Listed drone company DroneAcharya Aerial Innovations slipped into the red in the second half of the financial year ended March 2025 (H2FY25) on account of lower revenue and higher expenses. The company posted a standalone net loss of Rs 15.1 crore in H2FY25 as against a profit of Rs 2.2 crore in the corresponding period last year.
Notably, DroneAcharya was hit with a fine of Rs 1.3 lakh by the Bombay Stock Exchange (BSE) in June for delaying the submission of its financial results for H2FY25. At the time, the company attributed the delay to “resource constraints and extended internal review procedures.”
Revenue Decline and Full-Year Performance
The decline in the bottom line was partly due to a sharp decrease in revenue. The BSE SME-listed startup saw its revenue from operations fall nearly 47% year-on-year (YoY) to Rs 7.6 crore in H2FY25 from Rs 14.3 crore in H2FY24, according to regulatory filings.
It is worth noting that DroneAcharya received a one-time deferred tax credit of Rs 4.4 crore during the review period. Excluding this, the company would have reported a loss of Rs 19.6 crore in H2FY25.
On account of its weak H2 performance, the startup slipped into the red for the full year, reporting a loss of Rs 13.5 crore in FY25 compared to a profit of Rs 6.2 crore in FY24. Operating revenue declined nearly 2% to Rs 34.5 crore in FY25 from Rs 35.2 crore in FY24. Furthermore, it reported an Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) loss of Rs 13.4 crore in FY25 against an EBITDA profit of Rs 10.4 crore the previous year.
These numbers sharply contrast with the company’s claims in September last year, when DroneAcharya said it was eyeing a 200% growth in revenue, EBITDA, and Profit After Tax (PAT) in FY25.
The company also recorded a provision for doubtful debts and advances worth Rs 13 crore in FY25, underscoring collection challenges. Trade receivables stood at Rs 25.4 crore during the year, while operating cash flows turned negative at Rs 7.1 crore, suggesting liquidity pressure.
DroneAcharya Under SEBI’s Lens
While disclosing its H2FY25 results, DroneAcharya said that the Securities and Exchange Board of India (SEBI) had issued a show-cause notice to the company and some of its directors in May 2025. The notice, sent under the provisions of the SEBI Act, 1992 and SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995, pertains to certain matters under review in relation to the company’s affairs.
“The company has submitted its response within the prescribed timelines, including the necessary clarifications, explanations, and supporting documentation as sought by SEBI. As of the date of this report, the matter remains under examination and no final order has been passed. Accordingly, the potential financial implications, if any, arising out of the said proceedings cannot presently be ascertained,” DroneAcharya said in a statement.
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