Buy Data Patterns (India); target of Rs 1555: ICICI Direct

ICICI Direct's research report on Data Patterns (India)

Data Patterns (India) (DPIL) is a vertically integrated defence and aerospace electronics solutions provider catering to the indigenously developed defence products industry. The company delivered revenue, PAT CAGR of 18.9%, 40.7%, respectively, in FY19-22. FY22 revenues increased 39% YoY with EBITDA margin at 45.4%. FY22 PAT increased 69% YoY to Rs 94 crore.

Outlook

We remain long term positive and retain our BUY rating on the stock. We value Data Patterns at Rs 1555 i.e. 40x on FY25E EPS.