Defence Drone Stock Hit Lower Circuit After Bagging Order Worth Rs 5.05 Crore From Latrics India Pvt Ltd
The stock is up by 26 per cent from its 52-week low of Rs 104.55 per share.
Drone Destination Ltd has made its foray into Drone/ Aerial Survey and bagged an order of Rs 5.05 crore from Latrics India Private Limited for LiDAR and Bathymetry Survey for River Basin Master Plan for a section of the Brahmaputra River.
Drone Destination has significantly expanded its operations, first by securing DGCA authorisation to launch a new drone training centre in Belagavi, Karnataka. This centre, in partnership with Indian Eye Security Pvt Ltd, will provide DGCA-certified drone training to 500 SC/ST candidates nominated by the Social Welfare Department, Government of Karnataka, aiming to foster entrepreneurship and employment. Concurrently, the company has entered the defence sector, receiving its inaugural drone supply order from Bharat Electronics Limited (BEL), marking a strategic move to diversify and enhance its UAV capabilities within the defence space.
About Drone Destination
Drone Destination leads India's Drone industry, providing comprehensive services from certified drone pilot training to state-of-the-art Drone-as-a-Service (DaaS) solutions. Headquartered in New Delhi, Drone Destination pioneers commercial drone operations and training across diverse sectors like agriculture and infrastructure. Notably, as the first listed Drone Company on the NSE Emerge platform, Drone Destination holds a prestigious position in the industry. The training programs set the standard, equipping aspiring pilots with safety and efficiency skills, covering regulatory compliance to advanced manoeuvres.
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According to half-yearly results, the net sales increased by 153 per cent to Rs 13.83 and net profit increased by 163 per cent to Rs 1.01 crore in H1FY25 compared to H1FY24. In its annual results, the net sales increased by 164 per cent to Rs 31.82 crore and net profit increased by 177 per cent to Rs 7.08 crore in FY24 compared to FY23.
On Friday, shares of Drone Destination Limited hit a 2 per cent lower circuit to Rs 131.70 per share from its previous closing of Rs 134.35 per share. The stock’s 52-week high is Rs 462 and its 52-week low is Rs 104.55. The company has a market cap of Rs 321 crore. The shares of the company have an ROE of 20 per cent and an ROCE of 24 per cent. The stock is up by 26 per cent from its 52-week low of Rs 104.55 per share.
Disclaimer: The article is for informational purposes only and not investment advice.