Motilal Oswal Maintains 'Neutral' Stance On Data Patterns Despite Strong Q2 Beat — Check Target Price

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Motilal Oswal Report

Data Patterns India Ltd. reported a strong quarter largely due to the Rs 1.8 billion strategic order received by the company (this is not expected to repeat in the coming quarters).

The company’s guidance of higher-order bookings in FY26 supports its near term outlook.

Further, long-term tailwinds, such as:

1. strong order book visibility,

2. differentiated product building competencies,

3. long-term relationships with clients, and

4. a strong pipeline of products, will drive sustainable growth.

It remains confident of a 20-25% revenue growth over the next two-three years.

We estimate a revenue/Ebitda/adjusted PAT CAGR of 28%/28%/28% over FY25-28.

We reiterate our Neutral rating with a target price of Rs 2,950 (premised on 40x Sep’27E earnings per share).

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