Shankar Sharma’s portfolio stock: This drone company bags new order worth Rs 4,67,11,224 from iRed Ltd, United Kingdom

Shankar Sharma’s portfolio stock: This drone company bags new order worth Rs 4,67,11,224 from iRed Ltd, United Kingdom

Kiran Shroff
/ Categories: Trending, Mindshare

Aamir Khan invested Rs 25 lakh to purchase 46,600 shares during the pre-IPO fundraising round, and Ranbir Kapoor spent approximately Rs 20 lakh to purchase 37,200 shares.

DroneAcharya Aerial Innovations Ltd announced that it has secured a significant work order valued at INR 4,67,11,224.00 (Rupees Four Crore Sixty-Seven Lakh Eleven Thousand Two Hundred and Twenty-Four) for Drone and Geographic Information System (GIS) Data Processing from iRed Ltd, United Kingdom. This substantial contract marks a significant milestone for the company, underscoring its leading position in the booming field of drone technology and data analytics.

Amidst a surge in demand for drone data collection across government and private sectors, DroneAcharya Aerial Innovations offers exceptional processing and analytics services. Their team of GIS experts leverages years of experience with various drone data formats, like visual RGB, thermal, LiDAR, and multispectral, to deliver customized solutions for diverse industries – from mining and agriculture to powerline inspections and road surveys.

This latest work order not only underscores DroneAcharya's prowess in drone technology and data analytics but also reaffirms its commitment to driving innovation and delivering value to its clientele. With a track record of excellence and a forward-thinking approach, DroneAcharya Aerial Innovations is well-positioned to capitalize on the growing demand for advanced drone-based solutions globally.

Droneacharya Aerial Innovations Ltd, founded in 2017, offers drone pilot training, supplies drones, and provides maintenance services. They also consult government and private organizations and offer various other drone-related services like surveying, inspections, and environmental monitoring. The company collaborates with educational institutions worldwide, recently launched a defence-focused drone, and is expanding both through acquisitions and franchises.

Aamir Khan invested Rs 25 lakh to purchase 46,600 shares during the pre-IPO fundraising round, and Ranbir Kapoor spent approximately Rs 20 lakh to purchase 37,200 shares. Additionally, an ace investor, Shakar Sharma owns 4,57,000 shares or 1.91 per cent stake in the company.  

In December 2023, BofA Securities Europe Sa, an FII bought 1,67,000 shares at Rs 188 per share aggregating to Rs 3,13,96,000 or 3.14 crore. (BofA Securities Europe SA operates as an institutional broker. The company offers fixed income, currency, and commodities financial instruments dealing, as well as investment banking advisory, underwriting, and post-trade related services. BofA Securities Europe SA serves customers worldwide).

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 368 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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