High ROE and high ROCE stock: This drone company signs an MoU with Paras Defence and Space Technologies Ltd!

The stock is up by 29 per cent in just 1 month.

Drone Destination Limited, has a registered office at C-13. Ground floor, Panchehcel Enclave, New Delhi -110017 and Paras Aerospace Private Limited, a subsidiary of Paras Defence and Space Technologies Ltd, having its registered office at D-112, TTC Industrial Area, MIDC Industrial Area, Nerul, Navi Mumbai, Maharashtra 400726, have signed an MOU to support Paras Aerospace with skilled and certified drone pilot training and along with product training requirements of Paras Aerospace.

As part of the MOU, Drone Destination shall provide certified and agriculture drone training to empower 400 Kisan Drone entrepreneurs.

About the company: 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. 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.

On Friday, shares of Drone Destination Limited plunged 0.54 per cent to Rs 128.35 per share from its previous closing of Rs 129.05 with an intraday high of Rs 132 and an intraday low of Rs 127.10. The company has a market cap of over Rs 300 crore and the lot size is 2,000 equity shares. The stock is up by 29 per cent in just 1 month.

The stock has an ROE of 27.40 per cent and a 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.