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The shares of the leading player in the drone business surged 4.3% to ₹157 per share on Wednesday after the company received a work order worth of ₹4.67 crore from the United Kingdom. 

At 11:15 a.m., Droneacharya Aerial Innovations Ltd shares were trading at ₹154.25 a share on the National Stock Exchange, up 2.46% from the previous close price, and the company has a market capitalization of ₹370 crores. 

According to the company’s official filing, DroneAcharya Aerial Innovations has secured a substantial work order worth ₹4.67 crores from iRed Limited in the United Kingdom for the processing of Drone and Geographic Information System (GIS) data. 

Recently in February 2024, DroneAcharya Aerial Innovations Limited signed a Memorandum of Understanding (MoU) with Vimaan Aerospace Pvt. Ltd, a prominent Oil marketing company, to provide opportunities in drones and drone-related training and services. 

Droneacharya Aerial Innovations Ltd provides Drone operation training, supply & maintenance services, and management consulting & training services 

Ace investor Shankar Sharma holds 4,57,000 shares in the company as of the September quarter of 2023, equivalent to a 1.91 percent stake. 

The company has witnessed a remarkable annual revenue surge of 417%, escalating from ₹3.59 crore in FY21-22 to ₹18.57 crore in FY22-23. Concurrently, net profit soared by an impressive 736%, escalating from ₹0.41 crore to ₹3.43 crore during the same period. 

Over the past six months, Droneacharya Aerial Innovations shares have experienced a decline of 13%, with a further drop of 25% over the last 12 months.

Droneacharya Aerial Innovations Limited offers a high-end ecosystem of Drone solutions for multi-sensor Drone surveys, Drone data processing with sturdy high-configuration workstations, Drone pilot training, and specialised GIS training. 

DroneAcharya Aerial Innovations stands out as a premier provider in this domain, leveraging years of expertise in processing multisensor drone data, including Visual RGB, thermal, LiDAR, and Multispectral data. 

In December 2023, Foreign Institutional Investor BofA Securities Europe SA bought 1.67 lakh shares in the company at an average price of Rs 187.65 per share. 

In recent months, the Company has received an order worth ₹15 lakhs from Tata Consultancy Services (TCS).To the supply of a state-of-the-art 5G-enabled drone equipped with a Visual (RGB) camera, alongside a Ground Control Station designed for remote access and seamless live data relay. 

Written by Omkar Chitnis 

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