[Dilip Davda] The company operates in a competitive segment with rising players. The sudden boost in its net profits for FY23 raises eyebrows and concerns over sustainability going forward. Based on the super earnings of FY23, the issue appears aggressively priced. Surprised extension of the IPO, two Market Makers and a new merchant banker are the pin-pointers. Well-informed/cash surplus investors may park funds with a long-term perspective. Read detail review...

Drone Destination IPO Peer Comparison

Drone Destination Limited peer comparison with similar listed entities. (Standalone) (As on March 31, 2023)

Company Name	EPS (Rs)	NAV (per share) (Rs)	P/E (x)	RoNW (%)
Company Name	EPS Basic	NAV (per share) (Rs)	P/E (x)	RoNW (%)
Drone Destination Limited	25.80	35.15		13.90
Droneacharya Aerial Innovations Limited	1.77	27.63	84.21	5.16

Notes:

Sourced from Annual Reports, Audited Financials, and BSE.
Industry Peer may be modified for finalization of Issue Price before filing Red Herring Prospectus with ROC.
Considering the nature and turnover of the business of the Company the peer are not strictly comparable. However, the same have been included for broader comparison.
The figures for Drone Destination Limited are based on the restated results for the year ended March 31, 2023.
The figures (except PE) for the peer group are based on standalone audited results for the respective year ended March 31, 2022.
PE is based on Twelve Trailing Months.

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