DroneAcharya Tanks 19% To 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.

 

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
UNLOCK 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
UNLOCK 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

DroneAcharya Tanks 19% To Hit 52-Week Low After Weak H1 Results-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

DroneAcharya Tanks 19% To Hit 52-Week Low After Weak H1 Results-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

DroneAcharya Tanks 19% To Hit 52-Week Low After Weak H1 Results-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

DroneAcharya Tanks 19% To Hit 52-Week Low After Weak H1 Results-Inc42 Media
DroneAcharya Tanks 19% To Hit 52-Week Low After Weak H1 Results-Inc42 Media
You’re in Good company