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Motilal Oswal Report
Data Patterns Ltd.'s reported a strong revenue growth of 25% YoY in Q3 FY24, fueled by a robust traction in production revenue (up 32% YoY) and development revenue (up 16% YoY).
Data Patterns recorded strong operating performance (Ebitda margin up 100 basis Points YoY), primarily due to an improved gross margin (up 130 bp YoY), aided by the favorable business mix.
We retain our FY25/FY26 earning per share estimates. We reiterate our Neutral stance on the stock with a target price of Rs 2,020 (premised on 35 times FY26E EPS).
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