Slides
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Data Patterns ( India ) Limited Investor Presentation Q4FY25 – May 2025
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Company Overview Quarter Highlights Journey & Background Outlook Financials 1 2 3 4 5 Content 2
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Data Patterns: 3 Decades of Expertise 3 • Fully integrated defense and aerospace electronics solution provider • Focused on in-house design prototype testing and qualification, production and manufacturing of high reliability electronics systems • Domain expertise in Radars, Electronics Warefares, Communication systems, Avionics, Satellite and Test Equipments. Servicing to the customers such as MOD, DRDO, DPSUs and Private sectors including international clients Incorporated in 1998 1,058 Engineers (287 people plan to hire in FY26) 33% Revenue and 31% EBITDA CAGR (FY21-25) 61% Gross and 39% EBITDA Margins (FY25) 16% ROE and 18% ROCE (FY25) Rs 7,298 Mn Order Book as on 31st March From Design to Delivery Senior personnel associated with Company for more than 2 decades
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Strong Outlook & Positioning Across the Portfolio 4 Radars • 9 Precision Approach Radars successfully delivered and installed to MOD for Army and Navy • Designed building blocks to complete Radar systems in India • Building Blocks in Signal Processing, Antenna, Transmit/Receive modules, etc. • Focus on Fire Control Radars, X-Band Radars and smaller Radars for UAVs • RF and IR Seekers for Missiles • Complete system and IP developed in house • Export Potential Advanced light helicopter Radar Fire Control Radar for MIG-29 Fire Control Radar for Su-30 Electronic Warfare • Developed state of the art ESM Receivers from 1MHz to 40GHz • Both COMINT and ELINT including DF can be used in Truck Mounted Systems / UAV Based ESM Systems and Jammers • Airborne Wide Band Jammer Pods • Requirement across Army, Air Force and Navy Communication Systems • Developed systems for land, air and satellite platforms • Developed SDR Platform for • Fighter Aircrafts • Radio Relay for Airborne Platforms/UAVs • Land Based Radio Relays • Military Radars, Radio Relays, and other sensors. are being procured under ‘Make in India’ Category • Requirement across Army, Navy and Air Force Existing Successful development Demonstrated Capabilities Potential Opportunities Photos Radar Warning Receiver Airborne Software Defined Radio 5 Channel Search Receiver Manpack Radio VUHF Manpack Software Defined Radio Airborne Programmable Radio Hardware • Delivered COMINT and ELINT systems and self protection suit for land, mobile and fighter Reconnaissance aircraft and aerostat Jammer Pod
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Strategic Priorities 5 Moving up the Value Chain through building Full Systems: Using reusable building blocks Leverage Existing Competencies and enables scalability: Creating Additional Product Categories Expanding Geographies Investments in Products, Technology and Capex • Make the complete systems from building blocks, designed in-house with IP • Developing future ready products • More than Rs 100 crs invested on new product development; which are at advanced stage of readiness • Exported products to Europe and East Asia • Around Rs 160 crs invested on capex in last 5 years • Planning for additional Rs 150crs capex over next two years Concentration on building full products leveraging existing Domain expertise and availability of in-house building blocks Confident on growing its existing product profile and expects additional revenue generation by tapping the larger market opportunities from new developments Produced and delivered Transportable Precision Approach Radars and Search & Track Radars to international customers Developing in house technologies and products for increasing TAM Maximising Stakeholder Value Focused on delivering Profitable Growth and Strong Cash Generation
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FY25 Overview 6 14.7% 12.9% 16.5% 55.9% 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Revenue Split (%) 51.9% 16.7% 3.5% 1.6% 5.9% 3.1% 5.0% Radar EW AMC FCS Avionics ATE Naval Others Rs 7,084mn Rs 7,084mn
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Data Patterns- Outlook 7 20-25% Revenue Growth over next two-three years. 36% Revenue growth and High EBITDA margins at 39% in FY25 Looking forward, we remain committed to maintain a revenue growth rate of 20-25% and EBITDA margins at around 35-40% in the next year. 01 02 03 04 05 Build marketing organisation for exports Continuing the product development to build full systems to address larger TAM Strong Order Book in Pipeline at Rs 20-30bn over next 18- 24 months Build infrastructure to address future contracts Maintain Net debt free status High Returns to Shareholders
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8 Mr. Srinivasagopalan Rangarajan Promoter, Chairman & Managing Director CMD’s Comment on Full Year’s Performance “We are happy to have delivered an excellent growth in revenue while maintaining consistent bottom line performance. Q4 results were on expected lines. EBITDA for the quarter and full year 2024-25 was also as per our guidance. This achievement underscores the strength of our strategy, execution capabilities and commitment to operational excellence. Looking ahead, we are optimistic about robust order inflows and remain confident in our ability to sustain this growth trajectory.”
