Rs 1,083.10 crore order book: Heavy buying was witnessed in this multibagger aerospace & defence stock; Rockets over 10 per cent on July 25
At the closing bell, shares of the company are trading at Rs 3,391.95 per share, up 10 per cent with a spurt in volume by more than 3.4 times on BSE.
On Thursday, one of the Top Gainers on BSE, shares of Data Patterns (India) Limited rocketed 11.24 per cent to an intraday high of Rs 3,431.05 per share from its previous closing of Rs 3,084.35 per share. At the closing bell, shares of the company are trading at Rs 3,391.95 per share, up 10 per cent with a spurt in volume by more than 3.4 times on BSE.
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.
Earlier, the company, Data Patterns signed a technology transfer deal with IN-SPACe to gain miniature synthetic aperture radar (SAR) capability. This tech originated from ISRO and will be used in their upcoming NISAR satellite.
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The company has a market cap of over Rs 19,000 crore and has delivered good profit growth of 87.3 per cent CAGR over the last 5 years. According to Quarterly Results, the company reported net sales of Rs 182.29 crore in Q4FY24. The net profit increased by 28.4 per cent to Rs 71.170 crore in Q4FY24 compared to a net profit of Rs 55.36 crore in Q4FY23. In its annual results, the net sales increased by 14.6 per cent to Rs 519.80 crore and net profit increased by 46.5 per cent to Rs 181.69 crore in FY24 compared to FY23.
As of March 31, 2024, the company’s order book stands at Rs 1,083.10 crore which is 2x of FY24 revenue. The stock is up by 95.5 per cent from its 52-week low of Rs 1,735.10 per share and gave multibagger returns of 360 per cent in 2 years. Investors should keep an eye on this mid-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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