FIIs bought 1,71,000 shares: This drone company signs agreement with CBAI Technologies Pvt Ltd to purchase 200 type certified training drones!

The agreement entails the procurement of 200 type certified training drones over a span of 3 years.

DroneAcharya Aerial Innovations Limited, a pioneering entity in India's burgeoning drone industry, has inked a landmark agreement with CBAI Technologies Private Limited. The agreement entails the procurement of 200 type certified training drones over a span of 3 years, marking a significant stride in DroneAcharya's mission to revolutionize drone education and skill development in the country.

Headquartered in Pune, DroneAcharya has become a leader in DGCA-certified drone pilot training, establishing its main training center in Pune with cutting-edge facilities. Through partnerships with IIT Ropar, Rashtriya Raksha University and Subhkhyati Aerospace Pvt Ltd, DroneAcharya has expanded its reach to Punjab, Gujarat and Rajasthan respectively. Since starting drone training in 2022, DroneAcharya has become the highest-rated DGCA-certified drone pilot training center in India, boasting the most training sessions conducted by a private entity.

Also Read: Artificial Intelligence (AI) revolutionizing healthcare: A look at the present and future!

About DroneAcharya Aerial Innovations Ltd

DroneAcharya Aerial Innovations Ltd. is a leading provider of drone-based solutions, dedicated to pushing the boundaries of innovation in aerial technologies and AI-driven applications. With a focus on delivering cutting-edge solutions, DroneAcharya is committed to transforming industries through the integration of drones and automation. As of March 2024, FIIs bought 1,71,000 shares and increased their stake to 2.02 per cent compared to 1.31 per cent in September 2023. 

According to the half-yearly results, the net sales increased by 998.01 per cent to Rs 20.9 crore, profit before tax increased by 2,934.05 per cent to Rs 5.34 and PAT increased by 2,934.47 per cent to Rs 4 crore 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 has a market cap of over Rs 400 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.