Average annual revenue per active customer is on the increasing trend for Happiest Minds although attrition rate is increasing | Q2 FY22 Conference Call Highlights

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  • Completed a decade of existence and one year listing on stock exchange
  • Introduced vision statement for 2031 and beyond: It has six elements.  It talks about design for perpetuity, Diversity, Ownership, Leadership, Strategy, ESG (Environment, social and governance), to create a great place to work.
  • Diversity: Aim to have 35% women employees and 30% women in the leadership roles
  • No longer will have the benefit of deferred tax credit. Current tax rate is 25.1% for the company as against 20.1% in the preceding year.
  • Subcontracting cost: Q2FY21: 7.6%, Q1FY22: 14.3%, Q2FY22: 13.1%. Employee cost has also reduced in this quarter with increasing subcontracting cost.
  • Growth rate for next 5 years: 20% CAGR.
  • EBITDA Margins going forward to be in the range of 22%-24%.
  • More focus on the new domains like travel and healthcare where they have less expertise.
  • High attrition continues for the firm. It takes nearly 6 months for freshers to be job ready.
  • Average annual revenue per active customer is on increasing trend, currently at 0.78 million USD.

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