Shares of Chennai-based firm, Data Patterns, reached a new record high on May 18, showcasing a remarkable surge.
The multi-bagger defense stock surged by 4.14% on the Bombay Stock Exchange (BSE), closing at Rs 3,320.35 on May 18, up from Rs 3,188.50 the previous day.
During the preceding trading session, it hit an all-time high of Rs 3,347.90.
Over the past year, the stock has witnessed a notable gain of 103%, while over two years, it has soared nearly 350%.
Following the earnings announcement after market hours on May 18, Data Patterns revealed impressive financial results for Q4. The company reported a net profit of Rs 71 crore, marking a significant 40% increase from Rs 51 crore in Q3 FY24. Total revenue also experienced a substantial growth of 29%, reaching Rs 195 crore from Rs 151 crore in the previous quarter.
Moreover, EBITDA surged by an impressive 55% to Rs 93 crore, the highest recorded in any quarter, compared to Rs 60 crore in Q3 FY24. Profit before tax witnessed a notable rise of 45% to Rs 95 crore from Rs 66 crore in the preceding quarter.
For the full fiscal year FY24, Data Patterns reported a 22% increase in revenue, reaching Rs 566 crore compared to Rs 463 crore in FY23. EBITDA also experienced significant growth, rising by 29% to Rs 222 crore from Rs 172 crore, while profit after tax jumped by 47% to Rs 182 crore from Rs 124 crore in the previous fiscal year. Notably, the PAT margin improved to 35% from 27% in FY23.
In addition to its impressive financial performance, Data Patterns proposed a final dividend of Rs 6.50 per equity share (325% per Rs 2 share) for the financial year 2023-24. If approved at the upcoming Annual General Meeting scheduled for July 30, 2024, the dividend will be distributed by August 29, 2024.
Data Patterns (India) Limited, a vertically integrated provider of defense and aerospace electronics solutions, focuses on indigenously developed defense products. Its portfolio includes COTS Boards, ATE and Test systems, Space Systems, and Radio Frequency and Microwave products, catering to the demanding needs of the defense industry.