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Q4FY25 Result Highlights Rs. 3,962 Mn Revenue Rs. 1,495 Mn EBITDA 49%* Gross Margin 38% EBITDA Margin 16% ROE (FY25) 18% ROCE (FY25) Strong Balance Sheet; Net Debt Free Company Rs. 7,298 Mn Strong Order Book (Q4FY25) QIP funds utilized for Product Development in Radar, EW, and Communication system R&D Enhanced infrastructure, Make in India policies, QIP investment in complete products Rs. 4,530 Mn Cash, Bank & Investment (as on 31st Mar) 9 * Due to low margin strategic product delivery. (Full year Gross Margin is 61%)
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54% 53% 42% 43% 4% 4% FY24 FY25 Rs 5,198 Mn Rs 7,084 Mn 10 Diversified Revenue Profile 52% 58% 90% 59% 42% 46% 31% 2% 37% 57% 2% 11% 8% 4% 1% Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Production Development Service Rs 1,170Mn Rs 1,823Mn Rs 1,041 Mn Rs 910 Mn Rs 3,962 Mn
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19.7% 60.1% 0.8% 7.5% 0.9% 0.3% 2.8% 7.8% Products EW Radar ATE Avionics AMC Naval Systems FCS Services and Others 55.3% 3.4% 2.9% 9.0% 27.3% 2.1% Customers DRDO BrahMos Exports MOD DPSU Others 11 Q4FY25 Revenue Breakup Rs 3,962 Mn Rs 3,962 Mn
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12 Financial Performance Particulars (Rs Mn) Q4FY25 Q4FY24 YoY(%) Q3FY25 QoQ(%) FY25 FY24 YoY (%) Net Revenue 3,962 1,823 117.4 1,170 238.5 7,084 5,198 36.3 Cost of materials consumed 1,817 507 258.2 785 131.4 3,513 1,808 94.3 Purchase of Stock in trade Changes in Inventories,WIP & SIP 207 5 -555 -752 -157 Total Raw Material Cost 2,023 512 295.4 231 777.4 2,761 1,651 67.2 Gross Profits 1,939 1,311 47.9 940 106.3 4,323 3,547 21.9 Employee Benefit Exp 295 265 11.4 292 1.3 1,141 990 15.2 Other Expenses 149 116 28.2 108 37.8 432 341 26.8 EBITDA 1,495 930 60.7 540 176.7 2,750 2,216 24.1 Depreciation 39 70 -44.2 35 11.8 139 161 -13.7 EBIT 1,456 861 69.2 506 188.0 2,611 2,055 27.1 Other Income 106 123 -14 114 -6.6 463 460 0.7 Interest 31 30 3 32 -1.9 121 93 29.5 Exceptional items PBT 1,531 953 60.6 588 160.6 2,953 2,422 21.9 Tax 390 242 61.1 141 177.0 735 605 21.5 Net Profit 1,141 711 60.5 447 155.4 2,218 1,817 22.1 Reported EPS (Rs) 20.4 12.7 - 8.0 - 39.6 32.5 Operating Cost as a % of Sales Q4FY25 Q4FY24 YoY(bps) Q3FY25 QoQ(bps) FY25 FY24 YoY (bps) Raw Material Cost 51.1 28.1 2299 19.7 3136 39.0 31.8 721 Staff Cost 7.5 14.5 -709 24.9 -1747 16.1 19.0 -294 Other Expenses 3.8 6.4 -261 9.2 -546 6.1 6.6 -46 Margins (%) Q4FY25 Q4FY24 YoY(bps) Q3FY25 QoQ(bps) FY25 FY24 YoY (bps) Gross Margin 48.9 71.9 -2299 80.3 -3136 61.0 68.2 -721 EBITDA 37.7 51.0 -1330 46.2 -843 38.8 42.6 -381 EBIT 36.8 47.2 -1047 43.2 -645 36.9 39.5 -268 PBT 38.6 52.3 -1365 50.2 -1155 41.7 46.6 -490 NPM 28.8 39.0 -1021 38.2 -937 31.3 35.0 -364
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80% 62% 31% 45% 51% 43% 40% 47% 51% 6% 25% 64% 51% 40% 53% 55% 47% 40% 14% 13% 5% 4% 9% 4% 5% 6% 9% FY 21 FY 22 FY 23 FY 24 FY25 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Orderbook Build-up Production Development Services Rs 4,979 Mn Rs 4,761 Mn Rs 9,241 Mn Rs 10,831 Mn 13 Order Book Rs 10,171 Mn Order book as on date: Rs 860 crs Including Orders Negotiated and Pending Receipt of Rs 92 crs Rs 9,714 Mn Rs 10,947 Mn Rs 7,298 Mn Rs 7,298 Mn
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14 10,831 3,551 7,298 FY24 Order Book Order Inflow in FY25 Order executed in FY25 Closing Order Book Order Book Build-Up Order Book Build Up in FY25 Diversified Order Book 55.5%32.1% 6.1% 0.6% 1.7% 0.4% 2.7% 0.8% 0.1% Radar Avionics AMC ATE FCS Navel System Services Tank Others International Order Book is Robust at Rs 107crs 7,084 Rs. 7,298 Mn
