Data Patterns: Strong Quarter but Neutral Stance Maintained - Motilal Oswal By Investment Guru India | 20 May 2025
Data Patterns (India) delivered a strong Q4FY25 performance, with a 2.2x jump in revenue and 61% growth in adjusted PAT, driven by higher development and production orders. However, Motilal Oswal maintained a Neutral rating on the stock due to rich valuations and a 33% YoY decline in the order book.
“We reiterate our Neutral rating with a TP of Rs 2,530 (premised on 40x FY27E EPS), considering the rich valuation,” the report noted.
Key Financials:
Q4 Revenue: Rs 3.96 billion (vs est. Rs 3.0B)
EBITDA: Rs 1.5 billion (margin: 37.7%)
Adjusted PAT: Rs 1.14 billion (+61% YoY)
Order book: Rs 7.3 billion as of Mar’25
Order delays in FY25 impacted closing order book levels. However, the company expects contracts under BrahMos and Ashwini radar to materialize soon.
Motilal Oswal projects:
25% CAGR in revenue, EBITDA, and PAT over FY25–27
Strategic investments in R&D and new product categories such as spoofing and jamming technologies
“While the medium-term outlook remains constructive, near-term growth will depend on order finalizations,” the note added.
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