The shares of one of the Leading drone manufacturing and solutions providers jumped 3 percent in the day’s trade following its expansion into foreign markets and securing an order for the supply of 30 units of their international standard agricultural drone, the AgriVeer.
At 11:07 a.m the shares of Dronacharya Aerial Innovations Limited were trading at Rs. 185.20 up 2.89 percent from its previous day close price of Rs. 180 and its market capitalization is Rs. 444 Crores.
As per the company’s filing, Dronacharya Aerial Innovations Limited has commenced full fledged operations in five countries namely, Philippines, Thailand, UK, US, and Qatar.
With its entrance into the foreign markets, it has received an order for the supply of 30 units of their international standard agricultural drone, the AgriVeer. The AgriVeer is currently in the process of attaining Type certification and post this, the product will be launched in the Indian market as well.
In addition to this it has secured a significant project to supply drone products and services to a prominent oil and gas firm in Qatar. The remarkable expansion marks a significant milestone for DroneAcharya, as it becomes one of the first few Indian companies with comprehensive operations in sales, services, and training in the field of drones across the international landscape.
The company’s revenue 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.
It has 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, and its profitability ratios are increasing year on year.
According to the latest shareholding data available for the September 2023 quarter, the company’s Promoters hold 28.21 percent stake, the Domestic Institutional Investors hold 0.00 percent and the Foreign Institutional Investors (FII) hold 1.31 percent.
Droneacharya Aerial Innovations Limited is into providing 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 specialised GIS training.
Written by: Bharath K.S
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