Shares of DroneAcharya hit an intraday high of INR 131.00, up 12.88% from its previous close, before settling 6.59% higher at INR 123.70 as of 15:32 PM
The dronetech company has formed a UAE subsidiary, DRONE ENTRY AERIAL SERVICES LLC, holding a 99% stake to expand its Middle East presence in aerial surveys, drone sales, and surveillance services
The expansion comes as DroneAcharya reported H1 FY25 PAT of INR 1.50 Cr, down 62.1% YoY, despite revenue growing 28.8% to INR 26.90 Cr
Shares of DroneAcharya Aerial Innovations rallied as much as 12.88% to touch an intraday high of INR 131.00 on the BSE today (December 16) after the company announced its strategic expansion into the Middle East through a new subsidiary in Abu Dhabi.
However, the stock pared some gains to trade 6.59% higher at INR 123.70 as of 15:32 PM on the BSE.
Trading witnessed strong momentum during the session, with volume reaching 4.05 Lakh shares and market capitalisation of INR 296.86 Cr as of 15:32 PM.
The drone tech company informed the exchanges about incorporating Drone Entry Aerial Services LLC in Abu Dhabi, with DroneAcharya holding a 99% stake in the newly established entity.
The UAE-based subsidiary will offer aerial surveys, drone sales and leasing, and surveillance services.
The filing outlines several opportunities from this expansion, noting that “the region is witnessing a surge in demand for drone technology, particularly in industries like oil & gas, real estate, logistics, and smart cities.”
The company said this move will enhance its technical capabilities through strategic partnerships while diversifying revenue sources and reinforcing its position as a global innovator in UAV technology.
Founded by Prateek Srivastava in 2017, DroneAcharya offers an array of drone solutions including multi-sensor surveys, pilot training, and data processing. The startup ventured into drone manufacturing last year and has been actively expanding its presence in both domestic and international markets.
The expansion comes amid challenging times for the company. In November, DroneAcharya reported a 62.1% decline in its consolidated profit after tax (PAT) to INR 1.50 Cr for H1 FY25, compared to INR 3.96 Cr in the same period last year. However, its revenue from operations grew 28.8% to INR 26.90 Cr from INR 20.88 Cr in H1 FY24.
The company had earlier announced ambitious targets, aiming for 200% growth in revenue, EBITDA and PAT in FY25. DroneAcharya reported a consolidated PAT of INR 6.18 Cr in FY24, with operating revenue of INR 35.19 Cr