The shares of the leading player in the drone business surged 3.7% to ₹ 185.80 per share on Tuesday after the company signed an MoU to explore opportunities in the field of solar panel cleaning, windmill maintenance, and agriculture sector.
At 11:45 a.m., Droneacharya Aerial Innovations Ltd shares were trading at ₹183 a share on the National Stock Exchange, up 2.18 % from the previous close price, and the company has a market capitalization of ₹440 crores.
DroneAcharya Aerial Innovations Limited has signed a Memorandum of Understanding (MoU) with Vimaan Aerospace Pvt. Ltd to provide opportunities in drones and drone-related training and services.
The collaboration between DroneAcharya and Vimaan Aerospace is primarily focused on applications in the agriculture sector, aligning with the growing demand for precision agriculture and innovative solutions.
Additionally, the partnership will explore opportunities in survey and surveillance, solar panel cleaning, windmill maintenance, facade cleaning, and defense, among other promising avenues.
Vimaan Aerospace’s alliance with a prominent Oil Marketing Company, providing access to a vast network of over 21,000 retail outlets, adds a significant dimension for Droneacharya in diverse business opportunities. The company mentioned this in its exchange filing.
The company’s revenue has increased significantly by 1000 percent yearly, from ₹ 1.90 crore in Q2FY23 to ₹20.89 crore in Q2FY24. During the same timeframe, Net profit has jumped by 2900 percent from ₹ 0.13 crore to ₹3.96 crore.
Ace investor Shankar Sharma holds 4,57,000 shares in the company as of the September quarter of 2023, equivalent to a 1.91 percent stake.
Droneacharya Aerial Innovations shares have gained 19 percent in the last six months and 13 percent in a year.
Droneacharya Aerial Innovations Limited offers a high-end ecosystem of Drone solutions for multi-sensor Drone surveys, Drone data processing with sturdy high-configuration workstations, Drone pilot training, and specialized GIS training.
In Decemeber 2023, Foreign Institutional Investor BofA Securities Europe SA bought 1.67 lakh shares in the company at an average price of Rs 187.65 per share.
In recent months, the Company has received an order worth ₹15 lakhs from Tata Consultancy Services (TCS).To the supply of a state-of-the-art 5G-enabled drone equipped with a Visual (RGB) camera, alongside a Ground Control Station designed for remote access and seamless live data relay.
Written by Omkar Chitnis
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
