The shares of the leading player in the drone business surged 6.4% to ₹174.80 per share on Thursday after the company signed an agreement with CBAI Technologies Private Limited to procure 200 Type Certified training drones.
At 12:05 p.m., Droneacharya Aerial Innovations Ltd shares were trading at ₹174 a share on the National Stock Exchange, up 5.90% from the previous close price, and the company has a market capitalization of ₹418 crores.
DroneAcharya Aerial Innovations Limited has signed a significant agreement with CBAI Technologies Private Limited to procure 200 Type Certified training drones over three years. This initiative aims to transform drone education and skill development in the country, as reported in the company’s exchange filing.
Furthermore, the company has formed strategic partnerships to establish affiliated centers in Punjab with IIT Ropar, Gujarat with Rashtriya Raksha University, and Rajasthan with Subhkhyati Aerospace Pvt. Ltd.
On April 16th, DroneAcharya Aerial Innovations Ltd has inaugurated its fourth training center in Jaipur, Rajasthan,This new center is part of the company’s franchise expansion in collaboration with Subhkhyati Aerospace Pvt. Ltd.
In addition to the new centre in Jaipur, DroneAcharya operates DGCA-certified drone pilot training facilities in Maharashtra, Gujarat, and Punjab. It also offers non-DGCA-certified drone-focused courses in Mumbai and Bengaluru
DroneAcharya Aerial Innovations has landed a significant contract valued at ₹4.67 crores with iRed Limited in the United Kingdom for processing Drone and Geographic Information System (GIS) data.
In February 2024, DroneAcharya Aerial Innovations Limited also entered into a Memorandum of Understanding (MoU) with Vimaan Aerospace Pvt. Ltd, a leading oil marketing company, to collaborate on drone services and training.
Droneacharya Aerial Innovations Ltd provides Drone operation training, supply & maintenance services, and management consulting & training services
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.
In the last six months, shares of Droneacharya Aerial Innovations have declined by 8%, but they have seen a gain of 33% over the past year.
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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