DroneAcharya Shares Hit Fresh All-Time Low At INR 61.07

SUMMARY

DroneAcharya shares have fallen 40% from its listing price. In the past month alone, the stock has crashed 16%

In January, DroneAcharya signing a strategic merger agreement with agri-drone company AITMC Ventures

DroneAcharya’s consolidated profit after tax declined 62% YoY to INR 1.5 Cr in H1 FY25, even as operating revenue surged 29% YoY to INR 27 Cr

Shares of drone tech company DroneAcharya Aerial Innovations slid 5% in early trade today to hit a record low at INR 61.07 apiece on the BSE despite positive momentum in the broader market.

This came even as benchmark indices BSE Sensex and Nifty 50 logged gains on Monday. While Sensex was up 0.48% to 74,188.09 as of 2:57 PM, Nifty 50 gained 0.54% to 22,519.05.

Shares of DroneAcharya have fallen 40% from its listing price of INR 102. In the past month alone, the stock has nosedived 16%.

Founded by Prateek Srivastava in 2017, DroneAcharya manufactures drones and provides drone operations training and services like drone deliveries and mapping across industries. The company listed on the BSE SME platform in December 2022.

In January this year, DroneAcharya signed a strategic merger agreement with agri-drone company AITMC Ventures. With the merger, the companies are also eyeing a mainboard listing of the combined entity.

In a recent conversation with Inc42, Srivastava said the merger will act as a “force multiplier” for both companies, positioning the combined entity as a leader in India’s drone tech space, which is estimated to reach a market size of over $13 Bn by 2030.

Earlier this month, DroneAcharya said it has launched a six-month initiative to accelerate adoption of drone technology in Nepal, in partnership with consulting firm EY and IIT Ropar, as part of a project led by The World Bank.

Prior to that, the drone manufacturer bagged a contract worth INR 18.7 Lakh from the Indian Army. It also partnered with Krattworks to bring European Union’s defence drone tech to India.

In September last year, the company said it was targeting a 200% growth in revenue, EBITDA and profit after tax (PAT) in the financial year ending March 2025 (FY25).

DroneAcharya’s consolidated profit after tax (PAT) slumped 62.1% to INR 1.50 Cr during the six months ended September 2024 (H1 FY25) from INR 3.96 Cr in the year-ago period. However, revenue from operations zoomed 28.8% to INR 26.90 Cr in the reported period from INR 20.88 Cr in the first half of FY24.