Data Patterns (India) Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Data Patterns (India) Ltd filed with BSE on 22 May 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Data Patterns reported FY26 revenue growth of 31% year-on-year to Rs 925 crores, with EBITDA up 35% to Rs 371 crores and PAT up 22% to Rs 271 crores. Order inflows for the year rose 216% year-on-year to approximately Rs 1,121 crores, and the order book including negotiated orders stood at around Rs 2,062 crores. Management discussed export progress, ongoing product development across radars, electronic warfare and seekers, and fielded extensive analyst questions on order timing, margins and execution cycles.
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Numbers mentioned
Order inflows: approximately INR1,121 crores (FY26)
p. 3
“the company recorded order inflows of approximately INR1,121 crores, increase of 216% year-on-year, reflecting healthy demand across multiple defence and aerospace programs”
S. Rangarajan, page 3 of the filed PDF · View the filing
Order book: approximately INR2,062 crores
p. 3
“The order book as on date stands at approximately INR2,062 crores, including orders negotiated, which provides a strong revenue visibility over the coming years”
S. Rangarajan, page 3 of the filed PDF · View the filing
Revenue: INR925 crores (FY26)
p. 5
“Revenue of FY26 grew by 31% year-on-year to INR925 crores, while EBITDA increased by 35% year-on-year to INR371 crores”
S. Rangarajan, page 5 of the filed PDF · View the filing
Gross profit: INR585 crores (FY26)
p. 5
“Gross profit for the year increased by 35% year-on-year to INR585 crores due to increase in revenue and favorable product mix, while gross margins improved to 63 percentage compared to 61 percentage in FY25”
Venkata Subramanian, page 5 of the filed PDF · View the filing
EBITDA: INR371 crores (FY26)
p. 6
“EBITDA for FY26 stood at INR371 crores as against INR275 crores in the previous year, reflecting a growth of 35% year-on-year”
Venkata Subramanian, page 6 of the filed PDF · View the filing
PAT: INR271 crores (FY26)
p. 6
“Profit after tax for FY26 stood at INR271 crores, registering a growth of 22% year-on-year, while PAT margin remains healthy at 29%”
Venkata Subramanian, page 6 of the filed PDF · View the filing
Q4 revenue: INR345 crores (Q4 FY26)
p. 6
“Q4 '26 revenue stood at INR345 crores, while the revenue was lower by minus 13% year-on-year due to timing of execution of certain programs, revenue nearly doubled sequentially with a growth of 99 percentage quarter-on-quarter”
Venkata Subramanian, page 6 of the filed PDF · View the filing
Q4 gross margin: 73% (Q4 FY26)
p. 6
“Gross margin for Q4 FY26 improved significantly to 73% as compared to 49% in Q4 of last year”
Venkata Subramanian, page 6 of the filed PDF · View the filing
Q4 EBITDA: INR193 crores (Q4 FY26)
p. 6
“EBITDA for the quarter stood at INR193 crores with EBITDA margins at 56%, while PAT for the quarter stood at INR139 crores with PAT margin of 40 percentage”
Venkata Subramanian, page 6 of the filed PDF · View the filing
Cash conversion cycle: 365 days (FY26)
p. 6
“Our cash conversion cycle improved meaningfully to 365 days in FY26 from 428 days in FY25, reflecting strong execution, better inventory management and continuous focus on disciplined working capital control”
Venkata Subramanian, page 6 of the filed PDF · View the filing
Export order book: approximately INR53 crores
p. 4
“The export order book as on date stands at approximately INR53 crores, and exports remain an important strategic pillar of our long-term growth road map”
S. Rangarajan, page 4 of the filed PDF · View the filing
Negotiated orders: INR1,090 crores
p. 12
“So put together INR1,090 crores as on date as we speak. So including that, our order book today stands at INR2,000 crores plus, INR2,062 crores to be precise”
Venkata Subramanian, page 12 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Revenue growth — 20%-25% · short term
stated firmly by S. Rangarajan
p. 5
“We continue to target revenue growth of around 20%, 25% over the short term while maintaining healthy EBITDA margins of 38% to 40% and preserving our net cash status”
S. Rangarajan, page 5 of the filed PDF · View the filing
EBITDA margin — 38% to 40% · short term
stated firmly by S. Rangarajan
p. 5
“We continue to target revenue growth of around 20%, 25% over the short term while maintaining healthy EBITDA margins of 38% to 40% and preserving our net cash status”
S. Rangarajan, page 5 of the filed PDF · View the filing
Additional single-vendor contracts fructifying into orders — INR1,900 crores · this financial year
stated conditionally by S. Rangarajan
p. 4
“Other than the order book, additional single vendor contracts based on already supplied products, which can fructify into contract this financial year stands at INR1,900 crores”
S. Rangarajan, page 4 of the filed PDF · View the filing
Negotiated order finalization — next 1 to 2 months
stated conditionally by S. Rangarajan
p. 7
“I think in the next 1 to 2 months' time, we should expect the contracts to happen. Unless, of course, there is some -- see these are all government customers.”