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Order Inflows – Q4FY25 and FY25 Major order received in Q4FY25 Major order received in FY25 Product Customer Order Type Value (Rs Mn) AMC MOD Service 140 AVIONICS Export Production 28 AVIONICS DPSU Production 28 AMC CUSAT Service 24 Radar ITR Production 13 AMC DoS Service 11 AMC Brahmos Service 10 Product Customer Order Type Value (Rs Mn) EW DPSU Production 798 Radar MOD Production 531 AVIONICS Export Production 530 AVIONICS Export Production 157 FCS Brahmos Development 144 AMC MOD Service 140 AMC MOD Service 140 AMC MOD Service 140 ATE DRDO Production 113 AVIONICS ADA Development 103 86% 34% 8% 6% 66% Q4FY24 Q4FY25 Service Development Production Rs. 3,025 Mn Rs. 314 Mn 70% 73% 26% 12% 3% 16% FY24 FY25 Rs 6,788 Mn Rs. 3,551 Mn 15 Order Inflow During Q4 & FY25
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Profit Before Taxes (INR Mn) and Margins (%) Revenue (INR Mn) EBITDA (INR Mn) and Margins (%) Net Profit (INR Mn) and Margins (%) 61% 61% 16 Robust Financial Performance 1,823 1,170 3,962 Q4FY24 Q3FY25 Q4FY25 930 540 1,495 Q4FY24 Q3FY25 Q4FY25 61% 953 588 1,531 Q4FY24 Q3FY25 Q4FY25 52% 50% 39% 39% 38% 29% 711 447 1,141 Q4FY24 Q3FY25 Q4FY25 51% 46% 38% 117%
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17 Corporate Overview
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18 Over Last Three Decades • Developed a Fire Control System for Brahmos • Designed & developed the launch pad countdown system • Designed and developed complete Radar Capability • Data Patterns has a long history of association with India Space Organizations. Data Patterns built a Nano Satellite which was deployed in 2017. • Developed EW receivers, Satellite and Ground Station • Designed wide open RWR and ELINT for airborne platforms • Developed Glass Cockpit Displays / Avionics • Upgradation of Tracking Radars • Developed RF and Microwave capabilities allow entry to building complete systems • Successful IPO Launch • Initiated expansion of manufacturing facility with doubling of available floor area • Started building of capacity to handle large and heavy equipment and integration of large radars and mobile EW systems, satellite integration facility • Enhanced product line with Radar receiver for other aircrafts • Designed radio relays, Engine control Units, HF Bands Products • Developed Software defined Radios for Land and Air • Maritime Patrol Radar • Developed Satellites and Satellites Subsystems • Delivered components for SONARS Servo and Actuator Control System • Tropo Modems ADSB and host of other products 2001 2021-25 Incorporated in 1998 • Seeker for Brahmos Missile successfully tested • Major products developed are at advanced stages of completion • Continuing with strategic product development to address the increasing market opportunity
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19 Operating in High Growth Categories Radars • Surveillance Radars • Weather Radars • Coastal Surveillance Radars • Fire Control Radars Electronic Warfare • Surveillance and intelligence gathering (“COMINT and ELINT”) & Follow-on Jammers • Airborne EW Suits consisting of Radar warner and Jammer Pods COTS modules designed in context of reusable building blocks for building Military Electronics systems with a quick turnaround Time Commercial off the Shelfs Avionics • Light Combat Aircraft (“LCA”), • Intermediate Jet Trainers • Light Utility Helicopters (“LUH”) Communication ATE and Satellites • Underwater electronics / Communications / Other Systems • Automated Test Equipment (ATE) • Small and Nano Satellites
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2,240 3,108 4,534 5,198 7,084 FY21 FY22 FY23 FY24 FY25 920 1,409 1,718 2,216 2,750 FY21 FY22 FY23 FY24 FY25 High Gross Profits (Rs Mn) 4,979 4,761 9,241 10,831 7,298 FY21 FY22 FY23 FY24 FY25 10%+~ % growth CAGR FY21-FY25 1,535 2,247 2,825 3,547 4,323 FY21 FY22 FY23 FY24 FY25 ~ 33% Revenue CAGR from FY21-FY25 ~ 31% EBITDA CAGR from FY21-FY25 Rs mn 20 Consistent Track Record of Profitable Growth Order Book (Rs Mn) Revenue from operations (Rs Mn) EBITDA (Rs Mn)
