High ROE & high ROCE multibagger stock: This drone company launches a new e-commerce drone hub platform; details inside!
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 112 per share.
Drone Destination has launched a new e-commerce drone hub platform offering drones, drone parts and consumables, avionics and BIS-approved drone batteries for the drone industry. This new business vertical shall ensure timely supply-chain support to the Indian drone ecosystem and offer customers with efficient after-sales service.
Earlier, has won a contract from the Bangalore Development Authority (BDA) for conducting a drone survey & 3D model generation for the BDA Area. The contract value of the project is Rs 2,55,00,000. This project marks a significant addition to our drone service offerings, as the country is gearing up for urban mapping & development projects, and the upgradation of traditional 2D to 3D Models with the help of drones.
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.
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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 Monday, shares of Drone Destination Limited plunged 0.24 per cent to Rs 266.95 per share from its previous closing of Rs 267.60. The stock’s 52-week high is Rs 462 and its 52-week low is Rs 112. The company has a market cap of Rs 648.69 crore and the lot size is 1,000 equity shares.
The shares of the company have an ROE of 20 per cent and an ROCE of 24 per cent. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 112 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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