S. Rangarajan, page 7 of the filed PDF · View the filing
Cash conversion cycle — 320 to 340 days · going forward
stated as an aspiration by Venkata Subramanian
p. 12
“we expect it to settle down at 340 to -- I mean 320 to 340 days going forward”
Venkata Subramanian, page 12 of the filed PDF · View the filing
Global OEM contracts — next 2 to 4 months
stated conditionally by S. Rangarajan
p. 8
“I think in the next 2, 3 months' time or 4 months' time, we should start getting some contracts from these global OEMs, which will lead into some development initiatives initially”
S. Rangarajan, page 8 of the filed PDF · View the filing
BrahMos seeker production orders — next 4 to 5 months
stated conditionally by S. Rangarajan
p. 9
“Once there the execution is completed, I think in the next 4, 5 months' time, the production orders would start coming in.”
S. Rangarajan, page 9 of the filed PDF · View the filing
Company scale — multiple thousand crore company · coming years
stated as an aspiration by S. Rangarajan
p. 15
“we can scale the company very quickly into multiple thousand crore company rather than scale it 20% year-on-year”
S. Rangarajan, page 15 of the filed PDF · View the filing
IMD radar development and service order execution cycle — over 18 months
stated firmly by S. Rangarajan
p. 14
“The requirement is between over 18 months. We're trying to see how fast we can deliver it.”
S. Rangarajan, page 14 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said margins vary by contract, with some priced lower strategically to build capability, and cautioned against a single guidance figure across the order book.
Answered by S. Rangarajan
Asked by Dipen Vakil: What led to the strong Q4 EBITDA margin and what margins can be expected on the order book going forward?
p. 7
“you need to look at not -- you can't give a direct guidance on contract to contract, how it will go in terms of EBITDA or margin because this is the overall business cycle”
S. Rangarajan, page 7 of the filed PDF · View the filing
Management said inquiries are coming from Europe and the US, and that BrahMos seeker deliveries have been on time with no expected revenue impact.
Answered by S. Rangarajan
Asked by Rishika: What is the traction with global OEMs and what is the status of the BrahMos seeker order given media reports of delays?
p. 9
“Whatever orders was given in 3, 4 months back in BrahMos seeker, we've already delivered. And by March, we delivered it.”
S. Rangarajan, page 9 of the filed PDF · View the filing
The CFO said the cash conversion cycle is improving and expected to settle at 320-340 days, but declined to give a precise multi-year cash flow figure this early.
Answered by Venkata Subramanian
Asked by Akshay: What cash flow from operations conversion is expected over the next 2-3 years given weak recent cash generation?
p. 11
“The cash conversion cycle today is at 365 days. We are seeing improvements year-on-year.”
Venkata Subramanian, page 11 of the filed PDF · View the filing
Management denied stating any delays, clarifying it had only discussed expected repeat orders, and said execution had in fact been strong.
Answered by S. Rangarajan
Asked by Garvit Goyal: Were certain programs delayed in Q4 and deferred to FY27, and if so why is guidance still only 20-25%?
p. 13
“There's not a poor execution. Actually execution has been actually very good. It's not poor. It is a good execution.”
S. Rangarajan, page 13 of the filed PDF · View the filing
Management explained billing occurs only as services are delivered, so receivables would not increase due to services mix.
Answered by S. Rangarajan
Asked by Shrinarayan Mishra: With services mix increasing in the order book, will trade receivable days worsen?
p. 14
“Trade receivables will not increase because we don't bill for services until the services are carried out.”
S. Rangarajan, page 14 of the filed PDF · View the filing
Management said the RFP is awaited and that the company currently supplies the glass cockpit and mission systems, hoping to expand into sensors, RWR and radar over time.
Answered by S. Rangarajan
Asked by Jenish Karia: What is the update on the AMCA program consortium and Data Patterns' opportunity within it?
p. 16
“the glass cockpit is developed by us. The mission systems is developed by us for the LCA-Mk2, which is going to be taken to AMCA”
S. Rangarajan, page 16 of the filed PDF · View the filing
Management corrected the premise, saying Virupaksha is a DRDO project name and not their product, and that anti-drone products are in quoting stages with no predictable timelines.
Answered by S. Rangarajan
Asked by Dipen Vakil: What is the status of the Virupaksha radar component supplied to the IAF, and timelines for anti-drone products?
p. 18
“Virupaksha is a DRDO project, name for the Super Sukhoi radars. This is not ours. We call it by a different name. So, we never delivered Virupaksha or any equivalent to Air Force as yet.”
S. Rangarajan, page 18 of the filed PDF · View the filing
Risks flagged
Order timing depends on government customer processes and cannot be predicted by the company
p. 7
“Unless, of course, there is some -- see these are all government customers. So, I can't predict for them.”
S. Rangarajan, page 7 of the filed PDF · View the filing
Negotiation and approval delays with government agencies are outside company control
p. 13
“It's a question of the agencies, government agencies getting together approval, these kind of things normally go through a process and that process delay is not addressed by -- we can't address those process delays.”
S. Rangarajan, page 13 of the filed PDF · View the filing
Uncertain and unpredictable timelines for new product orders such as anti-drone systems
p. 18
“But again, we don't have clear time lines when what will happen. We have started quoting in some locations.”
S. Rangarajan, page 18 of the filed PDF · View the filing
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