Robust annual EBITDA of ₹462 Cr at 21.4% margin, reflecting consistent operating profitability

BENGALURU, India and SEATTLE and LONDON, May 13, 2025 /PRNewswire/ — Happiest Minds Technologies Limited (NSE: HAPPSTMNDS), a ‘Born Digital. Born Agile’, a digital transformation and IT solutions company, today announced its consolidated results for the Fourth quarter ended March 31, 2025, as approved by its Board of Directors.

Ashok Soota, Chairman & Chief Mentor, said, “Happiest Minds continues to show above-industry-leading growth this fiscal year. The ten strategic transformational changes that we rolled out are shaping Happiest Minds’ future. Our strategic initiatives, along with the continued commitment of our teams, have us well-positioned for strong double-digit organic growth in FY26 and beyond. Economists are projecting a slowdown in some of our largest markets; I want to emphasize that we have healthy pipelines of demand and do not see any recession-driven slowdown.”

Joseph Anantharaju, Co-Chairman & CEO, said, “The transformative initiatives we have launched over the last year are beginning to yield results and are laying a robust foundation for future growth. Our move to a vertical structure has resulted in accelerated growth in several verticals like Healthcare and BFSI. We continue to see an increase in the share of the Healthcare vertical, which saw large new deals totalling $20 Mn from 4 customers and these are likely to be repeated next year. The two transformations that we initiated around GenAI BU and the independent NN hunting team have seen a good buildup in the pipeline that should result in revenue growth. Our other initiatives around High Potential accounts, GCC and Private Equity pursuit are beginning to take hold and should start yielding results in the ensuing quarters.”

Venkatraman Narayanan, MD & CFO, said, “I am extremely happy to report on an annual growth of 26% in constant currency with an EBITDA of 21.4%, the latter, well in line with our guidance. Adjusted for a one-time bad debt and continued investments in Gen AI and Sales teams, Operating margin and EBIDTA continue to be industry leading and comparable to the previous year. PAT and EPS adjusted for acquisition related costs and exceptional item, a reliable measure of performance, continues to remain steady.”

Key Financial highlights

Quarter ended March 31, 2025

Revenue in constant currency grew 1.1% q-o-q and 27.9% y-o-yOperating Revenues in US$ stood at $63 million, growing 0.3% q-o-q and 25.6% y-o-yTotal Income of ₹ 57,052 Lakhs grew 3.0 % q-o-q and 28.9% y-o-yEBITDA of ₹ 10,984 Lakhs, stood at 19.3% of Total Income. Decline of 6.0% q-o-q on account of an unfortunate bad debt of ₹ 1,204 Lakhs while growing 1.5% y-o-yPAT of ₹ 3,401 Lakhs 6.0% of Total Income.Adjusted PAT and EPS (adjusted only for non-cash charges and exceptional items), a more reliable profitability measures stand at:Adjusted PAT of ₹ 5,668 Lakhs at 9.9% of Total Income (decline of 4.5% and 13.0% y-o-y⁴)Adjusted EPS at ₹ 3.76

Year ended March 31, 2025

Revenue in constant currency grew 25.6%Operating Revenues at US$ $243.6 million grew 24.2%Total Income of ₹ 216,222 Lakhs grew 26.4%EBITDA of ₹ 46,224 Lakhs, at 21.4% of Total income, Absolute growing of ₹ 4,102 LakhsPAT of ₹18,466 Lakhs at 8.5% of Total Income.Adjusted PAT and EPS (adjusted for non-cash charges and exceptional items), a more reliable profitability measure stands at:Adjusted PAT of ₹ 24,638 Lakhs 11.4% of Total IncomeAdjusted EPS at ₹ 16.37

Clients:

281 as of March 31, 202514 additions in the quarter

Our People – Happiest Minds:

6,632 Happiest Minds as of March 31, 2025Trailing 12-month attrition of 16.6% (15.3% in the previous quarter)Utilization of 77.4%, from 78% in last quarter

Key wins:

For a US based not-for-profit organization in media and publication, Happiest Minds has been chosen as a strategic partner to build their customer master data management using Pimcore® platform.For an American Insurance broker, Happiest Mind is leveraging MS Power Platform to build their Client Data PortalFor a global market research agency, Happiest Minds is leveraging Generative AI to develop their End User Chat platformFor a US manufacturer of intelligent fluid-flow equipment, Happiest Minds was chosen to build their next-generation connected productsFor a Middle Eastern E-Commerce company, Happiest Minds is providing cybersecurity assessment & implementation servicesFor a Middle Eastern bank, Happiest Minds is providing Risk and Governance Consulting Services

Award Wins:

