High ROE & high ROCE multibagger drone stock hit upper circuit as company reports robust financial performance for FY24; PAT zooms over 1,600 per cent

The stock gave multibagger returns of over 200 per cent from its 52-week low of Rs 95 per share.

Drone Destination Ltd, a leading Indian drone company listed on the NSE Emerge platform (NSE Code - INE0P7201019), offers a one-stop shop for drone services, from training future pilots to real-world applications through Drone-as-a-Service (DaaS) solutions. Headquartered in New Delhi, they are pioneers in commercial drone operations and training across various sectors like agriculture and infrastructure. Their training programs are considered the gold standard, equipping pilots with the knowledge and skills for safe and efficient flight, from regulatory compliance to advanced manoeuvres. At the same time, Drone Destination offers DaaS solutions tailored to specific needs, including agricultural spraying, aerial surveying, and asset inspection services. Through their commitment to innovation in both training and DaaS, Drone Destination empowers individuals and industries to take advantage of drone technology, shaping the future of this rapidly growing field.

Drone Destination, a leader in India's drone services and training, achieved a significant milestone by becoming the first drone company to list on NSE Emerge. Their commitment to skilling the workforce is evident through training over 2,100 pilots in collaboration with IGRUA, and actively supporting the "Namo Drone Didi" scheme by training over 600 women nominated by major fertilizer companies like IFFCO. Their expertise is demonstrated by winning and executing an independent drone survey project for Andhra Pradesh, mapping a vast 1.4 lakh hectares. Further diversifying their services, Drone Destination ventured into agricultural spraying, deploying nearly 200 drones and pilots for IFFCO, and conducting demonstrations across 28,000 villages under the Viksit Bharat Sankalp Yatra initiative. Additionally, they aim to expand their training footprint pan-India through the introduction of new "Kickstarter" and "Training Partner" programs.

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According to half-yearly results, the net sales increased by 393 per cent to Rs 2,711.94 lakh and net profit increased by 1,623 per cent to Rs 669.37 lakh in H2FY24 compared to H1FY24. In its annual results, the net sales increased by 170 per cent to Rs 3,262.02 lakh and net profit increased by 176 per cent to Rs 708.21 lakh in FY24 compared to FY23.

Today, shares of Drone Destination Limited hit a 5 per cent upper circuit to Rs 292.65 per share from its previous closing of Rs 278.75. The stock’s 52-week high is Rs 310 and its 52-week low is Rs 95. The company has a market cap of over Rs 700 crore and the lot size is 1,000 equity shares.

The shares of the company have an ROE of 40 per cent and an ROCE of 52 per cent. The stock gave multibagger returns of over 200 per cent from its 52-week low of Rs 95 per share. Investors should keep an eye on this SME stock.

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