During Tuesday’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 the Ministry of Defence.
With a market capitalisation of Rs. 262.6 crores, the shares of DroneAcharya Aerial Innovations Limited surged nearly 1.3 percent to hit an intraday high at Rs. 111.6 on BSE, as against its previous closing price of Rs. 110.15.
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. 7.53 lakh from the Ministry of Defence, Department of Military Affairs, Mechanised Army Courses Group, Ahmednagar.
As part of the contract, DroneAcharya will deliver a Drone Pilot Training Course and Drone Building Course for 8 Indian Army Officials. The training program is scheduled to commence on 3rd February 2025 and conclude on 12th February 2025.
Previous Orders
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.
13th January 2025: The company was awarded a purchase order of Rs. 5.5 lakh from Tata Communications Limited. The order involved 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.
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Financials
DroneAcharya reported a significant growth in the revenue from operations, experiencing a rise of nearly 28.6 percent YoY, increasing from Rs. 21 crores in H1 FY23 to Rs. 27 crores in H1 FY24.
In contrast, during the same period, the company’s net profit decreased from Rs. 4 crores to Rs. 1.51 crores, representing a decline of around 62.5 percent YoY.
Stock Performance
The stock has delivered negative returns of nearly 42.3 percent in one year, as well as around 22 percent returns in the last six months. Likewise, the shares of DroneAcharya Aerial Innovations have given negative returns of about 9.3 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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