Drone Destination Reports Robust Financial Performance for FY 23 – 24

 

Mumbai, India – May 27, 2024: Drone Destination India's leading Drone-as-a-Service provider and the largest DGCA certified Drone Pilot Training company, today announced its financial results for FY 23-24.

 

Key highlights:

 

• Became the first Drone Company to list on NSE Emerge
• Trained over 2100 Pilots along with our partner IGRUA Actively participated in the “Namo Drone Didi” scheme and trained more than 600 Namo Drone Didis, nominated by our new client base including large fertilizer and agro-chemical companies such as IFFCO, KRIBHCO, Chambal Fertliser, IPL, Indorama etc.
• Won and executed our first independent Drone Survey Project from Andhra Pradesh Land Records Department, mapping 1.4 Lakh hectares in the state
• Forayed into Agri Spray services and deployed close to 200 Drones & Drone Pilots for IFFCO, and covered over 28,000 Gram Panchayats for Agri Spray demonstrations under Viksit Bharat Sankalp Yatra
• Introduced new “Kickstarter” & “Training Partner” Program to expand training footprint across India

 

Management Comments on Results:

Alok Sharma, Chairman, Drone Destination: “Our vision and business fundamentals aligned with core focus on Drone-based Services & Training has helped us achieve 43% EBIDTA and 22% PAT over the last year. Our on-ground execution capabilities have helped us develop credible associations, as we have recently collaborated with IFFCO for the largest Drone Spray project over 30 lakh acres across 12 states in India. Drone Destination also has a steady pipeline of upcoming projects and partnerships, including Urban Mapping, LIDAR surveys, as well as launch of Drone Soccer in India, an exciting new sport, blending education, technology and recreation.”

 

Chirag Sharma, CEO, Drone Destination: “Over the past year, our revenue has grown 2.7x to INR 32.26 CR and our PAT has grown 2.76x to INR 7.08 CR. We have continued to maintain leadership position for Drone Training in India, and we are proud to be part of the Namo Drone Didi scheme, having trained the highest number of Drone Didis in the country. Drone Destination won and successfully executed its first independent drone survey project for Govt of AP Land Records Dept. We also forayed into Agri Drone Services in collaboration with IFFCO and executed over 28,000 Drone Demonstrations under the Viksit Bharat Sankalp Yatra. Drone Destination is on a high-growth trajectory and aims to scale its integrated Service & Training network pan-India.”