Drone stock engaged in developing an integrated drone eco-system built around drone manufacturing, certified training, services, renting drones and many more hit a 5 percent upper circuit upon posting its Q4FY24 results with a 1615 percent jump in Net Profits.
With a market capitalization of Rs. 711 Crores, the shares of Drone Destination Limited hit a 5 percent upper circuit in the day’s trade at Rs. 292.65, from its previous day’s close price of Rs. 278.75.
Its Revenue from Operations half yearly grew by 381 percent from Rs. 5.48 Crores in H1FY24 to Rs. 26.35 Crores in H2FY24 and it grew by 192 percent from Rs. 9.02 Crores in H2FY23 to Rs. 26.35 Crores in H2FY24. Annually it generated a revenue of Rs. 12.07 Crores in FY23 to Rs. 31.82 Crores in FY24, indicating a growth of 163 percent.
Its Net profit half yearly grew by 1615 percent from Rs. 39 Lakhs in H1FY24 to Rs. 6.69 Crores in H2FY24 and it grew by 166 percent from Rs. 2.51 Crores in H2FY23 to Rs. 6.69 Crores in H2FY24. Annually it generated a Net Profit of Rs. 2.44 Crores in FY23 to Rs. 7.08 Crores in FY24, indicating a growth of 190 percent.
Drone Destination Limited is a DGCA authorized Remote Pilot Training Organization that has developed an integrated drone eco-system built around drone manufacturing, certified training, services, and renting drones. It also offers skill loans with the assistance of banking partners to make training affordable for aspiring drone pilots.
It has three training bases of its own, at Gurugram, Chandigarh and Phulpur. Its drone portfolio include STAR GURU, SKY STAR, AGRISTAR, AGRI MAPPER, STAR EDGE, STAR EYE, and LASER STAR.
It has reported a return on equity (ROE) of 40.3 percent, a return on capital employed (ROCE) of 51.5 percent and a debt to equity ratio of 0.06
Written by Bharath KS
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.
