The shares of a micro-cap company that provides supply & maintenance services, Drone operation training, and training services & management consultancy went up 9 percent in intra-day trade. This surge in stock price is due to a partnership with Krattworks for the local manufacturing of drones.
Share price movement
In the day’s trading session, the shares of DroneAcharya Aerial Innovations Limited with a market cap of Rs. 339 crore went up 9 percent in intra-day trade to Rs.144.90 per share, from its previous close of Rs.132.80 apiece. The share has retreated since then and is trading at Rs.143.45 apiece.
Rationale for Rise
This Strategic Partnership and collaboration with Krattworks, an Estonia-based company can benefit the company by improving DroneAcharya’s capabilities in advanced drone technology, especially for defence applications.
Krattworks develops advanced navigation solutions for land and aerial vehicles, enabling independent operation from GNSS and enhancing unmanned systems effectiveness in contested environments against electronic warfare challenges. From these partnerships, this initiative can also bring foreign technology to the country and also enhance local production which is in line with the “Make in India” initiative.
Partnership Objective
The primary objective of the acquisition is to establish a local manufacturing base for Krattwork’s advanced drone systems which include anti-jamming tactical ISR drones. This move aims not only to serve the Indian market but also to cater to Krattwork’s global clients by using India’s manufacturing capabilities.
Management Commentary
Prateek Srivastava, Founder, and Managing Director of DroneAcharya the partnership, stated this development presents a significant opportunity to introduce advanced drone technologies and anti-jamming drone technology which is vital for India’s defence sector. Major General Mandip Singh commented on the importance of this collaboration and to counter against electronic warfare threats. They expect to go for trials for armed forces in the next 3 months.
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Financial Performance
DroneAcharya Aerial Innovations Limited reported its financial results and in FY24 revenue from operations was up by 88 percent year-on-year from Rs. 18.57 crore in FY23 to Rs.34.96 crore in FY24. Additionally, Profit After Tax (PAT) was up in FY24 from Rs.3.43 crore in FY23 to Rs. 6.08 crore in FY24.
Company Profile
DroneAcharya Aerial Innovations Limited has built a strong reputation over the past seven years in drone technology, actively serving various defence organizations in India. The company specializes in delivering surveillance drones, providing pilot training, and offering specialized training for defence missions.
DroneAcharya Aerial Innovations Limited, founded in 2017 and based in Pune, specializes in comprehensive drone solutions. The company offers services such as drone surveys, data processing, and pilot training, including DGCA-certified programs. They cater to various sectors like agriculture, energy, and urban planning, providing innovative technologies for land surveying and underwater inspections.
Their business model focuses on a multi-faceted approach that is establishing Remote Pilot Training Organizations to enhance drone pilot education, providing expert consultancy to government and private entities, and reselling advanced drone technologies and software solutions.
Written by – Santhosh S
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