This microcap Drone company, which is engaged in manufacturing and provides training of Drones is in focus after signing an MoU with Saptrishi Consultancy Services (JK Group) for Geo-Spatial Drone Data Services.
Price Movement
In Monday’s trading session, Drone Destination Limited stock was trading at Rs.220 per share, which is 0.27 percent down from its previous close price of Rs.220.60. The stock has delivered a return of around 53 percent and outperformed nifty in the same period.
What happened
The company has recently signed a Memorandum of Understanding (MoU) with Saptrishi Consultancy Services which is one of the companies under JK Group. They signed to foray into diverse Geo-Spatial Drone Data Services.
Financial Performance
As the company is in the microcap space they release results semi-annually. The recent September revenue results posted Rs. 13.83 crore, which is 152 percent and profits were Rs. 1.02 crore. The FY24 results show revenue from operations increased significantly by 163.62 percent year on year, from Rs. 12.07 crores in FY23 to Rs. 31.82 crores in FY24. Their net profit increased by 176.56 percent year on year, from Rs. 2.56 crores in FY23 to Rs. 7.08 crores in FY24.
The return on equity in FY24 stood at 17.87 percent down from 27.42 percent a year ago. The debt to equity ratio was 0.07 times which has reduced from 0.17 times in FY23. However, the return on capital employed has stood at 33.14 percent which has reduced compared to 33.14 percent a year ago.
Also read….
Revenue Segment
According to the company’s annual report, they considered revenue from a single source. They derive their revenue from providing services related to the drone industry and trading as of FY24.
Shareholding Pattern
As of September 2024, the shareholding pattern includes promoters holding a major share of 61.28 percent stake in Drone Destination. Foreign Institutional Investors (FIIs) hold 1.22 percent, and public holdings stand at 37.50 percent.
About the company
Drone Destination Limited operates as a drone solutions provider, specializing in drone manufacturing, certified pilot training, and Drone as a Service (DaaS). The company focuses on delivering essential services such as mapping, surveying, and surveillance across various sectors. With a commitment to innovation, it aims to establish a robust ecosystem for drone technology in India. In FY24, the company had a market share of around 30 percent and 35 percent in revenue in the certified training market. They have mapped around 8,00,000 hectares of the area so far.
Written by Santhosh S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
Start Your Stock Market Journey Today!
Want to learn Stock Market trading and Investing? Make sure to check out exclusive Stock Market courses by FinGrad, the learning initiative by Trade Brains. You can enroll in FREE courses and webinars available on FinGrad today and get ahead in your trading career. Join now!!
