Motilal Oswal's research report on Data Patterns (India)
Data Patterns (DATAPATT) reported a healthy revenue growth of 23% YoY in 2QFY24, fueled by a robust traction within Radars (up 95% YoY) and Avionics (up 3.6x YoY). DATAPATT recorded strong operating performance (EBITDA margin up 340bp YoY), primarily due to an improved gross margin (up 410bp YoY) aided by the favorable business mix.
Outlook
We retain our FY24/FY25/FY26 EPS estimates. Reiterate Neutral with a TP of INR 2,210 (premised on37x FY26E EPS).
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