Rs 967.11 crore order book: This multibagger aerospace & defence company signs strategic agreement with IN-SPACe

The stock gave multibagger returns of over 100 per cent from its 52-week low.

Data Patterns (India) Limited (NSE: DATAPATTNS | BSE: 543428), a vertically integrated Defence and Aerospace electronics solutions provider, has announced a Licensing and Transfer of Technology (ToT) agreement with IN-SPACe, a single-window, independent, nodal agency that functions as an autonomous agency in the Department of Space (DoS). This agreement will provide Data Patterns with miniature SAR Radar capability.

The technology has been developed at the Space Applications Centre (SAC), ISRO and is the forerunner of ISRO's upcoming high-resolution SAR satellite, the NISAR and made available for ToT to the industry by IN-SPACe.

Commenting on the partnership, Mr G. Kuppuswamy said, “We are delighted to be associated with IN-SPACe. 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. This alliance is also a step towards utilising India's space resources better and increasing space-based activities.”

Today, shares of Data Patters surged 1.60 per cent to Rs 2,125 per share from its previous closing of Rs 2,026.60.

The company has a market cap of over Rs 11,000 crore. The company delivered a strong financial performance in Q1FY24, with revenue, EBITDA, and profit after tax (PAT) all growing significantly year-over-year. Revenue stood at Rs 89.69 crore, up 31.16 per cent from Q1FY23. EBITDA stood at Rs 39.44 crore, up a whopping 71.85 per cent from Q1FY23. PAT stood at Rs 25.83 crore, up 82 per cent from Q1FY23. As of June 30, 2023, the company’s order book stands at Rs 927.11 crore with order inflow in Q1FY24 of Rs 132.70 crore, growing 2.9x YoY.

Data Patterns (India) Limited is one of the fastest-growing companies in the defence and aerospace electronics sector in India. It is among the few vertically integrated defence and aerospace electronics solutions providers catering to the indigenously developed defence products industry. 

The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 995.05 per share. Investors should keep an eye on this Mid-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.