Data Patterns (India) Limited reports significant growth in FY 2023-24

Data Patterns (India) Limited (NSE: DATAPATTNS | BSE: 543428), a key player in the defense and aerospace electronics systems sector, has announced its financial results for the fiscal year and quarter ending March 31, 2024, showcasing remarkable growth. The company, which specializes in electronics for indigenously developed defense products, has reported a substantial increase in its financial performance metrics.

Impressive Annual and Quarterly Growth of Data Patterns (India)

For FY 2023-24, Data Patterns achieved a total revenue of INR 566 crore, a 22% increase from the previous year. The revenue from operations rose to INR 520 crore, marking a 15% growth. The operational EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) saw a 29% increase, reaching INR 222 crore. The Profit Before Tax (PBT) and Profit After Tax (PAT) also grew significantly by 47%, with PAT increasing to INR 182 crore.

In the fourth quarter of FY 2023-24, the company continued its upward trajectory, recording a 29% increase in total revenue from the previous quarter, reaching INR 195 crore. The operational revenue and EBITDA for Q4 rose by 31% and 55% respectively. PAT for this quarter was reported at INR 71 crore, up 40% from Q3 FY 2023-24.

Dividends and Order Book

The Board of Directors has recommended a final dividend of INR 6.50 per share (325% per equity share of INR 2 each), pending shareholder approval at the upcoming Annual General Meeting. The company’s order book as of March 31, 2024, stood at INR 1,083.01 crore, with additional orders worth INR 6.29 crore received in the first quarter of FY 2024-25 and pending orders worth INR 14.80 crore.

Data Patterns (India) Leadership Commentary

Srinivasagopalan Rangarajan, Chairman and Managing Director of Data Patterns, expressed satisfaction with the year’s outcomes, stating, “Our EBITDA increased by 29% and PAT increased by 47% in FY 2023-24, marking significant growth compared to last year. Order inflows have aligned with our guidance, with deliveries scheduled for next quarter. Going forward, we remain committed to excellence and innovation in product development, leveraging opportunities in the Indian defense sector.”

Data Patterns is renowned for its comprehensive capabilities in designing and developing electronic hardware, software, firmware, and mechanical products, among other technologies. The company is integral to various high-profile defense projects, including the Tejas Light Combat Aircraft and BrahMos missiles, and works closely with major public sector units like Hindustan Aeronautics Ltd and Bharat Electronics Ltd, as well as government organizations like DRDO and ISRO.

The robust financial performance of Data Patterns (India) Limited in FY 2023-24 reflects its strong position and operational excellence in the defense and aerospace sector. With a healthy order book and ongoing commitments to innovation and quality, the company is well-positioned for continued growth and contributions to India’s defense capabilities.