DroneAcharya Jumps 20% To Hit Upper Circuit On Co’s Bullish Growth Forecast For FY25

DroneAcharya Jumps 20% To Hit Upper Circuit On Co’s Bullish Growth Forecast For FY25

SUMMARY

Over 1.3 Mn shares of DroneAcharya changed hands on the BSE till the stock hit the upper circuit limit while its market capitalisation leaped to INR 340.64 Cr (around $4 Mn)

Beside, the startup also said that it is aiming to achieve 4X growth in the total number of DGCA certified drone pilot training centres. 

The company will be targeting the drone-as-a-service (DaaS) market in India. For instance, it is working on drone based AI solutions for agriculture. 

Shares of drone startup DroneAcharya Aerial Innovations jumped as much as 19.98% to reach INR 142 apiece, hitting the upper circuit during the intraday trading session on BSE today (September 13).

Over 1.3 Mn shares of DroneAcharya changed hands on the BSE till the stock hit the upper circuit limit and its market capitalisation has leaped to INR 340.64 Cr ( around $4 Mn )

This comes a day after the company said that it is targeting 200% growth in revenue, EBITDA and profit after tax (PAT) in the financial year ending March 2025 (FY25), according to its exchange filing. 

Beside, the startup also said that it is aiming to achieve 4X growth in the total number of DGCA certified drone pilot training centres. 

The company further said in its filing that it will be targeting the drone-as-a-service (DaaS) market in India. For instance, it is working on drone based AI solutions for agriculture. 

It further added that it is developing advanced defence grade drones for intelligence, surveillance, and reconnaissance (ISR) missions, while also loitering a munition product line for counter strike missions. 

Furthermore, the startup is also developing anti drone solutions for government and defence organisations. 

Droneacharya made its market debut in December 2022 at the listing price of INR 102 per share, which was a significant premium over the issue price of INR 54 apiece. 

On the financial front, DroneAcharya’s operating revenue increased nearly 90% to INR 35.19 Cr in the financial year ending March 2024 from INR 18.56 Cr in FY23. 

The company reported a consolidated PAT of INR 6.2 Cr in FY24, almost 2X increase from INR 3.42 Cr in the same period of the previous fiscal year.

In January this year, the company secured a contract from the Indian Army to provide capacity building and advanced drone training at the Mechanised Army Courses Group, Ahmednagar. 

The shares of the startup are down by 25.69% since the start of the calendar year.

Notably, the startup forayed into drone manufacturing and spacetech industry last year.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

DroneAcharya Jumps 20% To Hit Upper Circuit On Co’s Bullish Growth Forecast For FY25-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

DroneAcharya Jumps 20% To Hit Upper Circuit On Co’s Bullish Growth Forecast For FY25-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

DroneAcharya Jumps 20% To Hit Upper Circuit On Co’s Bullish Growth Forecast For FY25-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

DroneAcharya Jumps 20% To Hit Upper Circuit On Co’s Bullish Growth Forecast For FY25-Inc42 Media
DroneAcharya Jumps 20% To Hit Upper Circuit On Co’s Bullish Growth Forecast For FY25-Inc42 Media
You’re in Good company