Data Patterns stock rallies 6% on tech transfer deal with ISRO’s IN-SPACe

In the past one month, the stock of this defence and aerospace electronics solutions provider has declined 1.6 percent, as against 2 percent dip in the Sensex benchmark

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Shares of Data Patterns marched 6 percent to the day’s high of Rs 2,120 on the BSE on October 17 after the company inked a licensing and transfer of technology (ToT) agreement with IN-SPACe to acquire miniature synthetic aperture radar (SAR) capability. The S&P BSE Sensex was up 325 points or 0.4 percent to 66,492 levels, as of 10am.

In the past one month, the stock of this defence and aerospace electronics solutions provider has declined 1.6 percent, as against a 2 percent dip in the benchmark Sensex.

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IN-SPACe, an independent nodal agency under the department of space (DoS), will provide Data Patterns with miniature SAR radar capability, which would enhance its remote sensing prowess. The technology has been developed at Space Applications Centre (SAC) of ISRO and is a forerunner of the space agency’s upcoming high-resolution SAR satellite. IN-SPACe has made this technology available for ToT to industry players.

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SAR technology is capable of generating high-resolution images from space and can gather data both during day and night. The remote sensing would involve collection of information from a distance, usually through sensors or satellites or aircraft to observe Earth and other celestial bodies.

“This technology will enable SAR radar development by Data Patterns, complementing the large portfolio of radars already available from the company. Data Patterns expects to enhance this technology with its capability with Artificial Intelligence (AI) tools for object detection and classification,” G Kuppuswamy, Vice-President of Data Patterns, said.

Data Patterns works closely with defence PSUs such as Hindustan Aeronautics and Bharat Electronics as well as government organisations involved in defence and space research like DRDO and ISRO.

Analysts at Philip Capital peg the company’s revenue to increase 35 percent on-year to Rs 119 crore in the July-September quarter for fiscal 2023-24. The company’s earnings before interest, tax, depreciation, and amortisation (EBITDA), too, is likely to rise 47 percent on-year to Rs 44 crore from Rs 30 crore a year ago.

Besides that, the company’s EBITDA margin is estimated to expand by 316 basis points (bps) to 37.4 percent in Q2FY24 due to operating leverage, said analysts.

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