Happiest Minds Technologies Limited
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Briefing
Happiest Minds Technologies Limited — the brief
Happiest Minds Technologies Limited (HAPPSTMNDS) trades on the NSE at ₹350.05 with a market capitalisation of 5,260 Cr. Classified under Technology · Information Technology Services.
Auditor’s report (CARO 2020)
Auditor’s assessment Material flags. Auditor: Deloitte Haskins & Sells. Opinion: Unqualified. Fiscal year FY24-25. 0 critical, 1 material, 2 minor flags.
- Delays in statutory dues deposit: The company occasionally delays depositing statutory dues, but such delays are not material.
Related-party transactions
Assessment Notable. 38 related parties disclosed. Fiscal year FY25.
- Material loan given to subsidiary at market rates: Loan of ₹1,250 lakhs given to Happiest Minds Inc. (subsidiary) at overnight SOFR+50bps, representing a material advance to a group company with a 3-year tenure.
- Parent company borrowed substantially from subsidiaries: Company raised ₹3,815 lakhs from Sri Mookambika and ₹3,500 lakhs from PureSoftware as loans during the year, representing significant inter-company borrowings.
Contingent liabilities
Assessment Routine. Total disclosed: ₹1 Cr (0.5% of net worth). Fiscal year FY24-25.
Corporate governance
Board of 8 directors, 50% independent. Chair: Ashok Soota. Chair and CEO roles are separated. Statutory auditor: Deloitte Haskins & Sells LLP. Board remuneration: 7.6% of net profit. Fiscal year FY24-25.
“Fresh loan of ₹ 1250 Lakhs(USD 1.46 mn) at the rate overnight SOFR + spread of 50bps has been given during the current year. tenure of the loan is for a period of 3 years.”
Forensic signal
From the company's own filingsWeak: 52-Week