On Friday, a MicroCap company in the geospatial industry signed an agreement with Jain University aimed at advancing aviation and aerospace education.
With a market capitalization of ₹445.42 crore, Droneacharya Aerial Innovations has seen a 0.30 percent marginal increase in its share price. During today’s trading session, the share price reached an intraday high of 178.50 from the previous closing price of 177.95.
According to the company’s exchange filing, the strategic partnership between DroneAcharya Aerial Innovations and Jain University is poised to offer advantages to the aviation and aerospace sectors by enriching their expertise and understanding.
Through this collaboration, Droneacharya Aerial Innovations has committed to providing valuable insights to Jain University candidates, including teaching and training, as well as modifying the curriculum to ensure candidates are well-prepared for the demands of the industrial landscape.
Additionally, both parties have agreed to engage in joint research activities, specifically focusing on drone management and geospatial sectors.
According to the FY23 annual reports, the company raised capital of ₹33,96,60,000 through the initial public offering in Q3 FY23 and has a global presence in North Carolina, USA; Amsterdam, Netherlands; Dubai, UAE; Thailand; Tunisia; Qatar; Malaysia; and the Philippines.
Regarding the revenue aspect of ‘Droneacharya Aerial Innovations,’ its revenue from operations increased by 999 percent from ₹1.9 crores in Q2 FY23 to ₹20.89 crores in Q2 FY24 on a YoY basis. Simultaneously, its net profits also increased by 2,946 percent from ₹0.13 crores to ₹3.96 crores during the same period.
It delivered a return on equity (ROE) of 9.98 percent and a return on capital employed (ROCE) of 13.06 percent.
The shareholder pattern of the company is 28.21 percent held by the promoters, followed by 70.48 percent held by the public, and the remaining 1.31 percent held by foreign institutional investors.
Droneacharya Aerial Innovations began as a startup known as Drone (UAV), founded by Prateek Srivatsava in Karnataka under the Karnataka State Electronics Development Corporation Limited (KEONICS). By securing well-noted projects by the end of 2020, they commenced their operations from an office in Pune.
Written by Praveen R
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