DroneAcharya’s Company Secretary & Compliance Officer Resigns

DroneAcharya’s Company Secretary & Compliance Officer Resigns

SUMMARY

Harshal J. Kher, the company secretary and compliance officer of drone tech major DroneAcharya, has resigned from his position

In an exchange filing, the company said that Kher’s resignation will be effective from January 31, 2025

This comes just days after DroneAcharya signed a term sheet with drone tech startup AVPL International for a merger

Harshal J. Kher, the company secretary and compliance officer of drone tech company DroneAcharya has resigned from his position. 

In an exchange filing, the company said that Kher’s resignation will be effective from January 31, 2025.

“We wish to inform you that Mr. Harshal J. Kher, company secretary & compliance officer of the company has tendered his resignation from the position of company secretary & compliance officer to be effective from the closing hours of Friday, January 31, 2025,” the filing said. 

In his resignation letter, Kher said he was resigning to “pursue opportunities for professional growth and development”.

This comes days after DroneAcharya said it has signed a term sheet for a “strategic company merger” with agri-drone company AITMC Ventures.

With the merger, the companies are eyeing for a mainboard listing for the combined entity. The companies will retain their brand identities, and will combine their support teams, like finance, legal and compliance. 

Founded by Prateek Srivastava in 2017, DroneAcharya offers an array of drone solutions for multi-sensor drone surveys, pilot training, and data processing, among others. 

The company recently received an INR 18.7 Lakh contract from the Indian Army. It also partnered with Canada based Volatus Aerospace in December 2024 to manufacture drones in India. 

Last year, it also expanded into the Middle Eastern market via an Abu Dhabi subsidiary. 

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.

Shares of DroneAcharya were trading 0.58% lower today at INR 103.4 on the BSE.