Defence drone stock under Rs 100: Company secures order worth Rs 1.04 Crore from Galgotias University, Noida

Drone Destination Ltd has received a purchase order valued at Rs 1.04 crore from Galgotias University, Noida, to establish a Drone Sports Arena and an advanced Drone Tinkering Lab. This marks the company's first such initiative at a premier educational institution, following its successful ventures with defence training centres. The project is aimed at promoting drone technology and sports within the academic environment.

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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 Wednesday, shares of Drone Destination Limited gained 1.35 per cent to an intraday high of Rs 93.85 per share from its previous closing of Rs 92.60 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 224 crore. The stock is up by 4.3 per cent from its 52-week low of Rs 90 per share.

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