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DroneAcharya Sets Its Sights on Expansion with Aerophile Academy Acquisition

DroneAcharya Aerial Innovations Ltd, a leading provider of industrial drone solutions, is poised to acquire a significant stake in Aerophile Academy Pvt Ltd, a distinguished company specializing in drone pilot training and certified by the Directorate General of Civil Aviation (DGCA).


According to regulatory filings obtained from the stock exchange, DroneAcharya's board has approved a term sheet to acquire a commanding 76% stake in Aerophile Academy, marking a strategic move into South India's burgeoning drone pilot training sector. While currently operating in Central, North, and West India, this acquisition signals DroneAcharya's expansion into a key region of the country.

Aerophile Academy, spearheaded by Krishna Shrivatsa, holds DGCA certification as a Remote Pilot Training Organisation (RPTO) and is headquartered in Bengaluru, Karnataka. The academy, in collaboration with Skyvenger Aviation, has carved a niche in various sectors including aerial surveying, corporate videos, agriculture, mining, transportation and logistics, construction, forestry, and disaster management.


Despite the acquisition, Aerophile Academy will maintain a 24% stake in the company, as per the terms outlined in the Share Purchase Agreement, which is yet to be finalized.


DroneAcharya's financial performance has been robust, with a significant surge in scale during the half-year period ending September 2023. Revenue skyrocketed from Rs 1.9 crore to Rs 20.9 crore compared to the corresponding period in the previous year, accompanied by a notable profit of Rs 3.96 crore.


In a recent development, DroneAcharya secured an export order for Defense First Person View (FPV) drones in collaboration with its associate company, Drone Entry (Thailand), further solidifying its presence in the drone technology market.


Having entered the public market in December 2022 with an initial share price of approximately Rs 100, DroneAcharya witnessed remarkable growth, peaking at over Rs 200 in January 2023. Presently, its shares are trading around Rs 182, with a market capitalization of approximately Rs 430 crore or $51 million.


The acquisition of Aerophile Academy underscores DroneAcharya's strategic vision for expansion and diversification, positioning the company as a dominant player in the rapidly evolving landscape of drone technology and training.


 

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