“This contract demonstrates DroneAcharya's commitment to penetrating the U.S. market with customized solutions and marks a new chapter in cross-continental collaboration,” the company said in a statement.
DroneAcharya will design eight drones targeting distinct applications, including toy drones for children, law enforcement drones for crowd monitoring, AI and thermal scanning, agricultural drones for spraying and seed bombing, FPV (first person view) drones, and survey drones equipped with GPS.
The partnership between DroneAcharya and ABS will see co-production and certification of these eight products in the U.S., thereby reinforcing the market position of both companies in the American drone landscape.
Prateek Srivastava, founder & managing director of DroneAcharya, said: “This contract represents a significant step forward in our mission to establish a presence in the U.S. drone industry. By aligning our services with ABS’s vision, we are materializing our partnership and bringing our plans into actionable outcomes.”
The company has also announced its earnings for the six months ended on 30 September 2024.
Droneacharya Aerial Innovations has reported 61.9% fall in consolidated net profit to Rs 1.51 crore despite a 28.8% increase in net sales to Rs 26.90 crore for the six months ended on 30 September 2024 as compared with the same period last year.
Profit before tax for the period under review was Rs 2.43 crore, which is lower by 54.5% from Rs 5.34 crore recorded in the six months ended on 30 September 2023.
Following the result announcement, the stock tumbled 16.81% to currently trade at Rs 113.10 on the BSE.
DroneAcharya Aerial Innovations is engaged in the main operations of the company are imparting the drone operation training, drone supply and maintenance services and management consultancy and training services.