The shares of this defence and aerospace electronics manufacturer gained 9.6% to an intraday high of ₹2,035.15 per share after a large deal worth ₹1,100 crores changed hands in a block deal on February 16.
Data Pattern Ltd belongs to a small-cap category of stock with a market capitalization of ₹11,202 crores. Its stock has gained 9% on a date basis and 43% in a year.
According to a report by Moneycontrol, Data Patterns shares valued at ₹1,100 crore were traded in a block deal on February 16. Approximately 60 lakh shares, equivalent to a 10.7 percent stake in the company, were exchanged in the block deal.
Although Moneycontrol did not disclose the identities of the involved parties, The sold stake was bought by a clutch of foreign and domestic institutional buyers, the report stated.
On a year-on-year basis, the company’s revenue has increased by 25% from ₹112 crore in Q3FY23 to ₹140 crore in Q3FY24. The Net Profit climbed by 54% during the same time, from ₹ 33 crore to ₹ 51 crore.
Data Patterns (India) Limited is one of the leading firms 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 defense products industry.
Data Patterns cater to the entire spectrum of defence and aerospace platforms like space, air, land, sea and under-sea.
The company is engaged in the supply of critical products to several prestigious defence projects in India, including the Light Combat Aircraft (LCA), the HAL Dhruv, Light Utility Helicopter (LUH) and the BrahMos missile program, precision approach radars and various communications intelligence (COMINT) and electronic intelligence (ELINT) system.
In the December quarter, the company reported an order book totaling ₹962.8 crore. The company experiences diversified revenue growth, with 69% of its revenue originating from the production segment, 26% from the development segment, and 5% from the service sector.
Written by Omkar Chitnis
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