Drone stock hits 52-week high after signing MoU with CSC to expand drone training & services

Drone stock hit record high after signing MoU to Expand Drone Training & Services

During Friday’s trading session, the shares of India’s largest Drone Pilot Training and a leading Drone-as-a-Service (DAAS) company reached a new 52-week high on NSE, after the company announced signing an MoU with Common Services Center (CSC) Academy.

Price Movement

With a market cap of Rs. 300.6 crores, the shares of Drone Destination Limited hit a new 52-week high and closed in the green at Rs. 123.2, up by around 1.6 percent, as against its previous closing price of Rs. 121.25.

What’s the news

Drone Destination Limited has entered into a Memorandum of Understanding (MoU) with Common Services Center (CSC) Academy, as per the latest exchange filings with the NSE. 

The collaboration aims to jointly develop and expand drone training, agriculture drone services, as well as drone sales and maintenance through CSC’s extensive network across India.

Under this MoU, Drone Destination and CSC Academy will establish Drone Training Schools and identify suitable partners within the CSC network to grow agriculture drone services, and the drone sales and maintenance business, driving the widespread adoption of drones across India.

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Previous News

4th February: Drone Destination signed an MOU with Asteria Aerospace Limited (AAL), a Jio Platforms Limited subsidiary, to develop business opportunities for UAV-related services and sales in international markets, specifically in the sector of oil and gas, telecom/ transmission towers, agriculture, mining, security and surveillance. 

Under the MOU, Drone Destination shall utilize its fleet of drones and pilots to execute global Drone Services projects and utilize AAL’s tech platform for data processing, analytics and visualization.

19th February: The company was awarded a contract for Aerial Survey and data processing worth Rs. 1.34 crores by GarudaUAV Soft Solutions Private Limited, a Trentar Group Company.

Financials

Drone Destination reported a significant growth in revenue from operations, experiencing a year-on-year increase of nearly 151 percent, rising from Rs. 5.5 crores in H1 FY24 to Rs. 13.8 crores in H1 FY25. Similarly, during the same period, the company’s net profit increased from Rs. 0.4 crores to Rs. 1.02 crores, representing an impressive growth of about 155 percent YoY.

About the company

Incorporated in 2019, Drone Destination Limited is engaged in the business of trading, operations, manufacturing, repair, renting services and training on various types of drones. It has developed an integrated drone eco-system built around drone manufacturing, certified training, and drones as a service.

The company is a DGCA-approved manufacturer and DGCA-authorised Remote Pilot Training Organisation that has developed an integrated drone eco-system built around drone manufacturing, certifies training, services and rent a drone.

Written by Shivani Singh

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