Small-Cap Drone Stock Hits Upper Circuit Today; Net Profit Surges Over 3,200 Per cent in Just 2 Years with Operating Margin Growth of Over 2.5 Times

The company’s shares have delivered an impressive return of over 70 per cent to its shareholders.

This Small-Cap Drone manufacturing company’s shares hit the upper circuit on the very first day of this trading week. The company deals with and provides training for drones. It is India's largest Drone Pilot Training provider and a leading Drone-as-a-Service (DAAS) company. Along with its sister concern, Hubblefly Technologies, a DGCA-approved manufacturer, it has developed an integrated drone ecosystem built around drone manufacturing, certified training, and drone-as-a-service.

Today, the shares of Drone Destination Ltd rallied and hit the upper circuit and finally, closed at around Rs 212.40 per share. The company’s current market capitalization stands at Rs 516.13 crore. The stock has delivered an impressive return of over 70 per cent in the past 1 year. Moreover, the shares have delivered a multibagger return of over 220 per cent compared to the final IPO issue price of Rs 65 each.

The company doesn’t announce Quarterly Results and as per the half-yearly results in March 2024, Drone Destination Ltd recorded a revenue of Rs 26.35 crore. The operating profit for the period stood at Rs 11.16 crore. The net profit stood at Rs 6.69 crore. Looking at the annual performance, the company generated a revenue of Rs 31.82 crore in FY24 compared to Rs 12.07 crore. The operating profit for FY24 was Rs 13.07 crore with a net profit of Rs 7.08 crore compared to Rs 2.56 crore.

Furthermore, the company’s net profit surged from Rs 0.21 crore in FY21 to Rs 7.08 crore in FY24 representing a growth of over 3,200 per cent while operating margins surged from 15.23 per cent to 41.07 per cent during the same period.

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