DroneAcharya Shares Surge 8% During Intraday

Amid gains in broader Indian indices during early trading today (February 19), shares of DroneAcharya jumped up to 8.54% to touch an intraday high of INR 74.95. 

By 10:50 AM, the stock was still up 7.17%, trading at INR 74 against its previous close of INR 69.05.

At this price, the company’s market capitalisation stood at INR 175 Cr, with a trading volume of 40K.

The rally comes just a day after the stock hit an all-time low of INR 67.75 on February 18. Despite today’s rebound, DroneAcharya has lost 12.42% in the last five trading sessions and remains down 33% over the past month and 58% over the past year.

Meanwhile, India’s benchmark indices, Sensex and Nifty 50, also traded in the green. By 11 AM, the Sensex was up 34.42 points at 76,000.19, while the Nifty inched up 3 points to 22,946.15.

The drone maker’s consolidated profit after tax (PAT) plunged 62.1% to INR 1.50 Cr in the six months ended September 2024 (H1 FY25) from INR 3.96 Cr a year back, though its revenue from operations zoomed 28.8% to INR 26.90 Cr from INR 20.88 Cr in this period.

Founded by Prateek Srivastava in 2017, DroneAcharya offers an array of drone solutions for multi-sensor drone surveys, pilot training, and data processing. The startup forayed into the spacetech industry in 2023.

Amidst other recent developments, it set up a wholly owned subsidiary in the UAE last month. It also bagged an INR 18.70-Lakh contract from the Indian Army wherein it will set up a dedicated drone training lab for army personnel, it had said in an exchange filing.

The BSE SME-listed company signed a term sheet for a merger with agri-drone company AITMC Ventures before the army deal. In a post on LinkedIn, DroneAcharya said that the two companies will jointly work to provide industrial, enterprise, defence and spacetech solutions to their clients.