Shankar Sharma’s portfolio multibagger stock: This drone company secures a pivotal contract from the Ministry of Defence; scrip gains over 10 per cent!

The stock is up over 100 per cent from its 52-week low of Rs 96.90 per share.

On Friday, shares of Droneacharya Aerial Innovations Ltd gained 10.9 per cent to an intraday high of Rs 217.95 per share from its previous closing of Rs 196.55. At the closing bell, shares of the company were trading at Rs 206.15 per share, up, 4.88 per cent with a spurt in volume by more than 2.82 times on BSE. The stock is up over 100 per cent from its 52-week low of Rs 96.90 per share.

In a major win for Indian defence development, DroneAcharya Aerial Innovations has secured a crucial contract from the Ministry of Defence’s Department of Military Affairs. This agreement involves supplying cutting-edge drone simulators to NCPITS (CBS) in Bhalra, Jammu & Kashmir. This marks a pivotal step for DroneAcharya, enabling them to contribute directly to enhanced military training and development programs.

The contract underscores DroneAcharya's commitment to two key areas: pioneering aerial technology advancements and supporting the defence sector with innovative solutions. It aligns perfectly with the Ministry's vision of empowering its personnel with advanced drone piloting and aerial manoeuvre skills. DroneAcharya's simulators, leveraging the latest in simulation technology, will play a central role in honing the expertise of military personnel, and preparing them for real-world scenarios.

Furthermore, the contract scope is closely aligned with DroneAcharya's existing offerings in professional drone-centric courses. Their unwavering dedication to pushing the boundaries of aerial technology and their innovative approach has rightfully positioned them as a frontrunner in this rapidly evolving field.

This partnership promises to be a significant step forward for both DroneAcharya and the Indian defence sector, paving the way for a future of enhanced training and cutting-edge technological solutions.

According to the half-yearly results, the net sales increased by 998.01 per cent to Rs 2,088.86 lakh, PBT increased by 2,934.05 per cent to Rs 533.69 lakh and PAT increased by 2,934.47 per cent to Rs 396.95 lakh 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 announced that it entered into Defence and Space Technologies, the Management of DroneAcharya expects a 50 to 70 per cent CAGR (Compound Annual Growth Rate), and 20 to 25 per cent PAT (Profit After Taxes) in the next 3 years from Defence and Space Technologies.

DroneAcharya, a leading drone startup in India, triples its training reach with a new centre at IIT Ropar and plans for 30 more across the country. Their DGCA-certified training, already boasting the highest market share among private organizations, caters to the booming demand for skilled drone professionals, while the new centres will act as hubs for training, product development, and drone-based services, cementing DroneAcharya's position as a major player in India's drone industry.

As of the September quarter, Shakar Sharma owns 4,57,000 shares or 1.91 per cent stake in the company. The company has a market cap of Rs 495 crore and investors should keep an eye on this multibagger micro-cap drone stock.

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