Happiest Minds is awarded Best DevOps Framework for Scalability and Security (IT Services) in the 6th Edition India DevOps Show 2025.Happiest Minds is ranked 2nd in “IT Services” category at the ESC Export Excellence Awards 2025Happiest Minds is recognized among ‘Inspiring Firms in AI & Analytics’ at the 3AI ACME AwardsHappiest Minds has won WOW Workplace Award for IT, ITeS & GCC

Analyst Mentions:

Happiest Minds is ‘Product Challenger’ in ISG Provider Lens Study for Digital Engineering Services – Europe, USHappiest Minds is ‘Major Contender’ in Everest Industry 4.0 PEAK Matrix 2025Happiest Minds is ‘Major Contender’ in Everest Data and AI (D&AI) Services for Mid-market Enterprises PEAK Matrix 2025Happiest Minds is ‘Innovator and Major Player‘ in NelsonHall’s Transforming Core Banking Services NEAT ReportHappiest Minds is among ‘Seasoned Vendors’ in AIM Research’s PeMa Quadrant for MLOps Service Providers 2025

Announcements:

The Board of Directors of the Company at their meeting held on May 12, 2025 has recommended a final dividend of ₹ 3.5 per equity share of face value ₹ 2/- for the financial year 2024-25 subject to shareholder approval.

For further details please refer to the Investors presentation hosted on the company website — Investors section

About Happiest Minds Technologies:

Happiest Minds Technologies Limited (NSE: HAPPSTMNDS), a Mindful IT Company, enables digital transformation for enterprises and technology providers by delivering seamless customer experiences, business efficiency and actionable insights. We do this by leveraging a spectrum of disruptive technologies such as: artificial intelligence, blockchain, cloud, digital process automation, internet of things, robotics/drones, security, virtual/ augmented reality, etc. Positioned as ‘Born Digital. Born Agile’, our capabilities span Product & Digital Engineering Services (PDES), Generative AI Business Services (GBS) and Infrastructure Management & Security Services (IMSS). We deliver these services across industry groups: Banking, Financial Services & Insurance (BFSI), EdTech, Healthcare & Life Sciences, Hi-Tech and Media & Entertainment, Industrial, Manufacturing, Energy & Utilities, and Retail, CPG & Logistics. The company has been recognized for its excellence in Corporate Governance practices by Golden Peacock and ICSI. A Great Place to Work Certified™ company, Happiest Minds is headquartered in Bengaluru, India with operations in the U.S., UK, Canada, Australia, and the Middle East.

Safe harbor

This press release contains forward-looking statements, which may involve risks and uncertainties. Actual results may differ materially from those expressed or implied due to various factors including but not limited to changes in market conditions, technological advancements, regulatory developments, and the overall economic environment. Happiest Minds undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

For more information, contact:

Dr. Kiran Veigas
Vice President and Head – Corporate Marketing, Branding & Communications
Media Contact: media@happiestminds.com
Investors Relations: IR@happiestminds.com

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SOURCE Happiest Minds Technologies Limited

TOKYO, May 13, 2025 /PRNewswire/ — Eatron Technologies Limited, a UK-based developer of AI-powered battery optimization software platform, has established its Japan office in Tokyo following its selection for the Tokyo Metropolitan Government’s GX (Green Transformation) Support Program for Foreign Companies.

This program is designed to attract and support overseas companies with advanced technologies that can contribute to Japan’s decarbonization and sustainability goals. Eatron was one of seven companies selected through a competitive process, which included 59 applications from 20 countries and regions.

Eatron develops Intelligent Optimization Software for lithium-ion batteries, which integrates AI, physical models, and cloud-edge architecture to improve the safety, performance, and lifetime of the batteries in operation. The software is used across a wide range of applications including electric vehicles (EVs), light mobility, commercial vehicles, and energy storage systems (ESS). Key functions include accurate estimation of battery State of Charge (SoC) and State of Health (SoH), which are critical to ensure high performance and longevity enabling second-life battery applications and supporting a circular battery economy.

The establishment of the Tokyo office extends Eatron’s global coverage and enhances its collaboration with automotive OEMs, battery pack suppliers, Tier 1s, and ESS integrators in Japan.

Eatron is currently active in several global research and industry consortia, supporting areas such as enhanced battery safety, battery swapping, modular battery system optimization, and fleet-level battery analytics. These technologies aim to improve cost efficiency and flexibility in electrification strategies.

The Tokyo office will also serve as the base for Eatron’s future local hiring and partnerships, with a view to expanding technical and commercial operations in Japan over the next five years. Initial hires will support engineering, business development, and customer success roles.

“We would like to thank the Tokyo Metropolitan Government and the review committee for their support,” said Dr Umut Genc, CEO of Eatron. “Our aim is to contribute intelligent, scalable software solutions to support Japan’s goals in electrification and sustainable energy.”

About Eatron
We develop AI-powered battery optimization software that gives our clients the edge in safety, efficiency, and performance.

