DroneAcharya Shares Hit 52-Week Low After Weak H1 Results

DroneAcharya Tanks 19% To Hit 52-Week Low After Weak H1 Results

SUMMARY

Shares of DroneAcharya were trading 15.41% lower at INR 115 apiece on the BSE at 12:22 PM; the stock is down almost 40% on a year-to-date basis

DroneAcharya reported a 62.1% YoY decline in its consolidated profit after tax (PAT) to INR 1.50 Cr during the six months ended September 2024 (H1 FY25)

In an exchange filing today, the drone company said it has bagged an $1.75 Mn contract from American Blast Systems for specialised drone consultancy services

Shares of DroneAcharya Aerial Innovations plunged over 19% today (November 13) to hit a 52-week low at INR 110 apiece on the BSE after the company’s weak H1 earnings.

DroneAcharya reported a 62.1% decline in its consolidated profit after tax (PAT) 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.

Founded by Prateek Srivastava in 2017, DroneAcharya offers a wide range of drone solutions for multi-sensor drone surveys, pilot training, and data processing, among others. The startup ventured into drone manufacturing last year.

In an exchange filing today, the company said it has bagged an $1.75 Mn (INR 14.8 Cr) contract from American Blast Systems for specialised drone consultancy services.

As part of the deal, DroneAcharya will conduct a study on the US drone market landscape and develop strategies to meet the demands in the region.

Additionally, it will design eight drones, including toy drones for children, law enforcement drones for monitoring the public, AI and thermal scanning, agricultural drones for spraying and seed bombing, first person view (FPV) drones and GPS-enabled survey drones.

The decline in DroneAcharya’s bottomline in H1 was in sharp contrast to recent claims made by the company.

In September, DroneAcharya said it was targeting a 200% growth in revenue, EBITDA and PAT in FY25. The company reported a consolidated PAT of INR 6.2 Cr in the year ended March 31, 2024.

While the dronetech startup saw a degrowth in its bottomline, its operating revenue shot up 28.8% to INR 26.90 Cr during the period under review from INR 20.88 Cr in the first half of FY24.

Shares of DroneAcharya were trading 15.41% lower at INR 115 apiece on the BSE at 12:22 PM. The stock is down almost 40% on a year-to-date basis.