A.I stock engaged in the business of software development, providing surveillance, custom robots, drones, and many more in focus upon signing an MoU to Manufacture Robots, Drones, and Autonomous vehicles.
Price Action
With a market capitalization of Rs. 2,026 Crores, the shares of Kody Technolab Limited were trading at Rs. 3,180 per equity share, down 0.37 percent from its previous day’s close price of Rs. 3,191.75.
What Happened
Kody Technolab Limited has signed a Memorandum of Understanding(MoU) with Ray Nano Science and Research Centre LLP, the main objective of the MoU is to Manufacture Robots, Drones, and Autonomous vehicles.
The MOU executed for a period of 12 months starting from 1st November 2024 and at the end of the term, the dealership will be automatically renewed unless terminated by either party. The notice period for termination will be two months.
In Addition, Kody Technolab Limited has partnered with Indowings and Ray Nano Science and Research Center to develop an intelligent agricultural drone designed for precision spraying with drones ranging between 20 to 50 Litres of capacity, to redefine sustainable farming practices across India.
Management Comments
Kody Technolab’s MD, Mr. Manav Patel, commented:
“This MOU marks a pivotal moment for both companies and for India’s agricultural sector. We are creating the next generation of farming solutions, which will not only enhance productivity but also contribute to the nation’s vision of becoming a global leader in technology by 2047.”
As part of India’s march toward a Viksit Bharat, the agriculture sector will be central in driving the country’s future economic growth. AI powered Drones are set to become indispensable tools in this effort, aligning with the country’s roadmap to 2047.
The partnership between Kody Technolab and Ray Nano Science is poised to set new standards in agricultural technology, aligning with India’s broader objectives to foster digital innovation, improve food security, and reduce the environmental impact of farming practices. This innovation will not only serve Indian farmers but also create new global opportunities for smart farming solutions.
About the Company
Kody Technolab Limited is engaged in the business of software development services to a diverse set of industries. It offers a wide range of services like custom software development, artificial intelligence implementation and consultation, and many more.
It has also ventured into the robotics space with its products such as India’s premier surveillance robot Athena, and its custom service robot Dasher.
Financials & Ratios
Its revenue from operations grew by 105 percent YoY from Rs. 10.95 Crores in FY23 to Rs. 22.46 Crores in FY24, accompanied by profits of Rs. 2.92 Crores to Rs. 4.89 Crores.
In terms of Return ratios, it has delivered a return on equity (ROE) of 23.4 percent and a return on capital employed (ROCE) of 28.4 percent. It has maintained a debt-to-equity ratio of 0.03.
Written by: Bharath K.S
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