Shares of this defence stock under the ‘small-cap’ category jumped up to 5 percent in Thursday’s trading session after the company reported financial results for the quarter ended December 2023. In the past year, the company’s stock has gained nearly 40 percent for its shareholders.
With a market capitalization of Rs 10,911 crores, the stocks of Data Patterns (India) Limited started their trading session on Thursday at Rs 2,047.50 and currently trade at Rs 1,948.95, gaining nearly 3 percent compared to the previous closing levels of Rs 1,905 apiece.
Such bullish stock price movements were observed after the company, through a regulatory filing with the Bombay Stock Exchange (BSE), announced the financial results for the quarter ended December 2023.
During the recent financial quarters, the company reported a jump in both the prime indicators of business, viz, operating revenues as well as after-tax profits with the former taking a shift from Rs 108 crores during Q2FY24 to Rs 140 crores during Q3FY24, and the after-tax profits, during the same period, increasing from Rs 34 crores to Rs 51 crores.
Moreover, the company, yearly, reported an increase in both metrics mentioned above with the operating revenues rising from Rs 112 crores during Q3FY23 to Rs 140 crores during Q3FY24, and the latter, keeping the timeframe the same, rose nearly 55 percent, shifting from Rs 33 crores to Rs 51 crores.
According to the recent presentations, the company’s total order book during Q2FY24 reached Rs 1,000 crores, with an order inflow of Rs 145 crores and an export order of Rs 39 crores. The company received export orders from various regions including Europe, South Korea, and the United Kingdom.
As per the latest shareholding pattern data for the December 2023 quarter, the company’s Promoters hold a 42.41 percent stake, and the Foreign Institutional Investors (FIIs), recently reducing their stake, currently hold a 6.74 percent in the company.
Founded in 1998, Data Patterns (India) Limited is engaged in the business of providing defense and aerospace electronics solutions. The company offers various products to the entire spectrum of defense & aerospace such as air, space, land, and sea.
Written by Amit Madnani
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