HomeBusinessFinancial Results: DroneAcharya Aerial Innovations Records 417% Revenue Growth in FY23

Financial Results: DroneAcharya Aerial Innovations Records 417% Revenue Growth in FY23



DroneAcharya Aerial Innovations, a Pune-headquartered integrated drone ecosystem start-up listed on the BSE SME platform, announced its H2FY23 and FY23 financial results; posting strong numbers owing to higher student enrolments and strategic tie-ups.

This was the first time the company disclosed its numbers after listing on the BSE SME exchange in December 2022.

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The company registered 417% growth in total revenues to Rs 18.57 crore during FY 2022-23 compared to Rs. 3.58 crore in FY 2021-22. The company’s EBITDA and profits after tax stood at Rs 4.99 crore and Rs 3.42 crore, respectively, both registering 700% growth against FY 2021-22.

The year’s performance was led by scale impact kicking in during H2FY23 – with revenues for the half year growing 172%.

Particulars (Rs. in Lakhs)H2FY23H1FY23HoH%FY23FY22YoY%
Revenue from operations1,358.34498.60172%1,856.94358.73417%
EBITDA (excluding other income)365.77132.97175%498.7457.3769%
EBITDA Margin (%)26.926.726.816.0
Net PAT256.9585.15202%342.140.65742%
Net PAT Margin %18.917.118.411.3
Diluted EPS (in Rs.)1.330.441.770.35
Snapshot: Financial Results FY23

Commenting on the performance, Prateek Srivastava, Founder & Managing Director, DroneAcharya Aerial Innovations, said, “The past year was full of milestones for us at DroneAcharya. We embarked on a journey to build a robust business, expand our horizons, and explore opportunities in a niche-yet-fast-evolving industry segment. We built a team and tapped a reputed clientele building acceptance by offering innovative solutions to business challenges.”

“Our IPO enabled us to secure expansion financing, allowing us to think more audaciously when opportunities present themselves. The results demonstrate our commitment to creating sustained value. The year 2023-24 will witness our evolution as a drone manufacturer, with our recent foray into industrial, enterprise, and defense category drones. At the same time, with the delivery of our drone orders going forward, we will significantly boost our service capability. This will enable us to aim for high growth in 2023-24,” Srivastava added.

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The company recently announced its successful drone manufacturing pilot stage conclusion. DroneAcharya has partnered with GridBots Technologies, a Make in India company, working in the field of nuclear, space, and industrial robotics for commercial production, assembly, and export of drones and associated products from July 2023.

The company has also expanded to Thailand through its partnership with the Asian Institute of Technology (AIT) – eyeing Southeast Asian markets for upcoming opportunities.

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The company has completed more than 325 DGCA drone pilot training programs and offered 600 other drone training-related courses. The company counseled and educated more than 6,000 students during the review year.


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Krishna Mali
Krishna Mali
Founder, CEO & Group Editor of TechGraph.

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