Droneacharya Aerial Innovations Ltd Share Price – BSE

Education, Small Cap

The collaboration aims to enhance drone-based logistics and services in India, combining DroneAcharya’s expertise in drone surveying and training with Volatus Aerospace’s delivery solutions and technological innovations.

Volatus Aerospace, a pioneer in compliant drone delivery certified by Transport Canada, brings its proprietary logistics platform and turnkey cargo delivery systems to the partnership. Meanwhile, DroneAcharya, a DGCA-approved organization, contributes its local infrastructure and skilled resources to facilitate manufacturing, training, and execution of drone-based solutions.

A key product of this partnership is the Condor drone, a heavy-payload logistics solution capable of carrying up to 180 kilograms, revolutionizing cargo delivery in India. DroneAcharya will also serve as the manufacturing partner for Volatus in India, driving local production and distribution of advanced drone solutions.

Additionally, the partnership aims to facilitate the exchange of technology, enabling Volatus Aerospace to leverage DroneAcharya’s expertise in FPV (first-person view) drone technology and room intervention solutions. By integrating these advanced capabilities, Volatus Aerospace can expand its service offerings and enhance its technological portfolio.

DroneAcharya Aerial Innovations is engaged in the main operations of the company, which are imparting drone operation training, drone supply and maintenance services, and management consultancy and training services.

On a full-year basis, the company’s consolidated net profit surged 77.3% to Rs 6.08 crore, with net sales increasing 89.8% to Rs 35.25 crore in FY24 compared to FY23.

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“This contract demonstrates DroneAcharya's commitment to penetrating the U.S. market with customized solutions and marks a new chapter in cross-continental collaboration,” the company said in a statement.

DroneAcharya will design eight drones targeting distinct applications, including toy drones for children, law enforcement drones for crowd monitoring, AI and thermal scanning, agricultural drones for spraying and seed bombing, FPV (first person view) drones, and survey drones equipped with GPS.

The partnership between DroneAcharya and ABS will see co-production and certification of these eight products in the U.S., thereby reinforcing the market position of both companies in the American drone landscape.

Prateek Srivastava, founder & managing director of DroneAcharya, said: “This contract represents a significant step forward in our mission to establish a presence in the U.S. drone industry. By aligning our services with ABS’s vision, we are materializing our partnership and bringing our plans into actionable outcomes.”

The company has also announced its earnings for the six months ended on 30 September 2024.

Droneacharya Aerial Innovations has reported 61.9% fall in consolidated net profit to Rs 1.51 crore despite a 28.8% increase in net sales to Rs 26.90 crore for the six months ended on 30 September 2024 as compared with the same period last year.

Profit before tax for the period under review was Rs 2.43 crore, which is lower by 54.5% from Rs 5.34 crore recorded in the six months ended on 30 September 2023.

Following the result announcement, the stock tumbled 16.81% to currently trade at Rs 113.10 on the BSE.

DroneAcharya Aerial Innovations is engaged in the main operations of the company are imparting the drone operation training, drone supply and maintenance services and management consultancy and training services.

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DroneAcharya Aerial Innovations announced a major milestone in its partnership with American Blast Systems (ABS), California, USA, as it has secured a master contract worth USD 1.75 million (Rs 14.80 crore) for specialized drone consultancy services.

The contract encompasses a primary agreement and four key project-specific Purchase Orders (POs), reflecting the ambition and scale of the partnership:

1. U.S. Drone Market Study: This study will offer crucial insights into the U.S. drone market landscape and enable strategic alignment of DroneAcharya products to meet U.S. market needs.

2. Business Plan and Roadmap Consultancy Services: This consultancy phase will develop a robust business strategy and roadmap to enter and expand within the U.S. market effectively.

3. Product Design Services for 8 Specialized Drones: DroneAcharya will design eight drones targeting distinct applications, including toy drones for children (5+ years), law enforcement drones for crowd monitoring, AI and thermal scanning, agricultural drones for spraying and seed bombing, FPV (First Person View) drones, and survey drones equipped with GPS.

4. Manufacturing Setup Consultancy Services: This phase will involve a comprehensive guide on establishing manufacturing infrastructure in the U.S., facilitating local production and meeting stringent certification standards.

The partnership between DroneAcharya and ABS will see co-production and certification of these eight products in the U.S., thereby reinforcing the market position of both companies in the American drone landscape.

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Droneacharya Aerial Innovations will hold a meeting of the Board of Directors of the Company on 12 November 2024

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