This share will increase to ₹4135! Brokerage said – Buy it, made a profit of Rs 71 crore in 3 months

New Delhi. Shares of Data Patterns, a maker of electronic products for the military, are expected to rise. International brokerage Jefferies expects the stock to rise by 25 percent. The brokerage has recommended to buy this share. The target price of the shares has also been raised to Rs 4135. Data Patterns recently released its March quarter results. The company’s quarterly results have been good. This is the reason why brokerage confidence in it seems to be increasing.

The company has earned a profit of Rs 71 crore in the March quarter. This is 28% higher than the corresponding quarter of FY 2022-23. Then the profit of the company was Rs 55.4 crore. However, the company’s sales declined by 2 percent. It has come down to Rs 182 crore from Rs 185 crore on annual basis. Jefferies said the company’s EBITDA of Rs 93 crore in the fourth quarter was in line with estimates. The management of the company is expecting a growth of 25% in the next 2-3 years. Data Patterns expects to get orders worth Rs 1,000 crore in FY25.

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A 5-fold increase
According to Jefferies, Data Patterns is a leading manufacturer of electronic products for the defense and aerospace sectors. The brokerage estimates that the company will grow 5 times by FY24-30. Brokerages have started covering data patterns this year. Let us tell you that India is among the top 3 countries in defense spending. However, its costs are very low compared to the US and China. India is the second largest importer of defense equipment. According to Jefferies, there is still plenty of room for spending in the defense sector in India and plenty of opportunities for exports. According to the brokerage, the company can take advantage of this.

Share position
Shares closed down 4.36% at Rs 3,176 on Tuesday, according to DataPattern. This stock has given a return of more than 98% in one year. This means that the investment in this stock has almost doubled in one year. The market cap of the company is around Rs 18,500 crore.

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