Shares of DroneAcharya Aerial Innovations, a Pune-based drone startup, witnessed a 7% intraday surge to INR 201 on the BSE after securing a significant contract from the Indian Army. The contract, announced in an exchange filing, focuses on providing capacity building and advanced drone training at the Mechanised Army Courses Group, Ahmednagar.
Under the agreement, DroneAcharya has been entrusted with training senior officers from the Mechanised Army Courses Group (MIC&S), Ahmednagar, to become proficient drone pilots. The training program extends to the use of drones for disaster management purposes, showcasing the versatile applications of drone technology in critical scenarios.
DroneAcharya’s Founder and Managing Director, Prateek Srivastava, emphasized the increasing recognition of drones’ effectiveness in executing tactical missions, even in challenging conditions. He sees this contract as a milestone for DroneAcharya, reflecting the growing adoption of drone technology within the defense sector.
Established in 2017, DroneAcharya provides drone-based enterprise solutions across sectors like oil and gas, mining, infrastructure, and agriculture. Additionally, the company offers comprehensive training programs covering drone piloting, building, data processing, and industrial drone applications.
In August, DroneAcharya expanded into the spacetech sector, successfully testing a reusable rocket launch vehicle reaching an altitude of 3 kms over the ground surface. The company reported a substantial increase in profit after tax (PAT) in H1 FY24, totaling INR 3.97 Cr, compared to INR 13.09 Lakh (0.13 Cr) in the same period of the previous fiscal year. Operating revenue soared by 998% to INR 20.89 Cr in H1 FY24 from INR 1.9 Cr in the year-ago period.
Despite some retracement, DroneAcharya’s shares closed the day 3.51% higher at INR 194.60 on the BSE SME platform.
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