According to the EY FICCI report, The drone sector is rapidly expanding, with the Indian market projected to grow from 10,803 units in 2024 to 61,393 units by 2029. This growth is driven by regulatory reforms and increased investments, aiming for a market value of approximately $6.8 billion by 2026, supported by government initiatives like the PLI scheme
Here are the Drone stocks with strong management guidance:-
DCM Shriram Ltd
DCM Shriram Limited sells fertilizer, sugar, and caustic soda. The Company’s sectors include Fertilisers, which produces urea; Chloro-Vinyl, which produces poly-vinyl chloride, carbide, and chlor alkali chemicals; and Shriram Farm Solutions, which trades superphosphate and other fertilizers.
With a market capitalization of Rs 16,809.02 crore, the shares closed at Rs 1,077.90 per share, increasing around 1.17 percent as compared to the previous closing price.
DCM Shriram has partnered with Israel’s Skylock Systems to manufacture counter-drone systems in India, focusing on defense and security applications. Field testing with the Indian Border Security Force (BSF) underscores the company’s commitment to developing advanced defense solutions within the growing drone market.
The company is also expanding into agricultural drone manufacturing while aligning with India’s ‘Make in India’ initiative by indigenizing components. With the Indian drone market projected to reach $40.7 billion by 2027, DCM Shriram expects revenue generation from its drone ventures within 3-6 months.
Examining the company’s financial condition, revenue ramped up by 3 percent from Rs 2,780 crore in Q1FY24 to Rs 2,876 crore in Q1FY25, during the same time frame net profit jumped significantly by 75 percent from Rs 57 crore to Rs 100 crore.
Paras Defence and Space Technologies Ltd
Paras Defence and Space Technologies Limited designs, develops, manufactures, tests, and commissions defense and space-related products, systems, and solutions. The company is divided into two segments: optics and optronic systems, and defense engineering.
With a market capitalization of Rs 4,376.00 crore, the shares closed at Rs 1,122.05 per share, increasing around 5 percent as compared to the previous closing price.
Paras Aerospace’s contract with IFFCO Nano Fertilisers includes a two-year annual maintenance contract (AMC) for the 400 agri-drones. This not only boosts immediate revenue but also strengthens the company’s long-term presence in drone services through sustained maintenance operations.
With an ambitious target to become India’s top anti-drone company by FY26-27, Paras Defence is strategically positioning itself through substantial contracts and technology development.
Examining the company’s financial condition, revenue ramped up by 75 percent from Rs 48 crore in Q1FY24 to Rs 84 crore in Q1FY25, during the same time frame net profit jumped significantly by 133 percent from Rs 6 crore to Rs 14 crore.
Zen Technologies Ltd
Zen Technologies Limited is an India-based firm that designs, develops, and manufactures defense training systems using sensors and simulator technologies. The company’s products include land-based military training simulators, driving simulators, live range equipment, and anti-drone devices.
With a market capitalization of Rs 15,386 crore, the shares closed at Rs 1,704.05 per share, increasing around 5 percent as compared to the previous closing price.
The company expects substantial order inflow in Q4 FY2025, with a ramp-up starting in Q3. Management has set a target of ₹1200-1300 crore in order inflow by the end of FY2025. Export revenues are projected to grow in the coming quarters, despite not being recognized in Q1 FY2025.
The company recognizes longer execution times for export revenues but remains optimistic about future growth. Management is focused on R&D to innovate and address emerging threats in the defense sector. Their commitment to indigenization aligns with government policies favoring domestic manufacturers, supporting long-term industry growth.
Demand for counter-drone systems is rising, shifting from soft-kill to hard-kill solutions. Management estimates a ₹10,000 crore market over the next 3-5 years, with possible upward revisions. Zen Technologies positions itself as a leader, owning IP for essential components like detectors, radars, and cameras.
Examining the company’s financial condition, revenue ramped up by 93 percent from Rs 132 crore in Q1FY24 to Rs 255 crore in Q1FY25, during the same time frame net profit jumped significantly by 64 percent from Rs 48 crore to Rs 79 crore.
Written by:- Abhishek Singh
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