The subsidiary, Delhivery Robotics India, will manufacture drones and provide freight air transportation services
Delhivery also said that its board has approved the liquidation of its UK-based wholly-owned subsidiary Delhivery Corp Ltd
The logistics major turned profitable in the third quarter of FY24, posting a profit after tax of INR 11.7 Cr
Logistics unicorn delhivery
is setting up a wholly-owned subsidiary, Delhivery Robotics India, to manufacture drones and provide freight air transportation services.
In an exchange filing on Friday (May 17), the company said its board has approved the proposal to set up the subsidiary with an authorised share capital of INR 5 Cr.
The proposed subsidiary will primarily offer Drone as a Service (DaaS) for shipment movement and remote sensing.
Besides, it will also be engaged in manufacturing, production and selling unmanned aerial vehicles (UAVs) globally. For this, it will outsource the manufacturing and procurement of composite airframe components, quality testing, flight trials as well, the filing added.
Delhivery Robotics India will also provide UAV pilot training, certifying pilots for internal use and obtaining a licence from the DGCA.
Delhivery also said that its board, in its meeting today, approved the liquidation of its UK-based wholly-owned subsidiary Delhivery Corp Ltd. “Delhivery Corp is not a material subsidiary of the company, and the dissolution of Delhivery Corp will not affect the turnover/revenue of the company,” Delhivery said in a separate filing.
The net worth of Delhivery Corp stood at INR 1.03 Cr as of March 31, 2024.
Delhivery is scheduled to declare its financial results for the quarter and the year ended March 2024 later today. The logistics major turned profitable in the preceding December quarter, reporting a profit after tax of INR 11.7 Cr.
