Data Patterns gains 4% on profit boost, budget expectations

Budget 2-24: Experts say defence, railways and roads and highways will continue to account for about three-fourths of the capex in FY25.

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Data Patterns shares were up 4.5 percent on February 1 after the defence company reported a 53 percent year-on-year (YoY) increase in profit after tax at Rs 50.97 crore in the December quarter.

At 9.41 am, Data Patterns was up 4.2 percent at Rs 1,987.1 on the National Stock Exchange.

Defence stocks were also in focus on expectations of the Interim Budget giving a boost to the sector in line with the government’s push for self-reliance.

The company’s revenue increased 33 percent to Rs 150.81 crore. Data Patterns order book stood at Rs 975.4 crore as of January 30.

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Its earnings before interest, tax, depreciation and amortization increased 28 percent YoY to Rs 60.04 crore.

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Experts believe that defence, railways, and roads and highways would continue to account for about three-fourths of the total capex in FY25.

Industry expects defence capital outlay to grow at 12–15 percent YoY on the back of systems modernisation, infra development, iDEX, and others as the focus on indigenisation and exports ramp-up endures, Nuvama Institutional Equities said in a report.

“Defence capex to increase 5–8 percent YoY with higher allocation towards R&D, UAV, drones, and, anti-drone systems as some key large systems are already in the pipeline,” the brokerage firm said.

Data Patterns’ is involved in designing and developing radars, electronic warfare suites, communications, avionics, small satellites, and automated test equipment.

It also caters to Tejas Light Combat Aircraft, Light Utility Helicopter, BrahMos and other Communication & Electronic Intelligence Systems. The company works closely with the defence PSUs such as Hindustan Aeronautics and Bharat Electronics as well as DRDO and ISRO.

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