Data Patterns revenue witness 96 % jump

Data Patterns revenue witness 96 % jump

Thu, 02/10/2022 - 15:03
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Data Patterns (India) Ltd, a leading electronic solution provider company in Defence sector announced its financial results for the third quarter ended December, 2021.

Commenting on the financial performance Srinivasagopalan Rangarajan, Chairman & Managing Director, Data Patterns (India) Limited, said: We debut with strong earnings in our first results post IPO. In Q3FY22 our topline has doubled and we have maintained high profitability. Our strong order book and bidding pipeline gives us good visibility of strong growth trajectory.”

“Macro environment remains favorable, and we are confident of delivering superior performance over next few years. We maintain our focus on superior project execution, developing high quality products and delivering cost efficient solutions to other customers.”

The Chennai based company has expertise in radars, electronic warfare, avionics, glass cockpit displays, automatic test equipment, communication systems, fire control systems and other areas of cutting edge defence electronics.

On January 24, company received a development order for INR 27-cr for the next generation wide band RF front end units for Electronic Warfare (EW) receivers from DRDO.

The order is for a new program which will allow next generation wide band EW receivers to be configured for Naval, Land and Aerial platforms.  The wide band RF front ends allow faster scanning of enemy emitters to enable better electronic intelligence with enhanced detection and avoidance.  The specifications not only allow faster scan rate but also better dynamic range providing better detection.

In 2019, company signed contract with Ministry of Defence contract for installation and commissioning of nine Precision Approach Radars (PARs) under 'Buy Indian' category. The state-of-the-art radars incorporate latest Phased Array technology. The installation of these radars will enhance the Flight Safety at the terminal stages of aircraft landing at the naval and IAF airfields.

In the civil side, company has designed and manufactured micro satellite NUSAT for Noorul University, Tamil Nadu, launched by PSLV-C38.

The company has a proven in-house design and development capabilities and experience of more than three decades in the defence and aerospace electronics space. During FY21, the company had revenue of INR 2.2 billion and an EBITDA of INR 946 million.

Results of the quarters are dependent on the type of contracts executed in that quarter and hence not comparable across the periods (quarters).

Financial Performance (Financial Year 21-22)

  • Revenue from operations for Q3 grew by 96.0% to INR 438 mn as against INR 224 mn against last FY.
  • EBITDA grew 32x to INR 156 mn as against INR 5 mn
  • PBT came at INR 119 mn in as against loss of INR 43 mn
  • Net Profit for grew by 3x to INR 90 mn as against Loss of INR 44 mn in Q3FY21

Operational Highlights

  • Revenue from Production contracts grew by 106.3% to INR 295 mn in the quarter against INR 143 mn in last FY
  • Revenue from Development contracts for grew by 15.7% to INR 59 mn as against INR 51 mn
  • Revenue from Service contracts increased by 183% to INR 85 mn as against INR 30 mn

Nine Month Performance as against Last FY

  • Net Revenue doubled to INR 1403 mn as against INR 669 mn
  • EBITDA grew 14x to INR 535 mn in as against INR 35 mn
  • PBT for grew 5x to INR 426 mn as against loss of INR 102 mn in
  • Net Profit for grew 4x to INR 322 mn as against loss of INR 104 mn
  • Revenue from Production Contracts grew by 2.5x to INR 1,103 mn in as against INR 442.8 mn
  • Revenue from Development contracts declined by 16.1% to INR 123 mn as against INR 147 mn
  • Revenue from Service contracts for grew by 124.1% to INR 177 mn as against INR 79 mn

Order Book Details

Company’s order book stands at Rs. 5770 mn at the end of Q3. Company received orders worth Rs. 2195 mn in the last nine months.