Debt-free drone company signs MoU with Chennai’s Zuppa Geo Navigation Technologies Pvt Ltd; details inside!

The company has a market cap of Rs 345 crore and currently, the company is debt-free.

DroneAcharya Aerial Innovations Ltd announced that it has signed a Memorandum of Understanding (MoU) with Chennai’s Zuppa Geo Navigation Technologies Pvt Ltd. (hereafter known as "Zuppa"). This agreement establishes DroneAcharya as a channel partner for Zuppa's drone sales, services, and training across India.

In a move to promote self-reliance (Aatmanirbhar) in India's drone technology, DroneAcharya has partnered with Zuppa to become the nationwide sales and service channel for Zuppa's drones. Zuppa's indigenous surveillance and inspection drones boast features like live mobile video feed and recording for detailed analysis, making them a secure alternative to imported drones from DJI, Parrot, Skydio, and Autel. These cutting-edge drones, already trusted by the Indian Defence Forces and Homeland Services, will be actively promoted by DroneAcharya to their existing and potential customers.

This partnership is perfectly aligned with the vision of our Honorable Prime Minister, Shri Narendra Modi, to establish India as a Global Drone Hub by 2030. Collaborative and mutually beneficial partnerships such as this one will support and accelerate the growth of Indian companies by fostering cooperation rather than competition.

About Zuppa

Zuppa Geo Navigation Technologies Pvt Ltd. is a leading drone manufacturing company with 80 per cent of its components made indigenously under the Make in India initiative. Zuppa specializes in producing autopilot flight controllers and proprietary firmware. The company also offers DGCA Approved Type Certified drones for various applications, including RPTO and surveillance, and is involved in numerous projects and product development solutions. 

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About DroneAcharya Aerial Innovations Ltd

DroneAcharya Aerial Innovations Ltd. is a leading provider of drone-based solutions, dedicated to pushing the boundaries of innovation in aerial technologies and AI-driven applications. With a focus on delivering cutting-edge solutions, DroneAcharya is committed to transforming industries through the integration of drones and automation. As of March 2024, FIIs bought 1,71,000 shares and increased their stake to 2.02 per cent compared to 1.31 per cent in September 2023. 

According to the half-yearly results, the net sales increased by 998.01 per cent to Rs 20.9 crore, profit before tax increased by 2,934.05 per cent to Rs 5.34 and PAT increased by 2,934.47 per cent to Rs 4 crore in H1FY24 compared to H1FY23. According to its annual results, the net sales increased by 417.3 per cent to Rs 18.57 crore and net profit increased by 736.6 per cent to Rs 3.43 crore in FY23 compared to FY22. The company has a market cap of Rs 345 crore and currently, the company is debt-free.

Disclaimer: The article is for informational purposes only and not investment advice.