DroneAcharya Shares Zoom 3% In Intraday Trade

SUMMARY

Shares of DroneAcharya Aerial Innovations rallied over 3% to INR 99.35 apiece in intraday trade on the BSE today (February 4)

The stock traded at INR 98.50 around 02:00 PM, up 2.3% from its Monday close of INR 96.30

The company’s shares rebounded after four straight sessions in the red

Shares of DroneAcharya Aerial Innovations rallied over 3% to INR 99.35 apiece in intraday trade on the BSE today (February 4).

The stock traded at INR 98.50 around 02:00 PM, up 2.3% from its Monday close of INR 96.30. DroneAcharya’s market capitalisation stood at INR 236.29 Cr on today.

The company’s shares rebounded after four straight sessions in the red. The stock hit an all-time low of INR 95 on the BSE on Monday. It had previously hit a 52-week low of INR 110 on weak H1 earnings reported last November.

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.

Last month, it set up a wholly owned subsidiary in the UAE.

The company’s shares had leaped over 4% to INR 108 a week ago after it bagged a INR 18.70-Lakh contract from the Indian Army. As part of the deal, 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. 

Updated at 02:04 PM

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