DATAPATTNS
Small CapData Patterns (India) Limited
Industrials
Data Patterns (India) Limited is a fully integrated defense and aerospace electronics solution provider with three decades of expertise. It focuses on in-house design, prototyping, testing, production, and manufacturing of high-reliability electronics systems, serving MOD, DRDO, DPSUs, private, and international clients.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Mixed fundamentals, management trust is supportive, price trend is neutral, and recent execution is mixed.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 31 Mar 2026
Average · 40/100Rev -13% YoY · PAT +21% YoY · margin expansion · +99% QoQ · operating leverage
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹345 Cr | -12.9% | +99.4% |
| EBITDA | ₹193 Cr | +29.5% | +138.3% |
| Operating margin | 56.0% | +1800 bps | +900 bps |
| PAT | ₹138 Cr | +21.1% | +137.9% |
| PAT margin | 40.0% | +1121 bps | +647 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Where growth can come from, and what can break the case
Q4 FY26 revenue declined 13.0% YoY to Rs 3,449 Mn but grew 99.2% QoQ. EBITDA rose 29.0% YoY and 148.5% QoQ to Rs 1,928 Mn, with margins at 55.9%. FY26 revenue grew 30.6% YoY. Order book reached Rs 9,265 Mn, providing strong visibility.
Data Patterns delivered strong FY26 growth and a record order book of Rs 9,265 Mn, providing revenue visibility. While Q4 revenue declined YoY, sequential growth was robust, indicating execution momentum. High margins and net debt-free status are positives. Management's 20-25% revenue growth outlook and capex plans support future expansion, but the Q4 YoY revenue dip warrants monitoring.
Q4FY26 Revenue Breakup by Product
Latest issuer-disclosed distribution across 9 reported categories.
Building Full Systems
Concentration on building full products leveraging existing domain expertise and in-house building blocks.
New Product Developments
Expects additional revenue generation by tapping larger market opportunities from new developments.
Exports
Produced and delivered Transportable Precision Approach Radars and Search & Track Radars to international customers.
Make in India Category
Military Radars, Radio Relays, and other sensors are being procured under ‘Make in India’ Category.
Future Capex Plan
Planning for additional Rs 150 crores capex over next two years.
Manufacturing Facility Expansion
Initiated expansion of manufacturing facility with doubling of available floor area.
Large Systems Integration Capacity
Started building capacity to handle large and heavy equipment, integration of large radars, mobile EW systems, and satellite integration facility.
Enhanced Infrastructure
Company benefits from enhanced infrastructure.
Make in India Policies
Government's 'Make in India' policies support domestic defense manufacturing.
Import Bans
Import bans on defense items create opportunities for domestic players.
Fiscal Policy
Future growth prospects involve risks and uncertainties regarding fiscal policy.
Competition
Future growth prospects involve risks and uncertainties regarding competition.
Inflationary Pressures
Future growth prospects involve risks and uncertainties regarding inflationary pressures.
General Economic Conditions
Future growth prospects involve risks and uncertainties regarding general economic conditions affecting demand/supply and price.
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
The company operates in project-based defense electronics, where revenue recognition can be lumpy, making QoQ important for sequential execution momentum. However, annual performance (FY26 YoY) and Q4 YoY are crucial for assessing overall growth and comparing against previous year's strong quarter.
Order Book (Q4FY26)
Rs 9,265 Mn as on 31st March 2026.
FY26 Order Inflow
Rs 11,214 Mn.
Q4FY26 Order Inflow
Rs 5,280 Mn.
FY26 Gross Margin
63.2%.
Revenue Growth Target
Committed to maintain a revenue growth rate of 20-25% over next two-three years.
EBITDA Margin Target
Committed to maintain EBITDA margins at around 35-40% in FY27.
Order Book Pipeline
Strong Order Book in Pipeline at Rs 20-40bn over next 24 months.
Net Debt Free Status
Committed to maintain Net debt free status.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Revenue Growth | FY26 YoY: 30.6%; Q4FY26 YoY: -13.0% | Sustaining 20-25% growth over the next two-three years. |
| EBITDA Margin | FY26: 40.1%; Q4FY26: 55.9% | Maintaining 35-40% in FY27. |
| Order Book | Rs 9,265 Mn (Q4FY26) | Conversion of Rs 20-40bn pipeline into firm orders over next 24 months. |
| Capex Execution | Rs 185 Cr invested in last 5 years | Timely deployment of additional Rs 150 Cr capex over next two years. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
56NeutralSMA20 +38.6% / mo · near 52W high
Technical chart
DATAPATTNSdaily · 5Y+65.4%Technical trend read
Bullish setupTrend is constructive — long-term trend unclear. RSI 67.
- SMA20 rising (~2.3% over last month) — short-term momentum positive.
- RSI(14) at 67 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- Within 3% of 52-week high — testing resistance.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation, score drivers, trust methodology, financials, and peers
Use these sections after reviewing the decision summary, latest result, thesis, management accountability, and technical timing above.
Fundamental score breakdown
FAIR VALUEWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Piotroski is strong at 8/9.
- Growth contributes 17/25 to the score.
- Quality contributes 13/20 to the score.
Main drags
- Penalty bucket subtracts 1 points.
- Fair-value margin of safety is negative at -109.0%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
Execution business valuation: EV/EBITDA plus order and working-capital risk
Capital-intensive execution stories need cash-flow and balance-sheet checks alongside valuation.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: +0 points.
Factor attribution
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Healthy Trust: Claim history is still being built. It ranks around the 91st percentile of the scored universe and 92nd percentile within Industrials. No major sub-score weakness stands out.
High Trust Lite: Promoter pledge is zero. Key concern: OPM spread across recent quarters is 34%.
Generally investable credibility. Look for weak sub-scores before increasing position size.
overall median 67 · Industrials: 92nd pctile, median 68 · Small: 94th pctile, median 65
100 documents indexed, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Healthy Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.3%.
- ▸6 years of positive FCF.
- ▸Debt/equity is 0.00.
Trust risks
- ▸OPM spread across recent quarters is 34%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Intrinsic value
Fundamentals
Valuation
- P/E
- 86.20
- P/B
- 13.59
- EV/EBITDA
- 59.42
- Market Cap
- 23584.00Cr
Profitability
- ROE
- 16.90%
- ROCE
- 23.30%
- ROA
- 14.74%
- Dividend Y
- 0.19%
Growth (CAGR)
- Revenue 5Y
- 33.00%
- EPS 5Y
- 38.00%
- Revenue 3Y
- 27.00%
- EPS 3Y
- 30.00%
Balance Sheet
- Debt/Equity
- 0.00
- Interest Coverage
- 31.17×
- Altman Z
- 8.83
- Book Value
- 310.00
Cash Flow
- FCF Yield
- 0.33%
- FCF Positive Y
- 6/5
- OCF
- 80.00 Cr
- EPS TTM
- 48.47
Shareholding
- Promoter Hold
- 42.41%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 95%
Financial History
Updated 9/6/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.