The shares of this microcap compnay fell around 2 percent despite receiving a significant service order from the Indian Institute of Technology (IIT) Ropar. On a YTD basis, the stock has declined by approximately 30 percent.
Price Movement:
With a market capitalization of Rs. 317 crores, the shares of Droneacharya Aerial Innovations Ltd started Monday’s trading session on a lower note at Rs. 132.10 compared to its previous close of Rs. 134.05. During the trading session, the shares hit a low of Rs. 130.75, losing around 2 percent and are currently trading at Rs. 133 apiece.
What Happened:
According to the exchange filing, the company was awarded a significant service order from the Indian Institute of Technology (IIT) Ropar. This initiative is part of the Punjab Skill Development Mission (PSDM) and represents a substantial investment of approximately Rs. 50.44 lakh in enhancing drone skills among participants.
The service order is a component of the Memorandum of Understanding (MoU) between IIT Ropar and the Centre for Training and Employment of Punjab Youth (C-PYTE), Government of Punjab. Under this collaboration, DroneAcharya will provide specialized drone pilot training to the selected individuals.
Financials:
Looking at the company’s financial performance, the revenue zoomed by 88 percent from Rs. 18.57 crores in FY22-23 to Rs. 34.96 crores in FY23-24. In addition, the net profits surged by 77 percent from Rs. 3.43 crores to Rs. 6.08 crores during the same period.
Important Financial Ratios:
In terms of key financial metrics, the company reported a Return on Equity (RoE) of 8.39 percent and a return on capital employed (RoCE) of 11.50 percent for the period spanning FY23-24. Further, the net profit margin stood at 17.24 percent during the same timeframe.
Shareholding Pattern:
According to the latest shareholding pattern, Promoters hold 28.21 percent of the shares, Foreign Institutional Investors (FIIs) possess 2.02 percent, and Retail Investors hold the remaining 69.78 percent.
Company Profile:
Incorporated in 2017, Droneacharya Aerial Innovations Ltd provides Drone operation training, supply and maintenance services, and management consultancy and training services.
Written By Vaibhav Patil
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