Shares of this microcap company jumped 2 percent in Tuesday’s trading session after announcing the acquisition of Aerophile Academy Private Limited. The shares have delivered around 20 percent returns to its shareholders in six months.
With a market capitalization of Rs. 435 crores, the shares of Droneacharya Aerial Innovations Ltd started Tuesday’s trading session on a higher note at Rs. 179.90 compared to its previous close of Rs. 177.70. During the trading session, the shares hit a high of Rs. 183.90, gaining around 2 percent and are currently trading at Rs. 181 apiece.
Such a positive movement in the share price was observed after the company in an exchange filing announced that it had signed a term sheet to acquire a 76 percent stake in Aerophile Academy Private Limited, a prominent DGCA certified drone pilot training centre in South India.
Furthermore, this strategic move marks DroneAcharya’s foray into South India’s drone pilot training landscape. With this engagement, the company aims to extend its influence beyond its existing stronghold in Central, North, and West India, establishing a formidable footprint in the vibrant South Indian market.
Coming onto the company’s financial statement, the revenue from operations zoomed by 417.27 percent from Rs. 3.59 crores in FY21-22 to Rs. 18.57 crores in FY22-23. In addition, the net profits magnified from Rs. 41 lakhs to Rs. 3.43 crores during the same period.
Earlier, last week, the drone company officially entered into a Memorandum of Understanding (MOU) with JAIN (Deemed-to-be University), Bangalore, aimed at advancing aviation and aerospace education. This strategic collaboration between these organizations promises to significantly benefit the Aviation and Aerospace community by enhancing their skills and knowledge.
Moreover, both parties have agreed to engage in joint research activities, particularly focusing on Drone Management and Geospatial sectors.
Due to consistent operating revenue and profits on a YoY basis, the profitability metrics of the company improved with the return on equity (RoE) increasing from 5.29 percent during FY 21-22 to 8.50 percent in FY 22-23, and, the return on capital employed (RoCE) zoomed from 6.99 percent to 11.61 percent during the same timeframe. Furthermore, the net profit margin increased from 11.42 percent during FY21-22 to 18.47 percent during FY22-23.
Headquartered in Pune, Droneacharya Aerial Innovations was incorporated in 2017. The company provides a high-end ecosystem of Drone solutions for multi-sensor Drone surveys, data processing of Drone data using robust high-configuration workstations, Drone pilot training and specialised GIS training.
Written By Vaibhav Patil
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