DroneAcharya Aerial Innovations Ltd, an industrial drone solution provider, plans to buy the majority of Aerophile Academy Pvt Ltd, a drone pilot training company with DGCA certification.
According to DroneAcharya’s regulatory filings obtained from the stock exchange, the board has executed a term sheet to purchase a 76% interest in Aerophile Academy.
DroneAcharya enters the drone pilot training industry in South India with this calculated move. It currently conducts business in West, North, and Central India.
Aerophile Academy, a Remote Pilot Training Organization (RPTO) in Bengaluru, Karnataka, is overseen by Krishna Shrivatsa and has DGCA certification. Aerial mapping and surveying, corporate videos, agriculture, mining, transportation and logistics, construction, forestry, and disaster management are just a few of the industries that Aerophile Academy has served in collaboration with Skyvenger Aviation.
But after the acquisition, Aerophile Academy will keep the 24% share. According to the filings, the Share Purchase Agreement will contain the finalized details of the acquisition.
The scale of DroneAcharya increased to Rs 20.9 crore for the half-year ending period (April-September 2023) from Rs 1.9 crore for the same period the previous year, a multiplication in value. Additionally, the company reported profits of Rs 3.96 crore for the period ending in September 2023.
In partnership with its associate company Drone Entry (Thailand), DroneAcharya announced a few days ago that it had acquired an export order for Defense FPV (First Person View) drones.
When DroneAcharya first went public in December 2022, its share price was approximately Rs 100. In January 2023, the company reached its peak price of over Rs 200. Presently, its market value is approximately Rs 430 crore, or $51 million, and it is trading at about Rs 182 per share.
