DroneAcharya Aerial Innovations Forms Joint Venture with AVPL International
BSE-listed firm DroneAcharya Aerial Innovations has finalised a term sheet with AVPL International to create a joint venture aimed at improving drone manufacturing capabilities in India. In conjunction with this agreement, DroneAcharya has also approved the implementation of an Employee Stock Option Plan (ESOP), designed to enhance employee engagement and align their interests with the company’s objectives.
Objectives of the Collaboration
This partnership is focused on harnessing the strengths of both organisations to create cutting-edge drones for a range of purposes, such as:
- Agriculture
- Surveillance
- Logistics
Proposed Name for the Joint Venture
Sources indicate that the companies are considering the name AVPL DroneAcharya for their combined entity.
About AVPL International
AVPL, which is owned by AITMC Ventures Ltd, operates in 12 states and manages 50 Global Incubation and Skill Hubs (GISH) along with 20 World Incubation and Skill Hubs (WISH) that focus on drones and agricultural applications. The company provides services such as:
- Drone training
- Drone as a Service (DaaS)
- Drone manufacturing
- Agri-input retail outlets across India
Recent Financial Performance
AITMC Ventures achieved a remarkable 95.2% increase in operating revenue during FY24, reaching Rs 41.87 crore. Additionally, profits saw a significant rise of 82.6%, amounting to Rs 8.84 crore in the same timeframe.
DroneAcharya’s Market Position
DroneAcharya entered the public market in December 2022 through BSE SME, experiencing a 90% premium upon listing, followed by the upper circuit on the same day. As of January 23, 2025, the company’s share price stands at Rs 110.15 per share.