During Tuesday’s trading session, the shares of this micro-cap company hit a 2 percent upper circuit at Rs. 44.68 on BSE, following business updates on the progress of the aerCar project.
With a market cap of Rs. 668 crores, the shares of Aerpace Industries Limited opened in the green at Rs. 44.68, up by nearly 2 percent, as against its previous closing price of Rs. 52.15.
What’s the news:
In accordance with the regulatory filings submitted to the stock exchanges, Aerpace Industries Limited has provided an update on the progress of its aerCar project, integrating ground and air transportation through innovative technology.
As part of this project, the company has been working on the Car platform, which was acquired from Bordrin Motors, USA.
The platform is currently undergoing advanced design modifications and technical adjustments to meet the unique requirements of the proprietary transportation ecosystem. This ecosystem combines the functionality of a lightweight, energy-efficient ground vehicle with the versatility of a large airborne drone.
The key features of the aerCar include its lightweight design, fly-ready capabilities, modular battery system for maximum efficiency, customizable range, reduced weight for higher efficiency, lower consumer costs, and battery-on-demand technology.
Aerpace Industries announced that the RA Mill Clay Model Milling Machine from Wenzel DesignTec, Germany, has been delivered and will be operational by January 2025. This advanced equipment will be pivotal in creating precise clay models for the aerCar and its associated drone, the aerWing, ensuring a streamlined and efficient design process.
Financials:
Aerpace Industries reported a significant growth in revenue from operations, experiencing a year-on-year increase of nearly 33.3 percent, rising from Rs. 0.3 crores in Q2 FY24 to Rs. 0.4 crores in Q2 FY25.
Similarly, during the same period, the company’s net loss widened from Rs. 0.3 crores to Rs. 0.7 crores.
Stock Performance:
The stock has delivered multibagger returns of nearly 1,010.8 percent in one year, as well as around 123.7 percent returns in the last six months. So far in 2024, the shares of Aerpace Industries have given multibagger returns of about 747.3 percent.
About the company:
Aerpace Industries Limited, formerly known as Supremex Shine Steels Limited, is a new ecosystem focused on creating a national flying system for inter-city and interstate travel. The company is also engaged in the business of renewable energy and infrastructure.
Aerpace conducted a study on current travel demand and developed a combined road and air transport model, providing a more convenient, economical, and comfortable travel solution. The company aims to enhance access to both private and public transit while reducing vehicle miles and traffic congestion.
Earlier, it was engaged in the trading of steel and acted as an advisor and consultant on all matters and complications relating steel industry.
Aerpace transitioned to renewable energy and infrastructure in 2023. In 2024, it launched aerWing, a versatile aerial vehicle for applications like aerTaxi, aerDrive, aerCargo, and aerCare.
The company also established a 400 MW solar panel manufacturing line and an R&D centre in Pune, spanning 1.8 lakh square feet.
Written by Shivani Singh
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