The share of a leading player in the drone solution gained a 3 percent of Rs 163 apiece on Friday’s early trade after the company informed the successful testing of a Reusable Rocket Launch Vehicle.
At 1:17 p.m., On the Stock Exchange, Droneacharya Aerial Innovations Ltd shares were trading at Rs 160.95 a share, up Rs 2.95 or 1.87 percent, with a market valuation of Rs crores.
According to the company’s exchange filing, DroneAcharya Aerial Innovations Limited has successfully tested a Reusable Rocket Launch Vehicle. The vehicle reached a height of roughly 3 kilometers above the ground and successfully landed using a parachute mechanism.
Furthermore, the company plans to reach altitudes of 10 km followed by 30 to 50 km in order to collect significant atmospheric and meteorological data. This feat might be extended to broader applications such as suborbital research and testing, aerospace system testing, parabolic testing, and aerodynamic design testing.
Ace investor Shankar Sharma holds 4,57,000 shares in the company as of the June 2023-24 quarter, equivalent to 1.91 percent.
The company’s revenue has increased by 417 percent year on year, from Rs 3.59 crore in FY 21-22 to Rs 18.57 crore in FY 22-23. During the same period, net profit climbed by 730 percent, from Rs 0.41 crore to Rs 3.43 crore.
The stock has delivered 49.44 percent from its initial public offering from the initial price of Rs 102 per share on the market.
Droneacharya Aerial Innovations Limited offers 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 specialized GIS training.
Written by Omkar Chitnis
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