Shankar Sharma’s portfolio micro-cap stock: This drone company bags new orders worth Rs 1,56,78,840 from Government of Haryana & TCS!

The stock is up by 75 per cent from its 52-week low of Rs 111.15 per share.

DroneAcharya Aerial Innovations Limited informed that the company has bagged new orders worth Rs 1,56,78,840 from the Government of Haryana & TCS. Here are the details:

Order No – 1: The company received an order worth Rs 1,41,00,000 from the Government of Haryana. The order includes the supply of high-end surveying drones from DRIISHYA, Government of Haryana. This landmark project marks a crucial advancement in the utilization of drone technology for various applications within the state, including urban mapping, planning, execution, and other departments' operations.

DroneAcharya's recent tender win from the Haryana government further cements drone adoption in the state's operations, aligning with PM Modi's vision for a global drone hub by 2030, and setting an inspiring example for wider drone integration across India.

Order No – 2: The company received another order worth Rs 15,78,840 from Tata Consultancy Services (TCS). The order includes delivery 5G Drone Solutions. This entails providing a 5G-enabled drone integrated with a Visual (RGB) camera and a ground control station for remote access and real-time data transmission.  

This collaboration goes beyond a simple supply contract, involving co-development and engineering of drone solutions for various sectors across India and globally. This marks a significant step for both companies and for India's drone and 5G technology advancements.

Today, shares of Droneacharya Aerial Innovations Ltd plunged 0.83 per cent to Rs 190.05 per share from its previous closing of Rs 191.65 with an intraday high of Rs 194.90 and an intraday low of Rs 190. The stock is up by 75 per cent from its 52-week low of Rs 111.15 per share.

Aamir Khan invested Rs 25 lakh to purchase 46,600 shares during the pre-IPO fundraising round, and Ranbir Kapoor spent approximately Rs 20 lakh to purchase 37,200 shares. Additionally, an ace investor, Shakar Sharma owns 4,57,000 shares or 1.91 per cent stake in the company.  

According to the half-yearly results, the net sales increased by 998.01 per cent to Rs 2,088.86 lakh, profit before tax increased by 2,934.05 per cent to Rs 533.69 lakh and PAT increased by 2,934.47 per cent to Rs 396.95 lakh in H1FY24 compared to H1FY23. According to its annual results, the net sales increased by 417.3 per cent to Rs 18.57 crore and net profit increased by 736.6 per cent to Rs 3.43 crore in FY23 compared to FY22.

The company announced that it entered into Defence and Space Technologies, the Management of DroneAcharya expects a 50 to 70 per cent CAGR (Compound Annual Growth Rate), and 20 to 25 per cent PAT (Profit After Taxes) in the next 3 years from Defence and Space Technologies. The company has a market cap of Rs 455 crore and investors should keep an eye on this micro-cap drone stock.

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