This share will go up to ₹4135! Brokerage said- buy it, earned profit of Rs 71 crore in 3 months

New Delhi. Shares of Data Patterns, a company making electronic products for the army, are expected to rise. International brokerage Jefferies has expected a rise of 25 percent in this stock. Brokerage has advised to buy this share. The target price of the share has also been increased to Rs 4135. Data Patterns recently released its March quarter results. The company’s quarterly results have been good. That’s why the brokerage’s confidence in it seems to have increased.

The company has made a profit of Rs 71 crore in the March quarter. This is 28 percent more than the same quarter of FY 2022-23. Then the company’s profit was Rs 55.4 crore. However, the company’s sales have declined by 2 percent. It has come down from Rs 185 crore to Rs 182 crore on an annual basis. Jefferies says that the company’s EBITDA of Rs 93 crore in the fourth quarter was in line with the estimate. The company’s management is expecting a growth of 25 percent for the next 2-3 years. Data Patterns expects to get orders worth Rs 1000 crore in FY 25.

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5 times growth
According to Jefferies, Data Patterns is a leading company manufacturing electronic products for the defense and aerospace sectors. The brokerage estimates that this company will grow 5 times by FY 24-30. Brokerages have started covering data patterns this year. Let us tell you that India is among the top 3 countries in terms of spending on defence. However, its expenditure is much less than that of US and China. India is the second largest defense equipment importer. According to Jefferies, there is still a lot of space for expenditure in the defense sector in India and there is also a lot of opportunity for export. According to brokerage, the company can take advantage of this.

position of shares
According to Data Patterns, the stock closed at Rs 3176 on Tuesday with a decline of 4.36 percent. In one year, this stock has given a return of more than 98 percent. This means that in one year this stock has almost doubled the investment. The market cap of the company is around Rs 18500 crore.

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