With advanced technology and world-class engineering, we help industries tackle challenges, reduce risks and lead the electrification revolution.

Website
LinkedIn
Youtube

Links
Support for GX-Related Foreign Companies – Invest Tokyo – Tokyo Metropolitan Government

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Launching Inaugural Summit in Singapore to Spearhead Collaborative Efforts in Building the Future of Digital Trust 

MIAMI, May 13, 2025 /PRNewswire/ — Sumsub, a global full-cycle verification platform, today announced the launch of its inaugural flagship event—What The Fraud Summit (WTF Summit), the first visionary summit to beat the global fraudemic. The first edition of the event is set to take place at Andaz Singapore from November 19 to 20, 2025. With an assembly of over 500 experts and industry leaders from fraud prevention, compliance, financial crime, regulation, and product innovation, the WTF Summit aims to bridge the gaps between fraud prevention, AI-driven security, regulatory shifts, and digital resilience to formulate actionable anti-fraud strategies to drive the future of digital trust.

With the democratization of fraud and the continuously evolving fraud tactics, Asia-Pacific (APAC) has witnessed a 121% year-on-year increase in identity fraud in 2024, revealed by Sumsub’s 2024 Identity Fraud Report. Another alarming trend observed globally is that nearly half of companies and end users worldwide reported being victims of identity fraud at least once last year, and businesses suffer a loss of approximately $300,000 per fraud event.

“With the rapidly growing fraud risks across the globe, we recognized a critical need for a dedicated platform for industry leaders, regulators and fraud experts to have bold conversations and exchange actionable insights to beat the global fraudemic,” said Andrew Sever, Co-founder and CEO of Sumsub. “By launching the WTF Summit in APAC, we aim to fill the gap in discussions surrounding the multifaceted nature of fraud prevention in the region. Our goal is to collaborate with top minds to craft holistic strategies to create a safer digital future for everyone.”

Top Industry Voices to Shape the Future of Fraud Prevention 

The WTF Summit presents a diverse lineup of speakers, including renowned experts and thought leaders from the space of fintech, crypto, tech, and compliance to connect the dots between fraud prevention, AI security, regulation, and resilience. 

Among all, some of the highlighted speakers at WTF Summit include (arranged in no particular order):

Frans Wiwanto, Managing Director, APAC, FlywireDavid Song, Head of Digital Business Unit, Green Link Digital BankJoseph Gan, CEO, V-KeyAnson Zeall, Founder, Azentiq NexusDesmond Yong, Founder, Meta Alpha, and Legal & Compliance DirectorEelee Lua, Co-founder & COO, DefySteve Craig, Founder & CEO, PEAK IDVAnnette Lu, Head of Compliance, APAC, Hex Trust

Speaker nomination is now open and available here.

In-depth Agenda Addressing Modern Fraud Challenges 

The WTF Summit is designed to deep dive into modern fraud challenges through a mix of keynote sessions, panel discussions, hands-on workshops and networking opportunities.

At the Main Summit (November 20), attendees can look forward to sessions that provide practical takeaways focused on four key topics:

AI & Fraud: How emerging AI-driven fraud schemes are evolving and what proactive defenses businesses need to stay ahead;Digital Identity: Best practices from various industries in securing digital identity while ensuring accessibility and compliance;Compliance: The shifting regulatory landscape, including fraud and compliance trends, risk intelligence, and fraud detection;Crypto: Addressing cross-border challenges, tokenization, and regulatory shifts in the digital asset space.

In addition, Sumsub will offer expert-led workshops with certifications on the day before the Main Summit (November 19). The workshops will be in three specialized modules, which are related to modern scams and deepfakes, smart and compliant onboarding, as well as AML investigations and case management respectively.

The workshop series is proven to equip participants with hands-on experience and practical training, as Sumsub has already successfully conducted similar workshops for INTERPOL and other organizations.

Limited Early Bird Ticket Offer Opens Now

Tickets to WTF Summit can be purchased at the official website: https://sumsub.com/wtf-summit/. The first 100 tickets can enjoy an early-bird discounted offer.

Follow the official LinkedIn page of WTF Summit for the latest updates.

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About Sumsub

Sumsub is a full-cycle verification and ongoing monitoring platform that secures the whole user journey. With Sumsub’s customizable KYC, KYB, Transaction Monitoring, Fraud Prevention and Travel Rule solutions, you can orchestrate your verification process, welcome more customers worldwide, meet compliance requirements, reduce costs, and protect your business.

Sumsub has over 4,000 clients across the fintech, crypto, transportation, trading, edtech, e-commerce and gaming industries including Duolingo, Bitpanda, Wirex, Avis, Bybit, Vodafone, Kaizen Gaming, and TransferGo.

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SOURCE Sumsub