DroneAcharya Shares Touch Fresh All-Time Low

SUMMARY

The stock was last down 5.8% at INR 73.60 per share, as of 11:30 AM, on the BSE, compared to its previous close of INR 78.15 apiece on Friday

The share loss drove its market capitalisation of the company to INR 176.56 Cr, while it ended the last eight trading sessions in red

BSE Sensex was down by 0.46% at 75,587.31, while the Nifty50 fell 0.42% to 22,833.90, as of 11:38 AM

Shares of DroneAcharya Aerial Innovations slumped 6.6% to touch fresh all-time low of INR 73 apiece during the intraday trading session on the BSE today (February 17).

The stock was last down 5.8% at INR 73.60 per share, as of 11:30 AM, on the BSE, compared to its previous close of INR 78.15 apiece on Friday (February 14).

The share loss drove its market capitalisation of the company to INR 176.56 Cr.

The stock has ended the last eight trading sessions in red, losing 20.8% in value since February 4.

Meanwhile, since the start of this year, the company’s shares have ended nine sessions in green. Also, the stock has lost 55.4% in value in the past 52 weeks of trading.

To note, Indian benchmark indices have opened lower for the ninth consecutive session today, where the BSE Sensex was down by 0.46% at 75,587.31, while the Nifty50 fell 0.42% to 22,833.90, as of 11:38 AM.

DroneAcharya, founded by Prateek Srivastava in 2017, 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.

The BSE SME-listed company bagged a INR 18.70-Lakh contract from the Indian Army, earlier this year, where it will set up a dedicated drone training lab for army personnel.

DroneAcharya also 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.

On the financial front, DroneAcharya’s profit slid 62.1% to INR 1.50 Cr during the six months ended September 2024 (H1 FY25) from INR 3.96 Cr in the same period last year. However, revenue from operations went up 28.8% to INR 26.90 Cr during the year under review from INR 20.88 Cr in the first half of FY24.