This drone company which is engaged in the business of providing Drone operation training, supply & maintenance services share price went up by 4.09 percent on Monday’s afternoon trading session after receiving a work order worth Rs. 15.01 Crores from a Thailand-based drone company.
With a market capitalization of Rs 345 Crores, the shares of Droneacharya Aerial Innovations Ltd closed at Rs 143.80 a piece up by 8.2% from a previous closing price of Rs 138.15 per share to today’s high of Rs 149.50 per share.
The contract is said to supply 5,000 FPV Drone kits and components for the international client. The company is to execute the order within a timeframe spanning 90 days. For Drone Acharya, this is the largest FPV (First Person View) drone supply export order in India to date, valued at Rs. 15.01 Crores. The name of the entity awarding the order is MB Darvilis.
The company has future plans to focus more on drone sales and manufacturing and also aims to create a more agile and innovative organization that is better equipped to respond to market changes plus to capitalize on new opportunities.
With the Indian Government encouraging Indian drone companies through Make in India policies like the PLI (Production-linked Incentive), the ban on drone imports, and the Drone Shakti scheme, India is on its way to becoming a Global Drone Hub by 2030, echoing the vision of Prime Minister Shri Narendra Modi.
Analyzing the company’s financials, the revenue from operations increased by 89 percent from Rs 18.57 crores in FY 2022-23 to Rs. 35.25 crores in FY 2023-24. Simultaneously, the net profits have zoomed by 77 percent from Rs. 3.43 crores to Rs 6.08 crores for the same time period.
Headquartered in Pune, Droneacharya Aerial Innovations Ltd provides Drone operation training, supply & maintenance services, and management consultancy & training services. Apart from these, it provides services of land and underwater surveying which includes Powerlines & Utilities, Oil & Gas Infrastructure, Mines and Quarries.
Written By Zahal
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