Defence Drone Stock Hit Upper Circuit After Bagging Order From Bharat Electronics Limited

The stock is up by 61 per cent from its 52-week low of Rs 117 per share.

Drone Destination Ltd has made its foray into Defence space and bagged its first drone supply order from Bharat Electronics Limited (BEL) as part of the Organisation’s initiatives to diversify and strengthen UAV capabilities.

Earlier, the company received DGCA authorisation to start DGCA-certified Drone Training at its new Center in Belagavi, Karnataka. In association with Indian Eye Security Pvt Ltd, Drone Destination shall be imparting drone training to 500 SC/ ST candidates nominated by the Social Welfare Department, Government of Karnataka, and create entrepreneurship and employment opportunities for the nominated candidates.

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.

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 5 per cent upper circuit to Rs 188.25 per share from its previous closing of Rs 179.30 per share. The stock’s 52-week high is Rs 462 and its 52-week low is Rs 117. The company has a market cap of Rs 638 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 61 per cent from its 52-week low of Rs 117 per share. Investors should keep an eye on this SME stock.

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