.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Happiest Minds Technologies Ltd - Digital Transformation & Inorganic Opportunities to Augur Well

<ul><li>Demand Outlook: The global IT industry faces mixed macroeconomic and geopolitical uncertainty, but demand remains resilient in BFSI and healthcare, with early signs of growth in technology, media, entertainment, and manufacturing. </li><li>Order Book/Pipeline: The order book pipeline remains strong across multiple geographies and verticals, driven by the "Net New" strategy and "land and expand" approach.</li><li>H2FY26 is expected to be better than H1FY26.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Demand Outlook: The global IT industry faces mixed macroeconomic and geopolitical uncertainty, but demand remains resilient in BFSI and healthcare, with early signs of growth in technology, media, entertainment, and manufacturing. Order Book/Pipeline: The order book pipeline remains strong across multiple geographies and verticals, driven by the "Net New" strategy and "land and expand" approach.H2FY26 is expected to be better than H1FY26.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Happiest Minds Technologies Ltd - Mixed Performance; Strong Revenue Outlook

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Belrise Industries / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/belrise-industries" target="_blank" data-smartkarma-citation="entities:44122:1" rel="noopener">Belrise Industries (9156339Z IN)</a> is looking to raise about US$255m in its upcoming India IPO.</li>
<li>Belrise Industries is an automotive component manufacturing company based in India offering a diverse range of safety critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial and agri-vehicles.</li>
<li>In this note, we talk about the company’s historical performance.</li>
</ul>



Belrise Industries (9156339Z IN) is looking to raise about US$255m in its upcoming India IPO.
Belrise Industries is an automotive component manufacturing company based in India offering a diverse range of safety critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial and agri-vehicles.
In this note, we talk about the company’s historical performance.


Belrise Industries Pre-IPO - Expansion Plans and Related Party Risks

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Happiest Minds (HAPPSTMN) has strengthened its capabilities in the BFSI and Healthcare verticals, fuelled by strategic acquisitions of PureSoftware and Aureus</li><li>The recent acquisition of Gavs Technologies will further strengthen the BFSI vertical, which is now ~24% of revenue</li><li>The company is targeting future acquisitions in manufacturing, retail, and industrial sectors, focusing on capabilities like SAP S/4HANA and Cybersecurity</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Happiest Minds (HAPPSTMN) has strengthened its capabilities in the BFSI and Healthcare verticals, fuelled by strategic acquisitions of PureSoftware and AureusThe recent acquisition of Gavs Technologies will further strengthen the BFSI vertical, which is now ~24% of revenueThe company is targeting future acquisitions in manufacturing, retail, and industrial sectors, focusing on capabilities like SAP S/4HANA and CybersecurityContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Happiest Minds Technologies: Focus on Organic Growth Revival. Maintain ADD

<ul><li>The management is very optimistic about long-term and broad-based growth across verticals, backed by resilient client engagement.</li><li>The management is confident of gaining medium to long-term demand momentum on the backdrop of the deals it has won in the previous quarters.</li><li>Moreover, it expects strong revenue growth of 35%-40% in FY25, indicating better recovery in the near term</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The management is very optimistic about long-term and broad-based growth across verticals, backed by resilient client engagement.The management is confident of gaining medium to long-term demand momentum on the backdrop of the deals it has won in the previous quarters.Moreover, it expects strong revenue growth of 35%-40% in FY25, indicating better recovery in the near termContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Happiest Minds Technologies Ltd - Miss on Revenue Estimates; Strong Revenue Outlook

India

Happiest Minds Technologies Ltd. is an AI-first, customer-centric digital engineering company that provides IT services focusing on digital transformation for enterprises. The company delivers secure and scalable solutions across product engineering, cybersecurity, analytics, and automation platforms. Happiest Minds Technologies was founded in 2011 and is headquartered in Bengaluru, India.

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Happiest Minds Technologies (HAPPSTMN IN)

Happiest Minds Technologies Ltd - Digital Transformation & Inorganic Opportunities to Augur Well

The company’s revenue grew 26.5% YoY, aided by organic growth and PureSoftware. HML continued to invest in digital-first capabilities

Axis Direct

Happiest Minds Technologies Ltd - Mixed Performance; Strong Revenue Outlook

Demand Outlook: The global IT industry faces mixed macroeconomic and geopolitical uncertainty, but demand remains resilient in BFSI and healthcare

Axis Direct

Happiest Minds Technologies: Focus on Organic Growth Revival. Maintain ADD

Happiest Minds (HAPPSTMN) has strengthened its capabilities in the BFSI and Healthcare verticals, fuelled by strategic acquisitions of PureSoftware...

HDFC Securities

Happiest Minds Technologies Ltd - Miss on Revenue Estimates; Strong Revenue Outlook

The management is very optimistic about long-term and broad-based growth across verticals, backed by resilient client engagement.

Axis Direct

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Happiest Minds Technologies Ltd - Digital Transformation & Inorganic Opportunities to Augur Well

The company’s revenue grew 26.5% YoY, aided by organic growth and PureSoftware. HML continued to invest in digital-first capabilities

Axis Direct

Happiest Minds Technologies Ltd - Mixed Performance; Strong Revenue Outlook

Demand Outlook: The global IT industry faces mixed macroeconomic and geopolitical uncertainty, but demand remains resilient in BFSI and healthcare

Axis Direct

Belrise Industries Pre-IPO - Expansion Plans and Related Party Risks

Belrise Industries Limited is looking to raise about US$255m in its upcoming India IPO. In this note, we talk about the company’s historical...

Akshat Shah

Happiest Minds Technologies: Focus on Organic Growth Revival. Maintain ADD

Happiest Minds (HAPPSTMN) has strengthened its capabilities in the BFSI and Healthcare verticals, fuelled by strategic acquisitions of PureSoftware...

HDFC Securities

Happiest Minds Technologies Ltd - Miss on Revenue Estimates; Strong Revenue Outlook

The management is very optimistic about long-term and broad-based growth across verticals, backed by resilient client engagement.

Axis Direct