FIIs bought 1,71,000 shares: This drone company reports stellar results; PAT zooms 81.4 per cent to Rs 6.20 crore

The shares of the company saw a spurt in volume by more than 2 times on BSE.

On Friday, shares of DroneAcharya Aerial Innovations Ltd plunged 2.13 per cent to Rs 138.15 per share with an intraday high of Rs 144 and an intraday low of Rs 137. The stock’s 52-week high is Rs 221 and its 52-week low is Rs 125.25. The shares of the company saw a spurt in volume by more than 2 times on BSE.

According to standalone annual results, the net sales increased by per cent 95.2 per cent to Rs 37.35 crore and net profit increased by 81.4 per cent to Rs 6.20 crore in FY24 compared to FY23. In its consolidated annual results, the net sales increased by per cent 94.9 per cent to Rs 37.29 crore and net profit increased by 79.2 per cent to Rs 6.13 crore in FY24 compared to FY23.

DroneAcharya has firmly established itself as a major player in the drone industry, not just in India but internationally as well. They have secured significant projects overseas, demonstrating their expertise in drone-based solutions for diverse sectors. In the Oil and Gas sector of Qatar, they landed a project worth Rs 10.48 Crores, showcasing their capabilities in this specialized field. Additionally, its project involving Drone and GIS Data Processing in the United Kingdom, valued at Rs 4.67 Crores, highlights its proficiency in data management and analysis.

DroneAcharya has also made significant contributions to India's defence sector. They emerged as a frontrunner in supplying reliable FPV (First Person View) drones to various defence organizations, fulfilling multiple tenders for these advanced systems. Recognizing the need for skilled operators of this sophisticated equipment, DroneAcharya has also successfully secured contracts to provide FPV drone pilot training programs. This demonstrates their commitment to not only supplying technology but also ensuring its effective utilization.

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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. The company has a market cap of Rs 345 crore.

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