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.
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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.
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