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… 939 1,240 1,817 2,218 FY21 FY22 FY23 FY24 FY25 556 31% 24% 17% 15% 16% 38% 33% 22% 16% 18% FY21 FY22 FY23 FY24 FY25 ROE ROCE ROE and ROCE (%) Rs Mn Improving Yearly PAT 21 Profitability ~ 41% PAT CAGR from FY21-FY25
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254 233 308 280 307 FY21 FY22 FY23 FY24 FY25 20 45 36 35 43 FY21 FY22 FY23 FY24 FY25 120 141 155 187 164 FY21 FY22 FY23 FY24 FY25 355 329 427 432 428 FY21 FY22 FY23 FY24 FY25 22 Working Capital Debtor Day Creditor Days Inventory Days Cash Conversion Cycle (Days)
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23 A mission- driven workforce with a culture of innovation Modern infrastructure to address large system integration and test Fully operational integrated manufacturing and test facilities • Large Systems Integration Hangar • Augmented Environmental Test Infrastructure • Complete Radar Integration • Electronic Warfare Vehicle Integration • Additional EMS Line • Clean Room for Satellite Integration • Additional Space For Design and Development Resources • 10.28 Acres of land in Chennai, SIPCOT ~200,000 sq.ft- Aggregate of built-up area of manufacturing facilities • 20 Dedicated Mechanical assembly stations to assemble small and large systems and various others • Dedicated 70 workstations for testing modules and small systems • 100,000 class clean room • Capability to handle complex boards with 22 layer, 6k components and 21k solder points • EMS assembly capacity of 600 boards per day • Fully operational EMI and EMC test facility State of the Art Infrastructure
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Mr. Srinivasagopalan Rangarajan Promoter, Chairman & Managing Director Ms. Rekha Murthy Rangarajan Promoter, Whole Time Director Mr. Vijay Ananth K Whole Time Director, COO & Chief Information Security Officer Mr. Desinguraja Parthasarathy Chief Technology Officer Mr. Thomas Mathuram Susikaran SVP – Business Development Mr. Venkata Subramanian Venkatachalam Chief Financial Officer 24 Highly Reputed & Experienced Management Team
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25 Annexure
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Historical Statement of Profit and Loss Particulars (Rs. Mn) FY21 FY22 FY 23 FY24 FY25 Revenue from Contract with Customers 2,240 3,109 4,535 5,198 7,084 Other Income 26 40 92 460 463 Total Revenue 2,266 3,148 4,627 5,658 7,547 Expenses: a) Cost of materials consumed 630 916 1,941 1,808 3,513 b) Changes in inventories of FG, WIP and SIT 74 -55 -232 -157 -752 c) Employee benefits expenses 484 624 790 990 1,141 d) Finance cost 145 110 77 93 121 e) Depreciation / Amortization 56 66 85 161 139 f) Other expenses 131 214 317 340 432 Total Expenses 1,520 1,874 2,978 3,236 4,594 Profit before tax 745 1,274 1,648 2,422 2,953 Tax expense 190 334 409 605 735 Profit(Loss)for the period 556 940 1,240 1,817 2,218 Other Comprehensive Income -10 -12 -10 -6 -19 Total Comprehensive Income for the year 546 928 1,230 1,811 2,199 PAT Margin % 24.8% 30.2% 27.3% 35.0% 31.3% EBITDA 920 1,409 1,719 2,216 2,750 EBITDA margin% 41.1% 45.3% 37.9% 42.6% 38.8% Return on Net Worth 30.70% 24.01% 14.24% 15.00% 16% Total Debt 332.21 67.7 7 0 0 Debt to Equity 0.1 -0.3 -0.5 0.0 0.0 26
