Shares of this drone stock under the ‘micro cap’ category rose more than 4 percent on Wednesday after the company received a $1.26 million supply order from a Qatar-based company. In the last six months, the company’s shares have gained more than 50 percent.
With a market capitalization of Rs 434.19 crores, the stocks of Droneacharya Aerial Innovations Limited closed at Rs 181 in Wednesday’s trading session, gaining 4.20 percent as compared to the previous close of Rs 173.70 apiece.
Such bullish movements in the stock prices were witnessed after the company, through a regulatory filing with the BSE today, announced that it has secured a supply order worth $1.26 million from ‘Triconix Industrials Solutions QFZ LLC’, a Qatar-based Integrated Management System (IMS) company.
Marking a strong debut in the Qatar Drone Space, the order consists of the supply of Drone Data Acquisition and Processing Services, Survey/Surveillance Drones & IT Hardware, etc.
During the recent financial years, the company has been successful in increasing its operating revenues as well as after-tax profits with the former increasing from Rs 3.59 crores during FY21-22 to Rs 18.57 crores during FY22-23, and the latter soared from Rs 41 lakhs to Rs 3.43 crores during the same time period.
In addition to the above, the basic profitability ratios such as return on equity (RoE) rose from 5.25 percent during FY21-22 to 8.51 percent during FY22-23. Moreover, the return on capital employed (RoCE) took an upward shift from 6.97 percent to 11.52 percent keeping the timeframe the same.
According to the latest shareholding data available, the company’s Promoters hold a 28.21 percent stake, and the Foreign Institutional Investors (FIIs) hold a 5.27 percent stake in the company.
Droneacharya Aerial Innovations Limited is involved in the business of providing a high-end ecosystem of Drone solutions. The company’s core operations include Drone operation Training, Management Consultancy and training services, Drone supply and Maintenance services, etc.
Written by Amit Madnani
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