Drone stock hits upper circuit after signing MoU with subsidiary of Jio Platforms

This drone stock, which specializes in drone as a service (DaaS) and training, offering drone operations, manufacturing, and certified pilot training services, hit a 2 percent upper circuit after signing an MOU with Asteria Aerospace, a Jio Platforms subsidiary, to expand international drone services.

Stock Price Movement

With a market capitalization of Rs. 388.56 crores, the shares of Drone Destination Limited’s stock hit a 2 percent upper circuit of Rs. 159.90 per share on Tuesday, up from its previous closing price of Rs. 156.80 per share.

What Happened

Drone Destination Limited has signed an MoU with Asteria Aerospace, a Jio Platforms subsidiary, to expand international drone services. This partnership focuses on UAV services in industries like oil & gas, telecom, agriculture, mining, and security.

The company will provide drones and pilots for global projects, while Asteria Aerospace will offer its technology for data processing and analytics. This collaboration aims to enhance drone-based solutions in international markets. 

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Future Outlook

Drone Destination aims for strong growth in the drone industry, particularly in Agri-Spray services. The company anticipates a shift in revenue, with services contributing 60-65 percent, training 30-35 percent, and drone sales 10-15 percent. It plans to expand its integrated service and training network across India. 

Additionally, the company is exploring opportunities in drone soccer, expecting modest initial revenue. This strategy positions drone destinations for long-term growth in emerging drone applications and services.

Recent quarter results

Drone Destination Limited’s revenue has increased from Rs. 5.48 crore in H1 FY24 to Rs. 13.83 crore in H1 FY25, which has grown by 152.37 percent. The net profit has also grown by 161.54 percent, from Rs. 0.39 crore in H1 FY24 to Rs. 1.02 crore in H1 FY25. 

Written By – Nikhil Naik

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