The micro-cap company secured a major contract, valued at Rs 1.4 crore from the Haryana government for supplying high-end surveying drones, marking a step forward in the state’s adoption of drone technology for urban planning, execution, and other operations.
Droneacharya Aerial Innovations Ltd’s successful bid for a government tender in Haryana demonstrates the state’s increasing use of drones. It aligns with India’s vision of becoming a Global Drone Hub by 2030. DroneAcharya’s founder and managing director, Prateek Srivastava, underlined the importance of this accomplishment.
Additionally, Droneacharya Aerial Innovation Ltd has acquired a 51 percent stake in PYI Technology to expand its service offerings and strengthen its position in the drone industry.
However, the share price rose 14.8 percent from Rs 189.7 per share on December 1, 2023, to Rs 217.95 per share on December 18, 2023, and it is now facing a 17.8 percent correction to the current market price of Rs 179, which could be due to profit booking.
Looking at the Droneacharya Aerial Innovations Ltd financials, their net revenue increased by 999 percent year over year, from Rs 1.90 crore in Q2FY23 to Rs 20.88 crore in Q2FY24.
In addition, the company’s net profit increased by 2946 percent year over year, from Rs 0.13 crores in Q2FY23 to Rs 3.96 crores in Q2FY24.
Droneacharya Aerial Innovations Ltd is a microcap stock with a market capitalization of Rs 422 crores. The share price has risen by 56 percent in the last year.
The company’s promoters hold a 28.2 percent share in the company, 70.4 percent held by the general public, and the Foreign institutional investors hold 1.31 percent.
Additionally, the stock debt-to-equity ratio is zero and the net profit margin of 18 percent is higher than its last three-year net profit margin and a return on equity of 8.5 percent and 11.5 percent.
Droneacharya Aerial Innovations Limited, founded in 2017, offers a high-end ecosystem of Drone solutions for multi-sensor Drone surveys, Drone data processing using robust high-configuration workstations, Drone pilot training, and specialized GIS training.
Written by Sriram KV
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