DroneAcharya Aerial Innovations Ltd, an industrial drone solution provider, is poised to acquire a majority stake of 76% in Aerophile Academy Pvt Ltd, a DGCA-certified drone pilot training company. According to regulatory filings from the stock exchange, “The board at DroneAcharya has signed a term sheet to acquire a 76% stake in Aerophile Academy.” This strategic move marks DroneAcharya’s expansion into South India’s drone pilot training sector, complementing its existing operations in Central, North, and West India.
Aerophile Academy, under the leadership of Krishna Shrivatsa, is a DGCA-certified Remote Pilot Training Organisation (RPTO) based in Bengaluru, Karnataka. The academy, in collaboration with Skyvenger Aviation, has provided drone services across various sectors, including aerial surveying, corporate videos, agriculture, mining, transportation, construction, forestry, and disaster management.
Following the acquisition, Aerophile Academy will retain a 24% stake in the company. “Specific details of the acquisition will be finalized in the Share Purchase Agreement,” as per the regulatory filings. DroneAcharya’s financial performance has shown significant growth, with its scale surging to Rs 20.9 crore for the half-year ending September 2023, compared to Rs 1.9 crore during the same period the previous year. The company also recorded profits of Rs 3.96 crore for the said period.
Recently, DroneAcharya announced the acquisition of an export order for Defense FPV (First Person View) drones in collaboration with its associate company, Drone Entry (Thailand). Since its entry into the public market in December 2022 at around Rs 100 per share, DroneAcharya has witnessed substantial growth, peaking at over Rs 200 in January 2023. Currently trading at around Rs 182 per share, the company boasts a market cap of approximately Rs 430 crore or $51 million.
