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Share price of a leading player in the drone business moved up by 2.43 percent on Thursday to Rs. 189.60, compared to its previous closing price of Rs. 185.10, after the company received its inaugural order for the supply of Agricultural Spraying Drones from Vimaan Aerospace. 

With a market cap of Rs. 450 crore, shares of Droneacharya Aerial Innovations Ltd. opened at Rs. 184.90 on February 8th, and at 11:05 a.m., the stock was trading at Rs. 188.00, up by 1.57 percent. 

According to the recent filings on BSE, DroneAcharya Aerial Innovations Limited announced its inaugural order of supply of Agricultural Spraying Drones from Vimaan Aerospace. 

On February 6th, the company signed a Memorandum of Understanding (MoU) with Vimaan Aerospace Pvt. Ltd on the provision of drones and drone-related training and services. 

This collaboration is primarily focused on applications in the agriculture sector, survey and surveillance, solar panel cleaning, windmill maintenance, facade cleaning, and defense, among other promising avenues. 

In terms of financials, the company’s revenue from operations increased by 999.47% YoY from Rs. 1.90 crore in Q2 FY22-23 to Rs. 20.89 crore in Q2 FY23-24, accompanied by an increase in net profit by 2946.15% to Rs. 3.96 crore in Q2 FY22-23 from Rs. 0.13 crore in Q2 FY23-24. 

As of September 2023, the Promoters’ holdings remain unchanged at 28.21 percent, whereas, the Public holds 70.49 percent of equity shares in the company. 

Incorporated in 2017, Droneacharya Aerial Innovations Private Limited provides 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 & specialised GIS training 

Written by Shivani Singh 

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