High ROE & high ROCE multibagger stock: This drone company signs MoU with National Small Industries Corporation (NSIC); details inside!
The shares of the company have an ROE of 40 per cent and an ROCE of 52 per cent.
Drone Destination Ltd and the National Small Industries Corporation (NSIC) have signed a Memorandum of Understanding (MoU) to establish a state-of-the-art drone training centre at NSTC, New Delhi. This initiative aims to provide comprehensive training on drone technology, repairs and maintenance, data processing and analysis, remote pilot training and newage sport drone soccer. The centre will focus on skill development, employment generation, and empowering the drone ecosystem in India.
The collaboration between Drone Destination and NSIC is poised to bring significant advancements in the field of drone technology and AI, and develop a future-ready work force to cater to the growing and diversified demands of skilled manpower in the drone sector, especially in digital agriculture, survey & mapping, mining, asset inspection, surveillance & monitoring, disaster management and many more.
The training programs at the centre will be progressively introduced at all NSIC Technical Skill Centres, ensuring widespread access to cutting-edge drone technology education. This initiative is set to create numerous opportunities for skill development and employment, driving economic growth and innovation in the drone sector.
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About Drone Destination
Drone Destination leads India's Drone industry, providing comprehensive services from certified drone pilot training to state-of-the-art Drone-as-a-Service (DaaS) solutions. Headquartered in New Delhi, Drone Destination pioneers commercial drone operations and training across diverse sectors like agriculture and infrastructure. Notably, as the first listed Drone Company on the NSE Emerge platform, Drone Destination holds a prestigious position in the industry. The training programs set the standard, equipping aspiring pilots with safety and efficiency skills, covering regulatory compliance to advanced manoeuvres.
According to half-yearly results, the net sales increased by 393 per cent to Rs 2,711.94 lakh and net profit increased by 1,623 per cent to Rs 669.37 lakh in H2FY24 compared to H1FY24. In its annual results, the net sales increased by 170 per cent to Rs 3,262.02 lakh and net profit increased by 176 per cent to Rs 708.21 lakh in FY24 compared to FY23.
On Friday, shares of Drone Destination Limited plunged 4.54 per cent to Rs 350.40 per share from its previous closing of Rs 367.05. The stock’s 52-week high is Rs 462 and its 52-week low is Rs 95. The company has a market cap of over Rs 850 crore and the lot size is 1,000 equity shares.
The shares of the company have an ROE of 40 per cent and an ROCE of 52 per cent. The stock gave multibagger returns of 269 per cent from its 52-week low of Rs 95 per share. Investors should keep an eye on this SME stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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