SUMMARY
Without disclosing the monetary value of the order, the drone startup said it has been awarded a “significant service order” by the Adani Group
Earlier this year, the startup bagged a contract from the Indian Army to provide advanced drone training at the Mechanised Army Courses Group, Ahmednagar
DroneAcharya reported a profit after tax of INR 3.97 Cr in the first half of FY24 against a profit of INR 13.09 Lakh a year ago
Listed drone startup DroneAcharya Aerial Innovations said it has bagged an order from the Adani Group to provide Directorate General of Civil Aviation (DGCA) certified drone pilot training.
Without disclosing the monetary value of the order, the drone startup said in an exchange filing on Tuesday (March 12) that it has been awarded a “significant service order”.
The order is an endorsement for use of drones for mapping, monitoring, and inspection purposes within Adani Group’s diverse operations spanning energy, infrastructure, logistics, resources, and agribusiness, it said.
Commenting on the order, DroneAcharya founder and managing director Prateek Srivastava said, “The utilisation of drones by a prominent player like Adani not only signals a significant advancement but also serves as a catalyst for similar companies to embrace this innovative technology.”
It is pertinent to mention that the drone tech startup has bagged a number of new orders in recent times. In January, it secured a contract from the Indian Army to provide capacity building and advanced drone training at the Mechanised Army Courses Group, Ahmednagar.
In February, it signed a pact with Vimaan Aerospace to provide drones and drone-related training and services.
DroneAcharya went public in December 2022, with its shares listing on the BSE SME platform at INR 102 apiece. The startup’s shares have steadily moved up over the last year. The stock ended 4.77% lower at INR 144.60 today.
Founded in 2017, DroneAcharya offers various drone solutions for multi-sensor drone surveys, pilot training, data processing, and more.
The drone startup reported a profit after tax of INR 3.97 Cr in the first half of FY24 against a profit of INR 13.09 Lakh in the corresponding period of the previous fiscal year. Operating revenue zoomed 998% to INR 20.89 Cr in H1 FY24 from INR 1.9 Cr in the year-ago period.
