Data Patterns (India) Ltd reported Q2 FY27 numbers with revenue of Rs. 133.25 Cr (-56.66% YoY) and PAT growth of -55.64% YoY. Here's a quick read of what worked, what to watch, and what management said.
| Results date | November 06, 2026 |
|---|---|
| Revenue (Q2) | Rs. 133.25 Cr (-56.66% YoY) |
| PAT (Q2) | Rs. 21.82 Cr (-55.64% YoY) |
| EBITDA margin | 23.53% (+126 bps YoY) |
| EPS (Q2) | Rs. 3.86 (-56.09% YoY) |
Q2 FY27 revenue fell 56.66% YoY to Rs.133.25 Cr and PAT fell 55.64% to Rs.21.82 Cr, leaving management's 20-25% growth and 35-40% EBITDA margin guidance arithmetically difficult to reach (H2 would need 66-75% growth at 37.7-44.3% margins). Offsets include a 14.84% QoQ revenue recovery, H1 CFO of 2.50x PAT, receivables down 31.28%, and a maintained net cash position of Rs.403.93 Cr.
| Driver | What happened | Verdict |
|---|---|---|
| "Order inflows ahead, revenue recognition in-line-to-behind pending the approval-delay read" | Revenue −56.66% YoY, −38.72% H1 — behind | Played out |
| "A YoY margin recovery is plausible even with cost pressure" (favourable Q2 FY26 comp) | EBITDA margin 23.53% vs 22.27%; gross margin 69.04% vs 38.52% | Played out |
| PCB-complex input costs "a headwind to the raw-material line" | Materials 43.35% of revenue vs 40.15% | Partially visible |
| "The bridge [to the 35–40% band] remains the open question" | Q2 margin 23.53%, H1 25.16% — bridge not made | Played out |
| "Whether 'temporary delays' persisted… H2 collection pledge against the Rs.727.77 Cr receivables base" | Receivables Rs.500.13 Cr (−31.28%); revenue recognition still weak — collections executed, revenue soft | Partially |
| "Whether Q2 is reported standalone or with a first consolidated subsidiary line" | Reported consolidated incl. STAC; contribution −Rs.0.15 Cr | Played out |
| Order-book split and BEL execution timeline | Filing silent | Not observable |
| Export/counter-drone/BrahMos/jammer milestones | Filing silent | Not observable |
Read our full results preview.
| What management said | Where | What happened | Verdict |
|---|---|---|---|
| FY27 revenue growth 20–25% | Reiterated on the Q1 FY27 earnings call ("growth guidance of 20% to 25% revenue growth") | Q2 −56.66% YoY; H1 −38.72% | Missed to date |
| FY27 EBITDA margin 35–40% (Q4 FY26 concall: "healthy EBITDA margins of 38% to 40%" short term) | FY27 guidance; Q4 FY26 and Q1 FY27 calls | Q2 23.53%; H1 25.16% | Missed to date |
| STAC completion ~3 months from 30 Jul 2026 | Board approval of 30 July 2026 / SPA of 25 August 2026 | Consolidated from Q2; effective 17 Sep 2026 | Met |
| Maintain net-debt-free status | Ongoing management commitment | Net cash Rs.403.93 Cr | Met |
| "Temporary delays in customer approvals" with normalization expected in coming quarters | Q1 FY27 earnings call | Revenue recognition worsened YoY (−56.66%) rather than normalized; though QoQ +14.84% and receivables fell sharply — the sequential improvement is consistent, the YoY read is not | Too Early |
| "We are confident of achieving the full year targeted margins" | Q1 FY27 earnings call (CFO) | H1 EBITDA margin 25.16% vs the 35–40% band | Contradicted so far |
| Counter-drone contracts within 3–6 months of July 2026; BrahMos seeker commercial orders in FY27; initial export OEM contracts within 3–4 months of May 2026; jammer-pod flight trials before December | Q1 FY27 and earlier earnings calls | None addressed in this filing | Too Early |
Disclaimer: This results analysis is published for educational and informational purposes only. It is not investment advice, not a recommendation to buy, sell or hold any security.