Data Patterns H1 inflow triples, order book reaches Rs 1,723.6 crore

Data Patterns reported H1FY27 order inflow of Rs 1,046.4 crore, up 198% from H1FY26, lifting its closing order book to Rs 1,723.6 crore after Rs 249.3 crore of execution. Q2FY27 accounted for Rs 929.1 crore of the half-year inflow, including two BEL radar production orders worth Rs 585.8 crore combined.

How did Data Patterns' H1FY27 order inflow change?

Data Patterns' H1FY27 order inflow rose to Rs 1,046.4 crore from Rs 350.6 crore in H1FY26, a 198% increase stated in the presentation. Production made up 63% of H1FY27 inflow, development 33% and service 4%, compared with 47%, 8% and 45%, respectively, a year earlier. The mix therefore moved towards production and development orders and away from service work.

Q2FY27 supplied Rs 929.1 crore, or most of H1FY27 inflow, compared with Rs 167.1 crore in Q2FY26, representing 475% growth. Production accounted for 67% of Q2FY27 inflow, development 29% and service 4%. In Q2FY26, production was 90% and service was 10%, while no development share was shown.

What is in Data Patterns' Rs 1,723.6 crore closing order book?

Data Patterns' H1FY27 order-book bridge begins with a FY26 order book of Rs 926.5 crore, adds Rs 1,046.4 crore of H1 inflow and deducts Rs 249.3 crore executed in H1, resulting in a Rs 1,723.6 crore closing book. The quarterly build-up table reported Rs 927.7 crore at Q1FY27, meaning the reported order book increased by Rs 795.9 crore in Q2FY27.

Radar was the largest category in the closing book at 49.3%, followed by AMC at 17.7% and avionics at 15.1%. EW represented 10.8%, services 3.6%, ATE 1.4%, FCS 0.5%, naval system 0.03% and others 1.3%. The presentation separately reported an international order book of Rs 32 crore as on 30 September 2026.

The work-stage mix also changed from FY26. Production was 43% of the Q2FY27 order book, compared with 21% at FY26 end, while development was 36% versus 41% and services were 21% versus 38%. This shift corresponds with the 63% production share in H1FY27 inflow, although development remained more than one-third of the closing book.

Which Q2FY27 orders drove Data Patterns' order increase?

Data Patterns' two largest disclosed Q2FY27 orders were BEL radar production awards valued at Rs 332.8 crore and Rs 253 crore. Their combined Rs 585.8 crore value was the largest identified component of the Rs 929.1 crore quarterly inflow. Radar's 49.3% share of the closing order book was the highest among the listed product categories.

Other disclosed Q2FY27 awards included a Rs 82.7 crore avionics development order from MoD, two EW development orders from MoD worth Rs 70.2 crore each, and an EW development order from NTRO valued at Rs 24.1 crore. The list also included a Rs 21 crore EW development award from MoD, Rs 19.1 crore of service work for HAL, Rs 15.1 crore of AMC work for Brahmos and a Rs 7.7 crore ATE production order from DoS.

The H1FY27 major-order list additionally showed a Rs 44.9 crore avionics development order from MoD and a Rs 29.4 crore radar development order from DRDO. The identified H1 awards consequently span radar, avionics, EW, service, AMC and ATE. The presentation does not provide a customer-by-customer reconciliation for the full Rs 1,046.4 crore H1FY27 inflow.

Has Data Patterns' higher order intake translated into revenue?

No, Data Patterns' H1FY27 net revenue was Rs 249.3 crore, down 38.7% from Rs 406.8 crore in H1FY26, despite the 198% increase in order inflow. The order-book bridge records Rs 249.3 crore of H1FY27 order execution, the same value as reported H1FY27 net revenue. Reported new orders therefore exceeded first-half execution by Rs 797.1 crore.

Q2FY27 revenue was Rs 133.2 crore, down 56.7% year on year from Rs 307.5 crore in Q2FY26, but 14.8% above Rs 116 crore in Q1FY27. EW accounted for 52.0% of Q2FY27 revenue, radar 19.1% and avionics 18.2%. MoD represented 51.0% of quarterly revenue, followed by BEL at 20.0% and DRDO at 9.0%.

Earnings before interest, tax, depreciation and amortisation (EBITDA) were Rs 62.8 crore in H1FY27, compared with Rs 100.6 crore in H1FY26, while net profit declined to Rs 44 crore from Rs 74.7 crore. EBITDA margin was 25.2% in H1FY27 against 24.7% a year earlier. Staff cost was 34.7% of sales, compared with 18.3% in H1FY26.

What does Data Patterns expect for FY2027 orders?

Data Patterns expects Rs 2,000 crore of FY2027 order inflow other than orders already received and negotiated. This is management's stated expectation, not a reported order figure, and the presentation does not provide a quarterly timetable, product split or customer split for the additional expected inflow.

The same order-book page states an order book of Rs 2,698 crore including orders received and negotiated, whereas the H1FY27 bridge reports a Rs 1,723.6 crore closing order book. The presentation does not reconcile these two measures. Their difference should therefore be considered alongside later disclosures on received, negotiated and executed orders.

Conclusion

Data Patterns' Q2FY27 order surge materially increased its H1FY27 inflow and closing order book, led by two BEL radar production awards worth Rs 585.8 crore combined. The closing book became more weighted to production than at FY26 end, while radar represented 49.3% of the Rs 1,723.6 crore balance. First-half revenue, EBITDA and net profit nevertheless remained below H1FY26 levels.

The next disclosed marker is management's expectation of Rs 2,000 crore of additional FY2027 order inflow beyond orders already received and negotiated. Subsequent updates can show whether this expected inflow is received, how it affects the difference between the Rs 2,698 crore and Rs 1,723.6 crore order-book measures, and whether the larger book converts into execution beyond Rs 249.3 crore in H1FY27.