Shares of this micro-cap stock jumped approximately 4 percent after the company successfully bagged multiple supply orders. In the past year, the company’s stock jumped nearly 25 percent for its stakeholders.
With a market capitalization of Rs 345 crores, the stocks of Droneacharya Aerial Innovations Limited, a leading provider of drone solutions, started their trading session on Monday at Rs 144.85 and currently trade at Rs 143.80, gaining approximately 4 percent compared to the previous closing price of Rs 138.95 apiece.
Such bullish stock price movements were observed today after the company, through its recent regulatory filing with the Bombay Stock Exchange (BSE), intimated about the receipt of multiple supply orders.
Firstly, it received an order for the supply of ‘Precision Mapping Systems’ from Earthtree Enviro Private Limited underscoring the company’s commitment to delivering advanced technology solutions that significantly enhance data accuracy, particularly in environmental and agricultural sectors.
Secondly, the company received a supply order of ‘Drone Controllers’ from the esteemed Northern Command signifying a milestone for its ongoing efforts to support defense initiatives and contribute to national security.
In addition to the above two orders, the company also received a contract to supply ‘IT Hardware’ for the Indian Army’s ‘Drone Lab’ in Jammu and Kashmir (J&K) underscoring the company’s commitment to supporting defense preparedness and highlighting the critical role of technology accessibility.
According to the recent half-yearly data, the company’s basic business indicators, such as its operating revenues as well as after-tax profits, surged in numbers.
The former took an upward shift from Rs 13.58 crores during the March 2023 quarter to Rs 20.89 crores during the September 2023 quarter, and the latter, during the same period, moved from Rs 3.05 crores to Rs 3.96 crores.
Droneacharya Aerial Innovations Limited is engaged in the business of providing high-end ecosystem of drone solutions for multi-sensor various drone surveys as well as data processing of drone data using robust high-configuration workstations. The company’s offerings are classified into four broad categories, viz, training, services, and others.
Written by Amit Madnani
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