Drones, also known as unmanned aerial vehicles, or UAVs, have become increasingly popular in recent years for a variety of reasons, including commercial, military, and defence. Eventually, investment in the drone business has increased.
The Indian government has developed the Digital Sky platform, to manage unmanned aircraft system activities in India and the government intends to encourage businesses to employ drone technology in the agriculture industry.
Here are two chemical companies that are aggressively invested in drone technology
DCM Shriram Ltd.
DCM Shriram is the third largest manufacturer of Chlor-Alkali in India. The company is engaged in the production of sugar,agri inputs, urea, and hybrid seeds. as well as the company produces PVC resins, caustic soda, and cement.
DCM Shriram Ltd shares were trading at Rs 886 per share on July 5, With a market capitalization of Rs 13,877 crore, the firm falls into the small-cap category.
In August 2021, the firm partnered with Zyrone Dynamics, a Turkish UAV and drone startup, to market small drones. DCM bought a 30% stake for US$1 million, for a total investment of US $3.5 million.
The company intends to manufacture drones in India as part of the Make in India initiative. The firm has a research and development (R&D) centre in Delhi and licences to manufacture defence drones throughout its Indian locations. The business is currently evaluating drones.
Revenue increased by 20 percent year over year, from Rs 9,627 crore in FY 21–22 to Rs 11,546 crore in FY 22–23. Net profit decreased by 14 percent, from Rs. 1,066 crore to Rs. 910 crore.
Dhanuka AgriTech Ltd.
Dhanuka Agritech Limited is a valuable agri-input firm in India, offering a wide range of agrochemicals such as herbicides, insecticides, fungicides, and plant growth stimulants. The company has formed various public-private and private-private partnerships for agricultural extension programs that are hastening the transmission of new agricultural technologies to the Indian rural sector.
In 2021, Dhanuka Agritech invested Rs 30 crore in IOTechWorld Avigation, a firm that has developed a DGCA-approved drone for agricultural applications and IOTechWorld Avigation, has planned to make 3000 agriculture drones in this fiscal year.
Dhanuka Agri Tech Ltd shares were trading at Rs 787.75 per share on July 5, With a market valuation of Rs 3,587 crore, the firm falls into the small-cap category.
Revenue increased by 15 percent year over year, from Rs1,477 crore in FY 21–22 to Rs 1,700 crore in FY 22–23. Net profit increased by 12 percent, from Rs.208 crore to Rs. 233 crore.
Written by Omkar Chitnis
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