This drone stock rallied 8% in the first half of Wednesday after the company partnered with Wollstone Capital SA which is a private investment holding company in Switzerland.
Share price of Droneacharya opened at Rs. 174.30 per share and gained 8% to reach its intra- day high of Rs. 190.25 per share. The stock has returned 49.64% in the last six months and 63.4% in the last one year.
On 20 Sep 2023, the company announced that it has signed a franchise deal with Wollstone Capital SA to open thirty Remote Pilot Training Organizations across the country to boost the sale of drones, services and certified training. The total amount for the deal stands at Rs. 23 crore. The deal aims to open a hundred plus training centers in total.
The company has a market capitalisation of Rs. 422.32 crore. As per its recent financials, the company recorded a revenue of Rs. 18.57 crore in FY23 which is an increase of 417.27% from Rs. 3.59 crore in FY22. Its net profit which was Rs. 0.41 crore in FY22 increased 736.59% to Rs. 3.43 crore in FY23. it maintains a low debt to equity ratio of 0.
Droneacharya Aerial Innovation Limited is an Indian company which is into manufacturing business. The company is known for manufacturing drones and several related equipment and machinery. It was established in 2017 as a drone startup under Karnataka State Electronics Development Corporation Limited.
Written by Bhumika Khandelwal
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