Multibagger drone stock under Rs 200 in green after the company bagged a fresh order worth Rs 1,43,36,000 from Chambal Fertilisers and Chemicals Ltd
The stock has an ROE of 27.40 per cent and an ROCE of 33.20 per cent.
Drone Destination Ltd, a company located at Office No. 005B & 006, Ground Floor, NSIC-MDBP Building, Okhla Industrial Estate, New Delhi-110020, has received a purchase order worth Rs. 1,43,36,000 (plus applicable GST) from Chambal Fertilisers and Chemicals Limited. This order entails the supply of 20 agriculture spray drones, their supporting accessories, and training.
The training has been imparted to Namo Drone Didis nominated by Chambal Fertilisers and Chemicals Limited under the PM Namo Drone Didi Scheme. This program aims to empower women from self-help groups (SHGs) by turning them into skilled drone operators and entrepreneurs.
Drone Destination Limited provides drone-powered solutions. The company offers survey and mapping, asset inspection, surveillance, monitoring, precision agriculture, and other related services. Drone Destination operates in India. According to half-yearly results, the net sales increased by per cent to Rs 5.48 crore and net profit increased by 564 per cent to Rs 0.39 crore in H1FY24 compared to H1FY23. In its annual results, the net sales skyrocketed by 371.48 per cent to Rs 12.07 crore and net profit skyrocketed by 1,061.90 per cent to Rs 2.44 crore in FY23 compared to FY22.
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Today, shares of Drone Destination Limited surged 2.15 per cent to Rs 188.90 per share from its previous closing of Rs 184.95 with an intraday high of Rs 190 and an intraday low of Rs 186.25. The company has a market cap of Rs 459 crore and the lot size is 2,000 equity shares. The stock gave multibagget returns of 100 per cent from its 52-week low of Rs 95 per share. The stock has an ROE of 27.40 per cent and an ROCE of 33.20 per cent. 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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