FIIs bought 1,71,000 shares: This drone company secured a work order worth Rs 2,52,756 from TreeTies Network Private Limited

FIIs bought 1,71,000 shares: This drone company secured a work order worth Rs 2,52,756 from TreeTies Network Private Limited

Kiran Shroff
/ Categories: Trending, Mindshare

As of March 2024, FIIs bought 1,71,000 shares and increased their stake to 2.02 per cent compared to 1.31 per cent in September 2023. 

DroneAcharya Aerial Innovations Ltd has secured a work order worth Rs 2,52,756 from TreeTies Network Private Limited for a Drone-based LiDAR survey and mapping project covering 1,298 acres at Agastya Foundation, Mustrahalli, Andhra Pradesh. This survey will involve capturing high-resolution data, generating 3D models, and calculating tree canopy height to create a Canopy Height Model (CHM).

TreeTies, known for its reforestation and carbon reduction initiatives, has selected DroneAcharya as its trusted drone service provider for this project. This marks the second collaboration between the two organizations, following a successful Drone-based Multispectral survey for tree plantations in Goa.

Also Read: Role of artificial intelligence (AI) in stock market analysis

About DroneAcharya Aerial Innovations Ltd

DroneAcharya Aerial Innovations Ltd. is a leading provider of drone-based solutions, dedicated to pushing the boundaries of innovation in aerial technologies and AI-driven applications. With a focus on delivering cutting-edge solutions, DroneAcharya is committed to transforming industries through the integration of drones and automation. As of March 2024, FIIs bought 1,71,000 shares and increased their stake to 2.02 per cent compared to 1.31 per cent in September 2023. 

According to the half-yearly results, the net sales increased by 998.01 per cent to Rs 20.9 crore, profit before tax increased by 2,934.05 per cent to Rs 5.34 and PAT increased by 2,934.47 per cent to Rs 4 crore in H1FY24 compared to H1FY23. According to its annual results, the net sales increased by 417.3 per cent to Rs 18.57 crore and net profit increased by 736.6 per cent to Rs 3.43 crore in FY23 compared to FY22. The company has a market cap of Rs 393 crore and investors should keep an eye on this micro-cap drone stock.

Disclaimer: The article is for informational purposes only and not investment advice.

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