Data Patterns keeps FY24 revenue growth guidance at 30%, eyes ₹2,000 crore from new products sales

In line with the "Atmanirbhar Bharat" initiative, the government is also relaxing foreign investment regulations to foster self-reliance in defence production. These moves are set to maintain the defence sector's robust growth trajectory.

Data Patterns maintains a close working relationship with prominent defence firms, including Hindustan Aeronautics and Bharat Electronics. The company also collaborates with government organisations such as DRDO and ISRO, actively participating in defence and space research.

The company's shares have gained close to 39% in a year.

Srinivasagopalan Rangarajan, the Chairman and Managing Director, in an interview with CNBC-TV18, conveyed that the journey of crafting, certifying, and qualifying these advanced products is extensive but essential to compete for the MoD's substantial tender opportunities. Rangarajan anticipates that these efforts could impact the company's growth trajectory over the next two to three years.

Data Patterns expects a promising order inflow of around ₹500 crore for the year. With orders worth ₹250 crore already secured, the company is confident of receiving repeat orders in the range of ₹1,000-2,000 crore in the near future.

| Data Patterns says Nippon and Axis were the large participants in the Rs 500 crore QIP

On October 16, Data Patterns unveiled a significant licensing and technology transfer agreement with the Indian National Space Promotion and Authorisation Centre (IN-SPACe), an autonomous agency operating under the Department of Space, a pivotal entity within India's space programs.

 

In the recently concluded quarter, Q2FY24 (September 2023), Data Patterns reported net sales of ₹108.31 crore, a 22.86% increase from the ₹88.16 crore last year. The net profit was ₹33.79 crore, 60.52% higher than ₹21.05 crore last year.

Established in 1998, Data Patterns is a vertically integrated electronics solutions provider specialising in the defence and aerospace sectors. The company has a market capitalisation of ₹10,738.84 crore.

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