The shares of one of the Leading drone manufacturing and solutions providers in India and overseas jumped 2 percent from the day’s low following a strategic acquisition to expand its offerings and operations.
At 12:40 p.m the shares of Droneacharya Aerial Innovations Limited were trading at Rs. 190, up 0.80 percent from its previous day’s close price of Rs. 188.50 and its market capitalization is Rs. 456 Crores.
DroneAcharya Aerial Innovations Limited has entered into a Share Purchase Agreement to acquire a 51 percent stake in PYI Technologies Private Limited.
This strategic acquisition is a pivotal move in DroneAcharya’s expansion plan aimed at broadening its service spectrum and enhancing its value-added offerings within the drone industry.
PYI Technologies Private Limited will be considered a subsidiary of M/s DroneAcharya Aerial Innovations Limited subsequent to the completion of the acquisition.
PYI Technologies Private Limited is engaged in the business of Manufacturing, Trading, and Training of Drones and their Electronics spares.
Droneacharya Aerial Innovations Limited is engaged in providing 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.
Its revenue from operations grew 417.27 percent from Rs. 3.59 Crores in FY22 to Rs. 18.57 Crores in FY23, accompanied by increasing profits of Rs. 0.41 Crore to Rs. 3.43 Crore.
In the financial year 2023, it reported a return on equity (ROE) of 8.51 percent and a return on capital employed (ROCE) of 11.52 percent, it is making good returns on its equity and capital employed, Its profitability ratios are increasing year on year.
Written by: Bharath K.S
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