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Historical Balance Sheet Particulars (Rs. Mn) Mar-21 Mar-22 Mar-23 Mar-24 Mar- 25 ASSETS Non-current assets (a) Property, Plant and Equipment 292 442 913 1,206 1,411 (b) Capital Work in Progress - 173 14 72 128 (c) Intangible Assets 6 14 20 427 1,125 (d) Right of Use Assets 34 20 188 278 299 (e) Other Financial Assets 341 1,220.4 900 926 914 Total non-current assets 673 1,868 2,034 2,909 3,877 Current assets (a) Inventories 738 1,198 1,930 2,668 3,185 (b) Financial Assets (i) Investment - - 557 2,622 3,266 (ii) Trade receivables 1,559 1,983 3,825 3,988 5,964 (iii) Cash and cash equivalents 88 1,771 2,152 881 377 (iv) Other Bank Balances - - 3,326 3,046 887 (iv) Other Financial Assets 51 88.6 142 21 21 (c) Other current assets 177 158.3 383 783 814 Total current assets 2,613 5,199 12,315 14,009 14,514 TOTAL ASSETS 3,286 7,067 14,349 16,918 18,391 Particulars (Rs. Mn) Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 EQUITY AND LIABILITIES Equity (a) Share capital 17 104 112 112 112 (b) Other Equity 2,062 5,641 11,559 13,130 14,970 Total equity and liabilities 2,079 5,745 11,671 13,242 15,082 Liabilities Non-current liabilities (a) Financial Liabilities (i) Borrowings 98 7 3 - - (ii) Lease Liabilities/ others 24 11 4 29 51 (b) Provisions 85 111.6 102 101 123 (c) Deferred Tax Liability (Net) 9 - - 23 225 (d) Other Non Current liabilities 274 157 1,307 21 143 Total non-current liabilities 490 287 1,416 174 542 Current liabilities (a) Financial Liabilities (i) Borrowings 235 60 5 - - (ii) Trade payables 120 382 446 501 838 (iii) Other Financial Liabilities 40 221 103 59 74 (iv) Lease Liabilities 15 13 13 7 10 (b) Other current liabilities 246 227 664 2,891 1,794 (c) Provisions 10 7 31 45 51 (d) Current tax Liabilities 51 125 - - - Total current liabilities 717 1,035 1,262 3,502 2,767 TOTAL EQUITY AND LIABILITIES 3,286 7,067 14,349 16,918 18,391 27
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Historical Cash Flow Statement Particulars (Rs. Mn) FY21 FY22 FY23 FY24 FY25 Net Profit before tax 745 1,274 1,648 2,422 2953 Adjustments for : Add : Depreciation 56 66 85 161 139 Add : Interest And Finance Charges 145 110 77 93 121 Add : Liquidated Damages (LD) Written Off - 13 45 9 23 Add : Unrealized Forex Gain/Loss - 3.9 11 -0.4 Less: Profit on sale of assets -1 - - Less: Profit/Loss on sale of Mutual Funds - - -8 -55 -90 Less: Interest Income -22 -40 -84 -296 -199 Others -97 -153 Operating Profit Before Working Capital Changes 922 1,427 1,774 2,238 2,783 Adjustments For Working Capital Movements : -298 -621.5 -1,412 -213 -2,976 Cash Generated From Operations 624 806 362 2,025 -193 Direct Taxes (Paid) /adjusted -190 -284 -534 -631 -706 Net Cash flow From Operating Activities (A) 434 522 -172.4 1,394 -899 Cash Flow From Investing Activities (B) -87 -1,198 -3,828 -2,239 890 Cash Flow From Financing Activities (C) -449 2,359 4,381 -425 -496 Net Increase in Cash & Cash Equivalents (A+B+C) 73 1,683 381 -1,270 -505 Cash & Cash Equivalent At The Beginning Of The Year 15 88 1,771 2,152 881 Cash & Cash Equivalent At The End Of The Year 88 1,771 2,152 881 377 28
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Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by Data Patterns (India) Limited (the “Company”) solely for the information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. Certain statements in this presentation concerning our future growth prospects are forward looking statements which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The Risk and uncertainties relating to the statements include, but are not limited to, risks and uncertainties regarding fiscal policy, competition, inflationary pressures and general economic conditions affecting demand / supply and price conditions in domestic and international markets. The company does not undertake to update any forward –looking statement that may be made from time to time by or on behalf of the company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. The Company does not make any promise to update/provide such presentation along with results to be declared in the coming years. 29
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Questions? Sheetal Khanduja sheetal@GoIndiaadvisors.com M:+91 9769364166 Monali Jain monali@GoIndiaadvisors.com M:+91 8078675682