DroneAcharya Aerial Innovations, a pioneering player in the drone technology space, witnessed a remarkable surge in its share prices on the BSE SME platform on Monday (March 18), buoyed by the announcement of new contracts secured from the defence forces. The startup’s shares surged over 5% during the trading session, reflecting investor enthusiasm for its recent achievements and growth prospects.

The rally in DroneAcharya’s shares saw an intraday peak of 8.6%, underlining the market’s positive response to the news. Despite some retracement from the peak levels, the session concluded with the startup’s shares trading at INR 145.95, signaling a notable uptick in investor confidence.

DroneAcharya’s ascent was fueled by the announcement of significant contracts secured from the Ministry of Defence, highlighting its growing stature in the defence sector. The startup revealed that it had clinched an order to supply IT hardware for the establishment of a drone lab in Jammu and Kashmir (J&K), a strategic initiative aimed at bolstering security and surveillance capabilities in the region. Additionally, DroneAcharya secured contracts to supply drone hardware to the Northern Command and its precision mapping system to Earthtree Enviro, further consolidating its position as a key player in the defence technology domain.

Founded in 2017 by Prateek Srivastava, DroneAcharya has established itself as a leading provider of drone-based enterprise solutions across diverse sectors such as oil and gas, mining, infrastructure, and agriculture. The startup’s comprehensive offerings encompass not only drone technology but also training programs for drone piloting and data processing, catering to the evolving needs of its clientele.

The recent string of successes for DroneAcharya underscores its impressive growth trajectory in 2024. The startup has secured a series of high-profile contracts, including an order from the Adani Group for drone pilot training and accreditation from the Directorate General of Civil Aviation (DGCA) as a medium category drone pilot training organization. Additionally, DroneAcharya inked a strategic agreement with Vimaan Aerospace to provide drones and related services, further expanding its market reach and capabilities.

Financially, DroneAcharya has delivered robust performance, with a significant increase in profit after tax (PAT) and operating revenue in the first half of FY24 compared to the previous fiscal year. The startup’s PAT surged to INR 3.97 Cr, marking a substantial growth trajectory, while its operating revenue witnessed a remarkable 998% increase, reflecting the strong demand for its solutions and services.

The surge in DroneAcharya’s share prices comes on the heels of a challenging period in the market, where the startup’s shares experienced a downturn amid broader market fluctuations. However, the recent uptick underscores investor confidence in DroneAcharya’s resilience and potential for sustained growth.

With a market capitalization of INR 350.11 Cr at the end of today’s trading session, DroneAcharya Aerial Innovations continues to chart a course of innovation and success in the dynamic landscape of drone technology, poised to deliver value to its stakeholders and make significant strides in the defence and commercial sectors alike.

By Admin

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