Multibagger Drone Company Secures Rs 2,55,00,000 Order from Bangalore Development Authority; Stock Surges Over 120 Per cent in Just 1 Year!

The company’s shares have delivered an impressive return of over 120 per cent to its shareholders.

This Small-Cap Drone manufactures, deals in, and provides training for drones. DDL is India's largest Drone Pilot Training provider and a leading Drone-as-a-Service (DAAS) company. Along with its sister concern, Hubblefly Technologies, a DGCA-approved manufacturer, DDL has developed an integrated drone ecosystem built around drone manufacturing, certified training, and drone-as-a-service.

Drone Destination has secured a contract from the Bangalore Development Authority (BDA) to perform a drone survey and generate 3D models for the BDA area. The project's contract value is Rs 2,55,00,000 (Rupees Two Crore Fifty-Five Lakh). This contract represents a significant expansion of the company’s drone services, aligning with the country's push towards urban mapping and development projects and transitioning from traditional 2D to advanced 3D models using drones.

Today, the shares of Drone Destination Ltd closed at around Rs 285.40 per share. The company’s current market capitalization stands at Rs 693.52 crore. The stock has delivered a multibagger return of over 120 per cent in the past 1 year.

As per the half-yearly results, in March 2024, Drone Destination Ltd recorded a revenue of Rs 26.35 crore. The operating profit for the period stood at Rs 11.16 crore. The net profit reported by the company was Rs 6.69 crore. Looking at the annual performance, the company generated a revenue of Rs 31.82 crore in FY24. The operating profit for FY24 was Rs 13.07 crore with a net profit of Rs 7.08 crore.

Investors must keep this small-cap stock on their radar.

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