FIIs bought 1,71,000 shares: This drone company secured a work order worth Rs 53,00,000 from Alter Dynamics and Artificial Intelligence LLC
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.
DroneAcharya Aerial Innovations Ltd announced the acquisition of a significant work order valued at AED 239,819.00 (Rs 53,00,000) from Alter Dynamics & Artificial Intelligence. The project entails the utilization of drones for the inspection of piles above water, catering to the stringent requirements of Abu Dhabi National Oil Company (ADNOC).
This collaboration marks a much-needed integration of Advanced Drone Tech with Conventional Industries, particularly in offshore assets. The deployment of drones equipped with high-resolution sensors promises a comprehensive, expedited, and intelligent inspection solution. DroneAcharya Aerial Innovations remains committed to advancing technological innovation and delivering exceptional value to its clients across diverse sectors.
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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 373 crore and investors should keep an eye on this micro-cap drone stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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