DroneAcharya Aerial Innovations Reports Revenue Surge of 90% in FY 2024

On May 31, 2024, DroneAcharya Aerial Innovations Limited announced its financial results for the financial year ended 2024. The company achieved a 90% year-on-year growth in revenue.

Financial Highlights of FY 2024

• Standalone: In FY 2024, DroneAcharya Aerial Innovations Limited’s total income was ₹3,735.32 lakh, up by 95.20% compared to ₹1,913.55 lakh in FY 2023. The company reported a net profit of ₹620.39 lakh, which grew by 81.35% from ₹342.10 lakh in FY 2023.

• Consolidated: In the case of consolidated performance in the financial year 2023 – 2024, the company’s total income was ₹3,729.44 lakh, up by 94.90% compared to ₹1,913.55 lakh in FY 2023. The company reported a net profit of ₹613 lakh, which grew by 79.18% from ₹342.10 lakh in FY 2023.

Business Highlights 

DroneAcharya Aerial Innovations Limited also secured several domestic and international projects. It secured an ₹10.48 crore drone-based project in Qatar’s Oil and Gas Sector. The company also secured an ₹4.67 crore project for Drone and GIS Data Processing in the United Kingdom. On the domestic side, the company secured several projects, including a contract from the Indian Army to supply IT hardware for Drone Lab, established in J&K.

The company won multiple tenders for the supply of FPV (First-Person View) Drones to various Defense organisations, emerging as one of the first few established Drone companies to provide reliable, high-quality drones.

Previously, DroneAcharya had two DGCA certified drone pilot training organisations in Pune and Gujarat. In FY 2024, they doubled the count by adding 2 more new centres at IIT Ropar, Punjab and Jaipur.

Speaking on the financial performance, the Founder and Managing Director of DroneAcharya, Mr Prateek Srivastava, said, “We have made significant progress in terms of establishing ourselves as a known brand in Drone Pilot Training and Services in India today. The complete team has put their efforts together, working towards a common goal and never losing focus. With this progress, we have already started making inroads as a Make in India Drone Manufacturing company.”

He stated that their first rollout for the Financial Year 2024-25 will involve introducing a line of type-certified Agricultural Spraying Drones. Progressing internationally, they are among India’s pioneering Drone Startups to expand into Southeast Asia. The objective is to export Make in India drones to Southeast Asia, the Middle East, Africa, and Europe during the current Financial Year 2024 – 2025, establishing a worldwide presence and positioning India as a Global Drone Hub.

He further added, “Moving forward, the Drone Research and Development team is working diligently to roll out Make in India drones suited for the Indian Armed forces. Some technologies include Loitering Munitions, Kamikaze Drones, Anti-Drone Solutions and integrated solutions. We are focused on building a brand that emanates the values of India and puts our country on the map as a quickly emerging Drone Hub.”

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