DroneAcharya Fined For Delay In Submission Of Financials

SUMMARY

The stock exchange has slapped DroneAcharya with a fine of INR 1.3 Lakh for delaying the submission of its financial results for H2 FY25

As per the BSE, the fine is imposed for for alleged non-compliance of Regulation 33 of SEBI Regulation 2015

Founded in 2017, DroneAcharya is a drone and data-based solution provider which offers solutions, including multi-sensor drone surveys, pilot training and data processing

Listed dronetech startup DroneAcharya has been slapped with a fine of INR 1.3 Lakh by the BSE for delay in the submission of its financial results for the second half of the fiscal year ended March 2025 (H2 FY25).

In an exchange filing, the BSE SME-listed drone company said that the fine was imposed for alleged non-compliance with Regulation 33 of SEBI Regulation 2015.

“We would like to inform that on basis of the said communication, the company is in the process of making necessary representation to BSE Ltd with detailed reasons and requesting for waiver of the imposition of fine,” the filing added.

Last week, DroneAcharya said that the delay in submission of its financial statements was due to “delays in the audit process, primarily caused by resource constraints and extended internal review procedures”.

“We acknowledge our responsibility to adhere to the regulatory requirements and ensure timely compliance with all obligations. Unfortunately, due to administrative oversight, pre – scheduled commitments toward the company, we encountered a delay in filing the required declaration,” DroneAcharya’s filing dated June 20 added.

Notably, this is not the first time that DroneAcharya has been fined for delay in submitting its financial results. In 2024, the BSE imposed a fine of INR 5,900 on it for the delay in submission of standalone and consolidated financial results for FY24.

Founded by Prateek Srivastava and Amit Takte in 2017, Pune-based DroneAcharya is a drone and data-based solution provider which offers solutions, including multi-sensor drone surveys, pilot training and data processing. The company’s shares got listed in 2022 at a premium of almost 90% to its issue price of INR 54 apiece.

In H1 FY25, the company recorded a 62.1% drop in its consolidated profit after tax (PAT) to INR 1.50 Cr from INR 3.96 Cr in the same period last year. Meanwhile, revenue from operations rose 28.8% to INR 26.90 Cr during the time period under review from INR 20.88 Cr in the first half of FY24.

Notably, the company recently pulled the brake on its merger with agri-drone company AITMC Ventures to re-evaluate the term sheet and focus on the current growth and future opportunities in the sector.