Happiest Minds announces a new vertical organization structure comprising six new industry groups, stock up 2.5%

The new industry groups are Industrial, Manufacturing and Energy & Utilities, Healthcare & Life Sciences, Retail, CPG and Logistics, Banking, Financial Services, and Insurance (BFSI), Hi-Tech and Media & Entertainment, and EdTech

IT firm Happiest Minds Technologies Limited saw its stock price rise 2.5 percent on Tuesday after it announced a new vertical organization structure comprising six new industry groups.

The new industry groups are Industrial, Manufacturing and Energy & Utilities, Healthcare & Life Sciences, Retail, CPG and Logistics, Banking, Financial Services, and Insurance (BFSI), Hi-Tech and Media & Entertainment, and EdTech.

Ashok Soota, Executive Chairman, said “The potential of this new structure is immense and will be the bedrock of new growth engines, enabling us to compete better in the global markets and realize our vision of reaching $ 1 billion in revenues by 2031.”

At 1145 hours, the firm's scrip on BSE was trading 2.5 percent higher at Rs 855.5.

Joseph Anantharaju, Executive Vice Chairman & CEO (of PDES), said: “This verticalisation is a major event in the evolution and growth of Happiest Minds changing the foundations of our organization structure, while significantly augmenting our sales prowess and accelerating growth. Each Industry Group (IG) will have dedicated teams with deep domain expertise,

allowing for customized solutions, and faster response times thus enhancing our agility and driving innovation leading to increased customer happiness and sustainable growth.”

"Each new Industry Group is led by an IG Head and is responsible for the P&L, selling Generative AI Business Services (GBS) to existing and potential accounts, along with Product & Digital Engineering Services (PDES) and Infrastructure Management & Security Services (IMSS). Being a market-facing leadership role, the IG Head owns the IG strategy, business plan, GTM, sales, domain capability, and overall customer and people happiness. Each IG Cluster will have dedicated teams with deep domain expertise, specialist BDMs for existing account growth, and in-house consulting capabilities," said the IT firm in a stock exchange filing.

Poornima Bethmangalkar will head Industrial, Manufacturing, and Energy & Utilities. Srinivas Iyengar will head Healthcare & Life Sciences as the VP and IG Head.

Priya Prasad will head the Retail, CPG & Logistics industry group while Subhasis Bandyopadhyay will head Banking, Financial Services, and Insurance (BFSI).

Viswanath Subramaniam will head the EdTech industry group while the head for Hi-Tech and Media & Entertainment will be announced in the coming weeks.