Shankar Sharma’s portfolio stock with 2,950 per cent jump in net profit: This drone company bags new order worth Rs 96,00,000 from Karnataka Forest Department!

The stock is up by 87 per cent from its 52-week low of Rs 96.90 per share.

DroneAcharya Aerial Innovations Ltd announced that has been awarded India’s largest DGCA Certified Drone Pilot Training Tender for Government officers of Karnataka valued at Rs 96,00,000, by the Karnataka Forest Department. The scope of work for this ambitious tender includes training of 240 officers in DGCA-certified drone pilot training as well as in applications of Drones in Forestry and Surveillance in two phases. This project holds the potential for the training of at least 13,000 government personnel in Karnataka in the due course of time.

The new collaboration between the Karnataka Forest Department and a drone manufacturer will provide the department with the latest drone technology to enhance surveillance, search and rescue operations, and the tracking of poachers across the total area of 38,730 sq. km of forest area in the state. The project will also train forest officials to effectively employ drones in their day-to-day operations.

Earlier, the company is making waves on the global stage as it commences full-fledged operations in five diverse countries: the Philippines, Thailand, UK, US, and Qatar. This remarkable expansion marks a significant milestone for DroneAcharya, as it becomes one of the first few Indian companies with comprehensive operations in sales, services, and training in the field of drones across the international landscape.

The grand entrance into the European market comes with an exciting order, solidifying DroneAcharya's international presence. The company has received an order for the supply of 30 units of their international standard agricultural drone - the AgriVeer. This order highlights the remarkable confidence that global markets have in DroneAcharya's innovative solutions. The AgriVeer is currently in the process of attaining Type certification and post this, the product will be launched in the Indian market as well.

Results: According to the Quarterly Results, the net sales increased by 28.3 per cent to Rs 9,435.82 lakh and the net profit increased by 52 per cent to Rs 247.34 lakh in Q2FY24 compared to Q2FY23. According to the half-yearly results, the net sales increased by 34.5 per cent to Rs 19,142.53 lakh and the net profit increased by 91 per cent to Rs 604.82 lakh in H1FY24 compared to H1FY23. According to its annual results, the net sales increased by 34.27 per cent to Rs 313.48 crore and net profit increased by 61 per cent to Rs 8.48 crore in FY23 compared to FY22.

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 the September quarter, Shakar Sharma owns 4,57,000 shares or 1.91 per cent stake in the company.

Today, shares of Droneacharya Aerial Innovations Ltd gained 0.22 per cent to Rs 179.70 per share with an intraday high of Rs 180.65 and an intraday low of Rs 177. The stock is up by 87 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.