During Monday’s trading session, the shares of a company engaged in providing drone operation training, supply & maintenance services are in focus after the company announced receiving a purchase order from Tata Group.
With a market capitalisation of Rs. 248.4 crores, the shares of DroneAcharya Aerial Innovations Limited surged nearly 1.5 percent to hit an intraday high at Rs. 110.6 on BSE, as against its previous closing price of Rs. 109.
What’s the News
DroneAcharya Aerial Innovations Limited, in its latest regulatory filings with the BSE, announced that it has been awarded a purchase order of Rs. 5.5 lakh from Tata Communications Limited.
The order involves the development of customised drone solutions (Static Drone) to be showcased at Tata Communications’ experience centre. The order is scheduled for completion by 31st March 2025.
A static drone refers to a drone that is designed to be displayed or showcased without being operational or flying. It is often used as a model or exhibit to demonstrate the drone’s design, features, and functionality without functioning as a flying device.
Previous Orders
16th December 2024: DroneAcharya Aerial Innovations announced its strategic expansion into the Middle East through the incorporation of a new company in Abu Dhabi, UAE, under the trade name Drone Entry Aerial Services – L.L.C.
The newly established entity had been licensed for activities including aerial surveys by drones, drone sales and leasing, as well as surveillance and inspection by drones.
18th December 2024: DroneAcharya entered into a strategic partnership with Volatus Aerospace Inc., headquartered in Canada, through a Memorandum of Understanding (MoU).
The collaboration focuses on enhancing drone-based logistics and services in India, combining DroneAcharya’s expertise in drone surveying and training with Volatus Aerospace’s advanced delivery solutions and technological innovations.
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Financials
DroneAcharya reported a significant growth in the revenue from operations, experiencing a rise of nearly 88.2 percent YoY, increasing from Rs. 18.6 crores in FY23 to Rs. 35 crores in FY24.
Similarly, during the same period, the company’s net profit increased from Rs. 3.43 crores to Rs. 6.2 crores, representing a growth of around 80.8 percent YoY.
Stock Performance
The stock has delivered negative returns of nearly 47 percent in one year, as well as around 27.5 percent returns in the last six months. Likewise, the shares of DroneAcharya Aerial Innovations have given negative returns of about 11 percent in the last one month.
About the Company
Incorporated in 2017, DroneAcharya Aerial Innovations Limited is mainly engaged in the business of drone operation training, drone supply and maintenance services and management consultancy and training services.
Written by Shivani Singh
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