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Nirmal Bang Report
Data Patterns India Ltd. has delivered COMINT & ELINT systems and self-protection suits for land, mobile and fighter reconnaissance aircraft and aerostats, which have huge potential. The company expects orders for these platforms in the coming years.
During FY24E-FY26E, we expect revenue/Ebitda/profit after tax compound annual growth rate of 24%/23%/23%. The stock has rallied by 7% since our initiating coverage report on the Defence sector (April 05, 2024) and is currently trading at 58.6 times on FY26E EPS.
We have maintained “Accumulate" on Data Patterns with a target price of Rs 3,181, valuing it at 62 times June-26E EPS (+1SD above the long-term average).
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