Data Patterns stand tall amid equity ruins
By Our Special Correspondent
New Delhi, August 29: The Fed commentary-based gloom struck the global equity market, wiping out several billions of dollars of wealth, while the world still battles the monster of inflation exhaling fire with ammunitions sourced from the Russian invasion of Ukraine.
The House Speaker of the US Congress Nancy Pelosi visited Taiwan to jolt China from its arrogance-induced sleep, and also its neighbours, including Japan.
The twin events have set off the global arms race, with countries racing for modernization and catching up with the modern electronic warfare.
Knowing well that Indian imports of the defence goods from Russia stand compromised with Moscow’s proximity with China, India has also embarked on a significant indigenization of the defence productions.
The negative list of the defence goods, which will exclusively be manufactured within the country, is growing in size quarter after quarter.
On Monday, when the Indian equity market was hit hard by the Fed commentary on the rate hike, the private defence manufacturers were livewire, galloping to the prospects of the significant scale up opportunities.
Data Patterns, a recently listed Chennai-headquartered private defence equipment manufacturers, with core competencies in electronics, including chips, was standing tall, reaching a life time high, almost kissing the 1000 mark.
“Data Patterns is a vertically integrated Defence and Aerospace electronics solutions provider catering to the indigenously developed defence products industry. Data Patterns’ key strength is founded on over two decade history of developing high reliability products in this domain with the broad capability to develop and manufacture any high reliability product,” the company states on its website.
Data Patterns is recognized for ability to deliver complex programs in short turnaround times with ease, the company further stated.
The uniqueness of the company is stated to be in its manpower, who are all handpicked from the campus of the technical institutions, and trained on the job by the company.
Srinivasagopalan Rangarajan, the chairman of the company, has said in various interviews that he believes in making his employees stakeholders in the wealth created by the company.
Sources said that the equipment manufactured by Data Patterns are deployed in the cutting edge missiles, radars, satellites and niche areas. The company is also said to be competing with the best of the Israeli electronic defence companies.
The company has reduced its debt to mere Rs 9 crore in the March, 2022 quarter, while its profit has reached Rs 94 crores in the March quarter.
It’s commanding a premium PE of 54.99, while share price had touched its low of Rs 585 on February 26 this year.
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