Drone stock, which is a DGCA authorized Remote Pilot Training Organization, Jumped 4 percent in the day’s trade after it received a work order worth Rs. 12 Crores for the deployment of 200 Agri Drones & Agri Drone Pilots.
At 11:29 a.m the shares of Drone Destination Limited were trading at Rs. 154.05 up 0.10 percent from its previous day close price of Rs. 153.90 and its market capitalization is Rs. 374.34 Crores.
Drone Destinations Limited has received a work order worth Rs. 12 Crores from IFFCO for the deployment of 200 Agri Drones & Agri Drone Pilots for a period of 60 days for Spray Demonstrations in the state of Uttar Pradesh.
The company’s revenue grew 371.48 percent from Rs. 2.56 Crore in FY22 to Rs. 12.07 Crore in FY23, accompanied by increasing profits of Rs. 0.21 Crore to Rs. 2.44 Crore.
It has reported a return on equity (ROE) of 27.43 percent and a return on capital employed (ROCE) of 33.19 percent, it is making good returns on its equity and capital employed.
According to the latest shareholding data available for the September 2023 quarter, the company’s Promoters hold 61.30 percent stake, the Domestic Institutional Investors hold 0.32 percent and the Foreign Institutional Investors (FII) hold 3.95 percent.
Drone Destination Limited is a DGCA authorized Remote Pilot Training Organization that has developed an integrated drone eco-system built around drone manufacturing, certified training, services, and renting drones.
Written by: Bharath K.S
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