Shankar Sharma’s portfolio stock with 2,950 per cent jump in net profit: This drone company announces stellar half-yearly results (H1FY24)!

The stock is up by 93 per cent from its 52-week low of Rs 96.90 per share.

DroneAcharya Aerial Innovations Ltd announced its stellar half-yearly results for the fiscal year 2024. Here are the details:

Results: According to the half-yearly results, the net sales increased by 998.26 per cent to Rs 20.89 crore and the net profit increased by 2,950 per cent to Rs 3.97 crore in H1FY24 compared to H1FY23. According to its annual results, the net sales increased by 417.7 per cent to Rs 18.57 crore and net profit increased by 746 per cent to Rs 3.43 crore in FY23 compared to FY22.

Earlier, DroneAcharya Aerial Innovations has secured a USD 12,60,000 (Rs 10.5 crore) order for the supply of drones and IT hardware, drone data acquisition and processing services and supply of decision support system/project management software in Qatar. The company has also signed a Franchise deal with Wollstone Capital SA to open thirty (30) Remote Pilot Training Organizations (RPTO) across India and launched BHUJANG, a heavy lift-off, super-high-altitude, long-range drone with multiple capabilities.

Incorporated in 2017, Droneacharya Aerial Innovations Limited provides a high-end ecosystem of Drone solutions for multi-sensor Drone surveys and data processing of Drone data. The company has a market cap of Rs 430 crore. As of September quarter, an ace investor, Shakar Sharma owns 4,57,000 shares or 1.91 per cent stake in the company.

On Wednesday, shares of Droneacharya Aerial Innovations Ltd plunged 1.25 per cent to Rs 181.1 per share with an intraday high of Rs 187.15 and an intraday low of Rs 178.55. The stock is up by 93 per cent from its 52-week low of Rs 96.90 per share. Investors should keep an eye on this micro-cap drone stock.

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